Business Relationship-Building Tips

5 smart ways to recognize those who help you succeed

Smart, hard-working entrepreneurs depend on other people — employees, vendors, customers — for their growth and success. But, entrepreneurs often forget to nurture those important relationships in the course of running their business, asserts Ty Freyvogel, founder of MakingSenseOfYourBusiness.com.

“Your success is intertwined with a complex network of other people and organizations,” says Freyvogel. “All of those relationships must be constantly tended and nurtured. Even though your interaction with your customers is different from how you interact with employees or vendors or even your bankers, your reason for forging strong relationships with them is the same — building and maintaining a successful business.”

Freyvogel, author of It’s Not Your Smarts, It’s Your Schmooze: How to Succeed Without Being Brilliant, offers these five tips to continually strengthen your business relationships:

1. Make a list of everyone you work with, and get to know them. You need to know as much as possible about everyone, from your customers to your vendors to your employees, so that when their needs change, you’re poised to keep them happy with your business. As part of your strategic communication plan, constantly ask them, “What can I do for you?” Then, do it. They’ll appreciate your efforts to help them be as successful as possible.
2. Treat your suppliers like honorary employees. It’s important to nurture relationships with those people who aren’t necessarily working for you, but who regularly provide your company service. That can mean anyone from the daily messenger to the materials supplier to your contract Web-site designer. Show them that you appreciate what they do for you and also that you care about them and their company. Get their email addresses and cell phone numbers and stay in touch with them. You never know when an emergency might arise in which you could use their help.
3. Empower your employees to act like the owner. Whether it comes from having a part in a business development plan, managing client relationships, or actually owning stock, employees will develop strong ties to your company when you create a sense of ownership for them. Inspiring your employees to love your business as much as you do will strengthen your company’s foundation — and your business will be more likely to survive setbacks and grow faster and smarter.
4. Talk – and listen – to your customers. Dissatisfied customers will often just leave you for a competitor if there’s something they don’t like about your business. You can prevent that by talking to customers regularly and asking them what they need from you that you’re not already providing. And be sure to listen intently. That’s the essence of customer relationship building. You should regularly conduct customer satisfaction research. A survey, for example, can be filled out anonymously in case customers aren’t comfortable telling you what they think face-to-face. And to elevate your customer service standards, make it a point to always call and follow up with customers after they purchase a product or service from you.
5. Don’t forget your mentors. Mentors are people who gave you valuable advice when you were trying to get your business off the ground – or people you call when you’re seeking advice. Make the effort to keep up contact with your mentors, even when you don’t need anything. And always be available to help a mentor – relationships are a two-way street.

“Always be on the lookout for ways to show your key players that you want to be their favorite business owner,” Freyvogel says. “Make sure they are getting as much out of the relationship as you are. Show them you care.”

For even more advice, download a free report on customer relationship marketing.