10 Reasons Why Business Relationships Are More Important Than Sales Alone

Successful businessmen and businesswomen are very good at building and maintaining trusting business relationships with their employees, co-workers, business partners, suppliers, customers and everyone else who directly or indirectly contributes to the success of their company. Even businesses with high quality products and services have failed in maintaining their success because they have not been able to nurture relationships with those who matter.

The world is not built on products and consumers, but on people and their relationships. And these people want to form genuine trusting relationships with those they want to do business with. No matter what type of business you are in, you need to be very skilled at establishing positive business relationships. Here are ten reasons why this is more important than worrying about sales:

1. It Will Improve Your Communication Skills

Communication is vital when establishing business relationships, in order to impress your customers, employees, suppliers, and business partners. The frequent communication between you and them will undoubtedly better your communication skills and strengthen your confidence in interacting with others. When you are confident during communication, you will be able to establish even more relationships without much effort.

2. It Will Promote Friendship Between Business Partners

Business relationships can turn into long-term or even lifelong friendships. Needless to say, being friends with someone means much more than being their employee, client, or business partner. With friendship comes trust, fun and much more. By building good business relationships, you will have more friends in both personal and business circles and get more value from them, just like they do from you.

3. You Will Feel More Fulfilled

Business is not just about profit. The joy that comes from profit is usually short-lived if we do not maintain that profit. But the joy and fulfillment that comes from positive relationships lasts longer. And the more fulfilled you are, the more motivated you will be to build even more relationships.

4. Clients Will Keep Coming Back for More

Attracting customers who come once and never come back will not help your development in the long run. In fact, growing a company to the point of commercial success requires building a large set of loyal and repetitive customers. Now the business world is leaning towards a subscription model whose ultimate goal is to establish and maintain business relationships with customers in the long run.

5. Good Relationships Will Help Build Your Brand

The long-term success of your business largely depends on your reputation. If you are kind, polite and attentive to your customers, employees and business partners, you will ensure a good reputation for your company, and people will consider you and your company to be trustworthy and experienced.

6. Easy Promotion of Your Business

Oral recommendations are one of the most effective marketing methods. Once you establish good relationships with your customers, employees, and others, they will become your marketing agents. They will introduce your company to their friends and relatives. Such customers have no doubt about your business because they got to know your company through people they trust.

7. Teamwork Makes the Dream Work

A healthy relationship between you and the employees and between the employees themselves is crucial to the success of your business. If you treat them with respect and celebrate their successes (no matter how small), you will increase their productivity, dedication, and contribution to the growth of your business.

8. Ensuring Customer Satisfaction

Mistakes are common in business. There will come times when you will disappoint a customer or misunderstand you. In such cases, it is important to resolve any issues. Most clients can easily forget past problems and get along well with you again if you treat them respectfully and listen to them. Even if customers are upset about your mistakes, you need to establish a positive relationship with them.

9. Navigating Through Difficult Times

In difficult economic times, people – including your customers – lose money. However, if you have built a solid relationship with them in the past, they will still do business with you, no matter how infrequently or often. This is because small deals that will be made at such times will be made between friends.

10. Growing Network of Connections

When you build positive relationships with your customers, suppliers, employees and business partners, you will enjoy the aforementioned benefits. And because you will undoubtedly want more of these benefits, you will be motivated to build even more relationships. Those with whom you have established relationships will introduce your company to more people with whom you will be able to establish new relationships.