Are you shopping hungry?

Going into a supermarket hungry can be a big mistake; being surrounded by shelves of tempting treats can frequently lead to unnecessary purchases. The chocolate bar you pick up just before the checkout may seem like a good idea at the time, but in truth you never intended to buy it, it’s not nutritious and it’s not filling. Having a clear idea of what you want and sticking to it should be the strategy, but succumbing to short-term desires can often be the outcome.

In a business context, ‘shopping hungry’ might result in suboptimal stakeholder relationships that are established quickly, without proper consideration of the company’s driving values. This can be easily done, particularly during growth phases, as an organisation looks to expand. Although these relationships might be useful for the short-term, the disparity between your ideals and theirs will ultimately be unproductive.

For clients and customers this lack of alignment could result in a negative return on investment; for employees, this could well influence their dedication to work and with suppliers this miscommunication can cause error and unreliability. Therefore, it is imperative you create ideal personas for each of these groups, so you only participate in relationships that propel your company forward. Have clarity on the traits you admire – make a shopping list.

Once you have identified the values you want to see fulfilled, the next step is to communicate them effectively. Ensure your organisation is demonstrating these ideals. This will (1) attract stakeholders that already possess these traits and (2) show the people you already work with that this is the example to follow. A business with a strong identity is not only more attractive from the outside, but will also have greater enthusiasm within.

True alignment between business and stakeholders can only be achieved if continuous assessment is taking place. Use your feedback channels and data to consider which of your relationships are productive, which need further stimulation and which should be abandoned. This might present some difficult decisions and frank conversations; however, these must take place if your company is to mature effectively.

Finding the right stakeholders, who align with your values, is an investment worth making. Engaging with less suitable people might seem simpler at first, but ultimately these relationships will not serve your company well, and at some point in the future, you will have to go and replace them.

Don’t shop hungry; shop diligently. Make sure to get what you need.