There is absolute truth in the saying ‘it’s not what you know – it’s who you know that matters.’ The phrase was first coined in 1914, and, over one hundred years later, it remains a relevant way to think about the value of relationships. Any person’s success, at least in part, comes through the relationships they form. The people you know can help you grow.
In professional services, valuable relationships are key to performing at an elevated level when you are searching for new and better ways to serve clients, grow business, access information, and find resources that are not always inside your firm.
Here are four key ways forming strong relationships with other professionals in your industry can add value to your career:
Help You Gain Depth and Understanding
Each industry has its own nuances, language, rules, and regulations. The better you and your team understand these distinctions, the more likely you are to attract and retain industry clients. It’s important to form relationships with professionals pursuing similar clientele, as they can provide you with the right resources to help you gain depth and understanding in all the facets of an industry.
Help You Identify New Service Opportunities
As your clients’ businesses change, so too must the ways in which you serve them. Other industry experts can help you find new services your firm doesn’t currently provide, and they can show you how they need to be positioned and delivered to your clients. Developing these relationships can help steer you in the right direction, and new avenues to service and practice area expansion will swing wide open for you.
Help You Proactively Solve Problems
Business owners want their professional service providers to proactively inform them of things that will impact their business. Doing so gives them confidence that you are looking out for their business better than anyone else would. Any surprises thrown into the relationship will cause problems, but they can be easily avoided when you have a network of trusted professionals providing answers for complex, industry-focused questions.
Help You Access Quality Resources
Clients and prospects often ask a lot of questions. When they come to you with those questions, it is important that you can find the answers fast. Networking with other industry professionals minimizes the job of searching for answers. Instead of spending scarce resources searching on your own, you can turn to people you trust who have the tools and information you need. Your industry network will give you comfort in knowing that you will have the answers for clients when they need them, and you will more confidently approach challenges and industry changes that are in front of your clients.
If you are considering ways to establish and grow relationships with practice leaders from around the country, consider joining a Rainmaker Niche Community, attend our upcoming SuperConference to meet and learn from some of the industry’s top growth-focused leaders, or contact us for a complimentary consultation on how Rainmaker can help enhance your firm’s growth culture.