Are you a "Transactor" or "Transformer?"(how do you know?)

Are you a Transactor or a Transformer? How do you know?

Last week I did something unusual. I turned down an opportunity of new business for 4BOX.

Invited by a potential new customer onto a short video conference meeting - I was politely asked to submit a proposal, but after reflecting on the meeting and their process I respectfully wrote back to explain why 4BOX ?wouldn’t be engaging with them on this occasion…and despite the angst many of us might feel from saying “thanks but no” to a new opportunity …this time, my word, it actually felt surprisingly good.?

I didn’t turn the opportunity down just because of 4BOX's pleasantly busy order book (as nice as this is, we will always find room for new partnerships).??I didn’t turn the work down on price sensitivity (we never even talked price). No. ?I turned the work down because our 4BOX values were not aligned with their procurement behaviour.

This prospective client was [commendably] open with me on their plan - to approach us and also range of other suppliers (with a exceedingly thin brief) and ask each supplier to pitch some deeply fleshed out plans for them - which they intended to distil and decant with a senior colleague, before deciding to reward one of their crowd sourced helpers with an actual contract. They had their plan.

For them, this was a clear and reasonable transaction. What they didn’t see (or seemingly value ) was the experience for their potential supplier/partner. The supplier’s time that would be spent, the intellectual property and copyright methodologies shared, or even the lost opportunity and time that might be spent with other more engaged clients.??

Their transaction was one way - it was unbalanced…and our 4BOX values prevents us from working that way.

Our 4C values (Clarity, Courage, Catalyst & Care) - is our compass – and this compass simply won’t allow us or our clients do wasteful (or even dangerous) things. We exist as transformational partners, not transactional suppliers.

Now - some readers here, might view this prospective client’s approach as entirely reasonable – afterall this was their process – their investment, their plan to secure a quick and sound solution in their busy world, all with minimal investment or risk.?To draw ideas from the market, best one wins, and business will transact (there’s that word again).?Some here may even view their approach as smart. That’s ok – please do read on - and lets see if we can find a thought or two to help you change your track.

So why is Transformational Partnership so much smarter than Transactional supply (and more to the point how is it different)? Some thoughts for you:

1.??????“Suppliers” exist to protect their contracts, “Partners” exist to protect their clients.

2.??????Transactional relationships are shallow, transient and are unconcerned about building the loyalty and support that will be needed for longer term, accretive benefits (and occasionally on call help in the odd crisis, when tougher times arise). ?

3.??????Transactor Suppliers never “over invest” in their customers, their focus is short term customer satisfaction at agreed cost not customer delight at reasonable cost. For Transactor Suppliers- its illogical to offer more than they said (as their customer has already said yes). Transformer Partner logic looks for customer delight – they seek and measure moments where the customer actively tell others about what just happened, when their client takes joy and (quite rightly) shared credit for a job delivered exceptionally well.

4.??????Suppliers rarely tell you what you need to hear – its just not in their interests?as protecting their contract is their survival first instinct.?Partners have courage to tell you what you need to hear – protecting their clients is their growth instinct. (See our 4C value #2)

5.??????“Transactors” exist on a ‘time for money’ basis, “Transformers” exist on a ‘time for value’ basis. We can see this in how Transformers factors in and offsets up front time and energy into a longer shared journey, not just short steps - put simply here the savvy customer gets far more, sooner.

4BOX loves working with companies that are open to Transform, that embrace our values of Clarity, Courage, Catalyst thinking and Care. We regularly spend many (at no cost) hours with a new partner initially to ensure the relationship and the end goal plan is right, before we start commercial work - we do this trustfully, not transactionally. ?We find our clients prefer it this way too.

Its important for me to say here - when I said no to that prospective client – we also didn’t do this in a transactional way - I spent over an hour carefully constructing my message.??I told them why and explained our value challenge – we told (our) truth fast to help them understand but more importantly avoid wasting their important investment in future (see our 4C values #s 2 and 4). ?We wanted the experience here to be helpful for all sides.

?Who knows this client may one day approach 4BOX again in a way that presents smart value for all sides …and if they don’t, well that’s fine too – not everyone’s compass takes us down the same path.

My final observation - and learning – whenever you doubt your direction, check your compass.

And …if you haven’t got a compass – call us. We will help you find it www.4box.co.uk/strategy

Author: Carl Fitzsimons, Managing Director, 4BOX Consulting Ltd

www.4box.co.uk/about-us ?E- [email protected]?T: 07500171439