5 Strategies to Master Profitable Business Relationships

Because relationships are the heart and soul of business, I've gleaned five powerful strategies to master Profitable Business Relationships.

Profitable Business Relationships

I think one of the best compliments I ever received was, “Geez, you’re like Tim Ferriss and my Italian Grandmother had a love child!” You’re welcome for the mental image, by the way. In this case, the “Italian Grandmother” part of the equation refers to my unabashed enthusiasm for bringing people together and extolling their many talents and virtues to each other. I adore connecting wonderful people to each other and watching the collaborations, opportunities, and new ideas that happen as a result of those connections blossom.

Relationships are the heart and soul of business, that pumping lifeblood that keeps us all growing. So in concert with my character, and my commitment to bring together amazing people and resources, I’ve gleaned 5 powerful strategies for you to use-regardless of the type of business you’re in-from brilliant entrepreneurs I admire along with one of my very own habits for spinning relationship gold.

1. Spin a Web of Warm Introductions

Authors interested in having their books turned into audiobooks often send me copies of their work for review. Regardless if we work together, I make a point of introducing them to someone in my network who would be a wonderful connection for them, and vice versa. Not only does this delight everyone involved, it keeps my services as an audiobook and podcast producer top of mind.

How do you easily create a “warm email introduction” effectively? One quick and easy method is to go to your colleague’s LinkedIn or “About” page and use the first couple of sentences as your email copy. Here’s an example of a warm introduction email I just recently sent to give you an idea, along with an example of the copy that I give my referral partners so they can easily introduce me to the people in their circles as well.

2. Make Sure Everyone Wins

As the host of an annual virtual summit, Bailey Richert suggests building business relationships is about creating projects and partnerships where everyone involved wins. “No one wants to feel like they’re being invited to the party purely for what assets they can bring to the table. They also want to walk away having benefited in a concrete way,” she says.

Bailey states one of her biggest relationship-building tips when working on her summit is to email every speaker individually. Mass emails, while faster, do not make your partners feel valued. Instead, they can work against you, making partners feel like they’re being leveraged. Instead, personalized emails let partners know you are concerned with their success and overall satisfaction with the project being conducted.

3. Take Time to Authentically Spread the Love

Intuitive business coach, Rebecca Liston suggests that using social media isn’t about lead generation but about deepening the relationships with people we already know. “Mastering business relationships is all supporting one another to shine because we simply want the best for one another.”

Rebecca says that you can easily do this by commenting on the posts of people you know and sharing their information freely and genuinely. I do this because I want to, because I care about them, and because I want them to shine. Each week I “Spread the Love” about a colleague that I adore, and respect. I write a personal note about who they are to me, and why I think the world of them, and why I think that the world ought to know them

4. Show Up (for Real)

“One of the biggest things I’ve learned this year is to show up,” says Stella Orange, a marketing teacher. Orange draws inspiration from her days as a playwright, who regularly attended friends’ performances and openings. “Nothing says ‘I care about you’ like showing up for an event,” she says. If you can’t get there in person, she says send a card or flowers.

One of Orange’s best tips is to nurture personal relationships over time. Check in with colleagues and promotional partners periodically, to stay current and connected. Keep track of what you talked about, and carve out time each week to cultivate relationships colleague relationships. Those conversations build rapport and trust over time, and lead to the most fruitful, organic and rich collaborations.

5. Reach Out With Genuine Interest

“Not dropping the ball on follow up has been huge,” says Sarah Dew, a marketing strategist. It’s easy to have an initial conversation with a potential partner but to in order to grow and nurture that relationship you have to have authentic connections through out the year. 

Sarah’s best tip is to make sure you check in with your colleagues and partners frequently and regularly. Always approach every interaction thinking, what can I do for them? Is there some way I can make their lives easier or brighten their day? Consistently following up and staying connected will quickly turn your partners and colleagues into close friends, who will have your back when you need it. 

What are some of your favorite ways to build business relationships?

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