Typically, the common denominator among all entrepreneurs is their ability to build extremely positive relationships with everyone from the get go. They know the importance of having great relationships with their employees, customers, suppliers, associates, investors, financiers and just about everyone that has an involvement with their business. What’s more, they also know the importance of maintaining these close relationships.
Some of the biggest and most successful businesses have failed because, what were once positive relationships, had been worn down and neglected. That is why it is so important to build and maintain great working relationships, no matter what business or sector you are operating in.
But if you still don’t believe us, then read on see why for yourself.
Communication Skills Can Be Improved
Communicating is a skill that needs to be worked on, developed and improved, which can be achieved through building relationships. By interacting frequently with suppliers, employees, customers and business associates, you will get the chance to sharpen your skills and boost your confidence. This will be vital for your future growth as it will allow you to build bigger relationships without succumbing to the nerves of such an occasion.
Repeat Business Means Success
Loyalty is the secret ingredient to success. Let’s start with suppliers. By building a strong relationship with your suppliers, your business will become more and more valued. It could be that they go above and beyond to get a large product order to you on time, it could be that they can offer their calibration services with a quick turnaround, or even provide you with a loyalty discount. All of these will make you more competitive. Moving onto the customer, there can be no success with one-time-only deals. Success comes from a large pool of loyal, repeat customers, and this can easily be achieved through regular communication with your customer base.
A New Found Fulfilment
There is no denying that business tends to be about one thing and one thing only; money. But that doesn’t mean you can’t harbor bonus fulfilments, the kind that comes from establishing and maintaining great relationships. Profit is often short-lived, especially in terms of emotion. But by building a lasting relationship with those attached to your business – such as that achieved by the former head of Disney UK, Robert Mitchell, and his long-time right-hand man – can be far more fulfilling, and the thing that motivates you to build even more relationships.
Teamwork Makes The Dream Work
Success comes from one place, your employees, yet all too often business owners overlook them. However, by building a healthy relationship with your employees – treating them with respect, appreciating their successes and motivating their abilities – you will see a direct impact on the productivity, quality and commitment levels. The more they want to work for you, the more they will contribute, which will mean the more you succeed.
Customer Relationships Will Become Stronger
Unfortunately, the nature of business means that things will go wrong sometimes. You will let down your customers. It can’t be helped. That is why it is so important you fix whatever problems may arise, and the best way to do this i to be quick and transparent with your communication. Getting things wrong doesn’t infuriate customers and clients, poor customer service does, and that can be mended with good communication.