Latest / It's Time for Success: The Business Insights Podcast / Building Relationships for Business Success with Sharon de Koning
Transcript
- Sharon DeKoning: [00:00:17] Welcome back to It's Time for Success: The Business Insights Podcast. My name is Sharon DeKoning and I am the host of the podcast. Today I want to talk about something that often gets overlooked in business and is absolutely critical to success, building strong partnerships and relationships. I have a phrase I like to use, a business builds a community, and a community builds a business. It is deeper than that, and often the benefits will not show up for a number of years later. Today we are talking about relationships with suppliers, other businesses in the community, organization, and of course our customers. These connections aren't just nice to have, they can and will make or break your business. Let's dive into it. Why these relationships are so important, we're going to talk about how they impact your business and some strategies to make those connections even stronger. Sharon DeKoning: [00:01:13] Let's start first with community connections. In any business, it's easy to get caught up in focusing only on our day to day operations. We get consumed within these four walls, we get sidetracked. Before you know it, you get here at eight. Before you know it, at six, something like that. It's a blur, our days as entrepreneurs. That has happened to me for about 18 years. I come to work, I work, and then I go home. I've been doing It's Time Promotions for about 18 years, and the last three years I can say that I'm getting better at being involved in the community. Let's take my failure with a grain of salt, and hopefully somebody out there listens to me and learns by it and jumps on the bandwagon really quickly. Stepping outside of your business and actively engaging with your local community is a game changer. I am very introverted, I know people think that's crazy and people tell me that all the time. I am game-on at work, 100%. After work, do you want to go here? Do you want to go do that? Nope. I'm very introverted, and to get me to go into a room where I know nobody, kind of makes me want to throw up. It's not my strong feature, and it makes me feel very uncomfortable. Therefore, I will find every excuse in the book not to do what I know I need to be doing. But there's ways around it. It's not easy, but keep in mind it's important. It's always not easy, those first few times. There's things that I've learned over the years, even the way you stand, make yourself feel open. When you go to those events, make sure you're standing straight, your shoulders back and do not cross your arms. Be open to people, do not turn your back on people. There's so many different ways of making it a little bit easier for people to approach you. That might be a different session, we'll talk about that. It is awkward, but it is critical for your business. Sharon DeKoning: [00:03:03] By building relationships within your community, whether that be with other businesses or organizations, you enable growth through collaboration, support, innovation, and possibly an opportunity. Sometimes opportunities don't come down the road for years later. We actually have a podcast coming up with Pack Wong, and he explains relationships that he's built over the years and how that opportunity didn't arise for many years later. Just being aware, be out, be present, talk to people, be in your community, and he's a prime example of that, and I am a prime example of that also. Even though they may be not manifested, but being out in the community and talking to other businesses. I've actually had people reach out to me with opportunities. Whether that be by their business, or maybe an employee, maybe they have reference of somebody that might fit in my team. There's so many different ways of winning through it, so I highly recommend getting out of your four walls, out of your comfort zone, and attending these community events. Sharon DeKoning: [00:04:06] When you're out with other businesses or community organizations, you're not just building partnerships, you're creating a network. You're creating a network of resources. Once you get to know these people or these organizations, you can reach out to them for ideas. For example, do you know of anybody that might fit our front end line at It's Time Promotions? That could just be somebody that you've talked to, resources you have more connections. That is just one example. These connections allow you to refer business back and forth. You share your insights, and sometimes an opportunity may arise that can change your life, which is exactly what I was talking about before. It may not be right now, it may not be tomorrow, but it will be someday. Just do your due diligence now for your future. Here's an example. Partnering with local organizations for events can help you reach new audiences that you might not have access to on your own. When you go to these events, you're talking to somebody that you kind of know, they might know somebody who you don't know at all, and it might even be in a total different network of work. That is a cool way of getting to know everybody. Just be open minded, shake their hand and introduce yourself. There's another way, you could partner with local organizations for events. Whether that be through sponsorship, a speaking opportunity, or even just being present by a table with your staff. These organizations or events, they might not need your service, but you are now on top of mind. Maybe not today or tomorrow, again, they might need it down the