The Business Value Of Relationships

Business is about relationship building. That is what is called networking in the formal sense. Success in business starts with good relationships with those around you. This is really connecting with the people around you in a friendly and trustworthy manner. If you are going to work a business and make a living out of it this matters.

You know where you want to go, but how to get there is another matter. Most opportunity comes about because of contacts. Self made millionaires usually did not do it alone. They had some very good opportunities come their way by having some great contacts. They know that everyone that helps is their business team.

The real fun of business is that you meet a lot of great people along the way. Everyone you meet has a wealth of experience that is invaluable. Now more than ever relationships and networking happens in real time. Phenomenal growth has a lot to do with the relationships with customers, vendors, and strategic alliances. Creative ideas are tossed around when you interact with clients, vendors and other people. A lot of times in a matter-of- fact way a reflexive comment changes your company. Live and learn sure applies to business.

Involvement is the key word in any business. Obligation is not the same as a social connection that stresses the importance of relationships. Aspiring to profit from a business is not always the same as succeeding in business. That means the value you bring to your relationships has a paramount impact on your business. People who are passionate about what they do are usually the most generous with sharing their expertise

The ability to partner with your customer, distributors, vendors, and other businesses is what will help make your business a success. The knowledge you add to your service and communicate to your customers is what makes a long lasting relationship. Success in any field is about working with the people that are there. No one does it alone, only by connecting with others can you expect to reach your goal. People you meet can work as mentors by offering help, guidance and opportunities to grow your business. This is your business team that will help you reach your goal.

Let people enrich your life and transform your business. Consumer connectivity both literally and figuratively creates a strong brand for a company. You build one person at a time until you have enough connections to forge an identity. Create, collaborate and share in a wide variety of ways your business, yourself, and your knowledge. It is always good to remember you are part of a business and social community that are drawn together for survival.

There is a new breed of businesses that really count on both the interactive and traditional. Remember the web is a community of businesses connected through links, affiliations, and testimonials. The web is a growing success because of its interconnections. This new media has one important message that delivering to, and reaching a wide audience is the way to nurture a business. Relationships are the key to unlocking a treasure trove of support and access to resources.

Fundraising and the Business of Relationships

The golden key to effective fundraising is an organizations ability to manage relationships. While some may consider this an oversimplified explanation of a complex non-profit business model, our experience has shown us that this is one of the most overlooked, yet lucrative, elements of our fundraising efforts.

The backbone of any fundraising campaign is the appeal to donors for contributions. The problem many organizations run into during this phase of their fundraising efforts is that they have neglected to keep their donors engaged with their organization since their previous appeal for support. The donor no longer feels engaged by, or attached to, your organization in any meaning way. What distinguishes your organization or non-profit from the next?

We advise all of our clients to develop strong relationships with their donors and supporters. In the non-profit sector, these relationships play a significant role in the success of any given campaign. In some cases, these relationships can make or break an organization. Keep in mind that appeals for support are not always of the monetary type. Organizations of every type need support staff, and your donor list is an ideal place to search for new recruits.

One of the most important elements of fundraising is strategic planning, and your donor list can provide you with a lot of useful information. For instance, a well organized donor list can provide you with information about the types of causes a certain individual tends to support. By studying the types of initiatives an individual supports, you can make relatively educated guesses about their receptiveness to your current efforts. By organizing and tracking this data, you can save your organization valuable time and resources that could be used more effectively in another area.

A number of organizations purchase their donor lists from a third party. While this may be the most convenient solution, it is certainly not the most effective. It is imperative for any organization that is serious about fundraising to develop a proprietary donor list. This is a significant point that is often overlooked. By building your own donor list, you become engaged with the people in your community. These are the people that will support your organization over the long term, and the ones most likely to get involved.

Building Great Business Relationships

If you’re in a business relationship with anyone – a client, vendor, or customer – how important is that relationship to you? Do you value the relationship? Do you want to nurture it?

A business relationship, like any relationship, is a two-way street. The expectations of both parties needs be clear and easily understandable. Applying the Golden Rule is also a good idea: “Do unto others as you would have them do unto you.” That is a very powerful statement, and one I try to practice in my daily life, both in business and personal matters.

Good communication is key for any business relationship to grow and thrive. Even when conflicts surface (and they will), keeping the lines of communication open at all times is extremely important. Meet conflicts head-on, no matter how frightening they may seem at the time. The sooner the issues are out on the table and dealt with, the sooner you can get back on track and back to business-as-usual.

