Investing With Purpose by Mark Aardsma

Author:Mark Aardsma
Language: eng
Format: epub
Publisher: Career Press
Published: 2016-02-23T16:00:00+00:00

A Trusted Network Is a Precious Resource

Earlier this year I received a phone call from a business owner interesting in selling his company to me. Though I’d never met him, the first thing he said was, “The president of my bank told me I could trust you.” I was struck in that moment by the immense value of a network of trusting relationships. I got access to a deal I never would have known about otherwise, and I had an advantage before we even started talking.

Your relational network connects you to resources that can support your weak points, help solve problems, or assemble a team to tackle a project that’s bigger than one person. Your relational network can provide encouragement, a foot in the door with a supplier or partner, or the support of an influential person in government or your industry. And the benefits are mutual. Networking relationships are two-way streets with no losers.

At the other extreme is isolation. Isolation is deadly. In isolation we are limited to our own resources, and we begin to lose perspective on reality around us. A lone ranger approach is a recipe for disaster.

A valuable relational network is not just a bunch of people who know each other. At its best, it’s a bunch of people who trust each other. Trust is the core of intimate relationships. It’s the lifeblood of teams performing toward a common goal. It’s the heart of making a sale. It opens the door to opportunities of all kinds. Without trust, everything in business and in relationships grinds to a halt.

When I visit the drive-through at McDonald’s, I hand the cashier my money at the first window, then drive forward and pick up my meal at the second window. If we didn’t trust each other, I might demand to see the food before I hand them the money. They could demand the reverse, and a silly standoff would occur. Even something as simple as that drive-through transaction only works because of trust.

Your reputation is the sum of the trust people all across your network place in you. A “brand” is another name for the reputation of a business. A trusted reputation is a tremendous asset in all kinds of investment activities. It’s the advantage for many prominent figures in business, investing, public speaking, and many other ventures.

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