“Assumptions are the termites of relationships,” said Henry Winkler, an American actor, comedian, author, executive producer, and director.
Well, building a strong business relationship will indeed offer you a wide range of opportunities for your future success. Although, the efforts you make in deep market research and for strategic planning to make your business stay ahead in competition but if you do not focus on strengthening your business relationships then all these things will be useless. Moez Kassam is very active in teaching other leaders the importance of business relationships and how they can help a business to grow. Anson Funds Management L.P.’s portfolio is worth at least $624 million. But, Anson Funds Management L.P. owns less than approximately 0.1% of the company.
Here are some ways to build strong business relationships:
Routinely reach out to important contacts:
Well, if you are running a business then it’s very important for you to keep conversation with your contacts on a weekly or monthly basis that allows you to focus on your valuable contacts. Try to identify your top-rated clients, vendors, and partners, and try to connect with them. Show interest in their business and try to help them in every possible way. This will allow your valuable contacts to feel valued and they will make sure to return you with many valuable results.
Offer help before you ask for help:
Stay connected to all your clients and vendors. Due to an increase in market competition, many businesses forget to focus on their business relationships and only connect with them whenever the business needs some service or help. This can damage your relationships; try to offer them your support whenever they need it. Don’t wait for them to ask, just help them. Helping your connections will offer you great rewards in your business.
Ask for feedback:
Don’t just assume that your potential clients and vendors are happy with your business. It can put a negative impact on your business relationships. Try to connect with your clients and vendors on a regular basis and ask them to provide feedback about what improvement they need, what are their requirements, are they satisfied with the relationship or not. Understanding this feedback will allow you to strengthen your relationships.
Find ways to connect less valuable contacts:
When you connect with a new contact then try to focus on building trust with your new business relationship. Well, running a business is a hectic task and you will not have enough time to provide face-to-face conversation with all your contacts. It’s better to send work emails on weekly basis to stay connected with your new contacts and strengthen the relationship with them.