The most successful entrepreneurs have one thing that sets them apart: Resourcefulness.
They understand that success is not about what you have, but rather how good you are at dealing skillfully and promptly with new situations or obstacles.
Entrepreneurship takes you through many tough times, and you find yourself in different situations all the time. Your resourcefulness will determine how well you adapt to these situations.
A resourceful mindset is what separates successful and unsuccessful business owners. This is because resourceful people are constantly looking for creative ways to make their businesses more successful.
With a resourceful mindset, you’re able to think outside the box and generate new ideas that will steer your business to success. This turns you into an enterprising entrepreneur and places you a cut above the rest.
But how can you start being resourceful?
Resourcefulness is not about having lots of business resources; it’s more about the kind of business relationships you’ve built over the years.
Relationship Building: What Is It?
Relationship building in business involves creating strong and positive bonds with your clients through the use of interpersonal skills. The better relationships you have with your clients and other people useful to your real estate business, the stronger the trust will be and the more business you stand to gain.
Just as with other skills, you can learn how to build effective relationships. All it takes is a little effort. To make your relationship stronger, focus on making connections with more people relevant to your business.
Networking is a great opportunity to make business connections that will translate to strong business relationships.
How to Network and Build Connections
Forget handing out your business card, having a few cocktails and snacks, shaking a few hands and heading home. Networking done right will unlock your resourcefulness.
Here’s how to build effective relationships through networking:
1. Diversify your networks.
Go beyond your immediate circle and people that you know well. To increase your resourcefulness, you need to expand your networks. You can only do this by getting out of your comfort zone. So open yourself to opportunities to meet other people outside this circle and work to nurture relationships with new people. Attend different networking events that draw people from different professions, industries and even walks of life.
2. Give as much as you expect.
Reciprocity is an important ingredient in any relationship. Be open to giving as much as you expect. Share industry information, offer help, connect people, make time for people, etc., and you’ll see your relationships flourish. People will respond to you in the same manner you treat them.
3. Commit to your relationships.
You have to commit time and effort into your relationships. Take your key relationships and put in time to grow them. These are the relationships you believe will bring you returns in the near future. So spend time with your most important clients, employees, mentors, etc., and put effort into building relationships with them.
4. Focus on the relationship.
Gone are the days when networking was all about passing on your business cards. Now, it’s all about the relationships you build during events. If you focus on building relationships, you'll pay more attention to the networks you build around you and not interact with people just for the sake of landing business.
5. Renew and reshape your networks often.
Some relationships might diminish over time. This doesn’t make them less any important to you. Revive such relationships and avoid letting them die by nudging people for some meaningful interaction every now and then. Keep identifying new relationships vital to the future of your business, and build these new connections to replace old ones that cannot be revived.
Benefits of Networking
1. Shared Knowledge
Networking is great for sharing ideas and knowledge. When you interact with people, you get to discuss current issues, exchange opinions, and receive feedback. By doing so, you get to expand your perspective. In your networks, you’ll also find people who have more experience than you, and you can learn so much from them.
The beauty of networking is that it opens up a world of new opportunities for you. You can form business partnerships or get referrals that will help you build your business. You can even get lots of customers during networking sessions.
Who you know matters more for your business than what you know. For your business to thrive, you need the right connections. Networking will connect you with highly influential people who can be a great influence in your entrepreneurial journey.
Networking can help you make lifelong friends who will be great for your business but also your personal life. Networking events normally bring together people who think alike or who have similar interests. This makes it easy for participants to bond. These bonds may lead to strong friendships.
The number one benefit of networking must be the generation of referrals. The referrals you get at networking events are normally pre-qualified for you. Networking gives you high-quality leads, compared to other marketing tactics. If you treat your referrals well, you should be able to turn them into recurring clients.
6. Increased confidence
The more you network, the more you will be able to push yourself to interact with people outside your regular circle. With time, you’ll find your confidence increasing. The more you believe in yourself, the more confident you'll be in your business and the more effort you'll be willing to put into growing it.
The best way to boost your confidence is to establish yourself as an expert in your field. MyBooks members stand out at networking events because they're able to hand out a helpful book in place of a typical business card. Find out more about our program here, and get a free sample of our best-selling book at the end of this post.
Business Networking Groups
Here are a few good networking groups you should consider joining to make you a more resourceful real estate agent.
Local business groups: There are lots of business groups in most cities and towns where members meet on a regular basis. One of the largest business groups in the U.S. is the Chamber of Commerce. Find a business group for real estate agents in your town and join.
BNI (Business Network International): BNI is a great networking business group, especially for getting referrals. Only one person from each specific profession is allowed to join a chapter of BNI. So if you are able to join a chapter, you will be the only real estate agent in that chapter. This eliminates the possibility of competition among members of the group.
Mastermind groups: Mastermind groups are great for brainstorming, learning, peer accountability and business support in a group setting. Joining a relevant Mastermind will sharpen your business and personal skills.
Community service groups: One of the most popular community service groups is Rotary International. Such groups bring together professionals with diverse backgrounds and give them a platform to exchange ideas, form meaningful, lifelong friendships, and give back to their communities.
Professional associations: These are industry-specific groups that bring together people who work in the same industry. So as a Realtor, you should find a real estate association near you. Membership in such groups can also boost your professional standing.
Social media/online business networking groups: There are lots of business networking groups on most social media sites. You will find most of the popular and effective networking groups on Facebook and LinkedIn. Simply search for real estate and related groups on these sites and join them.
Being a resourceful real estate agent will make you someone people want to work with because they know you have all the answers to their questions. They know that they can rely on you to find them the solutions that they seek. So next time you attend a networking event, make sure you come prepared to be resourceful!
Joe Nickelson is a real estate professional dedicated to helping home buyers and sellers achieve their dreams of owning property, and helping real estate agents stop using the sometimes-vicious tactics that weigh on their consciences. He believes that the Smart Agents books will, quite literally, change people’s lives for the better. Check out his full bio here!