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Business Relationships are more important than ever.

Navigating Business Relationships in Uncertain Times

Posted on April 17, 2020 by Satellite Industries

Personal and professional relationships are incredibly valuable in the portable sanitation industry. From trade shows to client meetings and service calls, everyone knows one another. Trust and mutual respect are words that come to mind when thinking of our customer’s relationships with their clients. But, how do you navigate contracts and business relationships in the wake of a global pandemic?

Even though essential businesses, like all of those in the sanitation industry, are remaining open, there are new challenges to face. There are ways to survive and even thrive during this difficult time.

Business Relationships Mean Trust

As you know, trust is the cornerstone of the long term relationships that have come to exemplify the sanitation industry. No matter the size of your company, without trust, you won’t make it through trying times. Building credibility can take time, but it’s always worth it.

You may not realize it, but during this COVID-19 crisis, you may be able to build more trust and credibility for your company than ever before. Here are a few tips.

Consistency

With many things in business, consistency is key. Everything in your brand from the quality of service to your website and overall tone should be consistent. 

Credibility and trust can only happen if you’re keeping things consistent from the inside out. This rings true even during a time of crisis. It may be more difficult but coming through for a customer when they’re in the middle of hardship will mean even more.

Offer the Best of The Best

No business can build up their credibility with weak products or services and negative customer reviews. This is especially true in the sanitation industry. People remember the service you provide – good or bad – and your competition is waiting to capitalize on the latter.

When it comes to your product or service, make sure it’s top of the line. If there’s a customer complaint or issue with your offering, address it promtly. That way, you can make sure you’re rolling out the best possible product or service.

Business Management in a Crisis

For entrepreneurs, cash is everything right now, and there are seven places where you can look for cash in your business: price, volume, cost of goods sold (COGS), overheads, accounts receivable, inventory, and accounts payable. It is crucial that you work out an established path to optimizing cash.

Revenue is about generating leads and retaining clients. This is where trust, business relationships, and credibility come into play. Making sure you know the ins-and-outs of your customer base is vital to succeeding. Being able to maintain good business relationships during a crisis while bringing the income you need can keep your business alive.

Empathy for your customers will go a long way. Help them with a service or product that they need, regardless of whether you will make money or not. Your support during these difficult times will go a long way in retaining them for life. Engaging clients through knowledge sharing, thoughtful ideas, and proactive support will build a strong, long-lasting relationship.

Getting a grip on your business first is the top priority. If you don’t have cash, how can you get to a place of stability first? If you already have stability, then this is an amazing opportunity to transform what you do and thrive in what will certainly be a changed world after this crisis.

Posted in Business Development, Industry Trends

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