Date: September 30th, 2009
Have you ever been stuck in a situation where you couldn’t end an agreement with one of your suppliers despite regular delays in their deliveries? This difficulty is due to the relationship they built with you over a period time.
As most of the people who are involved with business coaching are well aware, good relationships are the foundation of small businesses, on which rests the entire structure that provides many of these businesses with a real shot at success. A start-up business might not have lots of money, a strong infrastructure, or top quality products and services, but it can still make good money and even thrive - with solid relationships.
A small business going after a high level of success in this business environment should pursue all sorts of working relationships, not just with customers, but also with its employees and business associates. Business partners are usually fairly different from each other in their personal approaches towards business, so we should always develop different ways of effectively dealing with each one.
- Customers - The wants and desires of the customer are the fundamental purpose for the existence of any business or company, and as the process of selling to a new customer involves quite a bit more expense and effort than selling to a current one, then why not let your current customers know that you really value them - by staying in touch, and regularly asking for their feedback.
- Tailoring your approach to individual customers is a great idea - as no single customer is the same. Keep a detailed record of your customer’s purchases so that you can easily remind them of an item or service they may have forgotten, or even something new which they may not have otherwise considered. Delivering reminder emails, personal calls, or pleasant greetings can all make an extraordinary difference in the way your customers see you and your business. Also, giving complementary gifts, discount coupons, and loyalty rewards will make customers feel recognized and valued.
- In-house employees - The employees of any business are essential for the attainment of any significant degree of long term success. It’s important that these employees - primarily those with deserved merit, be regularly shown appreciation for their accomplishments and performance in the business. Business gifts, awards, acknowledgement bonuses, birthday gifts, seasonal and festive gifts all play a very important role in keeping your rising stars motivated and focused. As you’ll learn in management training, these gestures of the company generate a sense of belonging in the employees, which will prompt them to identify with the company and feel a sense of personal loyalty, keeping them with the company for a much longer period of time.
- Business Associates - Business associates consist of individuals such as suppliers, distributors, and advertising agents, as well as any other people who derive a similar measure of profit from a given enterprise. These are the people who sustain the business, helping it to thrive with regular supplies, deferred credits, discounts, advertising, etc. Utilising promotional gifts, loyalty rewards and appreciations are some of the tremendous ways of expressing gratitude to any of the business associates, as all of these gestures will convey to them the valued position they hold in the eyes of the company.
The key to being successful - whether in a small business or a large company, will always be a carefully built solid foundation, along with mutually beneficial business relationships with each of your associates.
Alan Gillies is the Managing Director of the L2L Group, specialising in providing Executive Coaching, Training and Consultancy Services to Businesses across the Globe. Want to learn more about these business success strategies? Get Alan’s popular FREE Business Pack today!