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As a real estate entrepreneur, it’s inevitable that you’ll spend countless hours refining your strategies, implementing systems, and honing your skills. While these efforts are undoubtedly important, there is another often overlooked factor that has a huge impact on success. It’s the company you keep and the relationships you build.
The people you surround yourself with – your inner social circle and professional network – play a vital role in influencing your thinking, values and behavior. These individuals and social networks can either fuel or destroy your success and happiness. This applies not only to business, but also to life.
Why are relationships important in business and life?
Research consistently demonstrates that our social environment has a significant impact on our mental, emotional, and professional well-being. A study published in the Journal of Business Venturing found that entrepreneurs with strong, supportive networks report higher resilience and overall satisfaction.
Similarly, Harvard University’s 85-year study of adult development found that high-quality relationships are one of the greatest predictors of happiness and longevity.
This principle is further reinforced in real estate, a field that thrives on trust and connection. The right relationships with mentors, colleagues, partners, and clients open doors to new opportunities, generate innovative ideas, and provide the encouragement you need to overcome challenges.
Conversely, toxic or unsupportive relationships can drain your energy, stifle your creativity, and instill doubt.
Internal ripple effect
Jim Rohn famously said, “You are the average of the five people you spend the most time with.” This principle applies not only to your personal habits and attitudes, but also to your professional accomplishments.
Surrounding yourself with people who embody the traits you admire, such as ambition, integrity, and resilience, can inspire you to raise your own standards. On the other hand, interacting with negative or complacent people can subtly undermine your motivation and outlook.
There are countless examples of successful people who recognize that their people, support systems, and social networks are key ingredients to their success.
Legendary NBA coach Phil Jackson built his success by emphasizing the importance of teamwork and mutual respect and fostering a culture of cooperation and mindfulness among his players. By building strong relationships with athletes, he led teams like the Chicago Bulls and Los Angeles Lakers to multiple championships.
Real estate mogul and Shark Tank investor Barbara Corcoran shares how her professional breakthrough came from surrounding herself with team members and advisors who complemented her strengths and encouraged bigger thinking. He talked about what happened.
Oprah Winfrey often credits her success to the supportive and visionary people in her life, including her longtime mentor Maya Angelou.
Legendary tennis champion Serena Williams credits much of her success to the unwavering support of her family, especially her sister Venus, who is her training partner and source of inspiration. Surrounding herself with a team of coaches and advisors who shared her vision further fueled her drive for excellence.
Redefine your networking approach
Building a strong network is more than just meeting people and socializing over drinks. It’s about creating a strong sense of community that not only supports you, but also challenges you and helps you lean into the edge of growth.
Here are some pro tips to consider when networking and connecting.
quality over quantity
Shift your focus from collecting contacts to building real, authentic relationships. Take the time to understand the goals, values, and motivations of the people in your circle. Many of my clients have transitioned to this view of networking when attending conferences and retreats.
Rather than glassing with dozens of people, they choose to focus on more one-on-one connections, and as a result, they build strong referral networks and forge friendships that support and inspire them. I did.
Protect your energy through mindful interactions
Your time, your choice. Yes, be intentional about who you spend your time with. Build trust by minimizing contact with people who gossip or perpetuate negative opinions, and focus on what’s going wrong. Prioritize relationships that energize and inspire you.
Diversify your network and gain new perspectives
Engage with people from different industries, backgrounds, and skill sets. Expanding your network beyond real estate can lead to innovative ideas, unique solutions, and unexpected opportunities. Seek out connections that expand your horizons and provide fresh perspectives on life, business, and success.
Prompts to assess your social circle
Taking action is essential for change. And to get different results, you need to act differently and make new choices. Let’s start by looking back at our current network.
Proceed through the assessment using the following prompts.
Who uplifts you? Identify people who inspire, encourage, and bless you. How often do you interact with them? Who is pushing you to grow? Think about who is pushing you to think critically and expand your comfort zone. If no one challenges you, it’s definitely time to diversify and expand your circle. Who steals your energy? Be honest about relationships that make you feel drained, unmotivated, or have doubts. What new boundaries can you set for the time and attention you give to this relationship? What values do your closest associates embody and live? Does the business’ mission align with yours? Do they compliment you? Do they conflict with yours? Are their actions consistent with your values? Do their values align with their own values? Are you traveling back and forth? Evaluate how you show up in your relationships. Are you offering support and value in return?
In the fast-paced, competitive world of real estate entrepreneurship, the relationships you build are just as important as the systems you build. Surrounding yourself with positive, motivated, and supportive people improves your mindset, strengthens your resilience, and propels your business forward.
Take time to evaluate and intentionally shape your people. Because the companionship you keep not only reflects who you are, but predicts the kind of person you will become.
Melanie C. Klein, MA, is a sought-after empowerment and mindset coach who works with individuals and teams across the country to increase success and abundance without sacrificing joy, in both personal and professional areas. We are working on coordinating and integrating areas.
