Whom Do You Need to Meet to Help Grow Your Business? WHO, not WHAT.

No man is an island, and neither is a business. You and your team may think you can grow your business on your own; however, the truth is that you must develop new relationships and cultivate existing business relationships to grow successfully.

In business, there is a strategy called the "Top 25" relationships in business that can help expand your reach. Your "Top 25" are not necessarily your top 25 customers, but some of your customers may be part of this list. These can include influencers, potential partners, investors or customers.

Another way to think about the "Top 25" relationships in business is to consider who are the top 25 contacts in your professional network. If the number doesn't reach 25, it's time to start meeting more people to help you in business.

How do you identify who are, or should be, part of your Top 25 relationships in business? Here are some helpful tips:

1.???Take a look at your current relationships

Whether you've been in business for a while or just launched your own company, you already have business relationships and contacts in your professional network. Take a look at your list of professional contacts. Where does your current business come from? Think of relationships like your suppliers, lawyers, or accountants. These are all professional contacts that can refer you and your company to other people – they also help you and your clients as service providers. List who among them belongs in your Top 25.

Aside from your professional network, take a look at your personal network. University buddies, former colleagues, and personal acquaintances. How could they help you grow your business?

2.???Rank your list

Hopefully, you came up with a few names to put on this list to get started. Next, assess each person on the list. Does the person know about your business? If yes, do they know enough about your services to tell others about you? Do they know your target market?

If the answers are a mix of yes and no, think of what you can do to change the people marked with "no" to "yes." Set up meetings with them to talk to them about your business. Let them know the new services you offer, your new website, or the reviews you've received. Inform them about your company so they can keep you top of mind when a conversation comes up regarding a subject related to your business. This way, you don't even have to be there personally to market your business.

3.???Grow and build the list

If your Top 25 relationships in business are less than 25, it's time to create new connections and build more relationships. Here are the types of relationships you should be looking at:

●????Business partnerships

First, take a look at your business partnerships. Develop relationships with businesses or business owners in the same market as you. If you don't know where to start, join a local business growth network that can connect you with other businesses in your area. Joining gives you access to other members that can become referral partners and trusted business contacts.

●????Financial relationships

Growing in business is more than partnering with as many other organizations or businesses as possible. It also means having enough financial resources to grow your business. An economic partnership can also be part of your Top 5 relationships in business. An example of an essential financial collaboration is with a bank that extends your credit to give you more access to funds to buy more supplies. It could also be your relationship with a trustworthy and knowledgeable financial advisor or it could be potential business investors.

●????Legal relationships

While you may not want to pay attention to the law, legal issues are part of running a business. To focus on running your business smoothly, you'll need a good lawyer who can explain these laws to you in terms you can understand. For example, when you have a business, you need to know about tax, labour, and employment laws.

More importantly, good legal counsel will set up your business entities correctly and let you know if and when you need to comply with new laws. In other words, having a good relationship with your legal counsel will help you avoid any future problems, including after growing and expanding your business.

●????Mentors

Mentorship plays a significant role in the success of a business owner and their business. A good mentor can share past experiences, best practices, and sound advice. Working with a mentor can give you knowledge and insights you would not have known otherwise.

Even the most successful and seasoned business owners have mentors. Working with a mentor is not exclusive to start-ups or those trying to launch their first business. Having a mentor gives you continued guidance, even when you've been in the industry for five, ten, or more years.

You can start with your local business growth networks if you don't know where to find a mentor. You can connect with other members and possibly meet your future mentor. Most successful business owners have several business mentors.

●????Influencers

Influencer marketing is quite common these days, it's a great way to leverage the audience of influencers who have spent time establishing sizable marketing audiences. Influencer marketing is one of the fastest ways to grow your business, but you must be marketing and networking to attract the right kind of people. The more famous the name, the faster you'll scale.

Which influencers could help you and your brand? Add them to the list.

●????Experts

What about experts in all other areas of business e.g. digital marketing, branding, CRM and systems, leadership or culture? We need a tribe of experts around us to prevent us from making costly mistakes and to get us to where we need to go faster. Are you surrounded by the experts you need or are you winging it? What problems do you need to be solved and WHO, not WHAT can help you?

●????Customers

Of course, customers are the lifeblood of any business. A business cannot grow without any customers or clients. So, customer relationships are crucial.

Remember that happy customers love telling other people about their experience with a business. They'll refer you even without you having to ask them. Remember that it also goes the other way. An unhappy customer will tell many more about their experience with you if your business doesn't meet their expectations; hence, maintaining positive relationships with your customers is crucial.

Keeping your customers happy can transform regular customers into repeat customers into faithful brand supporters. When a customer becomes a brand supporter, they help build the brand, promote your service, and grow your business.

●????Employees and top talent

We mustn’t forget our employees – they also form part of your Top 25 relationships in business. People are an essential asset of any business. While you can make plans for the growth of your business, you need your employees to help you achieve these goals.

We must value our employees and provide opportunities for growth and learning. They will work harder, stay committed to your company, and help your business thrive and grow.

Fostering a desirable work environment will help the growth of your business. While you might think you need to focus on external relationships, such as partnerships, mentors, or customers, employees also help you grow your business. A good work environment helps attract top talent, which is crucial in getting your business ready for growth.

These people are the ones you need to meet, or maybe have met already, and can help you in business.

When you have your Top 25 relationships in business (the ones you need), reach out, establish those relationships and then cultivate, cultivate, cultivate. Remember that these professional relationships should be win-win – how can you help others??Get creative. They can help you grow your business, but you should also be ready and willing to help them in return.

Successfully growing and expanding your business depends on how well you can start, maintain, and continue building on relationships. Get out your pen – who are your Top 25?

#thepowerofconnection #thepowerofcommunity #businessgrowthstrategy

#businessnetworking #leverage

Meet whom you need to meet at one of our upcoming growth events: https://www.district32.com.au/guest-events/