Business

Why Building Relationships Is the Precursor to Successful Entrepreneurship

Ane Krstevska
Written by Ane Krstevska

Let's say that in any country, the top 20% of the population may very well control the 80% of the whole economy. Have you heard of anyone in the top 20% who is not an owner of a business? No? I thought so. It is certainly reasonable to think that the only way to earn a fortune is to go into business. How do you start your own business? Do you know why building relationships are the precursor to becoming an entrepreneur? How do you turn relationships you have cultivated over the years into entrepreneurship?

Hand showing social networking icons.

From Employment to Entrepreneurship

As an employee, how many times have you experienced being insulted or offended by your boss? How many times were you made to feel insignificant? Have you ever requested to be transferred to another department or resigned because you could not stand your boss? One of the top reasons why employees leave a company is because they could not stand their boss. Another reason is because they do not feel appreciated.

Leaving a company is a big decision. For each job opportunity, there are tens or hundreds of applicants. As you very well know, finding a good job that pays you the wage you feel you deserve is extremely difficult.

Are you one of these people who, instead of thinking about new job opportunities, decided to look for entrepreneurship? If you are, then there is something you need to realize. Before you think about leaving and starting your own business, you need to learn the importance of building relationships.

Being an entrepreneur comes with risks, but the rewards far outweigh the risks. For a business to be successful, you need to be skilled at continuously establishing new relationships and cultivating old ones.

To leave a company and seek better-working conditions and compensation is your right and your prerogative. If you have the intention of becoming an entrepreneur, then your employment becomes a training ground for you to grow your connections or network.

Instead of leaving a company for greener pasture because you cannot get along with your boss, be the one who leaves because of his superb marketability.

The Mindset for Successful Entrepreneurship

Are you one of the people who dream of owning a business and have been thinking about what kind of business you could do? Is it putting up a coffee shop? Perhaps you would like to sell products or services online? What kind of business have you thought about? Have you thought about the people you need to make the business possible? Have you written down your plans?

Before you think of doing a business, you should understand that there are habits practiced by successful people. Are you willing to learn what those habits are and acquire those habits?

Remember that the key to becoming successful boils down to your attitude. It is your willingness to embrace learning and change that makes you prepare to face the harsh reality. Starting your own business requires skills. But the skills alone do not guarantee success in entrepreneurship. Learning how successful business owners think and see things is the first step you need to accomplish. Invest in yourself by attending seminars and reading books.

Getting Ready By Building Relationships

Successful entrepreneurs are good at networking with the right people. Typically, there are two groups of people you need to have a successful business. You need suppliers, service providers, and other people for you to run your business. And then you need people who will make or break you "“ the customers.

What about people who have nothing to do with your business and those who would never be your customers? Instead of ignoring them, set them aside for other opportunities. You never know when one of your former officemates becomes the head of the purchasing department of a company you wish to sell to years down the road, for example. If you have cultivated a relationship with this person, then it is easier to talk business.

As you search for a business you could do, there is a way to do it easier and the chance of becoming successful is higher.

You need to create a list of ALL people you know. On a notebook, create a list that includes:

  • Family members, the whole family tree of both your grandfathers and grandmothers
  • Schoolmates from primary school to college or university
  • People who you have worked with in your occupation
  • People you met in activities and other organizations
  • Random people you have met through the years

Start cultivating relationships with the people on your list as this is what you need to do to jumpstart a successful entrepreneurship.

Starting a Small Business with Your Network

Your education allows you to be employed. But if you have no experience of owning a business, then starting a small business gives you an opportunity to experience and learn more. Instead of banging your head trying to come up with ideas that will take the world by storm, start with the basics.

As you cultivate relationships with the people in your list, and you should be adding more names every day as you meet new people, think of the things your connections need.

Who among your connections have products that others need? Is it possible for you to buy and sell? Trust me, as you go through this process, you are going to find solid ideas that can earn you money on a part-time basis.

What if there is a need, but no one in your connection has the products you could buy and sell? Find the people or companies who do and build relationships with them.

What if there are products but no one to sell to? Find the people who do. You do not start a business without customers. Successful entrepreneurship is about creating demand where there is none, and widening your network of customers to create more demand.

There are so many opportunities out there. It's just a matter of being connected to the right people. On the previous sections, while the focus has been on entrepreneurship, the same attitude works well in employment too. You may be highly skilled but without a growing network of connections, who will offer you better opportunities?

The Successful You Is Yours to Grab

From the moment you decide to have a successful entrepreneurship, the one thing that you need to keep pushing yourself to do is to learn. The richest people in the world, even the old ones, continue to learn.

Recognize Kobe Bryant? Who doesn't? Kobe is arguably one of the greatest ever basketball players in history. He was a student of the game. Early in his career, he had the opportunity to visit the White House and then US President Bill Clinton. One of the things young Kobe asked the president was what books he read to become a successful politician. Bill promised Kobe that he would send a list of books to him, which he did. Kobe read all those books.

To become successful at what you do, and what you plan to do, prepare yourself for success. As you prepare to take a journey, seek people who have experience and talk to them. Ask them to be your mentors. Do not look at the success of these people, instead, learn what they did to achieve their success. Start building relationships with people who could help you.

Finally, let me reveal to you the biggest secret to achieving success. Are you ready? It's only two words. Copy success.

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About the author

Ane Krstevska

Ane Krstevska

Ane Krstevska blogs about self improvement and her blog Self Develop Shop focuses on personal productivity, motivation and self-education. For the past 12 years, she's been working as an HR professional for the US Government and private sector. She is dedicated to help people make positive change and help them stop getting so down about themselves that they feel life is not worth living. Her formula for living is quite simple - live simply, give generously. Come waste time with her on Facebook and Twitter.