I have an arrangement with my dry cleaner. I bring in clothing, he cleans them, I pay. The arrangement works for both of us. We each know what is expected of us, we do it, and we both benefit.
In contrast, I have a relationship with certain business associates. Like my arrangement with my dry cleaner, my business associates and I know (generally) what is expected of us and we all mutually benefit from our relationship.
But arrangements and relationships are different.
Arrangements are tidy and business-like. The parties know what to do, it’s understood that they will do it, and it usually gets done without a hitch.
Relationships are untidy and time-consuming. There is an emotional element to them. The unexpected often happens, and the consequences can be seriously detrimental.
Relationships are deeper than arrangements, and stronger. Relationships are the foundation for building a strong professional practice. Arrangements come and go, but relationships can last a lifetime.
Do you have arrangements or relationships with your clients and professional contacts? Surely you have both. But unless you have a core group of relationships, your future success is on shaky ground.
If your clients hire you because you do good work and only because of that, your future business with them is as much "at will" as the business I give my dry cleaner. It would not take much to woo me away to another dry cleaner. One screw-up might be all it takes.
Who refers you business? Do you have arrangements or relationships with them?
Relationships are equity. If you work hard for 5-25 years and all you have to show for it are a multitude of arrangements, then every year you are starting over, and your income is as unpredictable as it was your first year.
You don’t have to develop relationships with everyone. You couldn’t even if you wanted to. Relationships are messy and emotional and require dedication and personal time to develop. You only have time to develop a few relationships, but a few is all you need.
