Your ability to form strong professional relationships can open doors to new opportunities and ensure the long-term success of your business. But building meaningful business relationships requires more than merely exchanging contact information at a local networking event. It takes effort, good communication skills and a strategic approach.
Following the steps below will help you develop, nurture and strengthen your business relationships.
Build A Foundation of Trust
Trust is the foundation for every business relationship, but trust is not built overnight. It’s earned through consistent and honest interactions. When people trust you, they are more likely to invest time, money and effort in working with you. They are also more likely to maintain a connection with you.
Building trust involves keeping promises, being accountable, respecting confidentiality and acting with integrity even when things don’t go as planned.
Communication is Key
Open and honest communication is another critical element of a successful business relationship. It involves active listening and asking thoughtful questions.
How you communicate sets the tone for the relationship. Remember, people don’t want to feel like they are being used. They want to feel valued.
Regular communication keeps relationships strong. Touching base periodically, without an agenda, shows that you're interested in more than just making the sale.
Add Value Without Expecting Anything In Return
One of the best ways to nurture a business relationship is to offer value without expecting something in return. This could mean making introductions to helpful contacts or sharing relevant articles and information. It could simply be supporting someone’s project or event.
When you consistently provide value, people remember you not as someone always looking to get something, but as a contributor to their success. When you provide value to others, they’re more likely to invest in the relationship and reciprocate.
One of the best questions you can ask is “How can I help you?”
Emotional Intelligence and Empathy
Emotional intelligence is the ability to understand and manage your own emotions and to empathize with others. People want to work with individuals who are self-aware, adaptable and respectful of others’ perspectives.
Empathy in particular plays a vital role. Taking the time to understand and sense other people's emotions, what challenges they face and what motivates them will help you build more meaningful relationships.
Leveraging Technology
Tools like social media, email and Zoom make it easier than ever to stay connected with business people in your community. LinkedIn is one of the more effective social media platforms you can use to make those connections.
Leverage technology to complement your efforts in developing and maintaining relationships, but don’t rely on technology exclusively. The key is to use technology to add value, not to replace human interaction. In-person meetings, video calls and attending professional events are great ways to establish stronger business connections.
Develop An Advocate Strategy
This is a strategy I learned from Mark Leblanc, author of Growing Your Business. Mark suggests making a list of the 25 most important people in your life who are in a position to impact your business. You should have no more than 25 to keep your list manageable. These are your advocates. Make sure they know what you do and who you serve.
Contact your advocates every 30 days. You can connect by phone, mail, email or personal visit. Maybe one month have coffee or a face-to-face visit. Another month, send them an article that you think may be of interest to them. Send a postcard, email or handwritten note. Make sure you are connected with them on social media.
Once a year, you should send them a business card or brochure and bio to remind them what you do. Don't get too carried away with sending them something about your business. Only do this maybe once a year. The intent is to keep top of mind presence so when they hear of someone who needs your product or service, they will think of you.
Final Thoughts
Learning to develop strong, long-lasting relationships is an integral part of marketing and growing a business. You don't have a business until people know, like and trust you. When this happens, you will see your referrals increase, and you will start seeing significant growth in your business.
Be patient. Business relationships are built over time. Sometimes the true value of a relationship may not be apparent until years later. It’s a long-term investment in your business that requires effort and consistency.
By focusing on creating and nurturing all your relationships, you will stand out from the crowd because very few people take the time. These relationships will become the foundation for your long-term success and one of your most valuable assets.
Best,
Mike Coleman