Why is the business owner with a seemingly simple idea making it big? With your really innovative idea and great technical expertise why are you not doing as well as you should? Why are you struggling to grow your business when just down the road your neighbour seems to be doing really well with some seemingly mediocre idea? In business, you need some key relationships. All top performing entrepreneurs have these relationships.Below are my list of 5 core relationships that all top performing entrepreneurs invest in.
1- Influencers – The business world will forever thrust you into new and mostly challenging situations. At these times you need some key people to help you make the right decisions.Influencers nourish the soul of your business. They support and shape the business owners vision and dreams. They push you out of your comfort area, challenge your current paradigm and assumptions. This is not a group of “Yes men”. On the contrary, these are the one group of people that you can count on to be honest to you. They rein you in or push you when needed. Established businesses may have boards advising and strategizing with them. Lone wolf, solo-entrepreneurs need to create their own team of influencers. Influencers are a highly competent group of individuals, experts, advisors and mentors that will add value to your business. This group is committed to your success. They want you to make it as badly as you want to make it.
2 – Peer Network – Your peers are like a knowledge database. They keep you up to date with the latest trends and industry specific developments. They come to your rescue when you face technical challenges. They will share work with you when necessary. Not all your peers are competitors. Together, you can really leverage your talents and pursue bigger opportunities as a group. They may not be in the same industry but their businesses may be at the same stage as yours.
3 – Executors – These people help you deliver your best work/product. They handle the admin, product development, logistic and other technical systems that are needed for expansion and growth. These are people who support you business. This is the team that helps you in the delivery of your plans. These people are expects in their fields and your “thinkers” and “executors”
4 – Clients and prospects – These are people they have bought from you or people who you are hoping will buy from you. These people need to be educated and nurtured by you overtime. You need to position yourself as their problem solver and make it easy for them to get in touch when they need you to solve their problems.
5 – Promoters – This is the part that would cause some people to hyperventilate. This may sound scary if you haven’t had any dealings with the media but it is your way of getting your message/products other there in a big way.These are relationships with media agencies, editors; journalists, associations etc. that will enable you promote your business at low to next cost. They relationships are vital when you want to expand. They can give you opportunities that you couldn’t afford to pay for. These relationships can be priceless. You need to position yourself so that they know to contact you when they need an “expert”. This won’t happen overnight but keeping a constant and healthy relationships with these key people always leads to a big pay day.
The good news is this – maintaining these relationships won’t take up too much time with the right tools. Some groups just need the occasional mail from you about relevant interesting things you think may interest them. Others may need more regular communication to keep your name in their consciousness. These relationships are vital for ensuring growth in business but they just don’t happen, savvy business owners invest in developing these relationships. It really is an investment.
Leave a comment and let me know how you’ve managed these relationships in your business. .