Building Relationships: Vendors, Customers, Other Owners

Building Relationships: Vendors, Customers, Other Owners
Track 1: Plan and Build the BusinessLesson 34Time to do: 1–2 hours a week, ongoingCost: Free

Part C: Prepare the Business to Launch

When I look at a brand-new business, I do not see a product or a storefront. I see a handful of relationships that either exist or do not yet. The supplier who will or will not rush an order. The first customers who will or will not tell a neighbor. The owner across the street who knows which landlord is fair. The two or three people who understand what you are trying to do and will tell you the truth about it. Everything else in the business is built on top of those.

Most owners let these relationships happen by accident. I want you to build them on purpose, and I want you to do it in four directions at once.

Vendors

Your vendors are not just people you buy from. They are people who have watched dozens of businesses like yours start, and they know things you do not. Which products come back. What a typical first-year order looks like. Who in town pays late. When you treat a vendor as a relationship rather than a transaction, you get better terms, earlier warnings and the occasional favor that saves a job.

Build it the way you would with any professional. Learn their name and their business. Pay on time, every time, especially early, because your reputation with vendors travels. Ask them what they see. And when you have a problem, call them before it becomes their problem. The vendor who hears from you early will bend. The one who hears from you late will not.

Customers

The first customers of a new business are not just revenue. They are the people who will decide, in their own words, what your business is. The distinction here is between a transaction and a relationship. A transaction ends when the invoice is paid. A relationship continues: a follow-up call, a note, a genuine question about how the work is holding up.

Know what you want from every customer conversation before you have it, the way you know why you are going to the store before you walk in. Do you want a review? A referral? A second job? Say so, plainly, at the moment they are happiest. And take care of the ones you already have before chasing new ones. Selling to the same customer twice costs a fraction of finding a new one, and a customer who feels known will do your marketing for you.

Other business owners

Nobody understands your first year like someone who had one. Other owners in your town, in your industry, or in a trade that serves your same customer are the cheapest advisors you will ever find, and most are glad to talk. Those who have succeeded are usually happy to tell you how.

Go to the local chamber meeting, even the boring one. Walk into the business next door and introduce yourself. Ask the owner who has been at it for twenty years to coffee and ask what he would warn you about. Some of these become alliances, which we covered earlier in the course. Some become friendships. All of them widen what you know.

Like-minded people, and the ones you choose to work with

Then there is the fourth direction, and it is the one that shapes the other three. Who are the people you surround yourself with while you build this? Your peer group sets your standards whether you notice or not. If everyone around you talks about doing things and never does them, that becomes normal. If the people around you have built something, that becomes normal instead.

The same principle decides who you pick as partners, key vendors and early hires. They need to believe what you believe, and they need to understand what you are trying to accomplish. Not agree with everything, but share the core. When you pick someone who does not, you spend your energy explaining rather than building. Ask yourself of every close relationship in the business: are they pulling in the direction of the vision you wrote down, or somewhere else?

This week

Write the name of one vendor, one customer, one other owner and one like-minded person you want a real relationship with this quarter. Next to each name, write one specific thing you will do this week (a call, a visit, a thank-you, an invitation to coffee) and, in one line, what you want the relationship to become in a year.

Plan on an hour or two a week, every week, for as long as you own the business. It costs nothing but coffee, and you cannot outsource it. An agency can build your website. Only you can build your relationships, and they are worth more.