370) Building Referral Partners

Building Referral Partners

If you’re in business, you know that referrals are the most cost-effective source of revenue. And you know to build referral partners into your business strategy, you need to establish relationships. This then begs the question: “With whom should I establish these relationships? “

No doubt, you’re open to accepting referrals from anyone. And you should be. But you can’t have a referral-generating relationship with everyone. So, you need to be tactical about it.

Try this:  First, articulate in your mind the profile of the potential great clients you’d like to have. Then list out all those professionals who are likely of service to these potential clients. Boom! These are the people with whom you want to create a relationship. Why? They’re strategic partners. After all, they operate in the circles where you want to operate, but don’t compete with you. Thus, their clients could be good clients for you. Think about it.


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353) Fishing For Others

Fishing For Others

The best way to get opportunities from your network – such as, new clients or additional business – is to provide opportunities to it.

While it might seem daunting, finding opportunity for others is not as challenging as it might seem. In many respects, it’s like fishing and involves only three steps. Bait. Cast. Reel.

One. Bait the hook. That is, identify features associated with the people, products and services within your network that could be potentially beneficial to others. Then …

Two. Cast the baited hooks, which is to tastefully share information about those features with those in your network who could benefit. And finally …

Three. Reel in the catch. Once someone expresses an interest in the benefit, this is the opportunity to connect them to the person who can help.

And unlike actual fishing, when you fish for opportunities for others, no catch is too small. Every opportunity is a keeper.


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324) Endless Mutual Benefits

Endless Mutual Benefits

So, what is networking, really? If you ask a dozen people, you’ll likely get 12 different answers, none of which is totally right, but none is totally wrong either. So, if you want a good working definition of networking, go to an expert.

In his book, Endless Referrals, hall of fame professional speaker Bob Burg defines networking as “the cultivating of mutually beneficial, give-and-take, win-win relationships.”

Burg hits all the important points. Networking is cultivation. It’s not simply a harvest. It’s also a tilling, planting, and tending to.

Networking is mutually beneficial, give-and-take, win-win. It’s not a grab what you can and move on. Rather it’s a back and forth, help and be helped scenario.

And networking is about relationships. It’s not a singular transaction at some moment in time. Rather, it’s an ongoing, seemingly endless interaction with others.

Networking is truly “the cultivating of mutually beneficial, give-and-take, win-win relationships.”


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