You're faced with a client demanding exclusivity. How can you expand your networking horizons?
Curious about balancing client demands and networking growth? Dive in and share your strategies for managing exclusivity while expanding connections.
You're faced with a client demanding exclusivity. How can you expand your networking horizons?
Curious about balancing client demands and networking growth? Dive in and share your strategies for managing exclusivity while expanding connections.
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??When a client demands exclusivity, it can be challenging to balance that relationship while still growing your network. Here's a few strategies to expand your connections without compromising that exclusivity: ?? Diversify into adjacent industries ?? Share insights through thought leadership ?? Build partnerships outside your client’s scope ?? Attend industry events for new connections ?? Explore new markets to grow ?? Keep expanding while respecting exclusivity
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As Simon Sinek says, "Everything comes at a cost." And I would add, is dependent on the leverage dynamics within the relationship. When clients request exclusivity with me, I require a retainer, commensurate with the opportunity cost of being a "free agent." Or, if the exclusivity is limited to a certain limited niche and predetermined time period, I will request a deposit as earnest money. Exclusivity comes at a cost.
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When a client demands exclusivity, it can feel like a tricky situation. On one hand, you know that committing to exclusivity can build trust and strengthen your relationship, but on the other, you might worry about limiting your networking options and potential growth. I’ve been there myself. I had a client who insisted on exclusivity, and while it did bring us closer and created a strong partnership, it also meant I had to put my connections with others in the same industry on hold. To make it work, I negotiated specific terms, like setting clear timeframes, and I made sure to explore new connections in other sectors to keep expanding my network. It wasn’t easy, but finding that balance.
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I would say, exclusivity can be given if it makes business sense, while maintaining the network. There should be agreed time period and commercial terms and like wise if the terms are not met, then withdraw exclusivity. Business and commercial sense should preced exclusivity
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Well I see, it's an opportunity to diversify your network creatively. While honoring the exclusive agreement, seek out non-competing industries, attend diverse events, and engage in thought leadership. Collaborate with others on shared interests or social causes, which fosters genuine connections beyond business. This way, you expand your horizons, build a well-rounded network, and maintain a balance between exclusivity and growth.
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