Building Profitable Business Relationships

If you want to work on total profit strategy, one of the elements you have to implement in your business is building profitable business relationships. The idea of making profits in your business is to build relationships that will serve as a vehicle to closing the sales.

In business, you have to think about how to build profitable relationships. It implies that you give value. Building profitable business relationships means giving better value. One of the most important component inside your business process should be analysing your performance in terms of how much better value your customer will get after doing business with you.

You have to recognise that as your business gradually develops and becomes more and more competitive, the relationships that you build and develop with your customers are most probably your strongest key asset over the competitors. If you don’t have a greater value than your competitors, then don’t be competitive.

To build relationships with your customers you have to show interest in them and know them. After all, they are the ones who give you their money so that you can pay the bills, buy your needs and enjoy the life. They are your sponsors and you have to know them so that you can continue with your life style.

Once you know them you’ll know how to please them, how to make better value in their lives and how to improve their lives.

When you make endeavour to make and maintain business relationships you get three valuable results:

1. Your relationship with a business becomes stronger over the time.
2. You get referrals and your business gets recommended to others (usually the contacts of the business with whom your relationship grew).
3. You increase your profits from repeat sales.

To achieve these three benefits you may like to follow these 10 little steps that will help you grow profitable business relationships:

1. Make them feel special. Business owners love when they feel special to you and are ready to treat you back in a special way.
2. Let them know how much you appreciate what they do and what they have achieved in their business.
3. Contact them on a regular basis, no less than once or twice a month (ideally once a week). The more you communicate with the business you want to develop and maintain relationship with, the more your mutual bond will be stronger.
4. Often thank them for having time for you and for doing business with you.
5. Learn their anniversaries and important dates like birthdays. People love when you remember them on a days that are important to them.
6. Send them some free informations that are vital for their business. Help them perform better or connect them with someone who will help them better than you.
7. Be a good friend to them. Offer your time, energy, influence and resources free of charge.
8. Make them look good in the eyes of other people.
9. Motivate them to perform better and achieve higher goals. Most business owners are not aware of the true potential of their companies.
10. Call them to business events.

By following these guidelines you will be able to learn how to build profitable business relationships that will increase your sales.