Business is filled with all types of relationships, and some of them are very challenging. Consider for a minute how challenging some of the interactions you have with customers are; or some of the vendor conversations that happen; or some of the give-and-take you get from your employees. Sometimes it is hard to believe that without these people, your business would be a complete flop. This month, we break down how sometimes the relationships you forge in business are the key to things breaking your business’ way.
Relationships Fuel Everything
For most businesses that have a workforce, working together is a key part of business success and if those relationships sour, costs tend to increase and the efficiency that marks a productive and efficient business begins to erode. So it’s important to invest in the relationships that make your business a success.
Some are easier than others to manage. Let’s take a look at three relationships people in business need to cultivate:
Relationship with Your Employees
Obviously, your business wouldn’t be very successful without the efforts of your employees, and they don’t always have it easy. They work for you…and if you are like any other business owner, that can sometimes come with some pretty hefty demands. That’s why it is important to treat your employees right. This means helping in the ways you can.
Firstly, presenting a supportive and positive work environment can work wonders for employee retention. Treating people like human beings, when so much is being done with technology to analyze worker and staff performance, is a big deal. Companies that help people cultivate skills that may be of use on the open market is also important. You want your staff to want to come to work and the more you can do to make that a reality, the better off your relationship with your staff is going to be.
Relationship with Your Vendors
The thought of many business owners is that money talks; and for the most part it does. If you hire people to work on your business, you expect that the work will get done to your specifications. Well, that doesn’t always happen. That’s why it is important to forge positive relationships with the vendors that make your business possible.
Nowadays, a business outsources at least a couple of things that older businesses could afford to do in-house. That’s just the reality of business today. Unfortunately, there simply isn’t enough revenue to support the growing demands of your workforce and still move the needle in the positive direction. If you don’t extend your hand out to your vendors, you will likely have problems and have to search for new vendors before long.
Relationship with Your Customers
Without your customers, your business is make-believe so you better believe they are important. They can also be the most difficult people to sustain long-term relationships with. Your customers are always searching for ways to get the same products or services for less, so even if you take time to build a rapport with your customers, they may just leave anyway should they find a better deal.
That’s not to say that solid relationships with customers have no value. If you are able to get in a position where you can meet the customers’ needs and do it in a way where they want to come back and spend more money with your business, that’s great. You need to listen to what your customers say. One of the best ways to do that is to use business analytics to identify popular products and services and then do what you can to get those items in front of like-minded prospects.
Two Good Tips While Dealing with People
Regardless of who you are dealing with, business can get in the way of a good relationship. This is the sad truth, but there are a couple of things you can do to make the people that work for, work on, and work with your business more comfortable and feel like they have been dealt with squarely.
- Express appreciation - For the small business owner, being able to let everyone know how much you appreciate them will have positive effects every time. It can help boost productivity. It can get vendors to jump you in a queue and prioritize your business, and it can get people to come back and do business with your company again. It doesn’t take that much time and effort and it can really pay some serious dividends.
- Don’t over-promise - A lot of times small business owners will oversell their ability to do a project and when the time comes to deliver, the customer is left wanting. This can be a killer for any organization. Know what you and your staff are capable of and then add some time for delays, mistakes, and other problems that happen in business. Not every contract is going to go smoothly, but if you over-promise what you can do, you may just hurt your business going forward.
People are a big part of your business. At CoreTech, we work with people every single day to help them meet their goals. If you would like to have a conversation with us and start a relationship that could radically benefit your business, give us a call today at (270) 282-4926.
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