The Value of Maintaining Healthy Business Relationships

By TRISOFT team

For small start-ups, which usually come across challenges with regard to finances, legislation, rental space, office furniture, employee base and so on and so forth, their most valuable asset, which will never diminish, but rather grow constantly, if handled correctly, is a solid and secure network of relationships.

Quality business relations are an absolute must — they create trust, loyalty, a positive image for the company, good word-of-mouth publicity and outstanding partnerships. People love sharing with others what they enjoy doing and need to count on others for support when times are rough. Therefore, these connections must be developed, nurtured or, in the worst case, if they fail to meet their goals, terminated.

The network

Depending on the domain or market, this network can include from clients to suppliers, service providers, government organisms, the media or even one’s competitors.

There are two main types of commercial relationships: business to business (B2B) which go either vertically, up (suppliers) or down the supply chain (retailers and customers), or horizontally (businesses that rely on one another equally, such as the relationship between a florist and a wedding planner, for example); or business to customer (B2C) which define the company’s interest and consideration for the clients’ desires and put their needs above profit or fame, thus securing their trust and loyalty. Another aspect to keep in mind in B2C relationships is satisfaction — businesses must constantly strive to find out clients’ expectations and opinions of the services or products they get, through open and sincere communication, and try to fix any problems or complaints. It must be easy for partners and customers to get in touch with you, so guarantee your reliability and receptivity by offering them all kinds of communication mediums and channels.

Contact

Methods for starting a network are many and diverse. One first option would be simply contacting everyone you know, preferably by phone calls, since e-mails and text messages are often disregarded. Draw up a list of people that you must definitely call, some that you should get in touch with and others that would be nice to contact. You never know who might be interested in what you have to offer, and if they aren’t, they certainly know someone who is and could recommend you.

Another way to build a network is offering free samples — on the street, in dedicated fairs, through acquaintances or a deliberate program for expanding your business by delivering complimentary specimens to partners and clients.

Another choice is the ever-present social media: they are not only a means of communication, but a source of contacts. Search Facebook for groups of people interested in your domain of activity, access platforms that advertise your type of services, but don’t forget to help others as well, not only try to promote yourself, because otherwise, you will create a bad reputation for yourself. Don’t try to sell directly on social media — these websites are for socializing, not commercial purposes. Target an audience and narrow it down little by little, until you remain with a few great ideas of approachable partners and customers. And, most importantly, keep at it — do it consistently and prove your reliability and faithfulness.

Calm

If disputes ever arise, and they invariably will, keep things professional and try to settle the matter with calm, direct communication, aiming at solving the other party’s concerns instead of blaming them for the problem. It’s natural for interests and opinions to sometimes conflict, and an amicable resolution is the best option. However, if this is not possible, it’s not the end of the world if the relationship isn’t working or there is no reasonable course of action for reaching a viable compromise.

Our view

Business relationships improve management’s and employees’ communication skills, through frequent interactions with others, they boost confidence, foster friendships, offer a personal sense of fulfilment, since the joy resulting from profit is usually short-lived, whereas satisfaction gained from positive relationships lasts a lot longer, they help your business grow and eventually turn into a full-fledged brand, expanding your reputation and improving your level of trustworthiness, they help your business move forward, even in hard times, and ultimately lead to even more relationships.

No matter the domain you operate in, your scope or objectives, you must always keep in mind that behind every business there are people, and people function in society through relationships. Therefore, successful companies rely on good relationships. At TRISOFT, we believe that a bit of personal touch can go a long a long way, and start-ups who embrace this principle from the get-go are more lucrative. If you’re not convinced, just take a look at a list of top companies that people prefer to work for and you will understand!