Are Relationships Vital To Business Growth?
customer relationships

Relationships are the cornerstone of a new era of people-to-people businesses

 

All business relationships, both internal and external, are interconnected.

In terms of the whole company, you could no more separate the parts than you could separate a stem from a flower–the whole plant clearly needs both parts. The quality of relationships is a very real asset of the business. The learning, generation of knowledge, improvements and innovations that result from good relationships all contribute to the bottom line.

Internal relations take place between people at all levels within an organization. When there is rapport, trust and agreement between employers and employees, it improves the quality of internal relationships and increases the flow of communication.

External relations with clients, suppliers, public and governmental bodies, shareholders, influencers and the media help with creating and sharing knowledge, detecting new opportunities, innovating, improving products and reputation and building customer loyalty.

Relations can be at the institutional and group level but they often operate at the individual person-to-person level as well. Relationship capital considerably increases the value of the company.

A Question of Trust

Why is trust such an interesting concept?

Perhaps the answer lies with the fact that it spans both the logical and emotional aspects of human thinking and behavior. Trust flows from experience and knowledge, as well as from consistency. Nevertheless, trust is also a sense of confidence, a feeling about someone or something’s ability to deliver on a promise.

Any way you look at it, while we may use information and data, trust requires judgment and a leap of faith.
For success in business and other relationships, trust is imperative. With this in mind, how do we generate trust? If there is one overriding rule, it is this: trust has to be earned.

Andrew Sobel studies how to manage trusted client relationships. In his book, “Clients for Life,” written with Jagdish Sheth, he offers a model built upon seven attributes.

Next- 7 principles are applicable to all professionals who serve clients in all fields and industries 

RELATED POSTS

Latina IT Executive Maria Hernandez Is All About Innovation

Latina IT Executive Maria Hernandez Is All About Innovation

She left Cuba with her family as a child trading possessions and a middle class life for freedom LBT: Maria, thank you so much for doing this with us! You are an Inspirational Latina. You’ve had an interesting upbringing…Not your average childhood by any means. Please...

A Visual Artist’s Business Journey

A Visual Artist’s Business Journey

How to use your wits and artistic talents to create multiple streams of income. Ovila Lemon (known in art circles as Ladie Ovila) is an artist, graphic designer, clothing and accessories designer, and an art teacher. Her business, Mūt’Sun Artistry (pronounced...

Latina Business Owner Treats Her Skills As a Business Not a Hobby

Latina Business Owner Treats Her Skills As a Business Not a Hobby

Don't let self doubt and fear become obstacles to what you are capable of achieving.   Today we interview inspirational writer and coach Lucy Brummett, founder of lucybrummett.com She’s funny, bright, and full of wisdom. Read on to hear her story as a Latina...

Polls

Sign Up for the Latin Biz Today Newsletter

Video Gallery

PR Newswire

Featured Authors

avatar for Tara OrchardTara Orchard

Tara Orchard is a coach, trainer, consul...

Successful Leadership Through Perspective

Money

Cash Flow Management for Small Business Owners

Cash Flow Management for Small Business Owners

A requirement for every successful small business and enterprise.   Cash flow management is the process by which an organization maintains control over the inflow and outflow of funds. The fundamental goal of cash flow management is to ensure that the incoming...

Talent/HR

Legal

Marketing

Strategy

Entrepreneurship – Do It Your Way

Entrepreneurship – Do It Your Way

One of my favorite lines that I often quote is the hook from Frank Sinatra’s My Way— “I did it, I did it my way.” As entrepreneurs, we are generally the types who create our own rules and do things our own way. Sometimes it's good to reflect on why this individuality...

Fashion

Food

Music

Sports

14 Takeaways From the World of Sports Business

14 Takeaways From the World of Sports Business

Check out these quick snapshots across the sports industry in May 2022 Welcome! Well, I am apparently over my anger about the baseball lockout. Yes, I am following the game to a degree, especially because the Mets are off to a good start. The New York Yankees are also...

Innovation

Work, Life & Culture

A Visual Artist’s Business Journey

A Visual Artist’s Business Journey

How to use your wits and artistic talents to create multiple streams of income. Ovila Lemon (known in art circles as Ladie Ovila) is an artist, graphic designer, clothing and accessories designer, and an art teacher. Her business, Mūt’Sun Artistry (pronounced...

Culture

Health & Fitness

Travel & Destinations

Hindsight Is Literally 2020!

Hindsight Is Literally 2020!

So as I was approaching my 57th birthday this past October, I came to realize that travel has been on my bucket list 40 years and that since my divorce 6 years ago, I have somehow always felt like I needed someone to give me permission to do so. Really, permission, at...

Personal Blogs

Latin Business Today

Pin It on Pinterest