One of the most important drivers of success in any business is establishing strong, healthy business relationships. Business relationships are not just limited to the business and its customers, but they encompass a larger and more personal scale. As a business owner, you also need to be intentional to strength your business relationships with your employees, vendors, clients, investors, business partners, and prospects. While it is true that business owners need to have a good grasp of the business operations, the relationships that you forge in the background of your business will help solidify the presence of your business in the market.
Read on as we share some creative and resourceful ways of strengthening your business relationships.
You might be wondering about this game choice and ask why it isn’t golf or tennis instead. While it is true that golf and tennis are awesome, healthy, and leisurely sports, you have to consider how beginners and non-pros can play. Squash has a relatively simple rule and gameplay and is a healthy competitive sport.
Forbes Magazine has voted it as the healthiest sport, and it is something you can impress your clients. The game does not require much equipment, and players can have a quality squash racquet under 100 dollars and a ball to play the game. Squash is an indoor game and is played to 11 points in a best of 3 or 5 matches. It means the game can be finished quickly, giving more time for friendly chats and business-related discussions.
Because it is an indoor sport where players compete side-to-side, squash is a great social sport where you can easily build rapport with other entrepreneurs, attorneys, and venture capitalists and expand your network in the process. This is one of the few sports where you can compete and talk with your competitor at the same time, which can open a new dimension in your business relationships.
Social media was created as a channel where people can expand their network of friends in a virtual community. There are various opportunities and business potentials that social media can offer aside from expanding the market reach of your business. You can also expand your connections and business networks by using various social media platforms such as LinkedIn, Facebook, Twitter, and Instagram. Make your connections with clients, customers, and fellow entrepreneurs as open as possible, and do not make it a purely business one.
Use the platform as you would normally do when connecting with friends: greet them, communicate with them or post something fun or relevant in your account. Doing these things can change their perspective of you as a business and your business in a positive way.
How far your business can go largely depends on how motivated and satisfied your employees are. While it is a given that you should provide your employees with everything they need to do their jobs, your presence and relationship with your employees also matter. It is no longer wise to be a business owner who operates in the background or some exclusive office. Employees also need a sense of belongingness, value, and ownership in the business, and business owners have a key role in providing these needs to them. Make regular visits to different departments and greet every employee you meet within or outside the company premises.
Hold employee recognition and awards programs for top performers and exemplary employees to boost their morale. Be present in the team-building activities of your company to foster friendship and stronger bonds between employees and departments and forge a stronger relationship with your employees. Being there for your employees and listening to their concerns, suggestions, and opinions can go a long way and will benefit your business in various ways.
Businesses need profit to survive, grow, and thrive, and customers are the primary sources of sales and revenues for your business. It is not enough that you attract many customers and have them purchase your products or services. You also need to make them feel that they are valued as more than just revenue sources, but as honorary partners in your business growth.
Use communication and social media channels to encourage them to provide feedback, comments, and suggestions about your products or services and tell them how their inputs can help your business provide better and more personalized products and services.
Making your customers feel that they are important in your business helps strengthen your business-customer relationship and build a solid customer base to support your business growth.
Good relationships make the world a better place to live. The same is true with your business. Making the effort to strengthen your business relationships with the key players of your business takes considerable effort. However, but the payoffs of building and nurturing these relationships will be well worth it. Start brainstorming and plan ways of strengthening your business relationships now, and your future self will thank you.