Do You Have Money In the Relationship Bank?
harkins / March 15, 2017
It’s obvious that doing business in property management requires funding that includes money in the bank. Have you also thought about other requirements outside of tangible ones? Taking time to network and build relationships leads to many other opportunities. That makes having money in the relationship bank just as important.
The world of entrepreneurs is expanding, and avenues for networking and building relationships are endless. Use these strategies as natural ways to start building relationships that will solidify your business.
Attend networking events and mixers
One of the oldest ways to start building relationships is to join organizations tailored to businesses and attend their events. Cities thrive and grow when their communities are doing well. That’s why they invest a lot in helping entrepreneurs find success. Each city has a chamber established to help business owners. Other independent organizations are also popping up that are specifically designed for entrepreneurs to connect.
When the chambers and organizations host workshops, mixers, expos, and other networking events you should be a part of them. Though networking events seem a little outdated, it’s still a way to meet like-minded people in a business setting. The best way to build relationships at networking events is to be casual and not too pushy. Don’t act as if you’re on the hunt for business. Just use the available resources to start connecting and building relationships that could transition into other opportunities.
Connect with other businesses on social media
While you still must build more personal relationships, social media is an avenue to make those connections. It widens your reach to be able to connect with more people who may turn into partners, investors, referral resources, or clients. It also gives you more validation as a business owner to show that you have influence and people trust you.
Take time to share a little about what is going on with the business. Give some useful tips that prospects would appreciate. Interact and engage with posts that you find interesting from others. Follow people back who follow you. Build rapport and make yourself known as a reliable source in your industry. Be sociable on social media to fund your relationship bank.
Join social media groups
To take it a step further with networking on social media, you should join groups. Groups are more personal, less crowded, and give more visibility. Members are also able to narrow down the crowd by selecting groups more related to their niche and interests. With social media groups, you can get in the same circle with entrepreneurs and investors in the property management industry. Having something to relate to with others will make it a little easier to break the ice.
Get to know people by helping others
Volunteer activities are a great way to meet new people and help others at the same time. When people volunteer, they get to work on a project together, have a feeling of accomplishment and warmth from helping someone in need. With everyone in a positive mood, that’s a great starting point to build relationships. Get in the habit of signing up for volunteer work periodically.
You can also schedule to attend charity or non-profit events to do some impromptu networking. Many non-profit organizations are always looking for volunteers and attendees. Becoming a board member of an organization is also a way to connect with influential people in your area. Schedule time to fit in volunteer activities and make an investment into your relationship bank.
Be genuine while building relationships
Only participate in activities that you’re passionate about. Otherwise, you’ll end up being disinterested and not giving your best effort. You want to be honest in your approach, not just going through the motions to try to get what you want. Truly get involved in activities and you’ll find yourself making real connections without even trying so hard.
It takes a combination of strategies to collect money in your relationship bank. You can’t spend all day on social media just like you won’t be able to accomplish your goal by only attending networking events. Building relationships also takes time.
You’ll find success by staying consistently active and having good intentions. Participate in networking events, meet others through volunteering your time at charitable events, and be active on social media outlets. This combination is the best approach to add money to the relationship bank.
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