Why taking a human approach is vital to business success
PUBLISHED: 15:25 06 June 2017 | UPDATED: 15:26 06 June 2017
Human-to-human (H2H) business is at the heart of what we do at Folk2Folk
There’s no getting away from it, businesses in rural communities prefer to do business at a personal level. It’s this basic human approach that helps foster long-term, profitable relationships whilst at the same time creating short-term wins for small businesses and their owners.
Over the past decade we’ve seen a shift away from the physical and human side of business as technology has fundamentally changed the way we communicate, bank, buy and sell, generating brand awareness and driving new business revenues. The efficiencies that today’s technologies afford us to grow and succeed are incredible; but technology, on its own, is not the answer. It’s the people at the helm of businesses, be that owners or employees and their engagement within local business communities that encourages business to grow. It’s vitally important therefore, not forget the value of the “human element”.
Before technology became so integrated into our daily lives, business was a face-to-face activity, with decisions and deals secured with a handshake or verbal confirmation, occasionally over lunch or drinks. Digital communications and computer algorithms have changed the way business decisions are made in many cases, sometimes to the detriment to the traditional business relationship; relationships which were and remain hugely valuable. This can lead to confusion, uncertainty, delays and in many cases the wrong decision being taken, ultimately resulting in a negative impact on a small business, especially when the “computer says no”.
In the world of small business finance, it’s important we don’t lose human-to-human interaction as a personal approach can lead to the one word a business wants to hear; “YES”. It’s our favourite word at Folk2Folk, a technology business which recognises the value of human interaction and we aim to say “yes” to as many businesses we can. We recognise that businesses are, inevitably, run by people, each with their own set of complex needs, circumstances and aspirations. Therefore, it’s unfair to treat them as one collective or in segments such as B2B or B2C.
Human-to-human (H2H) business is at the heart of what we do at Folk2Folk. We’re a peer-to-peer lending platform which matches individual business owners looking for secured finance with individual investors, creating real relationships which are tangible, meaningful and mutually beneficial, using technology to do things better, faster and happier. Technology supporting, instead of supplanting, human relationships. We believe it’s the future.
It’s vital we get to know each of our customers to allow us to make informed credit decisions to offer to our investors. This is done in person, at our branches, their offices, over the phone, over coffee, lunch; not just online. Our customers enjoy that interaction, working with experienced, empathetic people making grown up, rea-life lending decisions, instead of computers. Our customers love this. There’s a level of comfort in dealing with real people to find a solution to a business problem – whether it be a business partnership breakdown, refinancing an existing debt, funding a new business venture, helping to diversify, access to working capital, short-term bridging finance, working around age restrictions or simply being refused by another lender.
It’s within local communities, where people work with people, that businesses which adopt and take a human-to-human approach will be the ones that move forward, build trust and grow. Dynamically.
And to us, tech just makes that easier.
To learn more about how Folk2Folk could help grow your business please call 0330 053 5532 or visit the website to book an appointment with a local business development manager.
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