Excerpt from a YouTube video in which Gary Mottershead explains that long-term, mutually beneficial business relationships are built on personal trust rather than formal contracts. He describes a 27-year relationship maintained through handshakes and mutual trust, recounting that he offered to help sell a partner's product despite not being able to pay upfront.
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Unless it's going to be a long term relationship, unless it's going to be mutually beneficial, then there's no point getting into it. And so if that's what it took going over there, and rather than taking me around wherever he wanted to, drinking with them, whatever wanted to, whatever social things they needed to do, I was just going to do that and let that happen. And as a result, I've got a 27 year relationship with people have been awesome to meet. We have no contracts, by the way, there's no contractual agreements out there. It's all been handshakes, if you want to call it that. All been built on the personal relationships because I learned, and particularly for entrepreneurs, we all speak the same language regarding its Mandarin, French or Spanish or German, Italian, whatever it might be, because we all have to rely on other people to help us and support and support each other. And so that made the huge difference for me is that I said, okay, I'm going to trust you. And they had to trust me because when I first went to them, I said, you know, I'll help sell your product from you, but I can't afford to pay you.