Another thing to keep in mind is letting people know you appreciate them. Thank you notes, cards and e-mails are always a good idea, and they never go out of style. People love to be appreciated. If you are receiving great business from someone, always be sure to let them know. You will feel better for it, and so will they.

Another great idea is to reach out and “touch” your clients and customers on a regular basis by sending them monthly newsletters. This is a wonderful way to keep in touch, both to let them know you are thinking about them, and to remind them about you as well.

Remember, you get out of a great relationship what you put into it. Value those you do business with. Nurture the relationships, so they are always growing and prospering. Keep this up and you will always have a garden full of healthy, happy business contacts.

A Business Wine Gift Can Strengthen Your Business Relationships

You are probably familiar with the traditional fruit baskets and flower settings used as business gifts in today’s modern corporate world. But a new trend is developing in corporate gift giving that adds a whole new dimension to business relationships – the business wine gift.

As it is customary for business associates to exchange gifts on occasion, an alcoholic gift has been frowned upon in the American business scene. But as business relationships become closer and on a more personal level, a wine gift is becoming much more acceptable.

Is a Corporate Wine Gift Appropriate?

Because of business teachings in America, the mixing of work and alcohol has never really been accepted as an appropriate practice. Of course, the endorsement of intoxicated employees at any corporate level is never a good or practical idea. But as business relationships have changed over time, from short term arrangements to longer term partnerships, the view of the appropriate gift has also changed.

The European business community has been of different opinion merely due to cultural differences. A glass of wine at a business lunch is an everyday occurrence and an acceptable practice. The European business lunch is treated very similarly to an American business dinner.

Therefore, a business wine gift is considered to be an appropriate and personal display of gratitude between business associates. This philosophy is permeating the American business scene and is now becoming a “chic” way to make a favorable impression on clients and customers.

When Should You Send a Business Wine Gift?

There are really no hard and fast rules when it comes to sending wine as a gift. An attractive wine gift basket can be given for almost any occasion:

- Launch of a New Product

- Signing of New Clients

- Completion of a Business Deal

- Recognition of Special Customers

- Performance Awards

- Recognition of a Major Vendor

- What Type of Corporate Wine Gift Should You Sent?

The wine gift doesn’t need to be in the form of a gift basket either. It can be given as a wine gift box or collection, a personalized wine gift (with a special message on the wine bottle sleeve or label), or a wine of the month gift club membership.

Today’s attractive corporate wine gift can be tailored to your business partner’s likes and preferences. A red, white, or blush wine and specific countries of origin are common requests that can easily be handled by the wine gift merchants.

So, if you want to encourage a long term corporate relationship with your special partners, clients and customers – send wine! They will be very appreciative of your business wine gift and you will have strengthened and solidified a valuable business relationship.

Building Relationships In Business - Why It's So Important

One of the most important things that you can have as a business owner are good relationships. Good relationships can be very instrumental in the success of a business. There are several different types of relationships that a business owner should be trying to obtain. This article will take a look at three of them that I feel are a must have! These three are: relationships with your existing customers , relationships with potential customers and lastly relationships with other people in your field.

Below, each of these types are looked at a little closer so you can get a better understanding of how important each one is and can be.

Relationships With Regular Customers- It doesn’t matter if your regular customers are individual people or a business; developing a relationship with them could be the difference between keeping that customer and losing that customer to a competitor offering the same type of products or services that you do. Let them know that you really do appreciate them as a customer on a regular basis. You don’t always have to try to sell them something either, every once in a while send them a postcard or email thanking them for choosing you to do business with on a consistent basis. It might not seem like much;but your customers will appreciate the jester, increasing the chances of them staying one of your loyal customers. Let these individuals be the first ones to hear of your upcoming sale or new product or service that you will be offering soon. Reward them with special discount prices and deals just for them being one of your regulars, it’ll be a well spent investment.

