6 Tips to Improve Your Communication With Business Partners

Entrepreneurs focused on selling their products or services sometimes lose sight of the bigger picture. Selling is only one part of an effective business formula. Building and nurturing strong business relationships and business partnerships is equally important for a company’s long-term growth.

Successful business owners seek out enduring partnerships among all of their varied constituencies—from vendors and corporate partners to investors and mentors. They understand the value of cultivating long-term relationships with the businesses and clients they serve and with those they rely on to keep their businesses afloat.

Here are tips on securing and strengthening the relationships with your business partners:

1. Don’t be afraid to over-communicate

In healthy business relationships, each side depends on the other to keep informed. Offering status reports on projects or other ongoing collaborative ventures means your partner doesn’t have to ask for updates.

This approach also helps reduce the element of surprise. Just as you want vendors to alert you immediately if there’s a shortage of resources or some obstacle in delivery, you should also be sure your partners know what’s happening at your end—and that you’ll let them know if and when a problem arises.

2. Be honest, no matter what

Above all, you must commit to honesty and transparency in your business relationships. This principle alone will do more to engender trust than any other action on your part. People generally know when someone is attempting to manipulate the truth. Once someone gets a bad feeling about you and your business, it’s almost impossible to turn things around.

In the same respect, resist the impulse to pretend you have all the answers. Don’t be afraid to say, “I don’t know.” People will appreciate your honesty, particularly if you follow up with a promise to find an answer to their questions or problems.

More articles from AllBusiness.com:

• The Secret to Retaining Your Best Employees
• 7 Ways to Prevent a Business Partnership From Going Bad
• 5 Signs It’s Time to Break Up With Your Business Partner
• 7 Things Every Partnership Agreement Needs to Address
• How Respectful Communication Boosts Morale and Productivity in the Workplace

3. Always meet your commitments

Being true to your word also enhances trust between partners. When you say you’ll deliver your product by a certain date, it’s vital to move heaven and earth, if need be, to meet this commitment. Knowing that you’ll meet a promised deadline relieves your customer of any concern that things might go wrong at your end; being free of that concern also builds tremendous goodwill.

4. Offer your knowledge and resources freely

In a healthy business relationship, each party should be willing to share knowledge and resources. For example, loss prevention and asset protection are critically important concerns for many businesses. A company that specializes in security products provides even greater value to clients and other partners by sharing its expertise in business security strategies—sending along relevant articles and white papers, reporting on industry trends, etc.—regardless of whether or not sharing such knowledge leads to a sale.

5. Stay in touch and connect regularly

Without proper nurturing, business relationships can wither and die just like any other kind of relationship. Set up an automated system that reminds you to stay in touch with your partners on a regular basis. Social media tools and platforms also make it easy to stay connected.

6. Remember the personal touch

A business relationship that relies solely on email and texting lacks the grounding that comes with personal contact. Look for opportunities to meet your business partners face-to-face, in a social setting, or at a trade industry event. These experiences can significantly deepen the quality of your relationships.

Securing and strengthening a business partnership takes time and effort, but it will benefit your business in both good times and lean times. A strong relationship with a client or vendor will prove to be an asset in the event of an emergency or if a business issue arises in which they can provide valuable assistance.

FAQs about communicating with business partners

Below we have summarized the most important questions and answers on the subject.

RELATED: 12 Ways to Evaluate If a Potential Business Partnership Will Be Lucrative

About the Author

Post by: Wes Wernette

Wes Wernette oversees marketing at FireKing Security Group in New Albany, Indiana. The company offers products and services for any size organization’s security and cash management needs. FireKing's services are meant to increase a company's operational efficiency and reduce service costs.

Company: FireKing Security Group
Website: www.fireking.com