Building strong relationships is one of the most critical yet overlooked steps when starting a business. While many entrepreneurs focus on creating products, securing funding, or crafting business plans, relationships often determine the success or failure of a new venture. By establishing trust, credibility, and support networks before you launch, you set a solid foundation for your business to thrive.
Here are the top six strategies for building relationships before starting your own business.
Networking events and industry conferences provide excellent opportunities to connect with like-minded individuals, potential partners, and mentors. Even before launching your business, showing up in the right places allows you to learn from industry experts, build trust, and identify key contacts. Harvard Business Review highlights that entrepreneurs with strong professional networks are more likely to succeed (*HBR, 2019*).
Building relationships with future collaborators—such as vendors, suppliers, or complementary businesses—before starting your business can save time and resources. Reach out to key players in your industry and explore mutually beneficial opportunities. For example, co-hosting a webinar or guest posting on each other’s platforms can create exposure while solidifying partnerships that will be valuable once your business is live.
By prioritizing relationship-building before launching your business, you create a foundation of trust, support, and credibility that will serve you well throughout your entrepreneurial journey. Whether it’s through networking events, online engagement, or customer connections, strong relationships are the cornerstone of a successful and sustainable business.
Taking a strategic approach to relationship-building involves identifying key individuals, businesses, and organizations that can impact your business. Create a relationship map that prioritizes connections such as industry influencers, potential collaborators, and investors. This map helps you pinpoint who you need to engage with, and how. According to McKinsey & Company, entrepreneurs who identify strategic connections early gain a competitive advantage by accessing targeted opportunities.
Instead of cold outreach, warm referrals from mutual connections are far more effective. Reach out to your existing network and ask for introductions to specific people you want to connect with. Warm introductions come with built-in trust and increase the likelihood of productive relationships. A survey by LinkedIn found that 80% of professionals believe networking through referrals leads to stronger connections (LinkedIn, 2021).
Organizing intimate events, such as roundtable discussions, workshops, or VIP meetups, allows you to build stronger relationships in a focused setting. Hosting small gatherings creates opportunities for deeper connections, as attendees can engage meaningfully without the distractions of large-scale conferences. Entrepreneur and author Keith Ferrazzi calls this “relationship hosting”—an approach that positions you as a connector and trusted resource.
To build credibility, demonstrate your expertise through thought leadership. Publish high-quality content, such as articles, white papers, or industry insights, and share them on platforms like LinkedIn or Medium. Offering actionable insights or unique perspectives positions you as a leader in your field and attracts professionals who value your expertise. Thought leadership also fosters trust and opens doors for partnerships. Edelman’s Trust Barometer reports that 65% of consumers trust experts who consistently share valuable knowledge (Edelman, 2022).
