Small to Medium Enterprises (SME) are all about Business Relationships

There is a saying that no man is an island. We need to support each other for us to grow and reach our goals. This concept also applies to all kinds of businesses. As a matter of fact, small or even large companies cannot exist on their own. Successful enterprises are handled by owners that create and maintain strong business relationships.

Communicating and having connections to different people is a powerful way of building relationships and boosting your business reputation. A good and strong business relationship is when both parties can feel their equal significance and need of each other. Having a solid business strategy and plan is a must for any kind of business. But the ultimate goal of small businesses is to have long-lasting connections to their partners.

Relationships that Small to Medium Enterprises (SME) Should Build

Business management is a matter of practising human interactions. No matter how good your business strategies are or how innovative your business ideas, these will not bring you the results that you want if you disregard communication and business relationships with clients and partners.

When we say business relationship, it doesn’t mean just about anybody. Our business connections should be composed of people that we selected and trust. They are people that we can count on and ask for support and thoughts. The idea of givers and takers should be present in this kind of relationship. One fatal mistake of some small and medium enterprises is not knowing when to ask help, and this significantly affects their business operations.

There are three kinds of relationships that small businesses should focus on: relations between members of the company, relations with suppliers or other businesses and relations with clients.

  1. Relations between members of the company

These are between the people working in the company. Strategies for building a healthy relationship within your staff and management involve team-building activities and approaches. Always make sure that your employees can talk to you about their thoughts and issues. Welcome their ideas regarding business operation and business strategy. Hear also their feedback. Protect them and be there for them, and for sure they will also continue to protect and work for the growth of your business.

  1. Relations with suppliers or other businesses

These are for private or legal groups that provide their service for your business. Building a healthy relationship for this group means protecting your business reputation in the eyes of the people or other companies that you hire. You will know that these businesses give importance to your relationships when they treat you as equal and reasonable business partners. 

  1. Relations with clients

These are people that pay for your service or buy your business products. Having a strong relationship with your clients and buyers is the key factor to increase your business connections. They should have pleasant encounters with your business representatives from cashier to top management. 

DDDC is a small enterprise that focuses on continuous improvement of every business. Our professional coaches can provide you with ways to enhance your business relationships. To find out more about this, book a call with us today.

How to Build a Strong and Healthy Business Relationship

We cannot achieve a strong business relationship by just snapping our fingers. If you are aiming for a long-lasting kind of connection, then you must be ready to pour a large amount of dedication, time and energy. These are all vital parts of what we call the road to success. Here are some ways to build business relationships that will last for a long time.
  1. Show the real you.
A very cliché but also a very important part of any business strategy. You need to show who you are and also accept people for who they are. With today’s modern technology, it is easy for anyone to create a different character but that’s not the way to a long-lasting relationship. Find people that you find easy to work with and have a natural connection. When you find common traits, beliefs and work ethics upon showing your authenticity, this will be your first step in creating your business relationship.
  1. Develop mutual respect.
Respect is essential in growing your relationships. This will take time even if it is someone that was referred by someone you trust. By efficiently doing our work and giving satisfying results over and over again is a way to prove ourselves. For small to medium enterprises (SME), join online communities or professional groups that have great environments to start relationships.
  1. Give value to their worth.
Building a strong business connection is a give and take relationship. If you’ve just met someone and you feel like they will be of great help for your business in the long run, don’t be afraid to give first. Look for ways to be of service to them like promoting their product or reviews in your network. Whatever you offer, always clear your intentions and show genuine interest without expecting something in return.
  1. Do not make promises you cannot keep.
Business connections can be seen on the effectiveness of your business management.  Even if you want to be the best service provider, you should not make promises that you are not sure you can keep in the long run. Example of this is the shipping schedule. Consult first your shipping service before you make a deal. This will have an impact on your reputation and they can last for a long time. 
  1. Connect and stay in touch with people on multiple platforms.
Either connecting to your customers or partners, building business relationships means being available on social platforms that they often use. Luckily, with the availability of modern technology, various social media options are available for business owners. You can also use emails as a tool to gain a digital audience. If you just met someone for the first time, you can follow up by having a short email on how you enjoy talking to them. Take into account that making a connection is easy but keeping them is another story. Make an effort to contact people, at least once or twice per quarter.  Building a relationship is not just making connections to people. Small to medium enterprises (SME) should focus on the key point of having a strong and lasting business relationship by being of great help to each other.  Contact us at DDDC to assist you in building and maintaining your healthy relationship with your clients and partners. Our coaches are excited to work with you soon. Book a call now. 

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