Sales Bits: The Power of Partnership
- Denny
- Mar 5
- 3 min read
Partnerships are the backbone of any enduring business. In this Sales Bit, Denny reflects on the lessons learned from nearly four decades of strategic partnerships—both internal and with customers—and challenges us to consider how we cultivate trust, shared vision, and long-term value in every relationship.
From Denny Vander Molen, President of Vermeer MidSouth and Founder and CEO of Jackson Endeavors
I am continuing the story of how we got here, nearly 38 years after our company's birthday on 2/1/1987. Today, we remember partnerships.
"The best partnerships come from people who have their own interests and talents, yet actively understand, remember, and appreciate each other's interests and talents." Heidi Reeder was an author.
After a trip to Memphis and Jackson areas for additional discovery, primarily around a home for each of our families, the process of understanding and counting the inventory of parts, used and new inventory, shop and office supplies, and various other items had to be done. Wendell and I had pretty much agreed on our relationship, ownership, and who would go where to settle down. Linda and I had already lived away from family for 5+ years, so Wendell and his family took over the Memphis trade area, and my family headed further south to Jackson.
Common goals are essential in a partnership. Compatibility with complementary skill sets isn't necessarily a good indicator. Compliments should be the measure of strengths and weaknesses in the skill set and personality. What mattered here was the divesting of an equal share of the risk before the delayed growth and reward was ever realized.
In the five years together, we experienced some early success, even in the first year: a book profit, but little to no cash. We added a startup branch in Russellville, an acquisition of Middle and East Tennessee. We also added two partners, making us a partnership of four for only a year. That didn't last long, as a year in, our collaboration with Wendell was severed.
Harv and Mel acquired a share in the company and assumed manager roles in Cordova and Russellville, respectively. Growth was year-over-year for us. The product offered evolved from stump grinders, chippers, rubber-tired, and a few track trenchers. In the nineties, HDD was in early development, and we had the human resources to support that industry. 2000 was a very challenging year for backbone fiber, which took a serious setback. Fiber-to-the-home had not yet begun, leading to HDD dropping by nearly 90%. Partnerships were strategic and essential, but strengths and weaknesses were becoming apparent.
Harv retired in 2007. Mel retired in 2014, and a year later, he passed away.
Partnerships are indeed strategic in forming an impactful business enterprise. Some are for a season, while others can be a lifetime of challenges and rewards.
How are we building up partnerships with our customers? Partnerships, after all, must be selfless, hardworking, strategic, visionary, and growth-driven. Customers must expect the best from their vendors. VMS and the team must expect respectable, prompt, diligent, and honorable customers. Some have been customers for most of these 39 years, while others have been for a season—a pretty good topic on the lifetime value of a customer.
Do we view our customers as partnerships?
Do our customers view us as a great partner that offers the best value, solutions, and responses?
What will you deliver for a long-term relationship?
After all, the partnership is with you as sales, you as parts, you as service, or you as administrative support. Our partnership with those we serve well will establish real growth for us in the future. That should be our focus! It should be our mission! After all, it is on us, individually. The question again is, "Are we the kind of partnership that a customer wants?"
"Be ye not unequally yoked together with unbelievers: for what fellowship hath righteousness with unrighteousness? And what communion hath light with darkness? II Corinthians 6:14
Have a great sales week!
Comments