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Six Ways You Can Leverage Relationships to Build Your Business

Many businesses are built on referrals and the power of leveraging relationships. Being aware and proactive of the need to manage your relationships with potential business partners and your relationship with the community will help your business grow and succeed. Here are six ways to get that done:

Network, network, network.
It’s that important. Get out and make friends at business, community and personal networking events. The more people you know, meet, and introduce to your business, the more likely you’ll bump into a customer.

Help others who can’t help you.
This seems counterintuitive at first, but our society is an interconnected web of friends, social connectivity, and business partners. If you limit your networking and relationship building to those you think will help you immediately, you’ll miss out on all the second and third level connections.

Help others who can help you.
You won’t be good at everything. Finding business owners who complement your competencies with skills and expertise you don’t have will help make up for strengths you lack.

Ask to be introduced.
Some social networks will even help you determine which of your connections may know a potential relationship, asking one of your friends to vouch for you will make introductions easier and serve as a form of validation.

Get your name out in the community.
Sponsoring little league teams and charity events are great ways to build community goodwill. This takes relationship building to a macro level, in this case you’re building a relationship between your business and your community. You’re doing good and making a good name for yourself.

Start off with a bang.
Starting a small business means building a customer base from scratch. Leveraging the power of personal relationship can give you a boost at the beginning, right when you need it most.

Finally, never underestimate the power of a smile and a handshake. There are few business propositions as powerful as genuine good will.

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IBERIABANK specializes in helping small businesses grow. IBERIABANK.com/Business/Checking