6 Tips for Developing and Maintaining Reciprocal Relationships

6 Tips for Developing and Maintaining Reciprocal Relationships

Reciprocal : Used to describe a relationship in which two people or groups agree to do something similar for one another. Given or felt by each toward one another; mutual.

Reciprocal relationships in business are very important and go a long way in determining the success for businesses. Having these relationships can take some time to form, but in the long run will pay many returns.

How can we build and maintain these relationships in such a busy day? Let’s take a look.

Be genuine: The idea of reciprocity is that if you give someone something, you get something in return. Simple. However, if you are offering something for the sole purpose of getting something back, that is where things can derail. Demonstrate that you are genuine in what you offer and want the best for the other party.

Build trust: This is a big one. Without trust there is not going to be much of a relationship. This is true in all parts of life. The first idea of being genuine will help with this. People need to know that you have their best interest in mind and want them to be successful.

A good fit: Look for people/businesses that will complement your business and customers. For those of us in the building industry, there are many ways this can be demonstrated.

Benefit: You need to demonstrate how this relationship will be a benefit to the other party. Will it make them profitable, more efficient, and more productive? In this competitive market, any advantage that can be attained through a reciprocal relationship may in some cases be the key to success or failure.

Start small: As previously mentioned, these relationships can take time to develop. Start with small tasks/projects to demonstrate how the relationship can be beneficial without jumping into a large project with a greater potential for things to go wrong and, thereby, getting things off to a rocky start.

Keep in touch: Staying connected with people is the key component. Don’t get in touch with people only when you need something. Try to maintain regular contact to keep the lines of communication open and make sure the other party feels that you are interested in what and how they are doing. Connecting on a more personal level helps to strengthen the relationship and provide a foundation to build on for the long-term.