What is relationship building?

- Are you ready to learn why building authentic one-to-one relationships is one of the most impactful business strategies you can employ for your business? And is far easier to do than you think? Then let's get started. As we discussed in the movie on positioning, most creative firms get new business from word of mouth referrals. And these firms are proud of that fact. Rightfully so. As that means their clients love them. And for that I say, congratulations, great job. Now, here's the bad news. Relying on referrals alone for new business is a limiting and unsustainable strategy that does not support the long-term health and growth of your firm. Essentially, referrals allow our current clients and contacts to drive the direction of our firm and services. Referrals will take a business only so far by limiting its ability to expand its client base, expertise and services. Eventually, we lose control of our own business because these incoming business opportunities, may not align with our business goals and vision. This is where relationship building comes to the rescue. So, what do I mean by relationship building? It's my way of reframing how we think, what we call and how we approach develop and nurture new opportunities. When you think about it, new business opportunities grow and develop over time. They don't happen overnight. In fact, it takes up to two years, two years from an initial connection to result in some sort of new business opportunity. Think about that for a second. Two years. Just like friendships, new prospects take time, focus, ongoing nurturing, and attention to develop. So rather than focus on the quick wins inherent and new business development strategies, we should rethink how we approach new business. Instead, it should be about building authentic, Long-term, trusting, and one-to-one relationships with just about anyone we want to work with. It's not about new business. Rather, it's about meeting and developing relationships with anyone that we want to meet for any reason. It can be about building new strategic partnerships, expanding your referral network, engaging with like-minded people or companies with similar passions, stories, and experiences. It can even be about meeting industry leaders that inspire and motivate you. In fact, when I speak to a live audience, I always ask this question. How many of you have friends? While this... Almost always gets a laugh. My point is that if we approach new business like we approach building and developing friendships, then it is easier to talk and become mutually beneficial and dare I even say a fun and rewarding experience. How often can we say that about new business development? So get out of your own way, change your mindset and reframe how you think about new business. You'll be wonderfully surprised, that with a little patience and a renewed focus on building and nurturing relationships, instead of focusing on sales, you'll see long-term results.