Long-term business partners or relationships can be very beneficial in starting companies. Beneficial by being able to have a business partner that can help during the financial crisis’s or trades, but it won’t work out without trust.
In the beginning, it’s hard for two small companies to grow without having any other relations or traders or any companies to rely upon. But once your company has grown and made a name for itself, it’s simple to grow business relations with other company’s.
When establishing a long-term business relation, it is fundamental to have trust between the companies. I would never strike a risky deal with a company that I don’t trust. I would believe that you think the same. When establishing your first business relationship with another company, it’s easy to trust other small company’s, since it’s a lot less likely that they’re trying scam you because both of the companies are small and don’t have a large cash flow.
Once the company has grown, it’s much harder to establish business relations that will benefit you and will not scam your money right out from under you when you have a large company. This is where trust falls in. Once you have created a relationship with other companies at the beginning of your company, you can now rely on other companies that you have been in business since the start of your company. If you didn’t trust the companies, you wouldn’t be able to grow your company.
In final. Trust is not only important, but it’s also fundamental to have a relationship with other companies. You can’t grow your company without having trusted business relations and striking the deals at the early stage of your company.
Jonah Davis Blogs 