One of the key factors in the success of your business is how well you are able to maintain the relationships that you form with other companies. These relationships will often play a large part in how effectively you can run your business, so Dr. Donald Sonn has the following pointers to offer to those who are struggling to keep their business partners on board.
Communication is crucial in any relationship, whether its business or personal, so don’t neglect it when dealing with the people in your network. Make an effort to send an email of make a phone call every so often, even if it isn’t business related. This will show the other party that you still value the relationship and keeps you fresh in their thoughts should any opportunities arise that your company would find useful.
Deliver What You Promise
No company wants to work with a business that is unable to deliver what it promises, so make sure you don’t overburden yourself by making promises that you can’t keep. Be honest about your capabilities as a business, particularly if you have just started out, as your business partners will often see through deception and will no longer trust you to do the things you claim to be able to.
A good business relationship will see both parties offer something of value to each other. Donald Sonn notes that it is important that you understand why the relationship was formed in the first place so that you can continue offering whatever it is that the other company values. This will, in turn, ensure they continue offering whatever it is that your own business values.