Make the Most of Your Interactions & Relationships
As competitive as today’s business landscape is, it may be considered ironic that in order for a business to have a chance at success, it needs to build strong relationships with not just its customer base and vendors, but in some cases, some of its competitors as well. Building strong business relationships and having positive interactions with others can help build your company’s reputation, and make your business more attractive to potential investors.
When you own a business, you need to treat every person you meet as if they could be a potential investor, because in truth, they very well could be.
The Value of Being “On”
Have you ever noticed that the old fashioned, in-your-face car salesman at your local car dealership also happens to be the one who always seems to be closing the deal? He looks like a car salesman, he speaks like a car salesman, and yet, customers flock to him. The reason for the salesman’s success is that the salesman is always “on.” He understands the value of building personal relationships both on the lot and off, and he knows that every person he meets is a potential customer. He is good at what he does, and people trust him because of that. In short, he is always thinking about the sale.
Business owners need to adopt this line of thinking when dealing with their own relationships, because investors can be found in the strangest of places. Whether you are at a networking event, a social get-together at a friend’s house, or at a community picnic, every person you meet could be a potential investor. Investors do not wear hats or shirts with “investor” emblazoned on them, so you need to be like that car salesman, and make the most out of all of your interactions.
How to Foster Business Relationships to Attract Potential Investors
Trust is one of your most powerful investor-attracting tools, so building it with your customers, vendors, and business counterparts is one of the best ways to make your business attractive to potential investors. The key to building trust is to recognize it for what it is – an emotional response. In order to get that strong of a response, a business owner needs to be fully dedicated to working for that trust on every level of their business, 24/7.
Remember that trust is not just freely given, it has to be earned. With trust comes a higher level of respect, and a greater reputation for your business. With these three in tow, your business will be better positioned to attract the quality investors it needs in order to realize true growth. A great opportunity for small businesses to obtain loans and funding is to attend the Access to Capital event on October 18th, 2012 presented by Dun & Bradstreet Credibility Corp. Businesses will have access to one-on-one appointments with lending officers from financial institutions to assess their credibility for a business loan.
If you remain proactive and a vigilant business owner, you might just be surprised at where your next investor comes from.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.