RELATIONSHIP MANAGEMENT

Here are 12 ways that can help you establish and maintain positive business relationships with clients, team members, and financial partners.

These methods can also help you maintain existing and future relationships aimed at business growth and success:

1.    Be yourself. Being authentic can help establish positive relationships at the workplace. It may also be easier to start and maintain positive relationships if you begin them authentically. By being genuine, you can help demonstrate to your team members and clients that they can trust you. You can show authenticity at work by improving communication skills, developing interpersonal communication, and practicing active listening. This can help your relationship partners feel comfortable around you and trust that you offer sincere support and connection. Read more: Relationship-building skills: Collaboration skills: definitions and examples.

2.   Create effective networking opportunities. One way to establish effective relationships with business partners is to create networking opportunities. This can vary depending on your industry, but it might include a conference, charity event, or off-site meeting. By planning enjoyable and productive opportunities to meet professionals in your field, you can begin effective business relationships. This can also allow you to reconnect with past contacts and revive communication lines. Related: What is business networking? Tips for success.

3.    Ask questions. When engaging with a new business partner, consider asking questions that will help build positive relationships. You can inquire about the person's interests, work, or thoughts. Asking questions opens the dialogue and shows that you're interested in their views, which can lead to more positive communication. This kind of communication can make your partner feel safe sharing their ideas and thoughts in future collaborations.

4.     Set clear expectations. Another way to start a productive business relationship is to establish clear expectations at the beginning of the new relationship. This can vary depending on the relationship. It may look like sharing a company manual, conducting an introductory training session, or discussing employees' job responsibilities. For clients, this might involve a contract or an introductory meeting. During these sessions, you and the other party can discuss mutual expectations. Whether you're working together on a project or for a certain period, setting terms can lead to more effective and positive work. This positive work environment can continue throughout the duration of your relationship. Related questions: INTRODUCTION: A comprehensive guide to building workplace relationships.

5.     Look for common goals and interests. Consider finding common goals and interests that can help establish positive business relationships. For clients and business partners, this could be common financial goals, like achieving higher revenue next quarter. For team members, this could be shared career goals or interests within the industry. You might also discuss non-work-related topics to find common ground, such as hobbies. This can be a great way to connect with a new relationship. These common interests can serve as starting points for conversations as your relationship progresses.

6.  Communicate frequently. Communication is an important part of productive business relationships. Consider regularly connecting with your new business contact early on to establish a communication pattern. This can vary depending on the relationship, but could include weekly meetings, monthly reports, or daily check-ins. Setting a clear communication schedule shows your new business contact that you're reliable and eager to stay in touch. Related: 10 benefits of effective workplace communication.

7.     Set realistic goals and deadlines. Consider setting clear goals and deadlines to create more positive experiences during your business relationships. For example, when meeting a new client, you can build trust by being upfront about deadlines and project outcomes. When collaborating with team members, setting realistic goals helps them achieve success. Related: Why deadlines matter.

8. Consider a relationship management plan. A relationship management plan is a tool professionals use to build long-term productive business relationships. It may vary depending on your industry and personal preferences, but it could include a communication schedule, meeting times, and contact names. For example, when working with a new client, you might designate a team member to communicate with the client and specify how often. By planning these elements, you can help ensure the success of your relationship from the start. Related: Customer Relationship Management (CRM) guide.

9.   Create a clear schedule. By creating a work schedule for projects, outcomes, and meetings, you can foster an environment of trust and respect. For clients and business partners, this could include a contract or initial planning meeting. You can discuss the schedule with employees during onboarding or training. It’s important to stick to this schedule throughout the relationship and promptly inform others of any delays or disruptions. Related: What is a project schedule? Definition, benefits, and 5 templates.

10.  Be transparent about costs and prices. Being upfront about your costs and prices can help build positive relationships. Honesty about pricing can help clients, contractors, and partners trust you. During consultations or first meetings, share your pricing and costs upfront to establish productive relationships. When working with clients, strive for transparency regarding your fees and price changes to build trust.

11. Share important information. Consider regularly sharing information with your new business contact. This could include links, resources, training guides, or other materials. For instance, if your new business partner mentioned a project they’re working on, and you read a book about it, you might send them the book’s title. This shows your business contact that you’re thinking of them and want to share helpful information.

12.  Start building trust and mutual respect. In business relationships, trust and respect take time to build, but you can begin developing these elements early on by being honest and showing that you respect the other person. This might include maintaining eye contact, speaking positively and professionally, and respecting the other person’s time by being punctual at meetings.