Your Network is Your Net Worth!

While denting and breaking off a partnership with a supplier/customer would probably take less than a few seconds, building a sound relation based on mutual benefits and understanding takes years.

In my recent observation from two companies, one in Telecommunication and the other in field of Electronics, I sadly learnt that despite of the fact that both companies have certain joint venture projects, their attitude towards maintaining relations with their suppliers and service providers are varied!

One believes relations are just defined by the market-place and economy is the nominator, while the other believes in maintaining a well-established relations, even if on a smaller scale and down sizing transactions.

Here is my point of view: if you could successfully build a mutual partnership that lasts more than 5 years, then it would be crazy not trying to hold on to your partnership, be it service or product, your customer or supplier.

If bad economy and market change are influencing your business, try at least to keep your relations on smaller scale till things recover.

Do not forget the fact of the 21st century: it is all about ‘Networking’, ‘Connection’, ‘Relation’, ‘Interaction’ and above all ‘Mutual Understanding’. The bigger your network with loyal and sound relationships, the better and more valuable cooperation.

Yes, in a competitive market, certainly it is easier to find replacement for your provider and supplier, who is probably even cheaper but the past history of the competitive market shows as well that those companies who stick with the values of the loyal partnership do better in the long run.

“A known devil is better than an unknown priest”!

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