Publication number: ELQ-56800-1
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How to Building Winning People Connections
Discover the basic principles of building business relationships and connections!
Introduction
In the entrepreneur world, it’s still a popular misconception that the “idea” is everything. Even though investors, like myself, have long made it clear that we invest in people, not ideas, new venture owners insist on talking about their latest “million dollar idea,” rather than their “million dollar team.” The power is in the people, their business relationships, and their connections.
For example, I grew up in IBM when Bill Gates was helping us deliver the first IBM PC. We slowly realized that Microsoft’s value went far beyond his technical contributions, due to his connections with key software developers and relationships with hardware manufacturers who could make the PC revolution universal. In a very real sense, we funded him, and he superseded even IBM.
After years of consulting, I find that the same lessons apply to businesses of every size and stage. Yet many business owners and leaders don’t seem to understand the basic principles of building business relationships and connections, or don’t know where to start. For the benefit of all, I offer the following key steps:
- Step n°1 |
Keep a focus on people relationships as a top priority.
Some executives consistently tell me they are “too busy” to find and nurture the relationships they need to move their business to the next level. Others let their ego convince them that they have all the answers, and no one can help. I believe collaboration is the lifeblood of every business.
For example, most people think Mark Zuckerberg built Facebook all by himself. In fact, he had four development co-founders, built a relationship with Peter Thiel, a top VC who invested early, and enticed Sheryl Sandberg to fill the COO role he sorely needed.
- Step n°2 |
Use and reward curiosity as a basis for relationships.
Nurture relationships and connections with people in your realm who exhibit curiosity and a passion for learning. These are win-win arrangements leading to continuous innovation, early access to new markets, and a higher return. Connections across business domains are even better.
Bill Gates, for example, shared a common curiosity and mentoring relationship with Warren Buffet, although their business domains were quite different. Oprah Winfrey was clearly helped in her career by her relationship with the famous Barbara Walters.
