Body Shops, Panel Beaters and the International Language of Referrals

Translating Money on the Table into the Local Lingo Helps More BNI Members Make More Money

by Lee Abraham
Money talks. No translation needed. Currency exchange, yes, but translation, no. Anywhere you go around the world, people know how to trade money for goods and services.

Same with referrals. Regardless of culture, folks in every continent on the planet prefer to do business by word-of-mouth with people they know, like and trust.

And just like each country has its own currency, words and phrases can be as unique as the local cuisine.

For example, in the USA, an automobile collision repair business is commonly known as a “Body Shop.” However in Australia, the locals send referrals for wrecked cars to the “Panel Beater.”

Universal Message, Local Lingo, Global Network

As a trainer, speaking the local language is critical if you want students to achieve maximum results. More than just words, images can also be tailored for familiarity and maximum impact.

As publisher of Money on the Table, Referrals in the Bank along with my co-author Dr. Ivan Misner, FAST180 Press works with BNI National and Executive Directors from across the country and around the world to customize training material for the benefit of their local BNI members. We see this as an essential role in effectively serving BNI’s global network. Not to mention very rewarding and a lot of fun!

Thanks in part to our “Personalized Foreword” program, where local leaders can contribute to the book and get their name on the front cover and local branding on the back, FAST180 Press is honored to report that Money on the Table is quickly becoming an international sensation!

Since its release less than a year ago, the book has been published with local flavor in Malaysia, Canada, the USA and now Australia!

Check out the latest version of the cover, featuring Australian currency and a personalized foreword by BNI Australia National Director Frederick Marcoux on the front, and BNI Australia branding on the back!

In addition to the obvious changes to the front and back cover, the Australian version of Money on the Table talks about “panel beaters” not “body shops” and many other local terms and phrases to help local members of BNI Australia learn how to create Power Teams and as a result, make more money.

Just listen to the scuttlebutt around the BNI coffee dripper… “Members Making More Money” sounds good in any language!

For more information about how you can create a Personalized Foreword version of Money on the Table, please visit: http://moneyonthetablebook.com/YOUR_Namer_on_the_Cover.html

Retrospective Significance – Got Yours?

“Retrospective Significance” is the notion that some things you choose to do today potentially create an impact on your life that grows over time.

Here are a few examples of potentially positive retrospective significance: 

• meeting new people
• engaging in meaningful conversation with someone who needs help
• writing a book or a blog post
• having a baby
• starting a new business

 “Retrospective Insignificance” is the opposite, doing things today that have NO impact on the rest of your life: 

• watching TV
• complaining about the economy, or anything else
• playing video games
• wandering around the shopping mall
• listening to the radio while driving, rather than instructional CD’s or Audio Books

What are you choosing to do today? Will your actions today have any impact on tomorrow, next week or next year? If so, will the impact be positive and productive?

Race to Keep Pace – Business Networking Jump Start

 

The race to keep pace with society’s limited attention span is impacting more than just the book publishing industry.

Business networking is a perfect example. On a local level, go to a “Speed Networking” event where you have just a few short minutes to connect fact-to-face with a rapid fire parade of new prospects and potential referral partners. On the internet, the opportunity to build a personal brand with social media in virtually any industry has every hot blooded entrepreneur racing to create visibility online with more people in less time and as a result, make more money.  

As a business networker, our goal is to create referrals for our networking partners, in turn, they find business for us. Clearly, the most effective way to motivate someone to become a “Bragging Buddy” who tells other people why they should like, trust and do business with you, is to first send money making referrals to them.

But as the world spins faster and we seem to have less time to do more and more, being efficient is just as important as being effective. Got a pen and paper? Here is a powerful, yet deceptively simple tool to create business for someone you’ve just met, as well as your network of referral partners,  in less than a minute. Ask the following Trigger Question at networking events, chamber mixers, online messaging or anywhere else you interact with other business people: “How can I help find the type of customers you are looking for?”

This is a simple twist on the age old, direct question “How can I help you?” that cuts to the core of referral networking. The payoff is a result of active listening and recognizing which people and business categories in your network also serve the desired Target Market. Whenever there is a Target Market match, your networking partner is a potential Golden Goose referral source for this new contact, and vice versa. 

Proceed with caution. This Trigger Question is a powerful tool that will jump start your business networking results and create new referral opportunities. Pause for a moment once you’ve found a Target Market match. Take time to learn more about your new contact before sending business in their direction. Protecting your good name is a priority that cannot fall victim to the limited attention span syndrome.

Passion Is Everything – CRUSH IT!

