4 Steps to Establishing Good Business Relationships

Building relationships is one of the most crucial practices that contributes to the success of any business. A business can distinguish itself from the competition by its ability to build strong ties and productive relationships with their clients and strategic partners.

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The question becomes not one of whether it’s worth the investment of time and money, but rather how to approach these investments, so they better serve the interests involved.

Identify Needs

In the same way that your clients are attracted to your business for its ability to respond to their needs, businesses are likewise looking for partnerships that support their interests.

Your ability to identify these needs will assist you in providing timely solution, put you at an advantage over the competition and help you close more business deals. Take the time to look at things from the perspective of the companies you do business with. Make an effort to understand the needs of their end-clients and customers and reflect those needs in how you approach those relationships.

Avoid Use-for Gain

One of the surest ways to not hear from a contact is to give the impression that you will be glad to work with them on the sole basis of what you stand to gain. Of course there’s something in it for you, that can almost always be assumed. But it can’t be the crux of your dealings — relationships that are not mutually beneficial are surely short lived.

Business relationships flourish when partners recognize the importance and need for each other, and can work as equals. To this end, you’ll need to be patient and remember that you’re not just solving a problem or buying something, you’re growing lasting business relationships and lasting relationships take time and effort.

Provide Honest Value

Honesty is always the best policy in business. The relationships you build with your clients and partners depend, in large part, on how sincere you are in proposing and providing real value that meets their expectations.

Offer your services at an appropriate cost and go the extra mile for your clients and business contacts. Set reasonable goals surrounding your deliverables and make sure to communicate those goals and meet them — this is the kind of behavior that encourages trust and loyalty. Lean on project and management solutions like Scoro Software to help keep projects and tasks on time as well as set and communicate reasonable expectations. Over time, you will have built yourself up as a business partner that can be relied upon.

Educate, Promote, and Connect

The guiding principle of building and maintaining a rewarding relationship with businesses and clients is to treat them as a priority and to make their goals a part of your goals. It’s been said that you will get everything you need if you care enough to help others get what they want.

Sometimes, this can be as simple as a little information or insight. Take it upon yourself to properly educate and connect them to a useful resource. Perhaps you can even recommend them to other businesses you engage. The fact is that by promoting their cause as though it were yours, you can be sure you will far surpass their expectations.

Oscar King is a freelance writer and small business owner who contributes articles and insights into the business community as well as the challenges faced by the small business operator and aspiring entrepreneur.