When you are launching and developing your small business, there will be certain connections that are absolutely crucial to your success. This is why today we are sharing with you 3 relationships that your small business must get right.
Working closely with your customers
Many small businesses carry out some market research as they first launch, and make an effort to work closely with potential customers to better understand their needs. However, this is often where the feedback ends and the relationship becomes much more about consumer and supplier.
For your business to build long term customer loyalty, you will need to go further than this. You will need to engage with your customers regularly so that they can see that you are willing to listen to their feedback and adapt and improve your business accordingly. Your customers are in the best place to help you to develop and they will appreciate your efforts to take on board all that they are sharing with you. All of this should translate into a more meaningful long term relationship.
Working with suppliers and services providers
Another key relationship for your business will be all of your suppliers and core business services, which might include anything from your packaging to your IT managed services.
Whether you are looking to negotiate good deals with established suppliers such as Superior Farms or you are attempting to reduce your accounting software costs, it makes sense that as a business you are always on the lookout to get the best possible price that you can, a price that also represents great value. Be sure that you are getting the right service and product at a cost that you are happy to pay.
You need to be looking to strike the right balance between the right cost and the right provider. You have to be comfortable with the partnership that you are forging and build trust with one another as you will become interdependent on one another’s business.
Working closely with your team
Many small businesses operate with small teams, and it is absolutely essential that you work closely with them.
Firstly, you must hire the right people, and you need to be confident that everyone will be able to work well together. When you are hiring, you are looking for the right balance of skills and experience along with how well you feel they will fit into your existing operation.
Ensure that you give everyone effective training and follow it up regularly with coaching and your support. Your team should feel confident in their abilities as this will improve the service they offer and their own morale.
Involve your team in any way that you can, so that they feel that they are an integral part of your business. They are at its core and to retain them, they need to feel motivated and satisfied in their jobs. Invite them to share their ideas and feedback regularly and thank them for all of their hard work every single day.
