“The quality of your relationships is it has a direct correlation to the results that you end up seeing.” Tim Fitzpatrick
The journey of entrepreneurship primarily entails building strong and meaningful relationships with different stakeholders. Among all the different factors that interplay to ensure success, strong relationships in business remain central to building a sustainable business. This is according to our guest today Tim Fitzpatrick, who further reiterates the importance of taking time to understand and laydown foundational principles that are necessary for businesses to achieve long-term success.
Tim is an entrepreneur/business owner with expertise in marketing and business growth. He has 20+ years of entrepreneurial experience with a passion for developing and growing businesses. That passion served him well in operating and managing a wholesale distribution company he co-owned for nine years. The company grew an average of 60% a year before being acquired in 2005.
Since then, he’s had failures and successes that have been valuable learning experiences. He started Rialto Marketing in 2013 and has been helping service businesses simplify marketing so they can grow with less stress. Tim believes that most people overcomplicate marketing yet doesn’t have to be that way.
In today’s episode, Tim talks about how he got into entrepreneurship, relationships in business and why facing the uncomfortable challenges fearlessly is the key to growth in business.
- I grew up in Northern California in the Bay Area and my wife and I moved to the Denver area in 2008. [2:34]
- From a business standpoint, realtor marketing is my current business. [2:51]
- When I initially started that business, we were actually focused specifically on selling mobile applications into the K12 education space. [2:57]
- My entrepreneurial journey has not been a straight path where I have had multiple shifts due to changes in the app market. [3:07]
- What we’re doing today is working primarily with service based businesses so they can grow with less stress. [3:28]
- We help them create an implemented plan to communicate the right message to the right people. [3:39]
- Many people are just battling information overload when it comes to marketing due to the many different channels, and tactics within those channels. [3:51]
- I think the reason we overcomplicate marketing is because we skip the fundamentals and that’s what we help people really get in place. [6:38]
- When I communicate what the fundamentals are and why they’re so important, most people understand it. [7:04]
- I fell into entrepreneurship after I graduated from college and went to help my father manage his distribution company on a day to day basis. [7:40]
- The biggest driver in our success in that business was the quality of the relationships that we had which a lot of those relationships my dad had been building for years. [9:11]
- The quality of your relationships has a direct correlation to the results that you end up seeing. [9:42]
- With long term thinking, you don’t build relationships overnight but have to have that patience, and discipline to what you need to do to build those relationships. [10:36]
- I’ve gotten to a place from a sales standpoint where I look to understand the problem you have first before taking that next step. [12:31]
- Commercial break [13:20]
- I transitioned into residential real estate for about three years ago and one of the things that real estate really pushed me to do was get outside of my comfort zone on a daily basis. [14:39]
- If you are going to be successful long term, you have to be comfortable getting outside your comfort zone because it helps you to continue to grow and embrace change. [15:31]
- I feel fortunate that I’ve never really shied away from change all that much but rather I tend to embrace it. [17:05]
- The information you need to be successful is already there and you do not need to start from ground zero, you just need to know where to go to get that information. [19:06]
- Entrepreneurs need to focus on the next measurable step and break the larger things down into the small steps that they can really focus on. [22:52]
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