Success in business starts with your idea but becomes successful through business relationship. Execution can only be done correctly via strong business relationship. If only you want to reach the vision of your business, don’t ignore the importance of having a strong business relationship.
Business relationship is now a part of every business because you can’t do business alone. You need the 7 type of business relationship to succeed.
But what do we have today? so many businesses have rolled out some of the relation that I am going to mention; as they focus their attention on the once they feel is more profitable to their business. Do not go that line.
Why Should I Take Business Relationship Serious?
My first answer is that you cannot move faster and farther without the 7 forms of business relationship, and you will end up putting your business under undue strain.
Also note that I am not putting into consideration the legal needs of the business relation, because my main reason for writing this post is to let you know that business relationship should be taken with a holistic view.
The 7 Forms of Business Relationship
- Business to Entrepreneur: Your business must become your own, if not be ready to loose it. This also applies to your employee, they must see it as part of their life and you have the responsibility to make that happen.
- Business to Partners: In today’s business world, entrepreneurs have found ways to partner with others to succeed. Most partnership comes to play when you need a set of skills or fund for expansion of your business.
- Business to Customer: Customers are the reason for your business existence, if you fail to relate with them then be ready to close shop. Many business owners seems to get this point right because a lot of them know that money is the life blood of business. If you must make more money, then keep sound relationship with your customers.
- Business to Business: Business to business relationship is another vital relationship that every business must keep. If you are not aware, consolidation in business terms is the act of enhancing business to business relationship which in turn increase sales. Your business cannot stand for long without the contribution from other businesses.
- Business to Government: We do business because we want to make other people’s life better in the form of meeting needs. You are helping them to create jobs for the people and adding more money into the government account through tax. This is why most countries government in our time have been helping businesses to grow by creating the business environment. Pay you tax.
- Business to Society: While your business relations with you government is official and entails some form of law; business relationship with society is on the other side of the sea. Your social responsibility brings you to how your business relates with the society. Today we see many top company engaging in adding value to the society through the establishment of foundations.
- Business to Employee: If your business must succeed, then have a sound relationship with your employee. They have the keys to your business, for you cannot run your business alone. Without your employee, you can do nothing. Even if it is only one employee, have a sound relationship with the person.
In conclusion, building great businesses starts from your idea with the contribution of other key players. Remember, you cannot builds a great company alone, even though every things might start from you as the founder. No matter the type of business, if there will be expansion, then you must have a strong business relationship.
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Josh S. Doye is a business developer, freelance content marketer. you can contact him for more enquiry via the contact page on this blog.