You’ve probably heard the phrase, ‘it’s not what you know, its who you know’, plenty of times before. However, the reason that we hear it repeated so often is due to the simple fact that it is true. 

Whether you are stuck in a dead and job looking for a way out or wanting to advance within your current company,  contacts are key to your success. Therefore, you should always pay particular attention to the way you cultivate workplace relationships – be considerate, cooperative and enthusiastic. Help others when you have the opportunity to do so, as they will help you in return. 

However, you need to build relationships with other companies and businesses too – as this will allow your business to grow considerably. Here are just three reasons why!

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1: Increase your earning potential and your audience

You should not view other businesses in your local area as your competition – especially if you have things to offer each other. For example, a potential collaboration could help you both earn more money, and also bring in new customers to your store/business. One way in which you can do this is by hosting competitions together. For example, customers can enter a competition to win a hamper containing a mixture of products from local businesses. The more people that enter, the more people will find out about your products and may be convinced to make a purchase. If they don’t make a purchase right away, you have still gained exposure. 

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2: Gain access to new materials

If you’re just starting out in business, you may find it harder to gain access to the materials and products you need in order to thrive. For example, if you work within metrology, it can be difficult to source equipment – especially if you are trying to find the best price for the product you buy. However, by working with a company such as Metrology parts, you will gain easy access to the most affordable metrology equipment and will benefit greatly from their expert advice. 

3: Learn from each other

You can always learn from those around you – even other businesses, so don’t be afraid to reach out for professional help and support. Although you should not try to ‘copy’ the work that another business has completed, you can ask them for advice on how you can grow and develop – for example, can they recommend any courses you should take part in? What technology should you invest in? You should also remind them that you are happy to return the favour should they have any questions for you.

Another way in which you can learn from other companies is by collaborating on a project. Once you have begun to build a relationship and know that they can be trusted, you can also recommend their services to clients who may be looking for something they offer. For example, if you own a construction company, you can cultivate relationships with furniture manufactures and recommend each other to your clients.