Networking Insight

Seven Ways Entrepreneurs Can Leverage Relationships for Success

In order to start, build, and grow a business, entrepreneurs need to leverage person and business relationships. Sometimes it is a matter of survival for a company. Finding the right and effective relationships is the key.

Below are seven ways that entrepreneurs can leverage relationships to ensure more success:

1. Mentors - Finding mentors is a key relationship that most people, including entrepreneurs, need to have by their side. Learning from someone else who has the depth and breadth of experience is critical. Most entrepreneurs will tell you that their mentors were critical to their success.

2. Advisors - In addition to mentors, it is important that entrepreneurs find advisors to guide them in their business. Advisors should be diverse and provide expertise in areas that the entrepreneur is lacking skillset.

3. Investors - Finding capital from investors is very relationship driven. So entrepreneurs need to leverage relationships to find the right investors. Trust and credibility is important for referrals to investors.

4. Employees - Some of the best employees come from referrals. So, the same should apply for entrepreneurs looking to staff up their businesses. Early on, it can be expensive to hire a search firm so finding employees through established personal and business networks is important.

5. Partners - Similar to finding employees, finding partners is also very relationship driven. Once entrepreneurs know the types of partners that they are seeking, they should leverage their network to get introductions. Partners can be an integral component of growing and scaling a business.

6. Sales - Early on in the startup life cycle, entrepreneurs need to generate sales to provide that the market demands their firm's product or service. Many of these first customers come from existing relationships, which can turn into referrals. So, having a strong and diverse network is important.

7. Personal Branding- In order to generate sales and to start to build a brand, entrepreneurs need to build up their personal brand. The more credible the entrepreneur is, the easier it can be to generate revenue earl on. Entrepreneurs should spend time with other professionals to build trust so referrals and opportunities will come their way.

What other ways can you think of?

Related post: Top Reasons to Attend 2015 Greater Chicago Networking Extravaganza

 

Top Reasons to Attend 2015 Greater Chicago Networking Extravaganza

 

• 13th event in the series – Long-running-event series with a successful track record that has brought hundreds of people together to connect and learn for the past 10 years. This version of the GCNE will focus on how to leverage relationships to start, build and grow a company.  And along with the way you'll learn how to increase brand awareness, sales and career success through the art and science of networking.

• Seasoned hosts – Event is co-produced and co-hosted by Lillian Bjorseth and Jason Jacobsohn who are synonymous with relationship building and connecting entrepreneurs and other professionals in the Chicago area. Lillian is a nationally renowned face-to-face networking authority and author of Breakthrough Networking: Building Relationships That Last.  Jason is well known in the Chicago area as a “connector” for entrepreneurs, veteran panel facilitator and director of the Founder Institute.

• Successful entrepreneur panel - A panel of successful entrepreneurs will share the vital role that relationships played and continue to in the growth of their businesses and individual well-being. Already confirmed is Gary Rabine, founder and CEO of the Rabine Group, a group of facilities maintenance companies that are leaders in the paving, roofing, snow removal and fuel distribution industries. Also sharing her information is Genevieve Thiers, whose company, Sittercity.com, is America’s first online caregiving service, which has millions of users nationwide and serves hundreds of corporate clients. In addition, we are featuring Thaddeus Wong, co-founder of @properties, the largest independently owned residential real estate brokerage firm in Illinois and one of the 25 largest brokerage firms in the U.S. by sales volume.

• Grow your network – During the event, you will have the chance to network with entrepreneurs and seasoned professionals during our structured and open networking time. Mingle with sponsors that have products and services to assist you and help your business grow. You are guaranteed to meet 10 or more new people with whom who can start to build relationships. 

• Enhance your relationship building skills – During the event, you will acquire valuable face-to-face and online networking tips and techniques. You will learn how the right relationships can add immeasurably to your success.  In addition, you will gain skills and confidence that you can transfer to other networking opportunities.

For more details about the 5/14 event, go to www.greaterchicagonetworking.com

 

Brand Yourself in Business Circles

Personal branding is a must when developing relationships. You should find a way to stand out so you can become more memorable.

Spend time leveraging your expertise to brand yourself. The more that people know about your particular expertise the more they will associate you with that skill.

Find ways to demonstrate your expertise on a regular basis. Some strategies include: writing articles / blog posts, speaking at events, hosting events, publishing a book, or social media.

Your personal brand should stand alone from your job or company. That way, people will associate a brand to you, which will be very valuable regardless of where you work.

Over time, as you interact with other business professionals, they will start to see you as a brand. As a result, more opportunities could come your way including referrals, clients, partners, etc.

The more that you nurture your personal brand the more that you will be able to become a valuable asset in anyone's network. Once this happens, you will have established yourself as a go to person.

Take personal branding serious because others do as well. Make a name for yourself in business circles. One of your biggest assets is your personal network, which is why you need to brand yourself with the people in your life.