How to build Long-term Partnerships in Business and why are they more Beneficial for Companies

How to build Long-term Partnerships in Business and why are they more Beneficial for Companies

The challenging journey in the world of entrepreneurship takes time, patience and dedication, and cannot be undertake without the aid of reliable people who are willing to build alongside you, so that your dream comes alive and turns into a successful business. Thus, one of the main factors underlying a successful business is, on one hand, the long-term partnership built between the company and suppliers, and on the other hand, the long-term partnership between the company and its customers, because of the higher stability it brings to the whole business, so necessary, especially in unfavourable economic conditions.

How do you build a long-term business partnership?

First of all, any long-term business relationship starts from a profound knowledge of the future business partner. If it is a new supplier, you must be familiar with the reputation that this supplier has built in the market, answering several questions: • is this a traditional company that has been acting professionally in the field for many years? • do they offer high quality products at optimal prices? • what is the company's after-sales service and warranty policy? • does the supplier offer the status of sole distributor on the market and what are the advantages offered under these conditions? At the same time, if it is a new customer, you need to understand the potential to retain this customer: • does the customer purchase your products and services only once or is it a repetitive customer? • does the client need financial support considering extended payment terms or purchase in instalments? • does the client have potential and will for growth and development? • does the customer have his own sales network or is he just starting out?

The first meeting with the future business partner has a decisive role in establishing the subsequent dynamics of the business relationship between the two companies. This meeting is used to assess whether or not it is possible to work with the other partner. In the optimal case, a symbiosis is created in which each person understands how it can support the other partner, therefore creating the foundations for a win-win business relationship, useful for all the parties involved. From a social point of view, the collaborators come to empathize with each other, and within the strictly professional collaboration relationship, friendships, ideas and even communities of people who share the same vision may arise.

What are the advantages of a long-term business partnership?

A long-term partnership is mutually beneficial for all the parties involved, as each company is essentially both a supplier and a customer, being an important link in an economic chain that allows capital to circulate and companies to develop. Thus, a long-term partnership with suppliers ensures continuity in stock delivery, timely delivery based on contracts, long-term negotiated prices, volume discounts, immediate access to newly developed products and innovative technologies. A long-term partnership relationship with customers ensures continuous capital flow, rapid inventory movement, low storage costs and a greater potential for growth that is directly correlated with the development capacity of the customer.

GritSablare understands the importance of building long-term business partnerships, and that is why we aimed even from our beginning in the blasting industry to create beneficial business relationships for all the parties involved. Our customers benefit the best price-quality ratio for the products and services acquired from us (blasting pots, blasting cabinets), fast delivery without delays (we have more than 3500 tons of blasting media in stock), excellent contractual payment terms (extended payment terms and payment in instalments with zero interest), volume discounts, discounts of up to 100% for consumables, accessories and personal protection equipment, and access to the latest technologies in the field. Currently, our company focuses on maintaining the partnerships already ongoing, but also on attracting new long-term business relationships, because, although the beginnings are among the most beautiful, the real challenge is always maintaining and preserving over time for what has been already developed. We are interested in developing long-term business relationships with both our customers and suppliers, that are successful for all the parties involved in these uncertain times, when it seems that only the cohesion to the common values can still help us.

We provide first-class quality products, build long term relationships and develop strong connections with our clients

GritSablare

Constanța Seaport, Gate 2, SORENA Platform, Constanța, Romania