Set of Faults You Can Live With

Maintaining good relationships is important in making and keeping a business viable.

Relationships with whom? The answer is almost everyone, including customers, vendors, employees, landlords, banks, etc.

Relationships, whether personal—including marriage—or business-related, boil down to just a set of faults you can live with. Don’t set your expectations too high, and remember: perfect is the enemy of good.

In a small business with fewer than fifty employees, it is crucial to get to know your employees and let them know you will listen, and that their ideas and suggestions are welcome. Learn things about them, such as their relationships, hobbies, and beliefs, and use what you learn when communicating. Doing so will show you care, and they will feel more comfortable talking with you. While getting to know employees is important, I advise against bringing them into your group of friends while they are still employees. Early on, I made that mistake, which made tough decisions—such as reprimands and terminations—more difficult and uncomfortable.

Getting to know your vendors is equally important. Learn about those you interact with, such as your point of contact and your accounting representative. Doing so will help when you reach out for better discounts, extended terms, or payment issue resolutions.

Good business relationships are an essential part of keeping a business viable and profitable for many, many years. Remember: perfect is the enemy of good.

Keep reading our blog, or if you want to Wright Your Business immediately, book a 15-minute Google-Meet meeting to explore the possibilities.