In this day and age, as social media continues to be the biggest medium for connecting with others, it is important to build intentional strategic relationships that foster overall wellness, especially as an entrepreneur growing a business. It is the only way any beginning entrepreneur will sustain itself in the long haul.
Strategic relationships to entrepreneurs and business owners alike are what peanut butter is to jelly – a must-have. Without creating and building strategic relationships you will continue to lack traction and connections in your business and wonder why it is taking you so long to produce results. When building these types of relationships, there are a few things you must do to begin. Aligning with organizations such as Dr. Nancy’s Integrative Medicine where the priority is always about the people and the community; has been a great experience and a testament to the skills needed as well as making sure the values shared between organizations are in sync. According to 7 relationship-building strategies for your business, Gordon, K. T. (2004, January 04).
Successful businesses don’t just communicate with prospects and customers for special sales. Today, making your company indispensable is a vital key to marketing success. It’s a terrific way to add value and enhance your brand and position against your competition. Applying this approach to your business can change your clients’; response from “who are they?” to “I’m glad they’re here.”
Here are a few things to consider when building a strategic relationship:
Communication is key in any relationship but maintaining constant contact regardless of sales or promotion is the best way to go.
- Mix in newsletters and other types of correspondence to build visibility and awareness of your brand.
- Getting in the trenches is another sure-fire way to go above and beyond. Showing that you, the head of your organization can get in and go outside of the standard sales and marketing techniques to build solid relationships with your prospect is definitely a good opportunity to show your staff and customers that you understand their challenges and have no qualms about getting in and interfacing to produce results.
- Hosting events is a great way to get face-to-face interaction with your customer. It gives you an opportunity to interact and highlight new products and or services.
- Lastly, asking for feedback regarding your company is a great way to open dialogue between you and your customer. Customers love giving suggestions on how you can improve or what they liked about your product and or service. Providing a survey or a way to give feedback is a great way to open two-way communication and show sincerity when doing business.
These are just a few ways to begin building strategic relationships. Capital Stewardship, an organization based in Phoenix AZ, has successfully launched its business model using the above strategies.
Capital Stewardship is a personal and professional business development organization geared towards tenured entrepreneurs and aspiring entrepreneurs who are interested in getting connected and providing mentorship to scale their business to the next level. At Capital Stewardship, customer service is imperative due to the fact that your first interaction with someone can make or break a relationship. Communication and follow-up with prospects is a staple in the Capital Stewardship business model; as building strategic relationships is key to any successful business structure. Most businesses that have shown a track record for success have created strategic relationships.
An example of successfully creating strategic relationships in the business world would be how Dr. Nancy’s Medical Training Academy has partnered with the Family Matters Healthcare foundation to give back to children and families, creating a reciprocal benefit for both organizations. It’s strategic because Dr. Nancy’s Medical Training Academy offsets living expenses and housing for individuals through grants, fundraising, and donations which are in partnership with Family Matters. With strategic relationships, there are more opportunities for situations in which all parties can benefit and prosper.
Collaborating and creating partnerships is where true business thrives. Through strategic relationships and building solid partnerships, entrepreneurs pave the way for innovation and provide opportunities to show teamwork makes the dream work.
Gordon, K. T. (2004, January 04). 7 Relationship-Building Strategies for Your Business. Retrieved March 01, 2018, from https://www.entrepreneur.com/article/66228