Business relationships are a huge part of success for any business — big or small. Focus on networking and personally connecting with other enterprises and your customers. There are three main types of business relationships: B2B, business-to-consumer (B2C) and internal relationships with co-workers. Loyal employees are central to steady profits and increases, and issues with retention can cost tens of thousands every year.
According to Gallup research, the keys to good B2B business relationships are communication between each company’s senior leaders. Be open about your expectations and what you want out of the relationship and come prepared with a list of your wants and needs. Be honest about what you can and can’t do, and be prepared to adjust to unforeseen circumstances on either end to keep the relationship strong.
You can forge a new business relationship in a few days, but strengthening that relationship, learning to trust one another completely, and even proactively looking after one another’s best interests will take time. If a long-term relationship is your plan, you may need to sacrifice some of your personal objectives to invest in your shared goals. Be creative with your problem-solving and know when to compromise.
Don’t just connect with people on social media. If you’re going to reach out to individuals on those platforms, follow up and engage with them. Make sure everyone who interacts with your business relations knows how they should behave. Keep your brand identity consistent. If customers have the same positive experience whenever and wherever they encounter your company, it proves you’re professional and authentic and builds trust.
All of your employees should provide the same positive experience for every customer you have. Treat interactions with customers with just as much attention to detail. Follow up via email a day or two after providing a service to make sure the customer is happy with everything. Don’t neglect the vital relationship that you have with your employees. Keep them in the loop regarding your business relationships as much as possible.
Mentors are experts in their fields, leaders in their communities or just general business gurus. Their advice is objective, well-seasoned and based on tried-and-tested business methodologies and practices. Mentors expand your viewpoint, helping you to see multiple perspectives on problems. They can help guide you toward a long-standing solution that ultimately encourages your business to grow and succeed.