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45: Building Trust: The Power of Relationships in Business Success
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In this week's episode of the Atomic Business Coaching podcast, Tom and Adam dive deep into the crucial role of relationships in business. Tom draws parallels between his experiences in medicine and business, underscoring how trust significantly impacts outcomes. Adam supports this perspective, emphasizing that relationships are all about building trust. He discusses the growth of his companies and attributes a significant part of this success to strong relationships.
The conversation also touches on the unique role of purple-collar professionals. Adam describes their three roles: blue-collar, white-collar, and business management. He elaborates on how relationships can drive sales and innovation, though they take time to develop.
Tom further adds that relationships build trust and credibility. He warns against transactional relationships, viewing them as empty and lacking substance. He stands by the power of fostering trust for client engagement and highlights the importance of person-to-person connections. Adam advocates for creating giving and respectful relationships. He shares his approach of asking his contacts if there is anything he can do for them, fostering a culture of reciprocal support.
Adam then explores the concept of referral relationships. He notes these relations as particularly beneficial for purple-collar professionals with established trusted clients. Adam and Tom provide an example of a restoration company client who, through focusing and investing in relationship building, managed to generate enough business to hire more staff. This freed up more time for further relationship building and management.
Lastly, Tom points out that successful business relationships can enhance personal ones, hinting at the intertwining nature of our professional and personal lives.
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