Relationships With Potential Customers- Sometimes it’s hard to pay any attention to someone or something that isn’t really doing anything for you at the moment. The truth is, this is where many businesses make a huge mistake. Remember this, potential customers represent the future of your business. Never be content with your current amount of customers, always look to gain more! Keeping that in mind, you should make it a routine to keep in touch with prospects that may have signed up for one of your newsletters; or maybe they responded to an ad that you ran in the paper before, but haven’t purchased anything from you yet. Without being a pest remind them that your services are still available. Offer them some type of sample or free trial to demonstrate the quality of your products and or services. If done correctly, you can easily convert a lot of "maybe buyers" into "yes buyers ". Now these customers will soon find themselves in your "regulars" category .

Relationships With Others In Your Field- This is with out a doubt one of the best relationships to have. Simply put, these types of business relationships have so many advantages both short term and long term. By interacting with others in your field, it gives you an opportunity to learn new things, teach new things and even open up new doors for your business. Having these relationships with others in your field can possibly lead to collaborations in the future, greatly benefiting all involved.

Building business relationships, especially good ones, takes time to do. Once developing a relationship with a customer or colleague, put the same amount of time and effort into maintaining the relationship as you did to obtain it.

Advertising: Relationships vs Business Decisions

Successful businesses know the importance of building and maintaining good working relationships, whether it is with partners, employees, business or trade organizations, the government, media representatives, vendors, consumers, or the community at large. A business must carefully balance the benefits of these interpersonal relationships and should never allow these relationships to blind their judgment especially when it relates to what is in the best interest of the business's continued success and growth

Buying advertising media based on interpersonal relationships is a common mistake made by many small businesses. This strategy throws the business's strategic marketing plan into the winds of chance in exchange for the warm and fuzzy feelings that come with doing business among friends. However, when the smoke clears the business has made costly advertising expenditures with little or no results and the long term negative effects may not readily be seen. Simply, the marketing / advertising expenditures have been made, the budget may or may not be busted, and the results may be none to little measurable penetration into the business's target demographic market segment.

Is buying media from a friend in the business always bad? No, however in order to choose the most effective media channels a business must first consider the audience or customer it is trying to reach. Developing a strong sense of the target demographics' buying and shopping patterns, interests and hobbies, entertainment and media choices for example will lend itself a tremendous benefit to making informed media buying choices. Once the advertising business has developed a strong sense of what media channels may prove to be the most effective it should try each a little at a time carefully tracking the results of each. Once this is complete the business will be able to make an educated decision on where to invest its marketing dollars, prioritizing expenditures into the mediums that have proven results for the business.

It is true that strong interpersonal relationships skills and the ability to develop and maintain good working relationships with a variety of people, businesses, and other organizations are imperative in today's business environments. However, the importance of a well designed and implemented strategic marketing plan can not be understated and is paramount to the business's development and longevity never taking second seat to friendship.

Build a strong business with strong customer relationships

Most businesses spent time attracting customers to a product or service, trying to win their trust and then ending the whole process with a sale. That tactic seems obvious to most people. What often is neglected is the post-sale follow up with customers, particularly when it comes to online businesses. We should look at the time after a sale as an opportunity not only to improve our products but also to establish long-lasting relationships with our customers.

It takes much more effort to win a new customer than to maintain a relationship with an existing customer. But maintaining current customer relationships is just as critical and I’d even dare to say, more important than gaining new customers. What can we do to keep our established customers feel appreciated? You need to follow up with your customers.

Following up may be as simple as writing an email or giving a phone call to a customer a few weeks after a sale. At Screaming Bee, I make it a personal goal to contact every customer that buys our voice-changing software, MorphVOX, within 2-3 weeks after a sale.

Does this take time? It sure does. Is it worth it? Absolutely! Not only does this allow us to get good feedback from customers in order to improve our software, but also it establishes a more solid, long-lasting relationship that goes beyond the point-of-sale.

Most people were surprised that I would be willing spend the time to talk with them and were touched by the personal attention they received. And I was also surprised at how uncommon it was for online businesses to follow up on their customers. Some of the typical comments that I have received as the result of my efforts include:

”I really appreciate the personal touch, vs. the usual automated ‘we have received your email’ garbage, followed by... well, nothing usually...”

”Huh, never had customer support quite like this I appreciate it...”

People don’t like being ignored and definitely like being heard. There are many businesses that are ignoring their customers and, as a result, losing them.

Your current customers are the heart and core of your business. These customers provide return business and also provide the essential word-of-mouth promotion that no clever advertisement or marketing scheme will ever out-perform. Treat your customers like your own family. Go out of your way to communicate with them. If you neglect them, they will go elsewhere.