“Business relationships, unlike cash, are not a diminishing resource, they can only multiply. This is the main reason why they are so important to have and cultivate through time. They rely mostly on trust, loyalty, and communication.” – Anon
At our recent Board meeting, the team gave an update on business performance for the first two months of 2021. They’ve got off to a cracking start with the new business pipeline back to pre-2020 levels; ahead of plan on new loans funded; several mezzanine loans repaid and investors rolling their cash into new projects; new mezzanine loan referrals from top tier senior debt providers; strategic business plan approved and a new addition to the team adding immediate value.
So why, against the backdrop of the pandemic, is the business making such good headway? I put it down to the deep personal relationships that the team have developed over more than a century. Collectively!
Almost everything in our lives has to do with the relationships we build through time. Whether it is a personal relationship, such as a friendship or a family bond, or with a colleague sharing mutual support, motivation or guidance at work. Or that essential client relationship built on trust over a number of years. Networks are a fundamental part of business success but it is more than just going out to a restaurant (remember those halcyon days?!) for a good lunch. It is all about trust in execution and delivery. Do what you say you will do. I believe this is what our clients want and what the team are delivering.
Hallcroft recently celebrated its eleventh anniversary and this reminded me of another well-known quote:
“Timing, perseverance and ten years of trying will eventually make you look like an overnight success.” Biz Stone – Co-founder of Twitter
P.S. The Hallcroft team are fairly adept at a good lunch as well!