The Realities of Business: Millionaire Matchmaker Edition
Patti Stanger, owner of The Millionaire’s Club, is known as the Millionaire Matchmaker. On her reality TV show of the same name, she helps millionaires who are unlucky in love find meaningful relationships. From watching her show and thinking about her expert dating advice, we couldn’t help but notice how similar business relationships are to dating relationships. What’s especially interesting to us, is how Patti’s advice for the unlucky in love is also good advice for young entrepreneurs who are just learning the do’s and don’ts of working with clients and customers.
Just like Patti, who started The Millionaire’s Club many years ago, we’ve been in business for a long time. We’ve learned some things along the way (sometimes the hard way) about how to manage relationships with those we’re working with. So with some of Patti’s sage advice as inspiration, we bring you the five commandments of client management.
No nookie before monogamy
We all know this is rule number one for dating, but it should also be rule number one in business too. No work on any project should begin without a signed contract, no matter how excited you are to get started. If a client likes what you’re offering and values your services, they’ll put a ring on it!
Thou shalt return calls promptly
Patti says to always be prompt when returning calls, and we think that’s great advice. Busy people get upset when you don’t return their calls. It’s important to recognize that even if you’re busy, the other person might be just as busy as you are. So, we always try to do them a solid and be prompt when returning calls. It shows respect for their time and also communicates that we are interested and invested in their project.
Thou shalt honor thy dating commitments
When you’re on a date, be on the date. Be present and interested while you’re there. Same thing when you’re at meetings. Be engaged in the conversation and ask pertinent questions. It might seem like basic stuff, but we are consistently shocked by how many people take other calls and text while they’re in meetings. It’s extremely important to be wholly present. The relationship you’re trying to build with that client depends on it. It doesn’t make you look like a baller to take other calls. It just makes you rude and it turns the client off completely.
Thou shalt not be a gold digger
Don’t date someone just because they’re wealthy and never try to sell a client a product or service they don’t need just to get money out of them. It’s unethical and it’s a guaranteed way to make sure that they’re not coming back to you when they truly need something. If you’re not delivering value and solving real problems for your clients, you’re cheating them, and yourself out of opportunities for success.
Thou shalt be focused and positive
Nobody wants to go out on a date with a cranky pants. This holds true for business relationships as well. Even when dealing with a difficult client, always be positive and stay focused on the end result and what you need to do to get there. Sometimes, clients are less-than-cooperative even though they hired you to do work for them; they make it hard for you to actually do the work! This may be frustrating and confusing, but always keep it positive. Lashing out in frustration will get you nowhere. This is not to say that you should be a doormat, but keep a professional tone even when you’re at the end of your rope.
In both love and business it’s crucial to command respect, be attentive, honor your commitments, be honest, and always try to keep your interactions positive. Any type of relationship requires nurturing and mutual respect in order to be successful. Keep those things in mind and who knows, maybe you’ll even catch yourself a busy millionaire who just loves working with you!