Book Review – Business Relationships That Last – Ed Wallace
This is a book review of Business Relationships That Last by Ed Wallace.
How I got the book:
Electronic review copy was sent to me on behalf of the publisher (sorry it took me so long to write this, Greenleaf Group Book Press).
Background:
Ed Wallace is the Chief Relationship Officer of The Relationship Capital Group. He has many years of experience in sales and business development.
Business Relationships That Last – 5 Steps to Transform Contacts into High Performing Relationships is quite a timely book in this age of social media, networking, trust agents, and generally behaving like a decent human being.
This book focuses on a key concept called relationship capital, which resembles the concepts of the emotional bank account (as per Stephen Covey) or the Whuffie Factor (as per Tara Hunt via Cory Doctorow).
This book is divided into three main parts:
- Part I: What is Relationship Capital?
- Part II: The 5 Steps to Transform Contacts into High-Performing Relationships
- Part III: Action Planning
The strengths:
This is a decent, but somewhat narrowly focused, book. Wallace uses the character of Max, a taxi cab driver who is much more than he seems, as a means to illustrate the power of relationship capital. There’s a good section on relational blockers, which are reasons why you might not be developing good business relationships. The Relational Ladder, a diagram used throughout the book, emphasizes the importance of soft and hard skills. It also shows the stages of building a business relationship where, believe or not, the sign of a highest level performing relationship is your ability (and comfort) with asking your customer for help. There’s also a section on a Relationship Quotient and some exercises that help you figure that out and apply it to your business relationships.
There’s no question that this is important stuff – it’s getting easier to do things on your own on the Web, but it’s getting harder to do them in an excellent or remarkable way without developing relationships with other talented folks. Chris Brogan and Julien Smith talked about the power of relationships within Trust Agents and this book focuses on that piece of the puzzle in much more detail, although slanted towards sales.
The areas for improvement:
The main suggestion that I have for improvement is that this book would have been more useful by looking beyond relationships with the ulterior motive of making your monthly sales quota. I think the concepts beyond this book should go beyond filling your month end sales order form: maybe that’s an idea for a follow-up book.
Also, I was turned off by the Action Planning section. I felt I like I was getting account management training which, while it’s not a bad thing in and of itself, was a bit too focused on that kind of thing. Might be great if you sell widgets, but that’s not my interest.
Finally, there was a very overt plug for the author’s company, website and services. I think the first hit is free, so to speak, but I’m sure that this book is a “funnel” to bring in additional business. And that’s fair game, no question: every author has their own reasons for publishing a book. From my vantage point, however, it soured the book for me.
Other points of interest:
I really do enjoy the character of Max, the Jedi Master cab driver. Well, he’s not really a Jedi. But still…
Verdict (out of 10): 7 (worth getting from the library; good ideas about how to build better professional relationships, but seems to be focused towards the widget salesperson.)
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