Posted by: Dexter and Pamela Montgomery | December 22, 2012

Building Better Business Relationships

JT Foxx_Dexter_Steadman Graham_MegaPartnering
Dexter with JT Foxx and Stedman Graham

Do you have the types of relationships that are beneficial to your career or business? Are you networking with the right people? As you know, Your Network equals your Net Worth!

Here are seven reasons why your success depends far more on those all-important relationships than you realize:

(1) Any entrepreneur will tell you that their greatest asset is their network or circle of influence. It’s where opportunities come from. And when it comes to networking, doing it old school is a major distinguishing factor versus social networking. When you have a personal relationship with someone that creates a level of trust that sets you apart from the virtual hordes on the Internet. People do business with people they trust and know.

(2) Strong relationships make it easier to get information. Information is power. It could be about a major project, a potential customer, a big deal or ways to save money. When it comes to important stuff, you have to give to get, and you’re not going to get anything valuable from somebody who doesn’t have a relationship with you.

(3) Relationships get people through tough times. We’ve learned that, all things being equal, a good personal relationship will help you keep your job, win the business, or gain whatever it is you need. It can make the difference when times are hard. It also means you have someone to lean on. Try leaning on someone you hardly know.

(4) The bigger your business becomes the higher the stakes, the bigger the deals, the more important everything becomes. And that means people have to look you in the eye and feel confident that they know who they are dealing with and that you’ll do what you say you’re going to do.

(5) Companies today are leaner, and that means they have fewer, but stronger relationships. No kidding. It’s the same reason why manufacturers minimize their number of vendors, suppliers and components. Because it’s more cost effective that way. Also, there’s a cost associated with bad business because you didn’t know the person as well as you should have and he failed to meet a commitment. In addition, they understand that building stronger relationships with customers, the create clients for life.

(6) It may be easier than ever to work and communicate virtually, but all that does is level the playing field, meaning there’s nothing that distinguishes your relationship with an individual. There’s no real connection, no real bond, and when push comes to shove, you can’t expect that person to do anything special or to go the extra mile for you.

(7) Building good relationships is important in just about every other country on earth than they are in the U.S. Why that is, I don’t know. It seems as though every culture devotes more time and energy to personal relationships than Americans do. And the more global our markets become, the more important it is to get with the program.

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  1. […] Building Better Business Relationships. […]

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