4 Essential Relationships to Make Business More Profitable

Relationships are tricky to maintain and keep healthy, but if you run a business, it is vital to the continued success of your enterprise. I’m not talking about having an excellent relationship with your wife or husband; I am speaking about all of the relationships you form while working in business. They all matter. I’m using the term relationship to cover a wide variety of human interactions you will encounter as a CEO or Director of a company. They are key to make business more profitable.

 

Staff

There is an argument to be made that your relationships with your employees are the most important when it comes to the success of your business. No matter how amazing you think you are the boss, your business will fail if your staff want it to. This is probably the thing I wish more managers understood. People – your staff – are what make your company a success, and it has very little to do with you. So next time you want to force overtime or stop some advantages, just remember that a staff member will hold onto every single little slight and will use it against you, whether it’s blabbing your secrets to competitors, messing with your software, or in extremely rare cases, destroying/stealing equipment. You seriously do not want a disgruntled employee.

More to learn: Network Connection … 23 Actionable Tips for Relationships

 

clients
You clients and relationships define your marketing.

Customers/Clients

The second most important (or first depending on how you look at it) is your relationship with your customers and clients. Based on your business, you may not have a direct correlation with your clients and customers, but these are still the people that are making you rich, and if they get angered and look somewhere else because you were an insufferable idiot, then you’re going to look pretty stupid. Luckily with this one, there are ways you can use software to get a better understanding of your customer base, which means they can then be manipulated. For larger businesses running SAP, companies such as www.weaveability.com/sap-certified-b2b-portals provide applications that are SAP certified to help utilise master data in an omnichannel environment. This is invaluable ammo in your ‘squeeze the customer of all their money’ gun.

 

Suppliers

This one isn’t 100% vital as there will always be more suppliers, however maintaining a healthy relationship with a select few vendors who you use regularly, will be mutually beneficial. If you get on well with them and keep things rosy, then you will buy more which will give them incentives to reduce prices and give you deals, which then leads to you buying more, etc. It’s the perfect never-ending circle.

 

essential relationships
Essential relationships will make or break you.

Wife or Husband

I lied; this is an important part of running a business, surprisingly. I don’t just mean your spouse, either, as it extends to your entire family. Keeping a happy family life will mean you come to work every day knowing you’re working for the success of something more important than financial reward and success. You’re trying to keep your family happy and comfortable, so ensure a good relationship with them and you will flourish as a business leader.

 

The bottom line

Remember one simple thing here: all companies need to view themselves as relationship builders, period. Customer service actions that are remarkable get talked about. And getting mentioned in this light is a great thing, right? No question.

 

This is a guest blog from Bill Clark. Bill is a freelance journalist who specialises in writing about culture and the arts, however will write about anything that piques his interest including business, travel and lifestyle.  @BilboClark01

 

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Do you have a lesson about making your relationship experience better you can share with this community? Have any questions or comments to add in the section below?

 

So what’s the conclusion? The conclusion is there is no conclusion. There is only the next step. And that next step is entirely up to you.

 

It’s up to you to keep improving your customer attention and focus. Lessons are all around you. In many situations, your competitor may be providing the ideas and or inspiration. But the key is in knowing that it is within you already.

 

All you get is what you bring to the fight. And this struggle gets better every day you learn and apply new lessons.

 

When things go wrong, what’s most important is your next step.

 

Test. Learn. Improve. Repeat.

 

Are you devoting enough energy to improving your continuous learning for yourself and your team?

 

Need some help in building better customer trust from your customer experiences?  Creative ideas to help grow your client relationships?

 

Call today for a FREE consultation or a FREE quote. Learn about some options to scope your job and pay for results.

Call Mike at 607-725-8240.

 

All you get is what you bring to the fight. And this struggle gets better every day you learn and apply new ideas to make your customer experiences better.

 

When things are not what you want them to be, what’s most important is your next step. Call today.

 

Test. Learn. Improve. Repeat.

 

Are you devoting enough energy to improving your continuous learning for yourself and your team?

 

Mike Schoultz is the founder of Digital Spark Marketing, a digital marketing and customer service agency. With 40 years of business experience, he blogs on topics that relate to improving the performance of your business. Find them on G+Twitter, and LinkedIn.  

 

Digital Spark Marketing will stretch your thinking and your ability to adapt to change.  We also provide some fun and inspiration along the way. Call us for a free quote today. You will be amazed how reasonable we will be.

  

More reading on business process from Digital Spark Marketing’s Library:

Change Management Case Study… 7 Volatile Challenges to Overcome

Business Blog … Learning from the Best Examples

The Business Intelligence Process Part 4 SWOT Analysis

10 Growth Hacking Tactics … What Would Peter Drucker Say?

 

 

  Like this short blog? Follow Digital Spark Marketing on LinkedIn or add us to your circles for 3-4 short, interesting blogs, stories per week.

 

 

 

4 Essential Relationships to Make Business More Profitable

One thought on “4 Essential Relationships to Make Business More Profitable

  • September 13, 2016 at 3:43 pm
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    In business, treat your customers with respect and consideration. You can only get fired in business, if all your customers stop
    buying from you all at once, so treat them right and with respect; chances are you won’t get fired by them.

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