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Business relationships are just as vital as personal relationships
and they require just as much, if not more, work to thrive.
Customer Relationships
People buy from people they know
and trust. Yes the big box stores take business away from local stores on sheer
buying power. MANY people are getting fed up with their attitudes tho and are
returning to local shops IF the store is not out of their way AND the owner
genuinely cares about serving the customer's needs. Online, we are not as
imbalanced as the big stores BUT building a trusting relationship is harder
when the customer cannot look us in the eye and see our body language. Using
video or audio where you can will help in the personalization and relationship
building process.
Vendor Relationships
The vendors you buy your goods
from can be an invaluable asset to you and your business IF you take the time
and effort to build a solid working relationship. These people can often give
you insight on upcoming sales, what product line is moving very well, what
signage and placement is working for your competitors and more. Unless you sell
physical products online, the ability to get the insights on competitors from
vendors is somewhat limited.
Competitor Relationships
Building relationships with your
competition might seem stupid at first but it makes REALLY good sense,
especially in the time of high gas prices. People like to shop close to home
these days and 2 stores in different parts of town might agree to accept each
other's coupons, do joint advertising or mastermind sessions to see how each
can improve business without harming the other. These friendships might lead to
a variety of joint ventures.
Trade Group Relationships
Trade groups and their meeting
give you the chance to brainstorm with people in your industry that may be
doing things differently than you and they MIGHT share their successes AND
failures if you build friendships. What doesn't work in their area might be
wildly successful in yours. You'll never know about the possibilities if you
don't start building relationships that are meaningful and useful to all
involved.
A healthy personal life requires
good personal relationships and a successful business requires many different
types of successful business
relationships to thrive and prosper.
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