Business 9, Lesson 75 – Why is Trust in Establishing Long-Term Business Relationships Important?

Trust is an essential part of any relationship, business or not.  In this essay I am going to talk about why trust is important using the example of a small business as it rises up from the ground.

For the sake of this essay, pretend you have a small business.  During the early days of your business you meet a kind customer.  They are very excited about supporting your business and orders multiple products from you.  They find your products satisfactory and become a regular customer.  Over time they order more and more products, and you in turn slip in free gifts to thank them for their loyalty.  Because of your kindness, the customer starts to trust you and refers you to friends and family.  Your customer trusts you and feels like they can tell their friends about your products without the fear of them receiving damaged or defective goods. 

This same thing can be the same for a business partner or an investor.  Imagine you are contacted by an investor who sees potential in your business and is interested in funding you.  You and this investor become close friends and he (or she) helps your business skyrocket.  Five years later, you run a very successful business and you are making thousands of dollars every year.  Your investor friend may not be a big part of your life anymore, but five years ago you and the investor started a relationship which led to mutual trust.  The investor refers your business to other people and you do whatever you can to help them out.

As you can see, trust is a very important thing in business ordeals.  Trust is the basis of every relationship whether it is a business endeavour or a romantic relationship.

Author: sophiaelahirpc

Part-time 9th Grade student in the Ron Paul Curriculum. Full-time teen writer living in Singapore.

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