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Nurturing Business Relationships: Interview with Tej Kohli

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Business relationship building is art, one you cannot really do without if you are interested in career building, building an effective team, managing your brand, and discovering new growth opportunities for your business.

Blogging is all about relation building too: In fact, it’s more about being social than about creating content, so mastering digital business relationship building is the key to blogging success.

Tej KohliI was lucky enough to catch up with one of the best-known global entrepreneurs Tej Kohli, Chairman of Kohli Ventures, and ask him a few questions about relationship building. I have also added my own tips on how to apply this advice to blogging and the digital world:

Why are good relationships important in business?

Without a good relationship between trading partners, the business will not prosper.

Just like a strong  marriage , integrity and expectations of the other party in business are key to a successful and long lasting relationship.

How to develop business relationships? What are the basic principles?

In business, it is important to build up a relationship over time and not  jumping straight into the deep end.

Basic principles are to agree on each others expectations and a code of conduct and communication between the parties. Be clear on the financial terms between the parties from the very start, to avoid confusion later.

This is very important in the digital world too: Relationship building should not be measured in numbers and months. It’s a long-term process where, obviously, the rich gets richer. It’s hard to start but it’s well worth it!

How and why to develop global business relationships?

Any start up businesses always has the potential to grow globally whatever the product. If it is run with financial discipline, entrepreneurial flair and vision and a strong work ethic is how to make it globally.

Global growth can give the business a stronger back bone in terms of negotiation power.

Should the team be involved in developing off-company business relationships. If so, how?

For sure, as these relationships lead to creating new business contacts.

The best way of building a strong business is through referrals coming from satisfied customers and partnerships.

There’s has been a lot of debate about intra-company social media policies and I am always saying: If you want your employees or team members to be your company ambassadors, allow them to be on social media!

How can Internet technologies improve business relationships?

With dematrialisation, demorcitaisation and digitilisation we are now able to reach the masses with a click of a button.

Social media, business reputation profiling and marketing with a targeted approach to selected audiences, can all be done through the Internet – it saves time, money and manpower.

We live in the exciting times: We can build global business and international partnerships and events from home. Not leveraging those opportunities means missing out! I want to thank Mr Kohli for setting such a great role model for us all. I hope you are inspired!

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Invest Energy in Your Business Relationships

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Rosemary O’Neill

Relationships take work

Strong relationships, both personal and business, take a consistent investment of energy over a long period of time. Anyone who is selling you “likes,” or Twitter followers, or other nonsense like that is not helping you build your business.

The Tickler File

I love to entertain. Part of the fun is making sure that each person who visits always gets their favorite things. My dad loves blueberries, but not ever baked into anything. My sister-in-law has a particular affection for those little white Russian tea cookies. But I could never hold all of that information in my brain, so I cheat a little. In my Evernote system, I have a “dossier” on each person who visits. It’s my relationship tickler file.

Invest Energy in Your Business Relationships

The most successful business owners and entrepreneurs have a strong network of relationships that they can call on when the chips are down. Liz refers to these as “the people who won’t let you fail.”

But these people don’t just appear out of nowhere. You must slowly build those ties over time, maintaining contact, learning about each other, having face-to-face conversations, and providing support to each others’ causes.

The quick hit of buying followers or making fake reviews will never cut the mustard in the long run. The random stranger who was paid to like your Facebook page won’t be there for you when you launch your new product.

Tips to Build Your Own Tickler File

  • Add notes to your contact system or CRM (e.g., “dog named Babs”)
  • Set up reminders either in Google calendar or in your CRM
  • Start noticing when people share preferences or details about their lives
  • Foster your sense of curiosity about other people, focus on them when they’re speaking, not on what you’re going to say next
  • Don’t just rely on the automated happy birthday status update; get creative and recognize people on days other

    • than their birthday

  • After you meet with someone, write down notes from the meeting for next time, so you can progress each time

How do you invest in your business relationships?

Author’s Bio: Rosemary O’Neill is an insightful spirit who works for social strata — a top ten company to work for on the Internet . Check out the Social Strata blog. You can find Rosemary on Google+ and on Twitter as @rhogroupee

Thank you, Rosemary!

