The Importance of Relationship Building for Business Owners

Whether these actions are applied to your personal or business connections, the result is a partnership built on respect. But a strong relationship is not built overnight. Relationship building is an important step in the networking process that goes beyond collecting contact information. But where do you begin when trying to strengthen your business relationships?

 
Business Networking

Meeting others through networking helps develop our resources and achieve innovation through partnership. It starts small with casual introductions and builds up to discovering ways we can provide value through our own expertise while also leveraging the skills and connections of our partners. By building upon your connections and developing relationships, you become a trusted thought leader with access to a much wider, and higher value, professional network.

Staying Connected

In order for those new business relationships to flourish, it is important to build on them over time. Without consistently revisiting those relationships, credibility is eroded and two individuals become strangers again. Both prospective and existing relationships need follow up, communication, and development. A quick phone call or visit goes a long way in maintaining and building a relationship. 

By utilizing networking to meet and connect with others and strengthening those connections through ongoing relationship building, you can build a more robust and resourceful network. Strong networks are mutually advantageous to the success of both parties, leading to trusted connections and sound business partnerships over the long run. 

Some easy ways to network include:

• Sending a brief email note to your contacts during holidays
• Establishing a personal newsletter to keep contacts updated
• Collecting testimonials (and following-up on negative feedback)
• Scheduling quarterly calls to ensure you’re top of mind

Partnering with Kearny Bank

Follow-up is a crucial skill when it comes to the longevity of your partnerships, but that doesn’t mean it’s all on you. Identifying the people in your network who are likely to know when things in your local community or industry are happening is a great way to stay in the loop without having to be everywhere at once. Having a relationship with a manager at your bank, for example, will ensure that you don’t miss out on financial opportunities for your business.

Find your local Kearny Bank branch to connect with us today.