Latest news with #relationshipbuilding
Yahoo
08-07-2025
- Business
- Yahoo
3 Habits All Financially Successful Clients Share, According to CFP Tammy Trenta
As the founder and CEO of Family Financial, a Los Angeles-based wealth management firm that specializes in working with business owners and high-net-worth families, Tammy Trenta has seen firsthand what it takes be successful. However, the common traits she sees among her clients are not necessarily their financial behaviors. Find Out: Read Next: 'As someone who lives and breathes strategy — financial, tax, estate planning — I'm the first to tell you: The numbers matter,' Trenta, a CFP, recently shared on Instagram. 'But the meaning behind them? That's where true wealth begins.' Here are the three habits Trenta has 'seen time and again with my most successful clients.' Trenta said that her most successful clients 'value people more than possessions.' 'True wealth-builders invest in relationships — because no amount of money replaces belonging, community or shared joy,' she wrote. Learn More: While planning ahead is essential, it's just as important to embrace the present moment. 'Music, like life, happens in real time,' Trenta wrote. 'The most grounded, fulfilled people I know don't just chase goals — they dance along the way.' Being able to enjoy life now is true financial freedom, she said. 'Financial freedom isn't just about early retirement or generational planning,' Trenta explained. 'It's about living richly now — and that means making space for the things money can't buy. 'Whether it's a concert, a deep conversation over wine or a moment of silence with someone who gets you, these are the returns you can't calculate but never forget.' Trenta's most successful clients 'live in alignment' with the values that are most important to them. 'Building a solid financial foundation is powerful not just so you have more,' she wrote, 'but so you can experience more freedom, creativity [and] spontaneity.' More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 10 Unreliable SUVs To Stay Away From Buying How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on 3 Habits All Financially Successful Clients Share, According to CFP Tammy Trenta Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Business
07-07-2025
- Business
- Arabian Business
World Trade Resource CEO on bringing cultural intelligence to drive better business performance
Stephan Branch is no stranger to global boardrooms. He's led multi-billion-dollar companies, taken organisations public, and worked in over 50 countries across five continents. Now, as CEO of World Trade Resource (WTR), a global consulting firm helping multinational organisations optimise performance, he's bringing his global expertise in cultural intelligence to the UAE with a bolder message. Relationship-building isn't optional. It's the engine of performance. With a childhood shaped by exchange students in the house and professional life on five continents, Branch brings a rare blend of lived experience and executive leadership to the challenges of globalisation. At a time when the UAE is increasingly becoming a nexus for international commerce and innovation, he explains how global businesses are being encouraged to operate here. WTR is known for tracking tens of thousands of culturally relevant metrics across nations, sectors, and teams to improve workplace outcomes, leadership effectiveness, and business performance. 'We don't just look at demographics or surface behaviours,' Branch explains. 'We dig into how people view time, hierarchy, trust, and success, and how those views affect everything from negotiations to employee retention.' In the UAE, for instance, where the workforce and executive landscape is profoundly international and relational, that kind of understanding is not just useful; it's essential. 'In a place like Dubai, if you walk into a room and expect to be treated as an equal on your resume alone, without building credibility or connection, you'll be politely ignored,' Branch says. 'Hierarchy and respect matter. So does taking the time to get to know someone: about their family, their background, what drives them. That's where the real business starts.' Branch shares the example of a business leader failing, not because they lacked skills, but because they misread the cultural environment when moving from Milan to Barcelona. 'She would assume Spain would operate similarly to Northern Italy. But her entire education was Germanic in structure: transactional, linear, and results-driven. She has never allocated time to build relationships with her team. In Spain, that will be seen as dismissive,' he recalls. 'Six months down the line, she would be floundering, and her team disengaged.' The WTR CEO gives another instance wherein an executive from Paris might fail after relocating to Montreal. He shares: 'One would think that speaking French is enough. But Quebecois culture is more egalitarian. Titles don't carry as much weight there. You have to earn your team's buy-in personally. If the executive doesn't, it would derail their career.' Branch further explains that this is not optional. For him, labelling cultural intelligence as such undermines its value. He says, 'Cultural competency impacts mergers and acquisitions, branding, sales, leadership, team cohesion; everything that hits your bottom line.' And he's right. He's observed this himself: organisations that fail to adapt their leadership and internal culture across regions see dips in performance, morale, and even market share. And that's especially dangerous in a place like the UAE, where reputation and relationship precede results. 