The strength of a business’s relations can have a major effect on its overall health. From a practical standpoint good relationships allow businesses to generate new revenue streams and establish communication protocols to accelerate the process of planning projects and policymaking. Poor business relationships can have a negative impact on the image of a company, lead to unhappy customers and reduce the potential for growth. It takes persistence and attention to detail to establish good business relationships. Although it’s tempting to ignore follow-ups when you are in the negotiation phase of your contract or sales phase, companies that are successful realize that they must focus on persuasive follow-ups to deal workflows keep and improve their relationships.
It doesn’t matter if you’re a prospective client, a current partner, or a new acquaintance Everyone requires the same level of respect and trust. Reliability is especially critical in long-term relationships as an insignificant mistake can be enough to sour an existing relationship. Think about the last time someone pulled out of a deal, changed plans at the last moment, or cancelled the meeting. You’ll probably remember that moment as a negative experience even though the person might have had legitimate reasons for their actions.
Developing long-term business relationships is also about prioritizing education and serving those you interact with in a consultative capacity. Involving customers to distribute surveys, develop and share relevant thought leadership content and frequently communicate with business partners on what you can do better could go a long way in demonstrating that you’re invested in your relationships beyond making money off them. Incorporating feedback and soliciting feedback is equally important as people want to be assured that you’re willing to listen and take their input seriously.