 

All entrepreneurs dream. Successful entrepreneurs take action. Lot’s of it. Some are calculated, carefully plotting and planning every move. A rare few bring an artistic approach to business. Guided by passion and intuition, these natural born empire builders always know what to do, how to do it and when to make it happen. One more thing. They really enjoy what they do!

Meet Gary Vaynerchuk, New York Times best selling author of CRUSH IT! Why NOW is the time to cash in on your passion. Grab a cup of coffee my friend and settle in for a good read. The guy has an interesting story to tell.

At the tender age of eight years old, Gary V. operated multiple lemonade stands and hired other kids to actually sell the lemonade. In the eighth grade he ran a successful, money making baseball card business and at age 15 began working part time as a clerk at the family liquor store. Within a few years of going full time, Vaynerchuk grew annual sales at the store from $4 million to over $50 million!

How? By parlaying self taught sales and marketing skills learned as a childhood business mogul. Oh yeah, he also took the family business online with his wildly popular internet program Wine Library TV.

There are several core elements to Gary V’s success. Passion, fun, commitment to family, hard work and being the best in the world at something are a few of the biggies.

But there’s more to CRUSH IT! than philosophy. A master of personal branding, social media and video blogging, Vaynerchuk serves up an easy to follow blueprint for success. That’s right, your success!

I said easy to follow, not easy to implement. One of Gary V’s principals is to identify your passion. So go ahead, ask yourself, are you passionate about something? Do you have an all consuming, burning desire to achieve a specific goal or manifest a life long dream? Yes? Now is the time to get started. Read the book. CRUSH IT!

Society’s Limited Attention Span – Blame Seth Godin!

 

Video didn’t kill the radio star. Neither did TV. And digital media hasn’t buried ink and paper books. Never will. Sure, the latest and greatest digital delivery systems like Kindle, the IPad and whatever’s next, continue to morph the publishing industry with mind melting speed. But regardless of where change takes our old friend the book, ink and paper will always have a role to play in the marketplace of ideas. 

Standing firm in my belief that ink and paper survives, changes are fast and furious. Not only the vehicle of delivery, but content itself. Face it, society is suffering an intellectual crisis and publishers are scrambling to adapt to our increasingly limited attention span. 

Blame it on Seth Godin. Godin’s brilliant series of short, smart and wildly popular best selling books like “Tribes” and his current gem, “Linchpin,” have set the standard for every aspiring New Times best selling author and thought leader wannabe.    

Got something to say? Say it clearly and quickly. Be authentic, clever and lead a tribe of passionate, like minded people who resonate with you and your message. Become irreplaceable by being as much of you as you can be. Of course, it helps to be a genius with valuable insight and a meaningful perspective, but there’s only one Seth Godin. That would make him a ”Linchpin” of media transition and trusted tour guide on our collective adventure to whatever’s next.

Be a Linchpin yourself! Just don’t take too long to show us what you’ve got! Right? Write!

New Babies and Big Referrals

Dave the Nutrition Guy is talking to Ima Newmom, a young woman in her early 20’s. Ima is expecting her second baby in less than two years and was referred to Dave by her Mom, the Realtor in Dave’s Networking Group. The topic is Ima’s lack of energy and finding the right pre-natal vitamins.

A top notch networker, Dave’s referral radar is on alert. Why? He recognizes the “New Baby” Key Situation as a one of the biggest Power Team Targets he’s been trained to look for.

After answering all of Ima’s questions, making product recommendations, and placing the order, Dave puts away his product information and price sheets. He pauses for a brief moment, then looks deep into Ima’s tired but cheerful eyes. With a simultanious tilt of the head and slight squint of the eyes, subtly signaling sincerity, he asks, “So, how is everything else going with getting ready for the new baby? Are you changing things around at the house, and doing all the planning stuff like writing your Will and getting Life Insurance to protect the baby?”

Suddenly Ima is a little less cheerful and a little more weary. The look in her eyes acknowledge that Dave hit a nerve. Dave smiles. For starters, he is going to help Ima in more ways than just Nutrition. And to do that, he is about to create a few money making referrals for his Power Team!

Networking Sharpshooter

For those of you taking notes, Dave has not only identified the Target (New Baby Key Situation), he just pulled the Trigger, with a couple of carefully crafted questions to expose a need he can convert into a referral for someone on his Power Team.  

Guess what? It worked! Ima and her husband want to convert a covered patio off their master bedroom into a sitting room to use as a nursery for the new baby. Bingo – referral for the General Contractor! 

And yes, they’ve thought about a Will and know they need Life Insurance, but the young couple have been too busy with everything else to make those arrangements. No worries. Dave’s people will make the process easy! 

In fact, Dave gave such compelling recommendations, not only about the products and services, but how much he likes and trusts the people, Ima agreed it was time to get the growing family’s affairs in order and meet with Dave’s Power Team partners. Ima was so eager to get started, she gave Dave her number and asked that his Power Team partners call her right away! 

