All businesses, large and small, at their core are really built around relationships. Your relationships as a small business owner include those with customers, vendors, employees, mentors and your friends and family. Where people are involved, there are always unique challenges and being successful requires that you manage these relationships well and identify and solve problems early.
By operating your business with integrity and honesty, you make it easier on yourself to address issues without being challenged by others. Be as transparent as possible in your business dealings. If you want your business relationships to stay strong, be available to discuss concerns and problems when they are brought to you.
The old saying "the customer is always right" is usually right and, even when it isn't, they should feel like it is. Caring for your customers is at the heart of your business so staying in contact with them and identifying problems early prevents small issues from growing larger. When possible, admit any mistakes early and make quick corrections which actually increases customer loyalty over not making mistakes at all.
Vendors can be a source of frustration for small business owners. Why? Because their issues often cause problems for your customers who do not want to hear excuses. Be up front with vendors about your expectations. When addressing a problem like late product delivery with a vendor, explain how it impacted you and the customer. Don't let small frustrations build to the point of anger. If problems continue, shop around early for a new vendor.
Your employees are the backbone of your business. They are free marketing, customer service and support for you. Provide them with a solid understand of their role and how it fits into the business's overall success. Be available to listen to ideas and concerns. Learn to identify the early signs of an unhappy team member because they can infect the entire business culture with negativity.
You cannot make all employees happy, but by providing challenges, proper rewards (not always salary or bonus), and some flexibility you may be able to positively improve their work life. However, some times hiring mistakes are made or an employee's performance is deteriorating for some reason that you cannot impact. When an employee is impacting your business, you serve your customers, your team and often the employee by terminating the relationship. By following proper employment law and your human resources policies, you can feel confident when you make this difficult decision that it was the right thing to do for all concerned.
A group of individuals who are often forgotten, but are also impacted by your business are your friends and family. A small business can inadvertently consume your mind, your free time and impact your personal life. It may be too late for your particular circumstance, but it is helpful to paint a very realistic picture of what to expect in the first several years of your business. Allow friends and family members to discuss their concerns with you freely and, as much as possible, set boundaries and delegate to prevent yourself from working an unreasonable amount.
Staying aware of subtle cues and early warning signs in your various business relationships is crucial. Respond quickly, stay open to input and be appreciative to those who support you. Your business will be the better for it!
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With 30 years of consulting experience, Steven Schlagel offers
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