Why are Relationships so Important in Business?
Updated: Mar 14, 2022
As time passes and you gain more experience in business, you will realize how important it is to build relationships with people in order to stay in business and keep growing your business.
You can learn a lot about building businesses and generating wealth but perhaps very few people will tell you how it becomes easier when you establish meaningful relationships with people that support you throughout your journey.
Imagine your situation when you are contacting sellers all day and you find the ones who really need your assistance, have an issue, and need you to assist with taking care of that issue.
This is not a monetary transaction every time. It won’t be helpful financially at the moment as you won’t see any monetary transaction to your bank account but these are by far the best deals. This is what you will recall as you completely changed someone's life and that has a greater impact than any monetary benefit.
Real estate business is all about making connections. Whether you are buying property online, via an auction or without your involvement but at some point you will interact with a human to turn that property into a rental or sell it for profit.
During your deals, you will learn the art of communication. You will become an exceptionally good communicator. On top of that you will learn empathy which again will help you make good relations.
There are some key points we can consider during our dealings to make better relationships with whoever we come across. It can be a contractor, a real estate agent, property manager, buyer or seller.
Below are the key points
Find What they Need
Whoever you meet during your day, think of their needs. What exactly are they looking for and how you can provide it for them?
This is where you can start. You can help them out just by finding out what they need and help them out. If you are having a hard time finding out, just listen and you will figure what they are looking for. And think of a solution or how you can provide it for them.
Buying a house for the price of your choice is easy. You can check out a property, think of a price that works best for you and acquire the property at your desired price which will of course benefit you.
However, if you think the other way around you can have long term benefits. Think of how you can provide value to that seller? How you can build a relationship with that seller and truly solve his problem by getting what he/she wants. And if you do provide true value to the seller, you can not just get a good deal but can also establish a relationship. And as a result the seller will give you an honest testimonial, recommend you to other sellers (which means more good deals in near future) and will bring deals to you which is far better and far more valuable in the long run for you than buying a one time house.
The good thing about providing value is, it comes back to you in ways you might not have imagined.
The people you deal with or you have helped already, you can provide even more value by staying in touch and seeing if you can provide more value to them. This will result in more connections, more good deals, more opportunities and more people for you to help you out in the future.
We mentioned these points because it is your network that is your true net worth. If you want to create more wealth and keep it, you will need to provide value to more people. The assets you have is a direct return of the value you provide to other people.
So change your lens today. Start finding ways to serve people and provide them value no one has ever provided before. And it will reward you in ways no one has ever been rewarded before. Remember, it is worth doing.