Make Relationship Building a Way of Life

For the most successful entrepreneurs, building good relationships is a lifelong pursuit. It has been said that you can never have too many friends. The same goes for customers, clients and partners. The key to creating great business relationships is enjoying the process.

Don’t get caught up in hoping that the next person you meet will solve all of your problems. Rather, think of ways to connect with all the people you meet, even if there’s no immediate gain involved. In the long run, this approach will empower you to build mutually beneficial relationships with all kinds of people.

 

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2, 070 viewsJul 20, 2018, 09: 00am

Business And People: Why Relationships Are Essential For A Successful Business

Tina Hovsepian CommunityVoice Forbes Los Angeles Business Council CommunityVoice

Entrepreneurs

POST WRITTEN BY

Tina Hovsepian

Architect || Inventor || Founder of Cardborigami || Design Director at Oceanwide Plaza in Downtown LA || Humanitarian || Los Angeles Native

 

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As one of my mentors has always expressed to me, behind every business there are people, and people function in society via relationships. Therefore, successful business is built on good relationships. I am a firm believer in this philosophy, as it has only served me well along my journey as a founder. In this article, I wanted to share a few insights on how to build and maintain good relationships, because sometimes it’s not what you know, but who you know.

First, here are the four relationships every business professional must invest in:

1. Vendors/Consultants. It may come as a surprise that I listed this first but as a product-based company, I would be nowhere without my manufacturing vendor. Just because you pay for services does not mean you are building a meaningful relationship, and that could mean you are not getting the most out of this interaction. I cannot overstate the importance of finding good vendors that you can establish great working relationships with and that may eventually even lead to partnerships with your venture. Regardless of what type of vendors you work with, they are typically underappreciated. Just a little bit of cultivating a relationship could go a very long way.

2. Employees. A close second because, again, you are only as good as your team. It is so important to provide a nurturing work environment for employees, whether they are in an office or working remotely. Do weekly check-ins, provide learning opportunities, involve them in decision making and make sure they are appreciated when they do a good job. This is basic, but it is surprising how many companies do not consider this a priority and have high turnover rates because of it. It is a low-cost, high-impact investment that can produce unimaginable returns for your business.

3. Partners. I would say that everyone you work with or might work with is a potential partner. People want to be involved with a good company beyond the traditional notion now more than ever. For example, I am currently launching a lighting product line, and I am partnering with a material manufacturer who will be making the light shades out of 100% recycled material. These types of relationships can generate new partners, clients and even employees. Keep your mind open to creative new possibilities, and there may be adjacent opportunities lying ahead.

4. Clients, Members And Customers. This is a given and is usually where most businesses focus their relationship-building energy. Of course, this is vital, as it is usually your lifeline. These days, companies who go above and beyond simply ensuring satisfaction stand out and are more likely to be referred via word of mouth. For example, including a handwritten note with a delivery is a tasteful touch that will not go unnoticed.

As one of my mentors has always expressed to me, behind every business there are people, and people function in society via relationships. Therefore, successful business is built on good relationships. I am a firm believer in this philosophy, as it has only served me well along my journey as a founder. In this article, I wanted to share a few insights on how to build and maintain good relationships, because sometimes it’s not what you know, but who you know.

First, here are the four relationships every business professional must invest in:

Vendors/Consultants.

manufacturing vendor.

the importance of finding good vendors

may eventually even lead to partnerships with your venture.

cultivating a relationship could go a very long way.

Employees.

 good as your team.

 important to provide a nurturing work environment for employees

weekly check-ins, provide learning opportunities, involve them in decision making and make sure they are appreciated when they do a good job.

high turnover rates because of it.

 a low-cost, high-impact investment that can produce unimaginable returns for your business.

Partners.

 everyone you work with or might work with is a potential partner.

generate new partners, clients and even employees.

Keep your mind open to creative new possibilities

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