5 THINGS TO CONSIDER
Recently we were approached by an overseas travel company (no names given!) wanting to discuss the possibility of representation of their services to the UK travel trade. The request came through the professional networking platform ‘Linkedin’ and we agreed to chat the next day. The Zoom call took about 50 minutes and we had a positive discussion about the market and how we could potentially work together. At the end of the call, we were asked to provide a proposal in writing, as they ‘liked the sound of what we offered’. However, soon after the call some negative thoughts entered our mind and we politely declined the opportunity to proceed.
Later that day we had a call with a ‘friendly rival’ and had our usual monthly catch up chat. In passing the ‘friendly rival’ mentioned that they were soon going to start with a new client. They mentioned the region of the world and gave the first letter of the company name (we do like to be secretive!). Suddenly it became very clear that we were talking about the same company! Our ‘friendly rival’ (somewhat perplexed) then said: ‘That’s odd because we have already agreed terms and sent our contract to them yesterday!’.
As expected, this led to a number of questions from our ‘friendly rival’. ‘Why did they approach you when we have agreed terms?’, ‘How many other companies have been approached?’, ‘Do they really want representation or are they trying to get market information?’ ‘Were you offering a lower price than us?’ etc. As expected, major doubts were cast about the working ethics of this potential new business partner!
Now ‘business is business’ and it’s obvious that we can’t expect everyone to follow the ‘ideal world’ rule book. As a result, this incident made the team at Select Representation think deeply and pose the question …..‘What is it that makes the perfect business partner?’
There were 5 key points that sprung to mind, as follows:
Reliability: A business partner needs to share your passion and ambition, challenge you, and bring in new skills and ideas. Trust in each other is imperative for the partnership to fully flourish and if there are any doubts…. then problems will come. From our experience, a lot can be learnt in the early contact with each other, so it’s vital to spot any red flags before the partnership progresses. For example, if they constantly cancel meetings, reschedule at the last minute or provide inadequate answers to questions, then that’s probably a bad sign and one to avoid.
Values: They often say that opposites attract. However, if you’re teaming up with another company, working with like-minded people is usually key to a healthy relationship. Make sure that you find a partner that shares the same philosophy, as far as company culture, market strategy and working ethos. It’s also very important that the end user’s desired requirements are fulfilled (and more), as slow response times, poor quality service, lack of creativity, lack of clarity etc. will only lead to failure.
Supportive: It probably makes more sense to label this as teamwork. The definition of teamwork being the collaborative effort of a group to achieve a common goal or to complete a task in the most effective and efficient way. Success is not achieved without people giving each other support, providing sympathy or encouragement. It’s so important for people to work together and not against each other. It goes without saying that you get more out of a relationship when both parties are helping each other. One way support …..will end in disaster.
Communication: Good communication skills are key to success in life, work and relationships. Without effective communication, a message can turn into an error, misunderstanding or even a mistake if misinterpreted (maybe lost in translation) or poorly delivered. Here at Select Representation, we have seen that clients who communicate with us regularly, clearly and appropriately tend to have get the best results. Conversely, those that are not great at sharing information or react slowly to opportunities typically get less from the partnership.
Financially Stable: You’ve done the work. You invoiced the client over 30 days ago and you’re still waiting for payment a week or so from the invoice deadline. It’s time to chase but you feel awkward about it. Why? Slow payment can be the downfall of a business relationship, so make sure the terms of your agreement are adhered to. It’s often the same culprits who are late paying each month and there’s always an excuse! Let’s be clear, paying on time certainly helps a business partnership.
Yes – there are many other elements that help create a successful working partnership. Ultimately, it has to be a ‘win-win’ for both parties or everybody will be wasting their time and money. You will be pleased to know that our ‘friendly rival’ withdrew their contract offer ….much to the displeasure of the untrustworthy travel company!
Select Representation is a travel sales & marketing representation company, headquartered in the UK. The perfect option for hotels and destination management companies (DMC’s), wishing to expand their business from the UK, Ireland, Belgium, Netherlands, Norway, Denmark, Finland, Sweden and Iceland. Founder member of Global Travel Representation Alliance.