Value of Business Relationships: Keeping it Simple and Straight Forward

We all know building relationships are important and beneficial for success.  We cannot do everything on our own…it’s all about who you know.  BUT why are these relationships valuable and what do they look like?  From the perspective of a Business Partner it is imperative to build great and lasting relationships that will benefit everyone involved without going overboard! 

Jessica Meeker, Community Relations Director at Hearn & Fleener wrote the following for the CAI RMC Common Interests Magazine:

Is it important to build relationships and more than just one business partner in a certain field or category to have a network of professionals you can depend on for help.  I build relationships with managers and management companies primarily.  The relationship with the board comes second after the manager or management company has established that a relationship can be made. 

Why this way?  Why not just go straight to the board for an interview? Surpass the manager?  It is important that your relationships do not hurt or jeopardize relationships within that circle.  So managers and management companies have the relationship with the board.  That is their business, they manage communities, and how they continue to gain more business.  If I surpass that and go straight to the board, I could potentially hurt the relationship the manager and management company has with the board.  Then hurting my relationship with the manager and management company.  HOW?  They have built a bond of trust and I would be devaluing their relationship and jeopardizing their business.

The relationships I build have value – value in that I do not try and step over people or jeopardize others relationships that they have built just to further myself – like the relationship between a board and the manager and management company.  There is a certain level of respect that you must have for each other.

Why is it valuable to have relationships with multiple business partners?  So you have a network of professionals that you can rely on as a resource. Boards can go to their manager with a problem and the manager can say, “Well, I have an entire network of people we can reach out to.”  Then the manager can put “us” (business partners) in touch with the board to help.  It is great to have a network so you can compare the services you are getting to ensure the board is getting a fair chance at picking the right business partner to work with. 

Relationships are valuable.  They are building up your professional network.  Building relationships with others can strengthen what you bring to the table as a manager and a business partner.  Respect your relationships and value them if you want to get them most out of them.