Why our business relationships improve our business

Posted by: Raymond Sykes
Category: Director's Chair

Raymond Sykes Directors Chair Hallcroft Finance Value of business relationships

“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!

 

Raymond Sykes
Author: Raymond Sykes