Business values are the core principles or standards that guide the way you do business. They sum up what your business stands for and what makes it special. While business plans and strategies may change the core values of your business remain the same.
VALUES IN BUSINESS
Just in case you were in any doubt about the value of relationships in business, here are 7 ways they can really benefit you.
- Sharing advice. Within your network there will be someone with experience or expertise in most areas who can give you a few pointers.
- Sharing leads. Just one close contact doubles your chances of knowing someone who has the news, information or resources you need. The more you focus on your network and relationships, the better connected to opportunities you’ll be.
- Investing opportunities. Building a great rapport with others may help raise finances to develop an idea and grow your business.
- Word-of-mouth. Many businesses will tell you that they get the majority of their business through referrals. These referrals come from business associates, friends, family, and satisfied customers. It’s a free, unbiased, and extremely effective way to promote your work and generate more business.
- Create. Your relationships create new relationships. If you work closely with someone who you’ve impressed, they’re more likely to recommend you.
- Partnerships. One of the best reasons to keep up your relationships is because you never know who one day you’ll be working alongside. People change companies all the time. Someone who is a colleague from a previous organisation may end up sharing the cubicle next to you at your work, or he may be able to help you find the new hire you’re looking for. Fewer enemies, less stress, and no more closed doors.
- Treat everyone in a business with respect, from the cleaner to the MD; they’ll all play an important part and one day the cleaner may be the person you answer to!
- Be honest, and have a never say ‘no’ attitude, especially when you are growing. Find areas of vulnerability in your customers business and find ways to help!
- Make the client feel like your number one priority, always.
Tyler Lemay, MD Land Sheriffs
- Nothing reinforces a professional relationship more than success.
- If you think it’s expensive to hire a professional, just wait until you hire an amateur!
- Think big and don’t listen to people who tell you it can’t be done. Life’s too short to think small!
Paul Tanner, PDT Design
MISTAKES TO AVOID
“Get closer than ever to your customers. So close that you tell them what they need long before they realise it themselves.” – Steve Jobs
With all this work and benefits, there must be some potential pitfalls as well, right? People make plenty of mistakes, so watch out for these ten:
- Not being personal. Don’t just talk about business.
- Not being appreciative. Make a conscious effort to be grateful.
- Failing to be consistent. Treating everyone you meet the same way helps with sincerity.
- Acting professionally in bad times. If things go bad, be upfront about it and offer resolution.
- Not being reliable. Don’t miss meetings, and don’t flake on promises.
- Loose lips sink ships. No matter where you are or who you are with, you are representing yourself.
- Surrounding yourself with untrustworthy people. You will be judged by the company you keep.
- Keeping too many secrets. Be as transparent as you can, people don’t like shadiness or dishonesty.
- Networking involves building and developing relationships over a period of time. Don’t go to an event and expect to generate more business instantly, but do expect to meet interesting people who may prove to be far more valuable to your business in the longer term.
- Having the right people doing the right jobs in fronton the right customers is essential to growing your business.
Rina Sond & Catrin Mills, Longmores Solicitors