road. Being present for sure helps, and being top of mind for future orders. Sharon DeKoning: [00:05:48] Also, when people see your business supporting the community or working hand in hand with other organizations, it strengthens your reputation and credibility. You're notched up a little bit higher on that ladder, so to speak. They're going to learn to trust you because of that, and again, you're top of mind. Also, creates a ripple effect. Your customers feel more connected to you and your business and your brand, because they see you as an active and invested part of the community. They're going to want to give back to you. You're there, your top of mind, you're giving back to your community. Again, down the road, they might know of somebody or they may need one of your services someday. The takeaway here is simple, don't underestimate the power of reaching out and building those connections. Attend local events, network with other entrepreneurs and get involved in initiatives that align with your business values. But don't overcommit. Be mindful of the hours to run your business, be mindful of the time for your family, and of course, yourself. Your health is important as well. So those three things are key factors and do not overcommit. Yes, we need to be involved, but you need to be involved with your family and yourself. You got to pick something that's going to resonate or align with your values. Sharon DeKoning: [00:07:08] Here are some key community engagements that you can find in your community or ours, wherever you may be. I suggest picking a few that aligns with your values and your interests. Of course, it's a lot easier to talk to people when you're at these awkward conversations if you have the same interest or the same values. Keep in mind, your time available to you. Don't overdo it. The first one, top of mind for me, is BNI. It's called Business Networking International. We now have a chapter here in Lloyd which is the first ever. It's a structured networking platform. It's a referral-based organization, basically. It's really exciting that it's here in Lloydminster, I get to meet with local businesses at this BNI, we meet Thursdays. It's a great way to build our relationships, we pass on referrals, we get to learn, we get to do one to ones, there's all kinds of brilliant things in this BNI platform. If that's of any interest to you, you could reach out to me directly. I can help you with that, or even align you with one. Just Google it, BNI, see what your closest one is, if you're not listening local. It is a global organization and it's a game changer. Sharon DeKoning: [00:08:18] What about the Chamber of Commerce events? The Chamber of Commerce really go above and beyond. They're here to build our businesses, so look into that, sign up for it. They offer networking events, they offer educational sessions, and they offer community involvement opportunities. They also do here in Lloyd, and I think it's everywhere, they do the 'Business Excellence' every year. If you're a chamber, you can be nominated, maybe your company will be nominated for an award. It's a really prestigious event and it's a really great trophy to have on your table. That might be something to look into, the Chamber of Commerce, they are really active in our local areas. There's also startups in Lloyd, we have Startup Lloyd, and they offer lunch and learns. They have different topics that come, and it's usually over lunch, sometimes they do a three hour session. Something like that. Follow them on Facebook, startup in your area and be involved in that organization. You get to learn different ideas, but you're also sitting amongst some different businesses as well. Local trade shows and expos, go to them. If not, put a booth in. Of course, it's got a line. We usually do the the oil show and the agriculture show here in Lloydminster. Those ones align with our clientele, so those ones are good ROI for us, but there might be different ones for you out there if you're just starting up. If you're crafty, there's also a craft show at the end of the year right before Christmas, which is usually sold out every year. There's different trade shows out there, this past week was the gun show. Go to those, be seen, walk around if you don't have a booth, shake hands with people, just be present in your community. Sharon DeKoning: [00:09:55] Volunteer, if you have time, for the nonprofit. Partnering with or volunteering for local charities is goodwill, and darn it, it just feels good. If you have time to become a board member, they're always looking for help, so maybe that's something that you have time that you can allocate for. It's very important in our areas to help these nonprofit organizations. There's also rotary clubs right across everywhere, I think there's a Rotary Club everywhere. Here in Lloydminster, we have two different clubs, a morning one and a lunch one. That might be something to reach out to, and you can help your community by giving back through the rotary. They're always coming up with events, and it's also a great way to network with other businesses in your area. One that I do not think we have, and I've never done, is Toastmasters. That's something I've always been interested for. Talk about being out of your comfort zone, that would be it. I think that would be a great one, especially if I'm doing more podcasts. That's probably something I should have looked into, maybe I'd say less. That is a great way of getting out there, getting outside of your comfort zone. As we all know, you grow outside of outside of your comfort zone, so just do that. Sharon DeKoning: [00:11:01] There's also cultural civic events. That could be from parades, festivals. Often as a business, you can put a float in the parade and throw out your wares. You know where you can get your wares from, that would be us. That would be a good way, also, of community efforts. The community fairs, for example, they put a lot of effort into doing that kind of stuff. You put a float in, that would be a great one. There's also festivals in our areas that you can be a part of. The last one is sporting events. Myself, in particular my kids, were never in sports. This is something I struggle with because I don't really understand it. I'm in a lot of the other ones, so I can't do all of them. But if you're into sports and that's what you align with, your kids are in it, that's the one that you're going to want to do. Our organizations need help with sports, and to just be present and cheer our teams on locally would be great. Those are a few quick tips of how to step outside your comfort zone, be more active in your community and to give back into your community. Sharon DeKoning: [00:12:02] Next key point is building strong relationships with your suppliers. I cannot stress this enough, our suppliers and vendors are crucial. They are absolutely critical for creating a strong business. Essentially, they are your partners in your business, if you think about it like that. When you take time to build a positive and mutually beneficial relationship with your suppliers, you'll notice a lot of advantages. For example, suppliers who trust you and value your business are often willing to go above and beyond to help you out. Again, I've been doing this for 18 years and some of my suppliers I've had for 18 years. We have a great relationship, we're on text messages, we bounce things off each other. Sometimes we just call each other up and talk our industry. What's coming down the pipelines, or what do you foresee for next year? That kind of stuff. That gives us the advantage of staying ahead. Other advantages could mean quicker turnaround times. I have a story, I had a customer reach out to us before Christmas and everything was go go go. When we get busy, our suppliers are busy, the freight trucks are busy, everybody's busy. Timeline is iffy sometimes, at that particular time of the year. I had a customer wanting a product, I made the order to my supplier, I cc'd my rep, my contact person. My contact person replied, make this happen, to the head office. It happened, I had a happy customer. Those relationships put you above and beyond some of your competitors, if you build those relationships properly with your suppliers and vendors. Sometimes they offer priority service during business seasons, which is that example I just talked about. Not only quicker turnaround times, but also they give you priority. Sometimes access to special pricing. For example, I might have a customer that comes in and he wants, sometimes it's based on quantity too don't get me wrong, but he wants something. I can reach out to my contact and say, I need help with this. They will try their utmost best because it's us, here at It's Time Promotions. We built that respect, we do not do it very often, so when we do it, they know that it's because it's necessary. We built that respect and that communication. Or they offer special pricing, maybe a new product launch that they want to get out there, they're going to offer that to us. With that being said, the new product, we often get new product sent to us before anyone else does because they trust us, they love us, and we're going to go and experiment with their product and try to sell it for them, so we often get new products before anybody else. Imagine, this is just what works in our industry, there's different ways that they're going to give back to you in your industry. Just remember, it's not just what what they can do for you, it's about creating that true partnership, that relationship. When you treat your suppliers as valued partners, which they are, instead of vendors or suppliers, they're more likely to reciprocate. When both sides feel respected, the relationship thrives, and that can translate into a competitive advantage for your business. It is a competitive advantage in your business. Sharon DeKoning: [00:15:14] As I mentioned, I worked with my suppliers for 18 years. I have them on text messaging, their texts a way for questions. They're even there for concerns or wins. One time, for example, our supplier is Kuma. I did not sell my particular customer that Kuma, but guess what, I have Kuma on text messaging. They had a Kuma fail, and I know their lifetime warranty. I have Kuma on text messaging and I'm like, this happened, bam bam bam, fixed. Because of that text message, that relationship, I didn't get anything out of that. I was able to help my customer by a text message. I shouldn't say I didn't get anything, I didn't get anything that day. But guess what? That customer is still a customer of ours. So win-win right there. I have another quick little story about building relationships with suppliers or your vendors. At It's Time Promotions, we have a Brand Advantage Expo every year. What that is, is our suppliers/vendors come to Lloydminster, they fly in from all over Canada, and they set up all their new products to show to our customers. We send out mass emails, we want new and returning customers. What the advantage of that is, they come, they get to touch the new products, they get to ask all the questions they want to our suppliers. Feel and maybe get different outlooks on how they want to promote their business, either for that