Wednesday, October 25, 2017

The 7 Relationships Billionaires Commit to Every Day

It can be as simple as "No Relationships - No Business"!

Good business is nothing but a set of positive & productive relationships all bundled together. Create more, better and deeper relationships than the next guy and you just might have a business.

What kind of relationships are we talking about?

    1.    Vendors. I am not aware of a business that does not rely on a number of vendors that support the business. Everyone outsources something. Office space, legal, accounting, recruiting, widgets, mustard, scissors . . . the list goes on. Treat them well and they will treat you well; kind the golden rule of relationships.

    2.    Advisors. I can't state often enough that the long tail of entrepreneurship is survived by building an informal set of advisors that are willing to serve you (and not the business per se). There will be dark times. Who are you going to reach out to for advice or just to listen to you vent?

    3.    Friends. No, not the show (though if that brings you comfort go for it). You will need to blow off steam. You will need to exercise. You will need that camaraderie that has this subtle but powerful effect on your mind. Friends are there for all of that. It is why I play ice hockey late on Monday nights. And the beer.

    4.    Family. Who loves you unconditionally? Who supports your brilliant mind with that unfiltered encouragement? Keeping close to family including parents, siblings, spouse, and children provides you with balance. They support you and call bullshit when its needed. Yet, they are the first group we push down the list.

    5.    Investors. Your investor relationship if pretty important for the business, and you. Don't be that person who only tells them good news (big rookie mistake that will come back to haunt you). Your investors are more like family than vendors; you have to make that call on a regular basis to share what is going on.

    6.    Employees. You cajole, you raise your voice, you plan, you change plans, you celebrate, and you grieve with these people every day. They ride the roller coaster with you. They sacrifice and commit to your vision. Create, build and augment these relationships EVERY day.

    7.    Customers. I listed these guys last as they are the most important relationship you need to foster. Regardless of whether you are a $9.99 per month SaaS company or a food truck, you better wake up every morning with your customer on your mind. I am still amazed at the founders/executives who think their product is front and center to their business.

Image Credit: Getty Images

Westchester Networking for Professionals (WNFP) is a business organization focused on providing our members and guests with an extraordinary networking experience, bringing business professionals together for the sole purpose of generating new relationships and developing new business opportunities. Not a member, learn how you can become a member and join this awesome group of professionals to connect and grow your business.

Stay Connected with WNFP!
Join WNFP Communities!

No comments:

Post a Comment

It’s all about friendly conversations here on our Westchester Networking for Professionals (WNFP) Blog :-). We’d love to hear your thoughts!

Be sure to check back again, because we do make every effort to reply to your comments here.