So you thought your idea is really out-of-the-box and combined with your amazing technical expertise, you will soon create a mad-rush among consumers. But the sad reality is; now your business is close to a remarkable failure and your business credit report doesn’t show any signs of recovery.
On the other hand, your neighbour businessman with a fairly mediocre idea seems to be making it big in the industry. Wonder why? Well, your social relations might be the reason of your disappointment.
As the trend goes, top entrepreneurs are known to have five key relationships that contribute to their success.
Find out if you’re missing out any of these five essential relationships:
- Influencers – Influencers are the people who inspire your thinking, helping you shape up the goals and visions of your business. They give you the much-needed push out of your comfort zone, and challenge your age-old notions and current work methods. These are the people who are no “yes man” but the ones who offer their advice and help you strategize ahead. They act as your mentor and are always honest in their guidance and eventually add value to your business. They want you to make it big, as much as you do.
- Peer Network – You may or may not be in the same field but all peers need not necessarily be your competitors. Many of them keep you updated with the latest industry trends and rescue you out of technical challenges. As a group, you may even look forward to leverage your skills and resources to pursue bigger goals together.
- Executors – These people are your support system. They handle everything from the administration, logistic, and technical systems, to product development. They play the major role in execution of your plans. They are the thinkers of their field, helping you deliver your best product/work.
- Clients and Prospects – These people are the radar of the success of your business. They need to see you as their problem-solver. Staying in touch with them on a regular basis is mandatory, to keep them reminding about your existence, in case it has been quite a while since you guys have worked together. Educate them about your industry without seeming too pushy and nurture them by offering generous promotional items to stay connected. Let them know where they can touch base with you, when needed.
- Promoters – This group of people may sound scary to get in touch with, for many entrepreneurs, especially if media dealings have never been your style of communicating. But let’s admit it; this is the only big way of putting across your products/message to a wider audience. Maintaining good relations with journalists, editors, and media agencies can get the maximum exposure to your business at a very low cost.
When expansion is on your mind, you cannot pass on such influential relationships that can actually land you with your dream opportunities in no time. They cut-short the struggling days of your business and take you closer to the world of starry success.
But to achieve this, you need to make sure that these people see you as a trustworthy expert in your field. And it usually takes some time to get there, and requires nurturing healthy relations with these people over time that will hopefully lead you to your big pay day.
About the Author: Nicole C Harris is a finance expert and is the owner of a rapidly growing wealth management firm in Florida. She recommends that you access your credit reports on a monthly basis to keep a check on the credibility of your firm according to lenders, and have a deeper understanding of how each of your business tactics are working for you.