ANITA COBBY

COMMENTARY
YOUR
NEXT
EVENT
A case study
in transparency
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EXPOSURE
WE often work on deals that result in
a payment being due to us based on
a percentage of business written by
our clients. Therefore, our business is
very much based on trust.
So where does that leave us if a client isn’t
open with us about the volume of business
written as a result of our good work? Some
would argue that leaves us up a very brown
waterway with no way to manoeuvre our way
out.
But, does it?
We recently had a client contact us to
advise that he had written a large amount of
business as a result of an introduction made
by our team, and therefore required an invoice
from us so he could pay the commission
owed. What a nice Christmas present that
was!
At that time, we had no knowledge of
the deal being done by our honest client and
would have been none the wiser (in the short
term) had he not disclosed it to us.
That experience prompted this article, and
caused us to reflect on the concept of transparency
in business. What would you have
done in our client’s position? Would you have
disclosed the deal and cost yourself a great
deal of money or would you have kept it quiet
and held onto the commission owed?
We cover this topic at length in our
Mastering Introductions Training Program
if you’d like to know more, but here are a few
thoughts on the pros and cons of honesty and
openness.
• What do you stand for? In business
as in life, there are certain things we
place value on. Our foundational
beliefs and values guide our behaviours
and decision making processes.
If you say you stand for honesty and
truth, then walking that out in business
requires that you would disclose
the deal and pay the commission.
No compromise, no quibbling. Just a
straight disclosure.
• Who do you know? Our business
network is already of mammoth proportions,
and with over 30 Chamber
of Commerce memberships around
the globe, it is growing exponentially.
Chances are, at some point, your
exciting news will become gossip
amongst our network and make its
way back to us. Unless you have a
tiny network, keeping secrets may
not be an option for long.
• How are you marketing? Corporate
pride and founder ego aside, some
news is worth shouting to the world.
Commercial opportunities come
from sharing your news but this
requires you disclosing certain information
to the marketplace. Timing
is the key of course, but if you can
gain a competitive advantage from
including information about past
jobs or testimonials in your marketing,
transparency will be demanded
beforehand.
• How do you want to be treated?
It’s always interesting to see how this
one plays out in the discussions in
our training. Would you expect to
be paid the commission owed in the
scenario above? We love the aha
moments that come from a realisation
that you do indeed, reap what
you sow. If you don’t pay your bills
when due, don’t expect people to pay
you! If you’re not honest with others,
don’t expect them to be hones with
you.
• Transparency fosters deep relationships.
Just as with any type of
relationship, business relationships
grow strong, deep roots when based
on a foundation of truth. In our line
of work, when we are making representations
on behalf of other businesses
in order to facilitate business
introductions, it is critical that we
know and trust our clients. A sniff
of untruth or deception will halt any
relationship in its tracks, requiring
effort and time to be invested in order
to overcome fears or misgivings
before moving forward as a partnership.
Some breaches can never be
undone.
• What to share and what to hold
back? We operate from a place of
100% transparency, and in order to
be able to represent our clients effectively,
we need that from them
as well. This extends to a range of
topics, and our initial meetings with
clients involve a strenuous questioning
process that helps us to truly
understand the ins and outs of their
business.
Items on our agenda include:
• Capability – how good are you?
• Capacity – how much can you do?
• Experience – what have you done
before?
• Education – what do you know and
where did you learn it?
• Value – what do your clients say?
• Needs – what do you need in your
business?
The decision to share or not to share requires
wisdom, but in our experience honesty
is always the best policy. If you would like to
learn more about Know My Business, please
visit www.knowmybusiness.com.au.
16 WESTERN SYDNEY BUSINESS ACCESS JANUARY 2016