Christmas year or the coming year, and what they're going to spend their budget on. This is huge, that is because of relationships built. We set up at the Gold Horse Casino, we have the event room there, and it's filled. It is a great day, and it's a great way for us to give back to our customers. It's because of those relationships built with our suppliers and vendors. Sharon DeKoning: [00:16:59] Last key point we're going to talk about, is relationships with our customers. We can't have a business if we don't have customers. Our business coach, Jarrod Stanton, told me once, the main reason a customer leaves your business is perceived indifference. Perceived indifference is the main reason. What that means is, they simply think that you don't care. Sometimes we get busy in these four walls, we keep plunking, we're always looking for the next sale. We're looking for the next sale, but we're not concentrating on our current customers. When customers feel like they're just another transaction, they'll quickly look for someone else who makes them feel important. At the end of the day, without happier, loyal customers, your business doesn't exist. So how do you build those strong relationships and eliminate perceived indifference? The key is to prioritize genuine connections. Start by really understanding your customer. Understand their needs, understand their preferences and their pain points. Listen to them. Your business may not be able to help them with their needs, but within your organization. Everything else we talked about, your networking that you're doing, there may be other ways or somebody out there that you know that you can help them with. I have another quick story, and this is built on relationships with your customers. I had a customer come in, he's just starting up a business, it's really exciting. I asked him how business is going. He said, it's good. I said, what's your pain points? He goes, employees. I'm having a really hard time finding employees, which is pretty much standard across the globe right now. I asked him, what's the employee's job description? He says, I need drivers. What credentials do they need to have? He told me, and I put that in the back of my brain. Within a week, in my networking, when I was out and about, guess what? I was able to find him an employee. It's a great relationship, he's still working there and I have great reviews. I have just earned a very loyal customer just because I listened to him. So do that, make them feel valued. Sharon DeKoning: [00:19:03] I made a quick list of some simple ways to make them feel valued. You do not have to do all these, of course, I don't think you can do all these, and maybe some of them are easier in your line of work. We're going to go off real quick here. Use their names in emails, calls and messages. Always use their name. I had a customer in the other day, new customer, he spelled his name for me because I put it in the platform as g-e-o-f-f. I don't know if you've ever come across that, but sometimes they call it 'Jeff', sometimes they call it 'Geoff'. I just asked him, how do I pronounce that? Is it Jeff or Geoff? Anyways, his name was Jeff. Have a conversation with them, make sure you remember. Call them by their proper pronunciation name. Send personalized thank you notes after a purchase or a meeting. Anticipate their needs and offer solutions before they ask. That happens to us a lot when we go to trade shows, our team often goes. We stay on top, we go to trade shows in Calgary, Toronto, Edmonton, wherever they may be to stay current. Sometimes when we see these we think, that would be perfect for so and so, and that's exactly what happens. Anticipate their needs and offer solutions even before they ask. Provide updates on their orders or projects without being prompted. One of my personal pet peeves, whether it be for me or my staff, is when a customer reaches out to us first before we update them. That is a pet peeve of mine. Respond to inquiries quickly and professionally, whether by email, whether by text, because some of these you have them on text message, or whether that be a phone call. Make sure you respond to them quickly. Be transparent about timelines and any potential delays. This is huge. Overpromise and under-deliver, it works. The fact that when a customer calls us first, it's because we did it wrong on the transparency about our timeline and our potential delays. It doesn't happen very often, but it does happen. For example, I have an order right now. I ordered leather patches from one supplier, two from another supplier. The leather patches come on and it was wrong, it was incorrect. Now that delayed his in-hands date because I had to reorder the correct number, or send it back to the supplier and say, these are wrong, please send those. I had to update that customer with a new in-hands date for his order. That is important, that communication to keep those lines open. So make sure to be transparent about the timelines and the potential delays of getting their products or services. Sharon DeKoning: [00:21:31] Offer loyalty discounts, early access to sales or VIP treatment. Create special promotions or events just for your repeat customers. Regularly check in and see how you're doing and where you can improve. Unfortunately, at It's Time Promotions we do not do this, but I think I'm going to implement that. That's why I stumbled on that, that's clever. We have tried that about six years ago, we didn't get a lot of responses, if any. I don't know if I should take that because we're awesome or people don't take the time to do it. But it's worth trying