Understanding is the fundamental key a good relationship management in business. Understanding the other parties’ feeling and position creates an effective and efficient business relationship.The easiest method to understand what is important to another party is to ask them what they want and listen to what they have to say. When the other party realizes this, they would feel the importance given to them.
Business relationships require parties to openly express their feelings and positions on all matters pertinent on the relationship. Assuming that the other party understands our needs and should give us when we need it without asking for it is not a good practice.
Respect Others
Respect is the key to business to business relationships. In order to create a more effective relationship, parties should treat each other with respect. You can show respect just by listening to the other party and by trying sincerely to understand how they function.
You can also show respect to other parties by confirming that they are doing everything they can. The opposite of respect is quick forming of judgments based on unfounded facts and prejudice. Respect is the very foundation for a great business relationship management. This also means respecting yourself and respecting others.
Be Open
Another key area in forming an effective relationship is to tackle differences of the other party directly.
Differences between parties or people are quite interesting. For example in a conversation where each party listens to the other party, you may observe that each is having two different perspectives. To build a stronger relationship, you must be open. Don’t go brooding over misunderstandings; let it out.
Work towards a win-win solution
This can be done when at least one party acknowledges that the relationship is important. That party would then exert more time, effort and energy to understand the other party’s needs and deal with it to get it out of the way.
Should they fail, it is comforting for that party to know that they tried.
Effectively listening and no pre-judging
This is important if parties are to understand each other. Informal discussions are conducive for parties. They bring out issues and concerns comfortably. They also feel more relaxed making them think more clearly.
Developing an atmosphere where the other party can express their feelings when they need to is also important. When parties fail to express whatever is on their mind or their feelings, it can get in the way of building an effective relationship.
You should be aware that certain things exist naturally but should be controlled in any dealings in any relationship.
Human nature is one. Some of these things found in a relationship also include a history of stereotyping or mistrust, blaming the other person or party for a strained relationship, excluding the other party’s feelings when focusing on a task, no clear and defined objectives, roles and expectations of each party in a relationship is also unclear.
Relationships are important to anyone, addressing issues and problems right away is a must to further improve the relationship. As they say ‘No man is an Island’.
Entrepreneurial Learning
Every entrepreneur should play a role in building an effective business relationship. It doesn’t only effect your employee or client, but the society who makes an impression about your company according to your behavior. Any problems or issues, always be there to help them to build a strong entrepreneurial relationship.
