There is more to business than just selling products and services. The business world is like a spider web, interconnected with each and every fibre representing a pillar that holds the business together. At the centre of this spider web is the spider itself, the maker, the caretaker, the keeper who is other than the entrepreneur himself. There is no business that can survive without proper connections. Here is the list which can help you to understand the importance of relationships. The list goes as follows:
1) The employer vs employee
A proper business relations start within the organisation itself, there is no way a business can strive when there are many unresolved internal forces. Everything starts inside before it goes outside. It is a responsibility for every entrepreneur to encourage his or her employees to work together in a peaceful environment. It might be general workers, management team or leadership board – they have to build one team with one voice.
2) Supplier relations
Building strong and sincere relations with your supplier(s) is part of the business networking process which may guarantee you consistency in supply in times of need or crisis. Although it is advisable to have multiple suppliers, it is best to have one you may be deemed loyal to, whom you have their support and they have yours. Such relationships call for trust, honesty and consistency to make them strong.
3) Investor relations
The backbone for the growth of a business is not only limited to innovation and management strategies, money is a basic need too. There are people who invest their money in ideas, viable business ideas and these are called investors.
Investor relationships are different from lenders, relations with the latter usually ends as soon as the loan is paid back in full payment but for investor relations, it is a long term because they have a share in the business. What is more important is honesty, transparency and accountability so that they keep investing in your business. Otherwise, they will terminate the contract when there is mismanagement of funds.
4) Customer relations
One school of thought once said customers first buy what you say before they buy your product or service, if they do not trust what you say then they will not believe what you do. Customer relationships are not all about exchanging money for products and services, it involves more than that. Your company, brand, product or service should speak to a customer way before they think of digging into their pockets to support you.
Understand their likes, beliefs, limitations and expectations so that you can speak to them in your marketing campaign hence luring them to your customers. Once they make the decision and move to buy. How you handle a customer when they are getting your service is also important, it will determine whether or not they will come back to you. Customer satisfaction is a strategic way of marketing your business because it attracts other customers through references.
Do you have a follow up system to see how satisfied your client is? Do you have a way of gathering feedback? How do you react to complaints and returns from your clients? This is the best way to foster stronger relations with your clients if you react in a diplomatic manner.
Written by
Kudakwashe T Muganu
