Today, more than ever, it is essential to set rules for engagement before accepting any business, especially with a need to promote another. Otherwise, the next step could be to seek legal advice. We want to avoid getting caught up in a scam or helping another with a project that is not as initially projected. Before accepting any offer that may intrigue us, we must research before agreeing to a partnership.
My Story
Routinely offers to buy a business, promote the work of another entity, or collaborate with new people come to my attention. Most offers are easy to decline as they do not meet my goals and will only eliminate the time necessary for achieving them. In other cases, I either need to gain the knowledge required to succeed with the offer or desire to consider the opportunity. In these cases, it is easy to decline the requests.
My first step is to schedule a conversation to learn more. When someone approaches whose demeanor almost matches mine in an approach, the behavior catches my attention. However, I forewarn the person that I have many questions that require answering.
Upfront, I may be excited about the proposition, but it’s best to begin by gaining insights from those already established in the industry. I lay out the opportunity before me and ask if they know the people and the company they represent. The primary concerns are:
- The business in question aligns with my priorities and goals.
- The company has a solid reputation.
- Our principles for conducting business match those of one another.
Detective Work Upfront
I will thoroughly research a website to gain further insights before speaking with someone about the possibility of partnering. Typically, the About Us page will indicate the team members, insight into their experiences, and what they hold essential overall. Next, I do a Google search to learn more about their work and if the company is legitimate. Should they partner with other firms, I will research those too. Although I may want to participate without hesitation, I know better and proceed to do detective work before making any agreement.
Most importantly, before the conversation, I will ask those I know well and are well-known in the same field as the company in question if they know the business. The people I confer with have a wealth of experience in their expertise. Accordingly, if a company name is unfamiliar, that lessens the enthusiasm. And when another company is in the startup phase, given today’s news, caution sides with the idea to wait until it proves itself successful and familiar before proceeding. I check for agreement on whether that will work for the other party.
Detective Work for Sales
Detective work also applies to dealing with prospective clients. The salesperson is responsible for becoming familiar with as many aspects of their work as possible. Upon analyzing a conversation after the fact, I would frequently call my prospect the following day. My opening line was to say, ‘I was thinking about you to realize I have one more question,’ and then ask permission to proceed. My teammates would refer to me as the Columbo detective of sales.
Your Story: Set Rules for Engagement
If you know the feeling of being sorry about an agreement with another that seemed to enter a sinkhole, then you are the first to realize the need to set engagement rules. Values and priorities come first. But next, the research on many levels requires time and thought about whether the necessary effort to make it a success is likely a good decision.
Reviews can be ‘iffy’ depending on whether an opposing reviewer is honest or doesn’t want a competitor as good as the one in question. Therefore, asking those you know in a similar field their thoughts upfront is best. Then research the industry and the competitors of the business making the request. Note the similarities and differences to determine whether you admire the company.
An effective collaborative effort is frequently the differentiator for being successful. On the other hand, not being selective can lead to a downhill slope, only to regret ever saying yes. Consider the suggestions above to realize where you may improve your approach the next time an exciting offer comes. The point is to ensure it’s exciting and will prove successful.
In Conclusion: Set Rules for Engagement
Today, more than ever, it is essential to set rules for engagement before accepting any business, especially with a need to promote another. Otherwise, the next step could be to seek legal advice. We want to avoid getting caught up in a scam or helping another with a project that is not as initially projected. Before accepting any offer that may intrigue us, we must research before agreeing to a partnership.
