Tuesday, December 4, 2012

Business Relationships with Vendors and Fellow Businessmen


When you start a new business, you should make efforts to build business relationships with the vendors as well as other businessmen like you. Your contact and interaction with them will enhance your knowledge about small business ultimately helping you to succeed. Try to meet as many fellow businessmen as you can and pay full attention to what they offer in the form of advice or experiences. This information will help you greatly as you will learn the tricks of the trade.
·        Communication Skills in Business
Business relationships largely depend upon better communication skills which besides talking also include listening to your business contacts. When you communicate, be prepared to let others speak and try to mentally note useful tips and points for the business during the conversation. These interactions will also inform you about what the vendors and colleagues expect from you and in this way you are geared up to fulfill their needs.
·        Business Relationships are Mutually Beneficial
In order to achieve strong and durable business relationships a two-way traffic is necessary. Do not expect help and advice from the vendors and fellow businessmen all the time, you must also offer some sort of benefit for them in the form of some business advice or suggestion and providing new contacts or customers. Try to determine how you can benefit them and at the same time pick beneficial advice or new business contacts provided by your colleagues or vendors.
·        Regular Contact is Important in Business Relationships
Keep in touch with your business contacts regularly which will help in building a strong and lasting relationship. Regular contacts will inform you about their business activities and you may learn about some new business projects or developments. During your interactions make an attempt to know about their personal lives besides business, this will help in a better mutual understanding. When you are able to build strong relationships prospects of further business expansion and partnerships improve.
If you fail to contact your business relations regularly and call only when you need something from them, a bad impression will be created. The vendors or your colleagues will feel that you are using them just for your own benefit which may lead to soured relations.
·        Business Relationships depend upon Honesty and Mutual Trust
Business relationships cannot develop without honesty, truthfulness and mutual trust. You must always deal with honesty and if you do not know an answer or make a mistake, readily admit it and try to amend or compensate that mistake.

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