We at MedSpeed are continually working on how to best create high functioning business relationships, the kind that can be considered true partnerships (a word, in my opinion, that is among the most overused and misused in business).
The key to doing this is uncovering the areas and methods that can create value for both parties in the relationship. This idea led us to take interest in the Vested Business Model, a framework developed by Kate Vitasek, a professor at the University of Tennessee and someone whose work I admire and have cited before.
In one of Vitasek’s most recent articles, “The art of getting to ‘we’ in negotiations,” she discusses the importance of moving from the old-school “what’s in it for me” (WIIFME) approach to the partnership mode of “what’s-in-it-for we” (WIIFWE). WIIFWE changes the focus of a partnership from a deal to a relationship.Read More›