Are you an Asset or Liability to your client?

We operate by the credo that benefits sell consultancy. If the benefits are not there, then the consultant should not be there. But who defines the term 'benefits'? Rather than engage in a theoretical debate about benefits and who defines them, let's take a practical approach to client benefits by examining the Balance Sheet of the client, shall we?

The development of a business relationship goes through 5 stages. Your ability as a consultant to become a fixture in your client's asset column in each of these 5 stages will determine the benefits you are providing and whether or not you have earned the right to remain as the consultant for that client. If you reside in the liability column in ANY of these 5 stages, you run the risk of creating a very short-lived relationship. Are you ready to take the test? Great! Score yourself in each of the 5 stages; A for asset and L for liability. Be honest and good luck!

5 Stages of a Successful Business Relationship

Stage 1: Initiating the Business Relationship. When initiating the relationship, you need to create a personal relationship and build rapport. In order to build trust, our client needs to feel that you are there to serve them and their needs. Are you effective in building rapport and trust? If Yes, score A for Asset. If you feel you need to improve in this area, score yourself an L for Liability.

Stage 2:  Developing the Business Relationship.

Stage 2 is about creating a strategic plan or vision for the long term. In your strategic plan, you set long-term priorities, list specific and time-targeted outcomes. Finally, you make a total commitment to the achievement of those specified outcomes. Your ability to convey your vision for yourself, the client AND the client company builds confidence and respect within the client that you can handle the engagement for the long term. Are you effective in conveying this long-term vision to your client? If Yes, score A for Asset. If you feel you need to improve in this area, score yourself an L for Liability.

Stage 3: Testing the Business Relationship.

This stage confirms and validates in the client's mind if the engagement is in fact a viable and beneficial relationship. How quickly are you making a noticeable impact on your client? Do you routinely ask the tough questions and probe the points of pain with your clients? Are you delivering measurable results within the first 30 days of the engagement? If Yes, score A for Asset. If you feel you need to improve in this area, score yourself an L for Liability.

Stage 4: Rolling Out the Relationship.
So, you've picked the low hanging fruit and created some short-term results. You have gotten your client out of their short-term pain. Now what? Your ability to create ongoing, incremental, positive improvement at your client company will determine your ability to remain in the asset column. Are you delivering consistent results to your client month in and month out? Be honest! If Yes, score A for Asset. If you feel you need to improve in this area, score yourself an L for Liability.

Stage 5: Feedback and Review of the Relationship.
How often do you hold a mirror up to yourself and honestly assess your own performance? Do you hold regular performance evaluation meetings with your client to ensure that your client is feeling supported? When performing this outcome review, does your client give you the feedback that you are making positive, measurable impact?  If Yes, score A for Asset. If you feel you need to improve in this area, score yourself an L for Liability.

So, how did you fare? Here is what your scores mean:

If you scored an L in Stages 1 and/or 2:

You may be having difficulty signing new clients because you are not effectively conveying your true value and the benefits to your prospects. Ask and answer this question, "How will engaging in the client and engaging with you specifically positively transform this business? Also,"Why should this prospect engage with you over ALL else?"

If you scored A's in Stages 1 and 2 but you scored L's in Stages 3 and/or 4:

Well done! You are signing new clients and creating short-term impact, but you may be experiencing short-term client engagements. Now what? You need to dig deeper. Dig deeper into your commitment to this client and deeper into the challenges that your client company faces. What consistent daily actions does this company need to take in order to achieve the long-term specified outcomes?

If you scored A's in Stages 1 through 4, but an L in Stage 5:

Excellent! Short-term impact combined with consistent results has yielded a happy client. To take this relationship to the next level, you must solicit feedback from your client. "Are you happy with the direction of the engagement thus far? How can I support you best going forward? What specifically needs to happen in order to make this a level 10 (on a scale from 1-10) experience for you and your enterprise?"  The answers to those two questions transition you from Stage 5 back around to Stage 1 as if in a clockwise rotation. By asking those feedback questions, you have placed yourself in the Asset column of Stage 5 and just initiated the next level of the relationship. Nice work!

If you scored A's in all 5 Stages:

Congratulations, you are providing ongoing positive benefits to the client company! According to your client, you are residing in the Asset column by building rapport, creating an environment of trust and respect, and holding your client AND yourself accountable to a higher standard by asking the tough questions necessary when growing a business.

Fellow colleagues, remaining a fixture in the Asset Column of your client's balance sheet is an ongoing process and a key to the long-term profitability to both your and your client's businesses. I wish you the best of luck in your quest to score all A's on the balance sheets of your clients!

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