Business Management – Doing business with those who do business with you

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This is another installment of my Business Management posts, geared towards those of us who are business owners and/or consultants.

The world of business is generally all about money. Money talks. But in all reality, money isn’t the only thing out there that matters. In my opinion, loyalty also goes a long way.

As you know, my business provides 3rd party IT support services to clients. Through the nature of my business, I obviously deal with a number of clients, as well as a number of vendors. My company also has relationships with vendors outside my space, for example, local dealers for stand-up printers / copiers. As my business grows, so do its dealings with other local businesses and vendors. This is where building strong relationships becomes important.

Just the other day, a local dealer that handles sales and servicing of stand-up printers referred a client to me, for network administration services (something they didn’t do). I coincidentally happen to be in the market for a new office printer for my office (this vendor did not know that when they made the referral), so guess what I did ? I made the purchase for a printer the very next day. Can you guess where from ? To put this into context, I paid about 15% more than I would have paid going either online, or with the competing product. But loyalty is worth something to me, and in this case, that happened to be 15% more than I could have paid.

Another example is a dental practice that purchased several new Windows workstations from my company several months now. I now use that same practice for all my regular dental needs, check-ups, cleanings, etc.

The point I’m trying to make is that you should never underestimate the power of loyalty. Do business with those who do business with you. You may get farther than you think.

Author

Martin Lehner

Martin Lehner is an technology professional working for an IT services firm in Whitehorse, Yukon (Canada). He has been working in the technology field for over a decade. With a degree in Business Admin and numerous industry certifications, Martin leads a team of IT professionals that provide third party support for clients. Originally starting a company to offer web development services, Martin quickly realized that clients wanted the entire spectrum of technology services. When Martin is not at work (which is not often, since his company offers 24/7 support), he is busy at home spending time with his family.

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