SubscribeSMALL BUSINESS LEADER March 2009
Small Business Leader
Marian Banker, MBA, Business Leadership Coach, and creator of the Business Success System.
"Top Ten Rules for Building Valuable Business Relationships" ISSUE #114
March, 2009
Note from Marian
Have you found your stride in this new economy?
I'm blown away with the creativity I'm seeing being used by small businesses across the board. A couple of recently heard tactics are mentioned in my blog. Tell me about your creative strategies and tactics and I'll share.
From what I've seen so far, this is the year of building and reinforcing business relationships. In-person networking and the social media are now the popular way to start and continue valuable relationships. The feature article, "Top Ten Rules for Building Valuable Relationships", covers what you need to know to stay in the game and succeed.
Summit chat
We're still celebrating the gathering of the small business community at the Fourth Annual Small Business Summit, held February 3rd. Lots of new connections were made and many old friendships renewed. For a peek at some of the action check out the Summit "EXTRA" page for photos and more.
The March 25th Brain Exchange Roundtable features guest expert, Rochelle Togo-Figa, sales breakthrough specialist, on the topic, "The Sales Are in the Follow-up". Please join us if you can.
One more quick thing...
My brand new F*R*E*E Success Strategies mini-series was just launched. When you sign up, each day for the next 6 days you'll receive an e-mail covering one of my success strategies. There's bound to be some ideas here you can use. Sign up now.
To your success,
marian's signature
Marian Banker
Publisher
Small Business Leader
marian@primestrategies.com
http://primestrategies.com
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Success Tip
With traditional investments such as stocks, bonds and real estate being questionable investments these days, some investors are looking for opportunities to participate in potentially profitable businesses. Now might be a good time to position your business for investment capital or for sale.
Events
Brain ExchangeBRAIN EXCHANGE ROUNDTABLE
Topic: "The Sales Are in the Follow-up?"
Date: Tuesday, March 25, 2009, 6:00 - 8:00 p.m. EST
Location: City Space Virtual Offices at 817 Broadway, New York City.
The Roundtable is a great format for gaining new ideas, new resources and new connections. This month's guest expert is Rochelle Togo-Figa, Sales Business Coach, Trainer and Motivational Speaker. After being a top sales producer in the corporate world for many years, for the past 14 years she has coached and taught others the skills of selling. At the Roundtable you'll have the opportunity to interact with Rochelle and all members. Questions comments and contributions are encouraged.
Register now to save your spot.
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Take Command of Your Business, Monday, March 9, 2009, New York City
In this seminar I will share my proven 7 step formula for business success. We'll cover business status, setting priorities, creating a short term plan, marketing and promotion strategies, financial impact, taking action and assessing results. During the seminar you'll actually take the first step for your own business. All materials are provided.
NOTE: You will need to join the FREE Networking Group in order to register.
Register now.
Feature Article
Top Ten Rules for Building Valuable Business Relationships
By Marian Banker
Mutually beneficial relationships are the backbone of a healthy business. Are you TeamWorkbuilding these relationships for your business? And what does it take to create and sustain this type of relationship?
To answer this question, I decided to identify the behaviors I see in the leaders in my own small business network.
I'm drawn to people who are friendly and treat me with respect, whether or not they want to do business with me. When I see people who don't keep their appointments and don't follow-up e-mails and calls from people they know, it tells me a lot about how they are to do business with.
I like dealing with people who keep their word and follow through. These people not only get my business, they get the business of others who appreciate what it takes to maintain a valuable relationship.
The business leaders I know carry out the following ten behaviors. I'm calling them "rules" to emphasize their structural nature. As you read through these, you can rate your own behavior on a percentage basis. Then do an analysis to see where you might want to improve - assuming you agree it is a behavior you find valuable.
1 - Follow through! Think before you commit to something that you don't have time to carry out. It's a real pain to deal with people you can't count on. People who become known for following through are sought out. We all want to do business with people who keep their commitments.
2 - Stay in touch! Check and respond to calls and e-mail regularly (at least once per day). There are lots of people who do the major part of their business using e-mail. If you fall behind, you could lose out. Leaders are both pro-active and responsive
The social media offer many new opportunities to stay in touch. Just be careful not to abuse these connections. Use them to develop the image you want to convey to potential new relationships.
3 - Be in constant learning mode. Ask lots of questions. Most people are happy to share their knowledge and experiences. Pursue additional knowledge when you see a direct benefit or have an interest. It's important to keep an open mind because things change all the time - even facts. Be interested in knowing the perspective of others. It is a clue to how you can effectively communicate with them in the future.
And, remember, the better informed you are about anything, the better decisions you can make.
4 - Reach out to prospects and customers. Show you care about others. Inquire about their business, their thoughts on a relevant subject and their families. Business that's dependent on personal relationships needs personal attention. Everyone in your database needs to hear from you with an appropriate frequency. Some people will get more attention than others, but find a way to keep your name on the mind of those in your network. This also keeps your network warm.
5 - Be a resource for others. It's great when you can be the intermediary (the matchmaker) between colleagues. When someone needs a service or product that you can help provide through your referral, all parties benefit. Referrals beget referrals, even if indirectly.
A cue for making a referral is when someone specific comes to mind during a conversation. The more you do this, the easier it gets.
6 - Give recognition to everyone who contributes to your good. Saying "thank you" is a very pro-active step. It acknowledges value received. When you are recognized for contributing something of value, you feel satisfied. People follow those who are generous with recognition.
7 - Give recognition to others for their good work. This can be as simple as "great job", or as elaborate as an award dinner. Recognition of accomplishments is another way of acknowledging value. If you want to become a better leader, hang out with other leaders doing good work and encouraging others to do the same.
8 - Have a self-directed course and a written plan. People like to deal with those who know where they're going and how they plan to get there. Base your plan on self-knowledge and a clear vision for your business. If writing down your plans is hard for you, put them on your computer, your PDA, your calendar or wherever you'll be most likely to follow through.
9 - Be consistent! Inconsistency is confusing. The more consistent you can be in your messages, your behavior and your personal and business dress, the clearer and stronger your image becomes. You want to be linked to the mission of your business - and memorable. How you present yourself and your business should suit your taste, but maintain respect for your audience and the message you're trying to communicate. Looking good adds to feeling good, which adds to confidence.
10 - Enjoy your role!
Accept responsibility for being a leader; wear the role with pride and honor. Others will listen, support and follow you and will want to continue to do business with you.
Follow the rules of good business relationships and notice the impact on your own relationships, your image and your business.
The more valuable business relationships you have, the stronger your business will become.
Learn the rest of the rules of a practicing leader in the Business Success System Course, http://primestrategies.com/business-success-system , the self-study program designed to put you in command of your business.
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Success Tip
Call a former customer or client today. Find out how they're doing. Offer encouragement and ask if you can be of help in any way. Ask who would be an ideal referral for them right now. Follow through if you can. Send a "good to talk with you" e-mail as follow-up.
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About The Publisher & Feedback
ABOUT THE PUBLISHER:
Marian Banker has been publishing Small Business Leader since January, 1999. Her focus is on bringing to the busy entrepreneur a quick look into the current world of small business from the perspective she's gained through coaching, consulting and training entrepreneurs in both service and product based businesses.
Marian offers individual coaching, business support groups, seminars and workshops on topics of critical interest to small business owners. Her monthly Lunchtime Telephone Roundtable has proven to be a popular way for business owners to come together around a specific business topic without leaving their office. See notice about this month's topic in the content above.
To learn more about her services, visit http://primestrategies.com.
FEEDBACK:
Your feedback is always appreciated. Please write to marian@primestrategies.com.
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