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What is the Key to Success? Cultivating Relationships

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The video testimonial in this blog is a great example of a relationship cultivated over time with mutual trust, a key for long-term success.

Cultivating existing relationships is often the most effective way to grow a successful business.

There are three categories of relationship ties:

  • Strong ties – People we consider close and talk to often.
  • Weak ties – People we know on a casual basis and talk to periodically.
  • Dormant ties – People we know only slightly and rarely talk to.

For example, a real estate investor with strong ties to the right brokers will be the first to get the best leads to new deals. Real estate brokers with connections to active investors will more than likely get more listings.

There are intangible motivational factors embedded in relationships. Whether they are strong ties, weak ties, or dormant ties, where there is a connection, people are more motivated to cooperate and share information.

There is scientific evidence to prove that reconnecting with weak and dormant ties can often result in more benefits than your strongest ties.

Our strong ties travel in the same circles we do. Weak and dormant ties have entirely different circles of influence with untapped resources and connections we would never otherwise have access to.

For example, I had a dormant tie recently call me looking for a job opportunity. I gave him some leads that resulted in a job offer that he would have most likely never received without the connection because my connections were not within his sphere of relationships.

Don’t underestimate the power of your existing contacts, no matter how remote they may be.

The saying “You reap what you sow” is so true in relationships when it comes to business development.

If we sow into people’s lives by making a sincere effort to keep in touch and show interest in them, whether it’s a strong tie, a weak tie, or a dormant tie, we will reap the rewards of not only quality friendships but create a network of resources generating new business that will be invaluable well into the future.

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