5 Ways To Build Relationships For Successful Business Collaboration
Relationship and Trust
In any relationship, regardless with your spouse, business acquaintance, partners, and friends, it takes time to cultivate a strong bond. So, how can we build a relationship for successful business collaboration? Here are 5 ways to build relationships for successful business collaboration.
Relationships are built on trust. Take an example of planting a tree and you cannot expect it to grow overnight. Just like a tree, you need to nurture, care, water and watching it grow. Trust is like glass, once broken it will never be the same again.
Before we start introducing ourselves, we need to understand who we are. Knowing where your strengths and weaknesses is a good starting point. From there, you may identify what’s your unique value propositions are as an individual:
- Business owner and entrepreneur.
- A start-up.
- Partner, etc.
As time goes by, you’ll learn how and where to improve yourself further. This will give you the confidence of approaching others and the strategies on how you want to ‘market’ yourself. In the end, you are creating your very own brand identity or personal branding.
2. Social Networking Sessions
Entrepreneurs and business owners need to be active in social networking sessions. With the current situation, it is even harder for organizations to keep their businesses afloat.
In our business world today, cold-calling, sending emails and messages are a thing of a past. Attending a social networking session is one of the best ways to meet people, to stand out and to be seen. Since the social networking sessions have limited attendance, you will meet targeted people in each session.
There are many social networking events or webinars these days. Select those you are comfortable with. However, you need to be ready when you are attending a social networking session:
- Be prepared and know the agenda.
- Introduce yourself in a clear, firm voice.
- Speak with confidence, so people may remember who you are.
- Get to know as many people as you can. Never pick and choose anyone.
- Never enter any networking session as a ‘hunter’. You would not want to be known as a hunter.
- Dress comfortably and presentable.
- Know your environment before attending a social networking session as you do not want the attendees to see un-necessary things.
- Turn off your microphone if you are not speaking.
Try to know as many people as you can during any networking session. Just because you can’t see the connection immediately, does not mean it is a wasted opportunity. You’ll be surprised that these new connections may introduce you to your future clients.
3. Social Media Presence
Social media plays an important role in how we are communicating these days. However, it is tough for someone to communicate face-to-face now with social media because there is another barrier in between. Moreover, social media is an open field. What we share online says a lot about us.
To build a long-lasting business relationship on social media it can be done through:
- Sharing educational, motivating and benefiting articles or postings.
- Share your knowledge in the related industry so people will look up to you.
- Avoid controversial topics.
- Be yourself, be transparent and no hidden agenda.
- Commenting on other’s posting in a professional manner.
As you create a positive social media presence, people will start noticing you and know you are a genuine person, knowledgable and trust-worthy.
4. Respecting Others
As we’ve shared earlier, building trust and relationship takes time. We need to be patient and respect the other party’s privacy. Remember, respect is to be earned. By earning it, we first must respect others.
Respecting others proves you are professional, reliable and patient. Take time to meet up over coffee or send private messages to them. Sending them a direct message shows you take initiative and offering a personalised value to them.
Try to learn and understand each other’s businesses before offering a collaboration. You would not want to end up with someone who is not responsible nor reliable.
Another thing you should keep in mind is managing your emotions. In any relationships, there will be ups and downs. Managing your emotions is a sign of maturity, showing you are professional and a respectful individual.
5. Be a Good Paymaster
Another way to maintain a strong business relationship is by being a good paymaster. As for business relationships, a good paymaster is an entity or a company with the ability to pay all the stakeholders on time.
Making sure you pay your loan and debt on time has many great benefits, and most importantly builds trust in business relationships. This is one of the top value that many business owners look for.
Conclusion – 5 Ways To Build Relationships For Successful Business Collaboration
Strong trust in business is essential for a company to grow and sustain as well as to develop a reputation in the market. Being honest is a respectable value in the business world.
Practising these values not only makes a company stronger but drives the company with a better direction towards achieving their goals.