Focus On Building Relationships Instead of Financial Transactions
Business

Focus On Building Relationships Instead of Financial Transactions

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One of the most common reasons that people start a business is to obviously generate an income. I’m pretty sure if you are one of those people that you have also been told something along the lines that you shouldn’t focus on just money as you are setting yourself up for failure and disappointment.

When you are starting out without much experience it can definitely be a trivial ordeal where obviously in your mind if you don’t focus on finance and revenue that your business will struggle to stay alive. This often makes people cynical over advices like that. If you think about it though, I’m pretty sure for most people that a lot of the goals that they have accomplished in their lives are with some kind of support from the people whom they trust or respect. It isn’t too much different in business either.

A good example that taught me about this before was one day I was talking with a lot of people who owned their own business. Certain people were pretty much in the same industry and had similar offerings from each other. It was apparent though that one person had so many different varieties in clients and was obviously more successful financially as well. While talking with them I got to learn about their experiences in starting a business and what they did to get to where they are.

One person told me how it was hard initially as there were a lot of things that he needed from an operations point of view and since he had a budget he tried to save as much money as possible by doing things himself while trying to find the cheapest solutions. With the money he saved he was also able to invest it back into his business to try and develop ways to handle things internally to avoid having to pay others in order to reduce his expenses and to be more profitable. As evident, things were growing steadily for him.

The other person did kind of the opposite. His strategy was to try and find people or companies that offered the services that he needed as he didn’t want to waste too much time on things that he was not an expert on or had the resources to do an efficient job. At the same time, he wanted to be sure that the company he chose would be a long-term solution provider where he could trust them with his current and future needs. He also mentioned that there were a lot of cheaper solutions he could have went with as well, but being able to establish that business relationship was very important to him. I then asked him why that was the case and he showed me all of the different types of client that he had compared to others. Basically, the gist of it was that by building a relationship and at the same time essentially supporting those other businesses by using their services, it naturally worked both ways where on their side if they or someone they knew needed the services that he offered they would refer to him that business. Because of that, he was able to grow tremendously.

This can be true when it comes to you actually selling something to make an income as well. If you simply focus in attracting people to buy things from you in an assembly line fashion as if they are simply another number, chances are you have to spend a lot of time to continually attract new customers and to retain your old ones. On the flip side, chances are if you focused in wanting to attract people who want to use you as a long term provider and concentrated in genuinely making them realize that they are more than just another number that they will be equally committed to always going to you whenever they can while telling others to go to you as well. I’m not sure about everyone else, but that is definitely the case with me from both a business and consumer perspective.

I wouldn’t doubt it for one second if someone out there claims that they did everything by themselves without the help or support of anyone else. However, I believe in the long run that by focusing on building that relationship with others that it will make your life a lot easier and beneficial for everyone.

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