Business is Built on Relationships

Endeavor Innovative Workspaces:

I'm often asked by colleagues what my strategy is on developing new business. I could spend hours talking about marketing tools, finding the right sales people, training on product and services, and picking the right networking events but it really boils down to one very important fact. Business is built on relationships.

 What does this mean though? Relationships are a two way street, and if you want a successful one then it requires work. I look at my business relationships as personal relationships and I care about the person just as much as I value their business. In fact so much so, I make it a point to get to know them just as much as I know their business.

 The first step is to relate to your client. Relating to your client doesn't always mean how your product or service is relevant to theirs. It's important to discuss these areas but it’s also imperative that you know your client on a personal level as well. Find some common ground and discuss the topic. Sometimes we get so caught up in trying to negotiate  business we forget to get to know the person we're trying to do business with. Remember, they have a lot of people with a good business plan, a great product/service but they don't always have someone they like that offers these solutions.

 The second step is to respond. After listening to your client respond to them genuinely. Let them know you understand their concerns and you want to offer solutions for their problems. I can't tell you how many sales employees I've watched who fail to respond in a way that shows they've been listening to the client’s needs. When we respond in a way that shows we have their best interest in mind it bridges the gap in our relationship.

 The third step is to reveal our solutions for them in accordance with their needs. Explain exactly how your product or service provides applicable solutions, how it fits into their needs and why it works better then alternate solutions. To know this you'll need to understand your competition and their products/services. Revealing why you're solution is the best requires you to understand their needs better than they do.

 The fourth step is to be reliable for your client. Make yourself available to answer questions, smooth over problems, and add value to what they are trying to do. When we become reliable for our clients we enable them to lean on us with trust. They begin to question our solutions less because they understand that we don't want to jeopardize our relationship, that we see value in working with them.

 The final step is to recover after setbacks. Every relationship has it's setbacks. We're never going to be able to deliver fully on expectations because sometimes there are unforeseen circumstances. Make sure the client knows just how important their need it to you. Suggest solutions, work for resolve, and find ways to smooth over the problem. Taking responsibility isn't always what someone wants, most of the time they simply want you to not point a finger and jump in aggressively to find a solution to the problem. When we work to recover from a problem we bring trust back into our business relationships because the client see's that we can accept ownership of problems and handle them quickly and responsibly.