Recently I had an old colleague of mine connect with me after over a decade. He had lost his job and was looking for an opportunity. The challenge was the price value/equation did not seem right to me to refer him to anyone. Since I'm not part of the corporate world, my referrals have limited impact because I don't have anything to offer in return, such as opportunities for others.
I told my friends that, as entrepreneurs, we cannot expect favors or trade anything valuable in business projects. Goodwill, relationships, etc. work only up to a point. Beyond that, everyone asks the same question 'What's in it for me?"
There are several other such examples that I can give you, and I am sure you have some of your own too. Your peers and colleagues from the corporate world will greet you and like your post. You can do the same and comment on their posts, book reviews, etc. But that's where it will stay.
After I sold my business nearly 2 years ago, from the 100+ clients I had, I can count the people I am in touch with the fingers on one hand. It is also me.....because I have moved on and so have they. So why does this happen?
Business relationships are usually based on transactions and the outcome determines the strength of the relationship, unlike relationships with family and close friends. In a competitive world, when you falter there's someone to take your place. So you do get some leeway with good relationships but the results define the quality. Fail....and you will fade away.
As I get ready for my next startup.... I always remember this early lesson in business and always focus on ensuring the business delivery and experience remains good. The outcome is not in my hands completely , but I also need the network to make it work.
What do you think?
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