'You won't get traction here with a US or German-style transactional mindset. You must adapt your leadership and build relational capital. That's how deals get done,' Branch states. As more companies build globally distributed teams, Branch sees an urgent need for internal alignment. He says, 'I've seen different teams in different countries. Each one interprets time, status, hierarchy, and trust differently. No one trains leaders for that. You won't get results unless you create a unifying, inclusive internal culture that still respects regional nuances.' Through WTR's team profiling and Branch's decades of expertise, companies are able to assess how cultural expectations play out inside their teams, not just between countries but between individuals. 'Cultural norms aren't static. You might have a Brazilian on your team raised in South Africa with a German business education. That's a unique combination. We train leaders to lead that person, not a stereotype,' he says. Branch further points to 'status attainment' as a cultural difference. 'In the US or Scandinavia, success is defined by position and achievement. But in the Middle East or Latin cultures, it's balanced with community, legacy, and family. Leaders will need to tap into that to truly connect without rushing the process and losing credibility as well as the deal,' he shares. Stephan Branch isn't asking companies to slow down. He's showing them how to go faster by getting smarter. 'This is about achieving optimum performance,' he says. 'If you're not embedding cultural intelligence into how you lead, manage, and grow globally, you're leaving money, talent, and opportunity on the table.' As UAE-based firms continue to expand across borders and as foreign companies seek to grow within the Gulf, he has one message: 'You can't lead globally until you learn how to connect locally.'
Forbes
03-07-2025
- Business
- Forbes
How Trust And Relationship Building Transform Client Engagement
John R. Kormanik, esq. CEO and Head Coach at John R. Kormanik Coaching. From my past working in law and my current career as an executive coach working exclusively with outstanding law firm leaders, I've seen up close how trust is essential for driving client engagement. Think about it. Clients often arrive at the lawyer's door drowning in confusion, cloaked in crisis and consumed by conflict. While they're coming to you and your associates for expert legal tactics, cultivating a trusting relationship with them at the same time can pay enormous dividends for your firm. However, attorneys are trained to evaluate facts, make arguments and generally act in ways that avoid risk. In other words, they're trained to build cases, not relationships. So, they tend to believe it's more important to let their work speak for itself. But in a world of ever-increasing competition, that couldn't be further from the truth. Relationship Building Is A Driver Of ROI Relationship building with clients, their team, referral sources and tactical partners is as much of a strategic leadership practice as business development or 'lawyering.' Focusing on these connections can lead to a variety of benefits. For example, it helps create stronger client bonds, greater lifetime value (LTV) and deeper impact. Establishing a relationship with clients can improve their satisfaction, leading to greater retention. As law expert Heidi Gardner once said, 'The more partners serve a client, the longer that client remains with the firm.' This is vital, considering the cost of acquiring a new client is higher than retaining an existing one. Meanwhile, as research has shown, just a 5% increase in customer retention can increase profits by 25% to 95%. Talk about increasing LTV! Despite this, most attorneys compartmentalize working relationships as clients, potential clients, the opposition or someone who's not relevant. So, what would happen if we ditched the compartmentalization and simply thought of people as people? The Shift From Transaction To Transformation When engaging with clients, most lawyers default to showcasing their well-honed legal tactics. After all, it's tactics that ultimately make it possible to deliver the results the client seeks and remain within the ethical boundaries that govern attorneys' work. Leaning on them is easy, comfortable and safe. However, when we're solely focused on being tactical, we lack the capacity to empathize and connect with others. Do clients want a brilliant tactician? Of course they do. But I don't believe that's all they want. Clients need their counsel to understand them on a human level and provide space so they can tell their story (even the parts that are legally irrelevant). They want to know that, when you're speaking with them or working on their matter, you're fully present and engaged. Because while the client's matter may be one of many for you, it's one of one for them. Finally, clients crave reliability. Do you do what you say you will do, when you say you will do it? Each of these things—understanding, presence and reliability—creates trust between your client and you, creating a strong relationship. Turn Relationship Building Into A Core Leadership Habit Becoming skilled at relationship building isn't some hack or marketing ploy, though. People have outstanding b.s. detectors. If you want to start thinking in terms of what clients actually want from their attorney, then act in accordance with that knowledge, you have to shift your approach to leadership. It'll require slowing down, being uncomfortable and doing things differently, all in service of your client and, ultimately, your firm. Here are three key ways to ensure that you and your team are skilled in relationship building: 1. Create clarity. Make certain you frequently talk about the value of relationship building. I find this George Bernard Shaw quote to be a valuable reminder: 'The single biggest problem in communication is the illusion that it has taken place.' 