How to Build Valuable and Lasting Business Relationships

by World Winn World Winn

Even a solo entrepreneur running a startup in his basement soon realizes that they cannot do everything alone. Building lasting business relationships is an integral part of an entrepreneur’s life. However, relationships (at least those worth having) don't just develop on their own. Instead, they have to be pursued, cultivated and maintained. Here are a few essentials that every entrepreneur needs to know about building valuable and lasting business relationships.

Recognize Shared Values and Goals

Entrepreneurship is a competitive space to be in and this sometimes brings out the worst in some people. Positive business relationships must be built on a foundation of shared goals and values otherwise they don’t last. Ensure that your interactions with others are based on shared values such as helpfulness, respect, honesty, kindness, integrity and knowledge.

Be Your True Self

It is easy to create what you think is the perfect persona but business relationship will fail if others realize you are not being true to yourself. Be authentic and embrace your strengths and limitations (as you work to overcome them). Similarly, learn to appreciate people for who they are and not who you think they should be. Connecting with people or businesses with genuineness, sharing your true point of view and beliefs generally supports long-term relationships. A good business coach can help you to be more tolerant and open-minded to different ideas, cultures and ways of doing business.

Connect People to Each Other

One of the foundations of building a prosperous business is networking. Connecting people with others and having good intentions while doing it is a great way to solidify a business relationship. These connections may not always work out but it is the thought that counts. Networks are valuable in entrepreneurship and sharing your contacts will encourage others to reciprocate.

Practice Reciprocity

Whether you are dealing with suppliers, other businesses or clients, ensure you are provide something of value to the person you are dealing with. This trend is noticeable in modern businesses which share expertise, information and content freely with prospective clients before approaching them for a sale. You may not always get what you want in the short term but building loyalty and a strong foundation for relationships is far more valuable in the future.

Any accomplished entrepreneur will be quick to admit that their success has had a lot to do with the strong business relationships they have formed along the way.

Building long lasting relationships doesn’t come naturally to all people. WorldWinn has success coaches serving the Greater Toronto Areas of Mississauga, Brampton and Oakville to help you build and grow these valuable and lasting relationships.