Updated date:

Relationship a Key to Successful And Sustainable Business Growth

Introduction

Business is one thing that needs relationship for it's growth. Growth of any business must be traced to a good cordial relationship between the partners in business and customers as well. Business is a multi faceted in terms of relationship because you are not only dealing with business partners but also customers and as a result of this the owner of a business must device a means to have a good relationship with those that are partnering with him and those that are patronizing his business. Is only when you maintain this relationships that the growth you expect in business becomes a reality.

relationship-a-key-to-successful-and-sustainable-business-growth

How to Build a Relationship in Business for the Growth you Expect

1. Build trust with those you are doing business with: a business will bring a tremendous growth when those that are partnering with you trusts you and customers at the same time trust the product or service you are offering to them. Trust is very important in business for it's growth. Any business that lacks trust will never grow rather it will remain stunted.
2. Work with people: another factor that can help in building a good relationship in business is an ability to work with people both those around you and those that have a connection with the business by employment and partnering. Inability to work with people can limit the growth of a business. Though there are a lot of differences when it comes to working with people but you must develop a strategy to manage those differences and focus on the growth of the business. Even though as a founder of a business you still need to work with people for the growth of the business.
3. Create a formidable network: having a good network can also help in the growth of a business, network of those that have started business in one area or the other. These people that are already in various business has a lot of experiences in the area of business and this experiences will help anyone that are into business that has built a good network with them to avoid some mistakes that they have made and the more you avoid some mistakes early the more your business experience growth.
4. Working hard: this is another factor that can help to build a good relationship for business growth. Any business organization that is lazy will never desire to have a relationship that can help the progress of the business. The more a business organization works hard the more they will having an opportunity to meet new people and organizations that can help for the growth of the business. Hard working can attract people to a business in order to partner or patronize it and when this happens authomatically growth is inevitable.
5. Having quality products and services: quality products and services attract people to a business. Any business that renders quality products or services will always attract more people to it and the more people are attracted to it the more the business are enlarging it's coast in the area of relationship and at the same time bringing growth to a business. So as a business organization your focus should be on quality not quantity because what attract potential customers and partners is quality not quantity.
6. Having others interest in mind: as a business organization you must know that in business is not all about you but is also about others. Having this kind of attitude will kill selfishness in a business organization because the organization is not only thinking on what the organization is going to gain from the business but also the value that people are going to get from their business. Business is not one sided but multi faceted because it also involves others. Is only when a business organization have others interest in mind that they will concentrate on producing quality goods or services to better the life of your customers.

Benefits of a Good Business Relationship

1. It helps to build a long term friendship: having a good business relationship can create a long term friendship because friendship happens only when there is trust. And when people trust your business they can remain with it no matter the alternatives that comes up.
2. It causes customers to remain: when a business organization has a good business relationship through the value they offer as a result of the quality that people enjoy from their business people will always patronize their business.
3. There is a positive reputation: a good business relationship gives a business a good reputation. When a business has a good reputation there will always be growth in that business. Good reputation matters and for you to maintain that good reputation you must has a record of good relationship.
4. It gives an opportunity to invest or borrow money: the ability of an institution to lend money to any business organization depends on how good the relationship between the business organization is with the financial institution. When a business organization has a poor business relationship towards any financial institution it will hinder the ability of the business to borrow money from that institution. The same is also applicable when it comes to investing in a financial institution also, the ability of a business organization to invest in a financial institution depends on how intact the relationship is.
5. It creates more business opportunities: any business organization that has a good relationship to both the customers and those that are partnering with them will have more business opportunities. Because is only trust that can cause an organization or an institution to invite a business organization for more business opportunities and where there is trust there is a good relationship.
6. It creates opportunities for more knowledge and support: is only when a business has a good relationship that they are open for new innovation and improvement and support. But any business that is lacking good cordial relationship there will also be lack of opportunity for innovation and improvement.

Conclusion

A good relationship in business is the major key for sustainable growth in business. Any form of business that will ever grow to a staggering height must incorporate good relationship to actualize that.

© 2021 Chika Nwankwo

Related Articles