Building Relationships

Being able to build relationships is a key element of building a successful business.

Here are some key people you need to be building relationships with:

    • Employees

    • Suppliers (goods and services for your customers)

    • Suppliers (goods and services for your business operations)

    • Contractors

    • Customers

    • (Your) business Coach

    • Local chamber of commerce members

    • Local networking groups

Employees and Contractors

Your employees and contractors individually or as a whole are the 'customer face of your business', so it is vital that your operation is operating 'like a well-oiled machine'.

Suppliers (goods and services for your customers and business operations)

Great working relationships with your suppliers is another vital aspect of your business. Suppliers can be a great referral source as well.

Customers

As you service your customers it is important to build and strengthen relationships for two reasons. 

Firstly, it ensures continued cash flow by retaining your existing customers. 

Secondly, if you customers are happy with what your business is providing and how you are making them feel, then they will tell others.

Competitors

In some instances, competitors can actually help each other. Consider the following true-life scenarios:

1. A young graphic designer was setting up their own business and another business owner (not graphic design) enquired with their in-house graphic designer if they could have a look at the young entrepreneur's website/work. The business owner (connector) knew that their graphic designer was looking for another graphic designer to do some overflow work. The two Graphic Designers formed a working relationship (even though they were competitors. It was a win-win situation.
2. In one of the recent floods in south west Sydney in 2022, a conveyancer's office was flooded and another conveyancing business offered to help them in a time of crisis. There are times when building relationships can be effective.

(Your) business coach

If you don't already have one (and your budget can afford it), seek out a business coach. 

A good business coach can help you take your business to the next level. 

It often helps to have someone looking at your business from a different perspective.

An experienced business coach can do just that, and may end up a referral partner too.

Local chamber of commerce members

Join your local chamber of commerce. Part of their charter is to help foster business relationships in the local community. 

Being a member of your local chamber is a great way to locate businesses that have the same customers as you but are not your competitors. 

Building relationships with these businesses may lead to joint ventures, and you may be able to refer customers to each other. 

Along the way you are also creating awareness about your business in the local community.

Local networking groups

Networking, whether casually or within an active referral group (business breakfast groups that only allow one business per category), are a great way to meet other business owners. 

Along the way you are also creating awareness about your business in the local community.

Building relationships with these businesses may lead to joint ventures, and you may be able to refer customers to each other.