Building Social Capital

The Hows and Whys of Relationship Capital

At The Endurance Group, we greatly value the relationships between us and our clients. We also value the relationships between our clients and their clients. The success of all businesses depends on a healthy relationships between partners. 

The Endurance Group is not the only company that  thinks like this. Forbes recently published an article titled, The Hows and Whys of Relationship Capital. In the piece, author, Jennifer Wines, discusses the importance of  strong relationships.  She goes on to highlight three important aspects to building good relationships:

  1. Time
  2. Thoughtfulness
  3. Reliability

The first important aspect that Forbes mentions when building relationship capital is time. Though this may be tedious and lackluster, it is an incredibly important aspect of building relationships with clients. Time is an essential aspect of building trust, because it takes time to discover your clients’ wants and needs. Taking the time to learn your client is essential for building a relationship with them.

Forbes next talks about the importance of what they call “thoughtful, exploratory conversations.” They advocate engaging in real, honest conversations with your clients to fully understand  their specific needs. Wines specifically emphasizes the importance of remaining aware and present during conversations. Learning  all that you can about a client through “thoughtful, exploratory conversation” allows you to adequate fulfill their needs.

The final aspect that Forbes mentions is reliability. Now that you’ve taken the time to learn about your client and engaged in thoughtful, exploratory conversations, meeting their goals is the next logical step. Fulfilling a client’s specific needs, thoroughly and consistently, is an integral part of building a relationship with them. Failing to meet their goals means a failure of their trust in you, and begins the erosion of your relationship with them. The most effective way to grow and maintain your relationship with your clients is to meet their needs.

The Endurance Group is dedicated to building relationships with clients, and is able to help you get started, as well. Our mission is to unlock opportunities by revealing and leveraging authentic relationships between your company, your clients, partners, and prospects. 

Find out more about Commonality by contacting us today!