A BUSINESS IS MADE UP OF VARIOUS RELATIONSHIPS

YOU CANNOT run a successful business alone. We can come up with the vision and be able to design the best business plan, but for that business to reach its ultimate goal, you need help. There are different kinds of people you need to have in a business, namely business partners, employees, suppliers, mentors and clients. These people form what we call a partnership of excellence.

Business partners:

A business partner is someone you share the ownership, financial decisions, roles and responsibilities of your business with. It's actually great to get a prospective partner who has financial resources, connections or vital skills you lack. Before deciding to take a business partner make sure you get to know each other. If you have not worked together before, test the partnership out by tackling a small project together that showcases each other's skills and requires co-operation. This is also a way to learn about each other's personality and core values. At least twice a year, sit down and discuss how you envision the future of the business and what steps to take in getting there.


Suppliers:

A good supplier-buyer relationship is important. A good relationship with your supplier will cause them to deliver a quality product at the best price, will provide good service, and will be responsive to emergency situations and special requests. This supplier will be a great asset to your business.


Business mentors:

A mentor helps you avoid certain issues along the way and is a good place to vent your frustration and celebrate your milestones. If you fell you need the business mentor, make sure you find one with a good reputation and have great experience in your industry or problem area. So where do I get a great business mentor? If you are not able to pay someone for their services, there are a number of organisations and private companies that offer free mentoring. And just because their services are free, doesn't mean they're any less qualified. Some professionals become mentors to give back to their communities or to gain experience as a trainer or consultant. Here are two recommendations: Business Partners Mentorship Programme (www.businesspartners.co.za) and The Business Place (www.thebusinessplace.co.za)


Employee(s):

Employees are a crucial aspect of any business; they allow you to focus on what matters while your clients are being serviced. Employees need your guidance and attention to help them use their skills to benefit your business it's usually frightening to hire due to lack of finances, yet hiring employees allows you to be more productive, therefore helps you be more profitable. You need to have more clearly defined standards, and employee performance should be measured against those.

 

Clients:

Without clients you have no business, clients become your boss. They pay your salary, treat them right and your business will grow. There are some difficult clients who are not easily satisfied, they are always negotiating prices down; you need to decide if you are willing to work in those conditions.

Last modified on Friday, 06 January 2017 06:15

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