Basics Of Building Business Relationships
Basics of building business relationships. Given the current economic state, and the entire situation with the ongoing Covid-19 pandemic, business relationships are more important than ever. This is because these are the respectful associations we turn to for support, introductions, referrals, advice, or to share resources.
When built properly, business relationships are filled with riches. No matter how advanced the technology, the ability to connect in a way that fosters trust and supports business success is still dependent upon three key factors:
- Network – who you know and who knows you
- Reputation – what others know and think about you
- Relationships – how well others know you and your day to day interaction with them.
The most important factor is relationships. Building relationships is a basic business-building strategy that easily gets lost in the quest for victory. However it’s the nature of the connections between you, as the business owner, and those you encounter, that dictate your entrepreneurial reputation, as well as, the success of your business.
What does it take to build long-term successful relationships?
As an entrepreneur, allow for thoughtful planning to consider a few straightforward approaches to deepening your business associations:
- Connect with key relationships on a consistent basis.
- Continually add value and appreciation to each relationship.
- Learn to contribute to others rather than seduce or hook them.
- Make relationships more important than results.
- Leverage your schedule to allow adequate space and sufficient time to expand relationships.
- Send thank you notes, birthday cards, letters of congratulations, or hand-written notes of encouragement and support.
- Be present when speaking with others whether it’s by phone or email — and especially by video conference.
- Correct miscommunication immediately.
- Relate to others as you would like others to relate to you.
- Invest in your personal development to increase your personal capacity to relate.
