The phrase ‘it’s not what you know, it’s who you know’ is very relevant to business. Your business partnerships can either make or break your business, so working on creating strong relationships is key. Whether you’re building relationships with your employees, suppliers, or business partners, you need to understand just how important it is to build and maintain strong relationships now and in the future.
What does your startup need to do to create strong business relationships? Read on…
Diversify Your Networks
You need to get out of your comfort zone and force yourself to build connections outside of your immediate circle. See if you can nurture a relationship with at least one customer, supplier, and a competitor. You should then seek out people from other organizations that could be relevant to your business.
Give What You Want To Get From Each of Your Relationships
Your relationships need to go both ways – you need to give what you want to get. Offer to go above and beyond in order to build your relationships. Help people, connect people with one another, and share information. Others will be more willing to respond this way when you need help yourself.
Spend Quality Time On Key Relationships
Make sure you identify your key relationships and aim to spend quality time nurturing them. For example, make an effort to spend more time personalizing interactions with your key customers, as well as leaders who could make a big difference to your organization. The relationships you spend the most time on will generate immediate returns for you in the long run.
Apply Your Time, Brand, And Resources To Social Issues
Ideally, the network of relationships you’re spending the most time on will be people with shared interests, beliefs, and ambitions. Collaborating with them on helping social issues will turn them into advocates for your brand.
Edit And Reshape Your Networks Regularly
You need to ensure you are nurturing the relationships that are critical to your business regularly. However, you also need to ensure you are editing and reshaping your networks, too. If a contact is no longer useful to you, you should push them into your inactive network. Regularly identifying new relationships that could be viable is crucial. You might find that an ac do power supply manufacturer is viable to your business and a supplier you once had a relationship with is not. Keeping your network current and useful will stop things from getting confusing for you.
There’s so much more to remember about building strong business relationships. Here are some further pointers you can use:
- More relationships are not always better – be selective about the relationships you form.
- Over investment in relationships could take time away from developing your business – find a balance.
- Introducing new elements to your network will allow you to find new perspectives, new experiences, and positive change.
You need to look at your business as a community, not an island. Build strong business relationships and review regularly for the best results!