I proclaimed that “I am in the Relationship Business” in a previous blog post. Relationship building is a significant component in my deal sourcing strategy for next year. But how do you quantify a relationship? What is the difference between a contact and a relationship? Those are the questions that I thought deeper on when I was doing my 2022 strategic plan.

I decided that I needed some rubric to judge my relationship strength with people. For example, what are the activities or levels of commitments from a relationship versus a contact? Of course, it is not perfect, but I came up with this.

Tier 1: Dinner, golf, have cell #, providing flow continuously.

Tier 2: Have cell #, lunch, will provide deals when contacted.

Tier 3: Emails, lunches, superficial.

Tier 4: Does not know me but I want to know them.

This framework gives me a general understanding of the amount of depth I have with these individuals. Dinners are more intimate than lunches. Having cellphone numbers and texting is more personal than emails. If you are going to play golf with me for 4-hours you will either do business with me or never talk to me again.

I will continue to hone this over time but it is a good way to think about how I am going to level up contacts in new markets.