again, because you need to grow your business, and sometimes it's by other people's suggestions for your business. Then implement the suggestions when possible and acknowledge their input, of course. Provide unexpected extras. Free samples, handwritten notes, or bonus services. Surprise them with small gestures on special occasions, like birthdays or anniversaries. Ensure your team is knowledgeable, friendly and solutions focused, which is something I think everybody should highlight in their business. Follow up to confirm their issue is fully resolved, if there's an issue. Celebrate milestones, like a customer's 5th or 10th purchase. Highlight them in your marketing, with their permission of course, as valued customers. Share insights, tips or resources relevant to their interests or business. Offer free webinars, workshops or content that adds value beyond your products, which is in turn for what I'm doing with this podcast. The podcast was built because, again, 18 years experience, I get to listen to people with their pain points, and a lot of it is just business. I'm hoping that somebody out there, this one is me talking, but we usually do interview platforms which you can listen to, somebody out there has something that they can share with one of my customers that will help them. That's the intent is helping our customers. Sharon DeKoning: [00:23:17] Another critical piece is communication. We did touch on that a little bit, but be transparent, responsive and proactive. Communication is key, whether that be punctuality for their products, whether that is being transparent. I have customers that say they want something, and I've been doing it for 18 years. I'll be like, no you don't. Be transparent, be honest, be proactive. I'd rather have, in their hands, something that they're going to appreciate than something that doesn't have the value that they're looking for. When customers feel like you're listening to them and truly care about their satisfaction, they're more likely to stick with you and become repeat customers. They're more likely to recommend you to others. Sometimes as businesses, we do make mistakes, so they'll forgive you for those occasional mishaps. Because those relationships are built, that trust in you, you have the transparency, you have the responsiveness, you have that communication, that relationship built, they are going to stick with you. They're going to recommend you and they're going to forgive you for an occasional mistake. Remember, you have two ears and one mouth so that we can listen twice as much as we speak. Your customers want to be heard when they come in, you listen. If you do these as outlined, you will grow your business. There's a book, it's called 'The 80/20 Principle: The Secret to Achieving More with Less' by Richard Koch. The 80/20 rule suggests that 80% of your revenue comes from 20% of your customers. For maintaining current customers, this means focusing on your efforts, on nurturing and satisfying your most loyal and profitable clients, as they contribute the most to your success. Building strong relationships with a core group can drive repeat business and referrals, ensuring long term growth. Figure out which one of those, or a few of those, techniques will help your 80/20 rule with your customers. Focus on those as much as you can. Investing in customer relationships isn't just the right thing to do, it's one of the smartest business moves you can make. Sharon DeKoning: [00:25:23] Let's wrap this up, it's going to be quick here. What we've covered today, we talked about community connections, we shared some ways of being involved in your community, you can go back and listen to those different tips. There's BNI startups, chamber, nonprofit organizations, sports. You have your supplier partnerships, treat them respectfully, get to know them, understand them, and be there for them and they'll be there for you. Of course, building strong relationships with your customers. Follow some of those tips, make them feel valued, and don't allow that perceived indifference to ever come into your organizations. Read the 80/20 rule, if you could. That will help you with all of these. The common thread through all of this is, business isn't just about transactions, it's about people. Mr. Dick Vokins from Image Press here in Lloyd told me once, you build relationships with people, not the company. When he said that to me on our 1 to 1 through BNI, it hit me like a hammer. I never thought of it like that. Because a lot of times customers come in to me, we'll talk and I'll know their first name, but it's like, what company are you with? I know companies more than people. That really resonated with me and it did a twist on the way I think. Mr. Dick Vokins says build relationships with people, not companies. Richard Koch states in his book, 'The 80/20 Principle: The Secret to Achieving More with Less', focus your energy on the critical few tasks, relationships, or resources that yield the greatest results and minimize time spent on the less impactful. When you focus on building meaningful relationships, you create a stronger, more resilient business. These partnerships not only help you grow, but also contribute to a more connected and supportive community. I thank you for tuning in to this episode. I hope it has given you some inspiration and practical tips to take your business relationships to the next level. If you enjoyed this, please share it with someone who might find it helpful. Don't forget to subscribe so you don't miss the next episode. Until next time, keep building those business connections. Bye for now.