Navigating Business Relationships: Lessons from Experiences

In the past, business transactions were often built on trust and verbal agreements, with a handshake serving as a bond. Today, relying solely on such informal practices is akin to assuming that all your clients belong to an elite 1% class. Over the years, I've encountered numerous stories of clients crossing each other, significant financial losses, and more. Although I’ve always aimed to foster fair, win-win relationships, I’ve learned that even the most cautious can fall victim to misfortune.

This article isn't intended to call out individuals who may have strayed from my principles, though they know who they are. Instead, my goal is to share insights and help others avoid similar pitfalls. It’s important for everyone to be aware of what to expect in this business environment to prevent unnecessary setbacks.

In any business, mistakes, miscounts, damaged packaging, missing products, and minor glitches are inevitable. However, such issues should not exceed 5-10% of any large order unless the products are specifically defective. Transparency and reliability are crucial.

Remember, relationships are more valuable than gold. Even if you lose all your wealth, the honest relationships you've built over time can help you recover. While greed can lead to riches, it’s like a credit score—once tarnished, it’s hard to restore. Treat your relationships with care, and practice the principle of treating others as you would like to be treated. Fairness can still lead to success.

To avoid being burned or deceived, follow these key guidelines:

1. Know Your Contacts: A strong phone relationship doesn’t guarantee that someone is who they claim to be. Verify their credentials and background.

2. Get Everything in Writing: Relying solely on verbal agreements or handshakes is risky. Ensure you document agreements through email or signed contracts. Use messaging apps like WhatsApp for initial inquiries, but move to email for detailed discussions.

3. Conduct Research: Investigate the companies you’re dealing with. Newer companies might not have much information available, but established ones often do. Use this information to gauge their reliability.

4. Inspect Before Buying: If possible, inspect products before purchase. For brokers or beginners, this might be challenging, but requesting samples and detailed photos can help. If travel expenses are a concern, ensure you receive sufficient visual evidence.

5. Confirm Blind Shipping: If you want your end client to see only your company’s information and not your supplier’s, confirm in writing that the shipment will be handled as a blind shipment.

6. Stay Vigilant: Not everyone who engages in business with you has your best interests at heart. Be wary of superficial friendliness and remain focused. Trust your intuition, and remember that challenges are often temporary.

Thank you for taking the time to read this article. I encourage you to share any similar experiences or additional advice in the comments. Together, we can help each other navigate the complexities of business relationships.