Working with LendingClub: 3 Tips for creating lasting Business Relationships
Written By: JoAnne Tobias
Commercial construction has unique challenges. First you need to create a shared vision among architects, owners and builders. Then you’ve got to layer the work of multiple trades and make sure every project, no matter how complex, gets done on time and on budget.
But, even if you’re not in the commercial construction industry, your business faces our favorite challenge: meeting clients’ high expectations at every stage of the process. The cost of failure is high: according to a recent study by Oracle, following a poor experience, 89% of consumers began doing business with a competitor.
Learning From LendingClub
LendingClub connects borrowers and investors through its online marketplace. As the world’s largest peer to peer lending platform, they needed to steadily expand their headquarters in San Francisco. For almost a decade, Source and LendingClub have had amazing collaborations, including major buildouts which have spanned 20 floors on two of their San Francisco buildings.
“Building trust is about getting to know your clients…”
- Dave Bollentini
We took a look back and found three key tips that any business can use for creating a lasting business relationship.
Tip One: Dig Deep and Become Indispensable
Dave Bollentini, Source Vice President and Director of Project Management, said, “I’ve worked with these buildings since 2012. We know their buildings and build-outs better than anyone. We understand the evolution, from why they need to build rooms a certain way to how the audiovisual needs to get laid out.” Sometimes it’s the most complex projects that deliver the biggest sense of satisfaction. “What’s a successful project?” asks Bollentini. “When everyone walks away thinking, I’d like to do that again.”
Tip Two: Use Every Interaction to Build Trust
All people have a natural desire to connect. Everyone at Source, from laborer to executive, takes great pride in building strong relationships. Doing solid work is simply an extension of treating people with respect. “Building trust is about getting to know your clients, their needs and wants. You need good communication to know what the desired outcome is and how the space should look. You’re only as good as your last job. You maintain trust by always doing what you saying you're going to do.”
Tip Three: Create a Culture of Collaboration
Just as LendingClub transformed the investment industry by making it easier for borrowers and lenders to connect, Source removes typical barriers to collaboration. “We bring in the super during the planning phase to help figure out the true costs and bring the numbers closer to accurate,” says Miguel Garcia, Source Superintendent. “If they gave another contractor that job, by the time super gets the papers, he has to wrap his mind around what he’s building. But since I’ve been in the planning sessions, I’m already knee-deep, I’m already running that race. That’s why we’re called Source Planning & Construction- good planning always comes first.”
Work with Commercial Contractors who care as much as you do. Contact us about your next project.