Rarely do companies in today’s market operate strictly on a cash-in-hand basis. Most, in some capacity or another, are structured around a system of business credit for daily operations. This means the company will sell a percentage of their future revenues in order to obtain advanced funding for overhead or expenses up front.
As businesses grow, it is important to have flexibility in spending. Business Credit & Capital is a leader in small to medium sized business funding and we specialize in creating that flexibility for your company. More so, however, BCC is a dedicated partner to you by insuring continued growth and success through our investments. By allowing you to meet your daily cash-flow needs we can better equip you to gain the trust of your customers.
Cash flow is the lifeblood of a company. Without it your goods and services cannot meet the demands of your clients. To that end, here are a few tips and tricks to remember when establishing trust with current and potential customers.
Value Relationships
Customers are the most important asset to any portfolio, but more than that – they are people. Lead by example through having healthy business practices of your own. Exceed your own obligations such as properly managing your business’ credit and capital, timely delivery of goods and services, and special attention to expenses or sub-contractor agreements. Relationships in all aspects of a business are important and circular in nature. Word of mouth is your most important ally and if you treat your obligations with respect, your customers will hear about it.
Focus On Delivery
Promises are important and because of that, you should never over-extend and promise anything your company cannot deliver. This is a sure fire way to lose customer trust. It is paramount to train your sales staff the importance of saying no at times. Focusing on the features and benefits that you CAN deliver as opposed to those you WISH you could deliver will be what the customer remembers at the end of the day. Missing deadlines and promising deliverables that are not realistic is a recipe for disaster when it comes to building customer trust.
Be Consistent and Clear
Persistent and consistent behavior over a period of time inevitably builds trust with a client. After consistently meeting expectations, people become conditioned to expect those results from your business. Above and beyond that, however, you always want to establish a clear dialog at the beginning so that both parties have a complete understanding of what is expected from each other.
Be Professional and Curious
Be serious about your product and your abilities. Confidence is a surefire way to initially gain trust when developing a client relationship. Showing a willingness to always develop and achieve a deeper understanding of your trade is always a plus in the eyes of potential customers. Go beyond that, however, and take a true interest in the people you are working for. People are drawn to others who show a genuine interest in them and it is a key element in relationship building. Taking the time to learn about your client will also open up new networking connections or business opportunities that might not have initially existed.