Learning From Your Peers At Network!Network!
Network!Network! is a New York-based networking group for business leaders from all sectors.
The power of learning from others’ experiences is on full display each time Network!Network! holds one of its 12 monthly roundtables. One of our favorite parts of each meeting is what we call Around the Horn.
During the Around the Horn session, business owners help each other by detailing challenging situations they have faced. The other group members may ask questions to assure that they understand the problem, and then offer an analogous experience they have had, along with the manner in which they dealt with it so that the person with the problem can craft his or her own solution from the experiences of the others. Below we have selected two situations that members have experienced, along with suggested solutions:
Situation One: A member does not know what to do about a client who lies.
- One group member suggested the client be dropped immediately.
- Another member recommended issuing an ultimatum such as, “If certain conditions are not met, I will have to close your file.” If they need the value that your service provides, they will more than likely comply.
- Yet another group member pointed out that a project left incomplete because of the client’s deceit can harm a professional’s reputation.
- A final offering was that one knows pretty early on whether or not to deal with someone. They will tell you who they are. You just have to listen.
Situation Two: Pitfalls in retainer relationships.
- One group member said: “Work out in advance what you want to make from a project and have a tight agreement.”
- A different member made the comment: “Tech projects always take longer than you estimate, so you need to set expectations and meet a criterion for a successful agreement.”
- Someone else pointed out: Create a ‘Criteria for Success’ document, or a Statement of Work which clearly states who is responsible for which set of tasks. And articulate clearly and precisely the goals to be achieved. A retainer offers protection for both the contractor and the client.
As you can see, each meeting at Network!Network! brings up new topics and teaches new and valuable lessons. Want to learn more? Contact us here.
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