Building Business Relationships with Entrepreneurs

 

  #staypositive #staymotivated

   Building relationships with any job is key to success. As an entrepreneur, if you don't mesh with someone, you typically do not have to continue to deal with them, you can move on. When you work for others such as a large company, you need to have good relations and most of the time they are forced. Becoming a successful entrepreneur is hard work, but creating positive, strong relationships are key to growing your business.

 

1. One of the first relationships you need to build trust with is your banker. Whether you need start up money or to expand your business, develop an honest relationship. Be prepared to show your brand, your goals and a good financial plan you intend to use for your business. Budget your business to always set aside for bank payments. Be prepared for slow months. 

 

2.  Find a mentor. A positive reinforcement for an entrepreneur is to find a fellow entrepreneur who can listen, give advice and knowledge from their experiences. A mentor should understand your thoughts, plans and have the accomplishments you desire for yourself. A mentor may have contacts or lists that may help your business grow. Always keep them in the loop share the positive and negative situations in your business. This type of relationship will benefit you in so many ways. 

 

3. Building good relationships with your vendors. It is very important to value your relationship. Vendors do not work for you , they provide product or service to help your business. If they go the extra mile for you, appreciate it and them know! Your business may hit a pitfall and payment to your vendor may be delayed. Having a strong relationship with your vendor can help increase the chances of them working with you in your down time. 

 

4. Build relations with your community. Giving back, speaking and helping your community will build great relationships that will help support your business.

 

5. Give back. All entrepreneurs need help. It is very difficult to go at it alone. Help others as a mentor, the same way your mentor helped you.  Share thoughts and ideas, give your time.

 

6. Building relationships with your customers. Listen and understand the customer. Customers want to feel appreciated. Technology can be impersonal so personalize and email, or send them a personal thank you for their business. Ask for feedback, they want to be heard! This helps spread positive marketing by word of mouth.

 

  Relationships of any kind do not happen overnight. Invest a great deal of time into all your relationships and business. Be thankful and positive to your employees. Key employees that go above and beyond should be recognized by you.  This helps build loyalty, appreciation and morale to other employees.

  •  Influencers - building relationships with them can help building more relationships with customers. This is a relationship that needs to be beneficial to both sides. This is very important when you start your personal brand. 
  • Competitors-  Sharing information with competitors can help with your marketing strategy and by not bashing your competitor will definitely build integrity.

 

Don't waste your time and the chance of losing money by concentrating on the wrong things. While social media and technology aid us to help ease our business. The  communication between two real people is how your business grows. All the AI in the world will not set you above the rest. It is building relationships and continuing to make new relationships that will make you and your business successful.    

 

Have A Great Day!!!

  

 

 

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