You’re irresistible!

ME “Liz” Strauss

The Riskiest Question We Ask When Introducing Our Business and a Much Better Approach

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People Ask It All of the Time

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We meet on Twitter or on my blog. Perhaps you came up to talk after I spoke at a conference or a mutual friend said that we should meet and talk. We have a lot in common and a lot of expertise that supports each other. We both think the other is smart. So we decide to sit down to talk more.

Things are going great. So we begin to introduce ourselves and our businesses to each other.

I ask about what you’re doing. You tell me more. We’re getting somewhere that looks like we could find a way to build something together that might move our businesses forward. Then one of us asks what appears to be a simple question that people ask often and the other one starts to buy out.

The question — one that people ask all of the time — might surprise you because on the surface it sounds smart, other-centered, and on target. But, it’s not because of how it shifts the burden of thinking and how it changes my perception of who the person who asks it.

The question?

How can I help you?

What’s wrong with that?

When we ask How can I help you? here’s what happens. We throw the burden of thinking (and the evaluation of our fit) to the other person. The person we’re talking to has to stop to consider within their entire realm of possible jobs, tasks, and future dreams,…

  • where he or she might be able to use some help.
  • who we are, what our skills are, how they might fit the culture and brand of what he or she has planned.
  • whether he or she might be able to manage putting those two together in the context of what’s already going on.

That’s a huge amount of thinking, considering, and evaluating to answer even to someone we know really well. The risk is huge that the answer will be wrong — that the person answering will misjudge our skills (too high, too low) or not think of the perfect fit for what we have to offer. Inside that situation is also the risk that the person will be uncomfortable at being unable to give a quick answer and the chance that he or she will wonder why we already don’t know.

Why take those risks at all?

A Much Better Approach

For almost a year now, I’ve reserved the How can I help? solely for situations in which people are outlining specific problems that fall into my area of expertise. And even then I try to avoid it, reaching instead for Would it help your situation if I offered a way to … ? I find that opens the discussion to more concrete exploration of where my skills fit the person’s business goals.

And when it’s a conversation that’s with a new business acquaintance rather than leading with How can I help? which is really about me. I turn the conversation to them by asking

What are your goals for the next two quarters? What are you hoping to achieve to move your business forward?

Then I listen and as I listen I ask more questions about vision of those positive outcomes.

So, would that look like a new product? a growth in awareness? a larger community? a more functional website?

And I listen more until I can clearly see their goal, their vision. Then I can also see how I might use my skills to help them achieve it, how we might align our goals to build something together that benefits us both.

A leader is someone who wants to build something he or she can’t build alone.

Do you see how a new approach to introducing your business can help your business and their business grow?

–ME “Liz” Strauss
Work with Liz on your business!!

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Saying No With Authenticity … When No Becomes Yes Unexpectedly

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Don’t Agree to What You Can’t Do

On Monday while waiting at DFW, I got a back channel message from @LisaDJenkins saying that a friend and potential client had asked for social media help in an area that “wasn’t her thing.” The message said, “Could I recommend you?” I checked it over, saw a nice fit, and said yes.

A relationship started … I haven’t met the client yet, but I’ve gotten to know Lisa pretty well. I wanted to know more about her and what she was doing. Her follow up email and the recommendation she sent her friend were well-written and compelling. A good turn on her part become more than that. Lisa tells the story better than I do.

On the other hand, once I had a conversation with a potential client that became a negotiation via email. We discussed a project in detail. It was a blast talking to him about the project. The conversation was more than worth looking forward to, but as he told me about his expectations, the more I felt I was unable to gather the resources I’d need to do the work to my satisfaction.

It was a sad moment for me. The project had sounded exciting. I’d enjoyed beginning a relationship that was authentic, filled with fun, and an example of with great communication.

I didn’t stay sad very long.

He must have felt the same values. When I declined, that potential client shifted the topic to other projects on which we might work together.

There is a lesson here. It’s one I like believing in.

Ever had a no become a yes like these?

–ME “Liz” Strauss
Work with Liz!!