L2L Group

Have you ever been stuck in a situation where you couldn’t end an agreement with one of your suppliers despite regular delays in their deliveries? This difficulty is due to the relationship they built with you over a period time.

Strong and long lasting relationships are the pillars of small businesses, on which rests the complete structure that makes most of these businesses successful. A new business may not have plenty of money, a solid infrastructure, or world-class products and services, but it can still sail through this competitive business environment and sustain itself - with strong relationships.

A small business pursuing success in this business era should aim for maintaining healthy relationships, not only with customers but also with in-house employees and business associates. Every business partner is quite different in their individual approaches towards a business, so we need to have different ways to effectively deal with each one of them.

• Customers - The customer’s needs and desires are the sole reason for the existence of any business or organization, and as the process of selling to a new customer includes far more cost and effort than selling to an existing one, why not show your existing customers that you care about them - by regularly keeping in touch, personally requesting their feedback.
• Tailoring your approach to individual customers is a great idea - as no single customer is the same. Keep a detailed record of your customer’s purchases so that you can easily remind them of an item or service they may have forgotten, or even something new which they may not have otherwise considered. Sending customers reminder emails, phone calls, or greetings can make all the difference in the way they feel about you and your business. Also, giving complementary gifts, discount coupons, and loyalty rewards will make customers feel recognized and valued.
• In-house employees - The workforce of any business is crucial for the attainment of any measure of success. It’s important that these employees - primarily those with deserved merit, be regularly shown appreciation for their accomplishments and performance in the business. Business gifts, awards, acknowledgement bonuses, birthday gifts, seasonal and festive gifts all play a very important role in keeping your rising stars motivated and focused. These gestures of the company generate a sense of belonging in the employees, which will prompt them to identify with the company and feel a sense of personal loyalty, keeping them with the company for a much longer period of time.
• Business Associates - Business associates consist of individuals such as suppliers, distributors, and advertising agents, as well as any other people who derive a similar measure of profit from a given enterprise. These are the people who sustain the business, helping it to thrive with regular supplies, deferred credits, discounts, advertising, etc. Utilising promotional gifts, loyalty rewards and appreciations are some of the tremendous ways of expressing gratitude to any of the business associates, as all of these gestures will convey to them the valued position they hold in the eyes of the company.

The key to being successful - whether in a small business or a large company, will always be a carefully built solid foundation, along with mutually beneficial business relationships with each of your associates.