Statistics have shown that even if you have some of the best products or services in your field that you still need to be knowledgeable in building effective business relationships to succeed.

If you haven’t nurtured at least a few partnerships with other companies, then you won’t learn what is going on in the field or be able to find new customers, new ideas or other strategies that will help you in your line of work.

Here are some tips and hints on building effective business relationships:

First, you have to have respect for the people you work with and those that work for you. If you don’t respect your crew or others around you, then you aren’t going to be able to do well building effective business relationships or any other type of relationship.

Learning how to compromise can be a great step towards building effective business relationships. There are times when this is necessary so you both can learn from each other and to avoid power struggles or misunderstandings. Compromise leads to negotiation and that leads to being good at building effective business relationships. Once you have done this, you will open up more opportunities to learn and trade new ideas, strategies and products.

Communication is also a necessary tool when it comes to building effective business relationships. Not everyone communicates the same way and you have to learn how to understand where someone is coming from and how they converse so you can form a useful relationship.

There are both verbal and non-verbal kinds of communication. Body language can tell you quite a bit about someone. For instance, if they are telling you yes, but they seem to be tense and stiff, it may mean they are not really happy with the idea.

How people learn is also different in different people, therefore you must determine a potential way of understanding each other in order to be successful in building effective business relationships.

Values are also something that is different for different people. Value differences can be a hard thing to overcome, but you can at least respect each other and possibly still be successful in building effective business relationships with them.

Everyone has different types of boundaries or personal space. It all depends on where you are from. In the U.S. we tend to need several feet of space between us and someone we are talking to, but in other cultures, that amount of space is much smaller, so it can cause issues if you don’t know that in advance.

Another important thing is to have self-respect for yourself because if you don’t then no other business or company will have respect for you either. And without respect, there will be no way to do well in building effective business relationships.