We must see at Laconia a few dozen pitches each week, and what continues to amaze me is the lack of relationship-building skills that so many entrepreneurs seem to have.
While growing up, my parents hammered into me the courteousness and importance of writing thank you notes. During the early days of my career, I was shown how to build a business relationship, and most importantly, how to maintain one. Thank you notes were a cornerstone of relationship maintenance. And this was all before there were emails and texts to make the process so damn fast and easy.
Entrepreneurs work so hard building businesses. They identify opportunities, draft business strategies, hire people, develop technology, raise capital and sell, sell and sell! Yet, through it all, they seem to treat relationship-building like a speed bump on the road to success. It seems most people today do not understand how a simple email can leave a door open for future opportunities that might not seem obvious at the time.
I tell my entrepreneurs, and my three children, to try and do the following as religiously as they can: