A couple of months ago, I made my first overseas trek since 2017 – not for vacation – but to meet with the rest of the Fritz Financial Solutions team of accountants in the Philippines. It was important to me to show these women the time and attention needed to...
Maximize Your Partnerships: Building Strong Business Relationships
Our business revolves around relationships. Whether you’re expanding your network, collaborating with third-party vendors, or strengthening your team, building and nurturing connections are essential to your success.
Creating and maintaining all these partnerships takes work! It’s like watering the plants. After all, if you don’t properly tend to them, the connections you have worked hard to establish can wilt, or even die.
There are ways not only to sustain but supercharge these relationships. By prioritizing appreciation, commitment, and respect, you can build long-term partnerships with your clients, contractors, and community.
The Power of Appreciation
When someone goes above and beyond for your business, acknowledging their efforts goes a long way. Recognizing and appreciating their contributions makes them feel valued and more likely to continue supporting you in your goals. Here are some ways to show your appreciation:
- Leave Positive Feedback: If a partner or colleague has delivered exceptional service, leaving a glowing review on Google for their business or providing a recommendation on LinkedIn goes a long way.
- Share and Endorse: Boost their visibility by sharing their social media posts and adding your endorsement. Engagement helps their algorithm. Your support will add credibility to their work, and they will be thankful for your help in growing their audience.
- Send a Note: Sometimes, a heartfelt email expressing your thanks can be the most impactful. Building genuine connections often starts with a personal touch.
While gifts are a nice gesture, personal messages of appreciation often have a more lasting impact. I have a folder in my inbox filled with notes from clients and colleagues that is always more dependable for lifting my spirits than a coffee mug.
Commitment is Key
Commitment is the bedrock of any successful partnership. It’s about demonstrating your dedication to the relationship. No one wants to feel like they care more about your business (or your finances!) than you do. Here’s how you can showcase your commitment effectively:
- Meeting Etiquette: Even in this Zoom-heavy era, attendance and punctuality are still mandatory. Being late, canceling at the last minute or missing meetings without notice can signal a lack of respect for the other person’s time. We’re all busy with competing priorities. Treat others’ time with the same respect you wish to receive. Even if someone didn’t have to travel, they planned their day around your appointment.
- Clear Communication: If you anticipate being late or are unable to attend a meeting, provide as much notice as possible. Even a simple 15-minute heads-up can make a significant difference when you are in a bind.
- Be Prepared: Being prepared is more than just a good motto for the Girl Scouts. It demonstrates that you value someone’s time and contributions. Ensure you have the tools and information necessary for your partners to execute their tasks efficiently. If you’re discussing a certain topic, ensure you’ve reviewed any relevant documents or communications prior to the meeting.
- Reciprocate: When you promise to provide information or follow up on a matter, do so promptly. Or if information is needed from you, make the time to answer. Clear communication and accountability build trust and prevent misunderstandings. Think about how frustrating it is for you to have to request the same information repeatedly for you to move forward with your work. Avoid making your partners follow up with you, especially multiple times, which can hinder productivity and strain relationships.
Respect: The Golden Rule
Respect should be the cornerstone of all your interactions. In business, as in life, showing respect builds trust and fosters lasting relationships.
Take time to understand the challenges and perspectives of your partners. Empathizing with their needs and concerns can lead to more productive and harmonious relationships. That respect they feel builds trust and credibility.
Fritz Financial Solutions Long-Term Partnerships
Every entrepreneur who works with clients and contractors has likely experienced some common frustrations from partners who do not adhere to the practices we’ve discussed here.
I’m happy to report we have grown into a great organization with our partnerships at Fritz Financial Solutions. Over 50% of our clients have been with us for over five years, a testament to our commitment to long-term partnerships. I believe it comes down to our prioritization of proactive communication, accountability, and delivering high-quality results consistently and on time.
In the world of finance, trust is the currency that sustains our partnerships. Without trust, one of the many tough conversations often required in our line of work could end our relationship (or the business)!
By putting our hearts into building trust and nurturing these relationships, we ensure that we can successfully have even the most difficult conversations and continue to build a long-term connection that benefits us both.
What solution can Fritz Financial find for you?
Schedule a meeting with Daliah Fritz