2. Walk the talk. Through your actions, demonstrate the importance of relationship building. Additionally, ensure your compensation model identifies and rewards the achievement of KPIs that evidence relationship building. Then communicate the value of the activities to individuals and the firm as a whole. 3. Hire for interpersonal ability. Law firm leaders, whether they're managing partners, shareholders or practice group leaders, should consider the words of J. Willard Marriott, former CEO of Marriott International: 'It's very hard to teach people to smile. That's why we hire friendly associates and train technical skills.' With that in mind, bring on associates who understand the value of, and are energized by, relationship building. Final Takeaway: Lawyers Who Lead, Win In the ultra-competitive legal market, shifting your priorities from being the best tactician to being the best trusted advisor who cultivates relationships isn't just fluff. It improves the firm's bottom line. But trust isn't built in your conference room in a single interaction. It's built little by little every day, when you and your associates consistently show up as human beings first, tacticians second. Forbes Coaches Council is an invitation-only community for leading business and career coaches. Do I qualify?
Forbes
13-05-2025
- Business
- Forbes
Is Your Business Growth Stalled? You Might Be Prioritizing The Wrong Relationships
Selena Soo built a million-dollar microbusiness around her course on publicity, 'Impacting Millions.' Now the veteran publicist is releasing a book, Rich Relationships: Create a Million-Dollar Network for Your Business, to show other entrepreneurs how to build deep relationships that support their goals. Soo says the idea for the book was 18 years in the making. The Columbia University graduate founded S2 Groupe, a marketing and publicity consultancy focused on small-business clients. She also runs the Impact Accelerator group coaching program. In working with small business owners, she saw that many weren't building strong relationships that could help them grow their businesses. 'I felt a lot of people didn't really understand the power of relationship building and how closely it ties to your goals,' she says. 'I wanted other people to understand how to create that, how to build, nurture and act toward a million-dollar network,' she says. Many entrepreneurs dread networking because of the 'ick factor' or shyness, but there's no getting around it: Research shows that strong relationships are necessary for building a healthy business. One recent study found that strong ties with entrepreneurs increase the chances of someone becoming one, while having diverse ties can lead to greater innovation. 'We can feel that we're connected because we have all these friends on social media, but when we really need to count on our network, we can't necessarily lean on those contacts,' says Soo. 'So we really want to get clear on, 'Who are our rich relationships?'' Marketing and publicity consultant Selena Soo noticed that many small business owners weren't ... More tapping the power of building strong relationships. She is now advising them on how to do that through a new book, "Rich Relationships." Here is some of the advice she shared on how to build more mutually beneficial connections. Understand the difference between being intentional versus transactional. There's nothing wrong with looking to build relationships with people who can help us, according to Soo. That's different from seeking a quid pro quo. 'We don't have a million hours in a day, so we're going to be intentional and purposeful about meeting the people who energize us, excite us, inspire us and that we care about,' she says. 'We want to see them when there are synergies and possibilities for mutual support, so we're going to intentionally pour into those relationships. But just because we're intentional, it doesn't mean we're being transactional.' Soo, who describes herself as an introvert, has tapped her own experience in building longstanding relationships with high-profile colleagues such as self-help author Marie Forleo, who described her as 'a woman you want on your side," because of her expertise in publicity and marketing in a published testimonial. Prioritize the relationships that really matter. Based on research she reviewed, Soo believes people can only maintain about 150 active, meaningful relationships. She has classified relationships into circles from one to six, from closest to most distant. She recommends prioritizing Circles One through Three. 'Circle Ones' include your close family, life partner, best friend, and perhaps a trusted therapist or business partner—'the people who do life with you,' she says. 'Circle Twos' are treasured connections who would show up for you in your time of need (and vice versa). 'Circle Threes' are your active network. The other three circles can also be part of your network, according to Soo, but should not dominate your calendar. 