Building Meaningful Relationships is Key to Growing Your Business
Jun 26, 2020
Clients are the backbone to your business and your success. Logically, the more clients you have, the more successful your business should be, right? This seems fairly straight forward – until you realize that your cost is typically between 5 - 25 times more to acquire a new client than to retain an existing client. The real key to growing your business is to focus on deepening your relationships with the clients you currently have.
After 28 years in business, I am keenly aware how important building relationships are with our clients. Yes, it does take time and effort, but the payoff on both a business and personal level is highly rewarding. Here are 5 relationship-building strategies I have found that may help you improve your relationships.
Be Authentic. Just as you build any friendship, it’s important to be yourself as you begin to establish a relationship with a new or prospective client. We are naturally drawn to people that we can relate to, and a strong relationship is built on getting to know, like and trust each other. Both parties are trying to get a sense of whether you want to work together or not, so the more honest and authentic you can be with each other, the more likely that relationship will last.
Identify Shared Goals and Values. What we have in common makes relationships stronger, so take the time to discover what is important to each other. Ask questions about their business goals and values, what their expectations are and how working together can be mutually beneficial. By understanding these building blocks you’ll be more likely to help each other succeed – whether it’s working together directly or recommending other resources that best fit the situation.
Be Consistent. Consistency is key to any relationship. Your ability to do what you say will go a long way to strengthening those bonds and improve the lines of communication. When others see you as reliable and able to keep your promises, they are more likely to want to work with you and recommend you to others in the future.
Spend Time Together. There’s a difference between acquaintances and relationships. Acquaintances are people that you meet at the occasional networking meeting or you are connected to on social media, but don’t really know well. Relationships are built by connecting with people and spending time with them face to face. Invite them to coffee or call them on the phone to simply ask how they are. Purchase a foursome at a charity golf event and Invite them to play. Always try to keep the conversation going and the lines of communication open.
Be A Connector. Most of us build our businesses on referrals mainly when one of our clients recommends us to their friends or family. A referral is always based on the level of trust we have for each other, and this trust is built over time. It’s no different when building business relationships – referring business to each other will go a long way to building trust, growing your businesses and keeping that relationship long-term.
Relationships are the key to success in business and taking the time to build strong relationships will be rewarding in more ways than one. In fact I wrote a book in 2018 all about my experiences in Golf, and how I built strong relationships through the game and how it helped build the successful business I run today. I would love to hear from you! Email me at email@example.com or give me a call @ 949-888-7837, I will be happy to set up a complimentary strategy session with you.
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