In today’s competitive business landscape, strong relationships can make the difference between thriving and merely surviving.Â
At CGP Group, we’ve seen firsthand how business relationships impact everything from client retention to vendor negotiations and employee satisfaction. For business owners balancing multiple responsibilities, relationship-building might seem like a “nice-to-have” rather than essential—but we’re here to explain why it deserves your attention and how to make it manageable.
Why Business Relationships Matter
Strong business relationships create a foundation for:
- Customer loyalty that reduces marketing costs
- Better terms with vendors and suppliers
- Higher employee retention and productivity
- More effective networking and referrals
- Smoother conflict resolution when issues arise
Practical Ways to Build Better Business Relationships
1. Make Communication a Priority
Clear, consistent communication builds trust. This means:
- Responding to messages within one business day
- Being transparent about timelines and expectations
- Using plain language instead of jargon
- Checking in regularly, not just when you need something
2. Listen More Than You Talk
Active listening shows respect and helps you truly understand needs:
- Ask open-ended questions during meetings
- Take notes on key points and follow up on them later
- Summarize what you’ve heard to confirm understanding
- Look for unspoken concerns in body language and tone
3. Deliver Consistent Value
Relationships flourish when both parties benefit:
- Share relevant articles, resources, or introductions
- Offer occasional extras that exceed expectations
- Remember and acknowledge important milestones
- Provide solutions, not just services
4. Face Problems Head-On
How you handle difficulties often determines relationship strength:
- Address issues promptly rather than avoiding them
- Take responsibility when appropriate
- Focus on solutions instead of blame
- Document resolution plans and follow through
5. Build Personal Connections
Business relationships work best when there’s a human element:
- Remember personal details shared in conversation
- Acknowledge life events when appropriate
- Find common interests beyond business
- Express genuine appreciation regularly
Making It Manageable: The 15-Minute Approach
For busy business owners, relationship-building doesn’t need to be time-consuming. Try this 15-minute approach:
- Monday: Send two follow-up emails to recent meetings
- Tuesday: Call one vendor to check in (not during a crisis)
- Wednesday: Have coffee with an employee or colleague
- Thursday: Send a helpful resource to a client
- Friday: Write two handwritten thank-you notes
Measuring Relationship Success
How do you know if your relationship-building efforts are working? Watch for:
- Increased referrals from existing contacts
- Longer client retention periods
- More favorable terms from suppliers
- Reduced time resolving conflicts
- Higher employee satisfaction scores
Need More Help?
Building better business relationships is just one aspect of creating a sustainable business. If you’re looking for guidance on financial strategies that support your business relationships, our advisory team is ready to help. We understand the challenges facing Wichita’s small business owners and offer practical solutions tailored to your specific needs.
Remember, in business as in life, how we treat others reflects our values and ultimately determines our success. The strongest businesses are built on a foundation of strong relationships.
