Michael Newman’s latest ‘e-Wealth Daily’ article is titled “Reap the Power of Strong Contacts”. [‘Power of Strong Contacts’ Article]


Michael Newman’s latest ‘e-Wealth Daily’ article:

Reap the Power of Strong Contacts

One of the most important parts of building a business is building contacts. This is because, regardless of how your business fares, you never know when you may need a hand.

When you’re building a business, you’ll meet all kinds of people. Investors, lawyers, accountants, suppliers, customers, colleagues and countless others that make running a business possible. Generally speaking, these are relationships that can last a lifetime. For the most part, these contacts will not necessarily hold you in low regard if your business fails. They will, however, judge you by the kind of person you are and the decisions you make.

Remember, your business does not define you. Your personality does. If you treat people with respect and make a good impression, they’ll likely be willing to engage in business with you again, even if you fail the first time. The reality is that you can do all the right things, make all the right decisions and, for some reason, things just don’t work out. At the end of the day, if people trust you and see the improvement and potential, they will be willing to stick with you.

For example, Entrepreneur.com recently featured an article about a man named Marty Metro. In 2002, he quit his corporate job to start his own business selling used moving boxes. His business was a hit. He generated all kinds of sales and customers flocked to his store. The problem, however, was that his operating expenses were far too high and he had serious problems turning a profit. After three years, he was forced to shut his doors. He held a personal debt of $300,000 and was forced to sell his old furniture to get some cash together.

Because of the contacts he’d made and their belief in him, Metro was able to reopen in 2006. This time, however, he’d learned from his previous mistakes and made the proper adjustments to ensure his business would last. He moved online and opened up regional distribution centers to effectively serve his customers. The most impressive part of his rise to fortune was that the investors and contacts that he’d dealt with during his first try were there to help him re-emerge.

So remember, as you build your business — even if you fail — to treat your contacts with respect so they have confidence in you. You never know when you’ll need them again!

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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