Hardly a day goes by that business owners and executives aren’t thinking about ways to grow their business. And on most beautiful days when the sun is shining and the weather’s warm, many (including myself), enjoy spending time on the golf course.
Some might say that there’s no better way to build their business if you can do it while getting a round of golf in. It is a perfect way to build relationships that flourish well beyond the back nine.
All businesses in some way thrive off relationships. I am a commercial loan broker in Totowa and have spent years building relationships with clients, investors, real estate agents, people who work in the commercial real estate world, and more.
Golf has been an integral part of my success in building solid professional relationships. It’s a launch point. Or, more vividly, it’s your first drive off the tee. I can tell you that in the last 11 years as Vice President of LCD Commercial Lending, I have not closed anything the day I first met them on the golf course.
This is one of the biggest things to remember when doing business on the golf course - you are not going to land that big deal, large account, or whatever it is that day. The golf course is the starting point. I personally have had plenty of business meetings playing golf and have played in a lot of golf outings over the years. It all goes back to the same basic principle, going out and building that relationship.
However, I have built those relationships over time and developed a network of people. Many of them I still do business with to this day. There are people that I played with years before who didn’t need my services at that time, but now they do. They remember me and what I do, and they’ll reach out, bring up our time over golf, and will have more to talk about.
There are some other big do’s and don'ts that I have found out over time.
One of the most important “do’s” is that you want to learn more about them than you want to talk about yourself. While talking about yourself is important, it should not be the main thing. Building a rapport with someone and showing them that you are interested in what they do will go a lot further.
You spend hours together playing golf and this is the perfect opportunity to build that relationship. Many people I have met over time want to talk about their families, kids, achievements that they might have had. You want to embrace this and show that you care so you can build that foundation with them.
You should remember to be asking questions such as, “how did you get started in your business” or “tell me what kind of person you are looking for in the way of clients.” This way, you can use your database of people that you know might be a good fit for them. Making a connection to someone you are meeting for the first time to someone in your network of people will go a long way later on. Even if that connection does not amount to anything, it is the thought that counts at the end of the day.
Bring business cards with you to your outing. You don’t know who you are going to meet and you want to be prepared. I have a digital card with a QR code to scan, allowing them to add their information right there, so there is no need for me to have a stack of cards with me or collect them from others.
Within a couple of days of playing, send out an email letting them know that you enjoyed playing with them and offer some future assistance. As time goes on, touch base with them to see how things are, especially if you uncover things like a child graduating school, a promotion they may have mentioned, or something else that opens the door to having a conversation. Like anything else in business, you want to stay top of mind and show engagement with them.
Some of the don'ts are simple.
First, don’t be asking for business. This is especially true when meeting with someone for the first time. This will make it seem like all you want is their business, not in building a relationship. Without having that foundation, there is no business to be had.
Also, being generous as a connector cements the idea in their mind that you’re thinking about ways to help them, not as simply to grow your own business. If there is someone in your network of people that you know would make a great connection, then make the connection. It shows that you’re proactively looking to help them succeed.
Finally, remember that almost all of us are not on the PGA tour. Don’t take it too seriously. Laugh and build those relationships, versus being upset that you shot a bogey on the last hole. You will remember more than just complaints about the score if you have an open, flowing conversation with someone.
Golf is a great tool to help you and your business. I usually leverage golf to build new or reinforce existing relationships. When I take others or get invited to play, I go out and have fun, build connections and grow my business. Your business will grow organically from there.
For more about Dan's commercial lending business, contact him at LCD Commercial Lending, 973-435-2800 or sterbateam@lcdcommercial.com