'Circle Four' is your distant connections—people you don't have the energy or the bandwidth to go deep with right now. 'Circle Five' is acquaintances or want to keep your distance from. 'Circle Six'' is people you don't know. Know why you're meeting people. Before prioritizing relationships in your network, you need to be able to articulate what your goals and dreams are, according to Soo. 'Is it to have a six-figure business? Is it to write a book? Is it to be nomadic and work from anywhere in the world? Is it to achieve a four-day work week? You really want to find other people that have done that,' she says. Once you know your desires for the business, then ask, 'Who are the people who are connected to my goals and dreams?' she recommends. Decide which relationships you want to create. If you're in early career, a mentor might be important. Later on, you might want to connect with like-minded peers, referral partners, super-connectors who are centers of influence, potential employees, or investors. 'Get clear on your goals,' she advises. Build your personal brand. Many potential connections will want to know who you are before meeting you. Building a strong presence on LinkedIn, Instagram or other social sites can help open doors. 'It's not just about what their elevator pitch is," says Soo. 'It's more the personal brand that will determine whether a meeting even takes place when people are short on time.' Nurture connections. Simply connecting on LinkedIn or other social platforms doesn't necessarily mean you have a strong relationship that you can lean on, Soo says. 'If you meet someone at a conference and you don't talk to them until three years later, there's only so much you're going to be able to do, because you haven't built trust and consistency within that relationship.' Activate your network. 'Sometimes people say, 'I have nurtured relationships. I'm a giver. I'm always pouring into people. But when it comes to my own needs, I don't get support,'' says Soo. 'And sometimes people get upset at their network. But a lot of times, it's that you didn't know how to ask in the right way.' Getting support requires a couple of things, according to Soo. One is to have a vision and mention shared synergies. For instance: 'I see how we can play big together.' Also consider the timing. It may make sense to save up the favor for when it matters, even if that's three years from now. Start your approach with gratitude. With someone who has been a big supporter, you might say, 'Thank you for consistently showing up for me in so many ways. I'm so grateful for your sharing my ideas with your incredible audience and being a part of the events I put together," she recommends. 'What you're doing is acknowledging that there's a relationship and you're showing appreciation for how they've showed up,' she says. 'You're reinforcing an identity: We have a relationships, and you're someone I see as a giver. And I'm grateful for you.' Ask in a way that makes it easy for someone to say yes. Avoid requesting help or advice in a way that's forceful or comes with expectations. To avoid the 'bulldozer' approach, she suggests an opening gambit like these: 'Hey, I wanted to run an idea by you.' 'This could be a long shot, but let me put this out there. I'm curious what you think.' 'Hey, would you be open to this?' 'I had an idea I wanted to run by you.' 'I'm curious if you would ever consider this.' Then be specific: 'It's not, 'I need to figure out what to do with my career,'' says Soo. 'It's: 'I'm having a hard time in my business, and I have three different ideas to acquire more ideal customers. I would love to get your input on what you think of these ideas. Or 'Here are three people I'd like to invite to my events. Do you have any idea how I may be able to get in touch with them? If not, no worries at all.'' Look for ways to make the follow-through easy. For instance, if you would like an introduction, offer to provide a few lines describing who you are that they can tweak. 'You want to take work off of people's plates,' says Soo. Avoid rushing relationships. Going to a networking event with the expectation of making a big 'ask' will likely backfire, according to Soo. Once you've made a new connection and asked some questions to get to know them, look for ways to take the relationship one step further, such as gifting them a free ticket to one of your events or inviting them to do a podcast interview with you. Build from there, so you can truly get to know one another, Soo recommends. 'Sometimes when I join entrepreneur communities or masterminds, someone will say, 'I saw that you just joined our community. You're a publicity expert and I'm a branding expert. What do you think about getting on the phone so that we can trade clients, or we can send clients each other's way?'' 'That's way too much too soon,' says Soo. 'It also makes me think that you don't have discernment because you know nothing about me, but you're going to start sending people my way. When you rush a relationship, you actually damage it. If you start referring someone who doesn't follow through on their word, or delivers a shoddy product, it really hurts your reputation.' Keep in mind that people reveal themselves over time, says Soo. 'And there's no way on day one that you understand the fullness of who someone is. You need time to interact to see if it's a match to do bigger things.' Ultimately, she says, taking your time is worth it. 'That one rich relationship is more valuable than a hundred casual connections,' she says.
