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Business Relationships – key to business success

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2 Mins Read Time

By Mayursinh Jadeja

Key to Business Success

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Networking or creating phenomenal business relationships is the basis of any business. I believe a business relationship is a personal connection of every stakeholder with the business. Let’s point out some of them.

Services are countercyclical processes, the inline workers or front-end sales force must have good business relationships with the customers. Delighting customers will in turn generate sales and potential revenue growth. For the survival of any business, it’s integral to have extraordinary business relations.

Networking or creating phenomenal business relationships is the basis of any business. I believe a business relationship is a personal connection of every stakeholder with the business. Let’s point out some of them.

1. Client centricity

business-relationships-client-centricity

We don’t serve customers but the customer's delegate assignments and the purpose of work. Many times we are focused more on the product or service but forget to connect with our clients on a personal level. Interacting with the customers and building trust is a part of negotiating skills which most of us forget. Having excellent technical skills without business acumen will land your business nowhere.

2. Be Authentic

business-relationships-be-authentic

Get your customers aware of being heard and offer them authentic solutions leaving an impact on their minds. Failing to acknowledge the concerns and issues of the client can debar you from the race of top businesses in the market. The response and assertive tone can aid long-term relations with the client. 

3. Reliable and relatable

business-relationships-reliable-and-relatable

The digital solutions that you propose should be relatable as well as reliable. Explaining and answering customers’ doubts in understandable language while maintaining a proper tone will create sweet spots for customers. Thus reliable and relatable conversations with users not compromising on the value offered will strengthen the business relations. 

4. Contingent mechanisms

business-relationships-contingent-mechanisms

Recovery from setbacks is an art to tackle varied types of customers. A persuasive mindset and problem-solving attitude work best when things delivered are not aligned with expected. Suggest solutions, alternatives, and quick fixes. These are opportunities to build trust in your customers and means to handle hassles.

5. Customize digital solutions

business-relationships-customize-digital-solutions

You don’t sell your services but tailor and customize digital solutions on the skeleton of the business requirements shared. Delighting the customers by understanding the purpose of the request or requirements helps you expand your business exponentially.
The two pillars for any business relationship are brand reputation and loyalty. The stronger the bonds between clients and service providers the better the business. 

For any business to flourish certain cautions are to be kept in mind when dealing with customers:

6. 80/20 Principle

business-relationships-80-20-Principle

The bigger portion of the revenue comes from just 20% of the client base. Be careful while selecting your business network and circle. As service providers, we need to take special care of the 20% by not neglecting the other clients. Active listening and a flexible attitude will work great in unwanted troublesome situations.

7. Follow-up

business-relationships-follow-up

Taking follow-up on tasks is essential for any business but overdoing the same might get a bit irritating for the customers. Understanding the customer’s schedules, valuing their time might help you concentrate more on the technical aspects of the business. 

8. Over-investment in technologies

business-relationships-over-investment-on-technologies

Budgeting is the heart of any business. Going for open source software and planning to utilize tools as per your customer’s budget is critical to the aesthetics of business planning. An in-depth study of the market, technology, and future organizational strategy help you choose your options wisely.

Suggestion scheme

Sometimes good rapports with customers restrict you from suggesting to them what’s wrong. An assertive tone is the best medicine in this situation. No business owner aims to just survive in the market but dreams to grow big. An excellent business relationship builds confidence in the service providers to take risks aggressively, continuously propose innovative ideas and recover losses.

Finance and Human Resources are the two eyes of any business. There is no business without humans and so, correct alignment between a service provider and client creates implacable business relationships and in turn success. The software development firm also needs strong business relationships to flourish and grow.as software development firm we provide many it services to our clients.

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