Lucky Guess?

Why didn’t Ima’s mom see the connections between her daughter’s needs and the prodcuts and services of her Power Team? Because she is more of an “Order Taker” than a referral “Creator” and overlooked the opportunity. She never asked and Ima hadn’t mentioned that among everything else going on in their busy life, she and her husband were thinking about a room addition, not to mention a writing a Will and taking out Life Insurance. 

Does that make Dave the Nutrition Guy lucky? Absolutely not. Dave knows that along with his Nutrition Business, which is in the Health and Wellness Contact Sphere, businesses in the Home Improvement and Finance Contact Spheres also share the New Baby Key Situation as a gold mine of referral opportnities. By asking a couple of Trigger questions to expose a need pertaining to the products and services of his Power Team partners, Dave has demonstrated masterful use of his networking Ammo belt:

Find Target: New Baby Key Situation
Pull Trigger: Asked two questions to expose a need
Fire Bullets: Gave compelling recommendations that resulted in money making referrals.

Wouldn’t you like to have Dave the Nutrition Guy on YOUR Power Team? Better yet, wouldn’t you like to have a Power Team full of networking sharpshooters just like Dave, regardless of what business they are in? Hang on amigo, because that’s where we are going next time, when our adventure in networking continues… Follow Me on Twitter!

Targets, Triggers and Bullets – Ammo Belt for Networking Sharpshooters

Power Team networkers know that building a business with word-of-mouth referrals is more about “farming” than “hunting.” More about nurturing relationships and cultivating credibility over time than the one-and-done, churn-and-burn cycle of today’s hype driven mass marketing. 

That being said, here are three words of war that typically strike fear into the heart of a dove (and boil bloodlust in the belly of the hawk) which we are going to give a FAST180 and redirect into the peace and love, good karma, Givers Gain® philosophy we hold so dear. Ready? Aim…

Target: As in Target Market: Who do you want your Power Team to find for you?

Triggers: – Questions your Power Team ask the Target to uncover a need leading to a money making referral. 

Bullets: Key “Bullet” points your Power Team shares with a Target in an enthusiastic and compelling recommendation explaining what makes you special, and why the prospect will benefit from working with you. 

OK fine, we’ve got some fun terms to play with. Now let’s put the concepts into perspective.

Targets = Six Key Situations

Your ability to recognize Targets that stare you in the face every day, yet continue to overlook, starts by setting your networking radar to alert you when you come across, or hear about, anyone in the Six Key Situations:

Getting Married
Having a Baby
Building a Business
Getting Healthy
Building/Buying a House
New In Town

Triggers = Questions

Terrific! Now you know what to look and listen for. What next? Pull the Trigger! Ask a Trigger question that will uncover a need and create a money making referral for someone on your Power Team.

Last time out we looked at 20 Questions which are specific Trigger questions to ask someone in the Getting Married Key Situation. Guess what? We’ve got 20 Questions for each of the Six Key Situations! That’s 120 money making referral opportunities you are probably missing on a regular basis. 

Bullets = Value

And finally, once a need is uncovered, your ability to hit the bulls eye with a powerful recommendation that consistently turns into business for your Power Team depends on how well you know your Power Team and how strongly you believe their business gives value to the prospect in the any of the Six Key Situations.

Find Target, Pull Trigger

As we said, the search for money making referrals begins by setting your networking radar on alert for the Six Key Situations. That’s your first task. But waiting around for someone to mention that they, or someone they know is getting married (or going through any one of the Six Key Situations) and then pulling a Trigger question is a slow draw. Too slow. Yes, you will occaissionally give some good referrals, but the idea is to give a lot of great referrals on an ongoing basis. 

Listen up: recognizing a referral opportunity is not about luck. It’s a skill. And it requires focus. As well as intention. Are you motivated to create high volume, high quality referrals for your Power Team? Yes? Here’s a secret: Opportunity is around the corner waiting to meet you! 

Two Big Triggers

So rather than sitting back, waiting for the Six Key Situations to cross your desk, be proactive and start searching. How? Talk to people and get in the habit of asking the following two “Big” Trigger questions in every conversation:

“What is your biggest challenge at the moment?”

“What is the next big event coming up for you?”

Whatever the other person says in reply will lead you to a referral opportunity. How well you play the role of Bragging Buddy for your Power Team will dictate the number and quality of money making referrals you generate. More on that some other time.

Right now I simply want you to commit the “Biggest Challenge” and “Next Big Event” Trigger questions to memory. Trust me: the two Big Triggers will transform your life as a Power Team networker!

In fact, they are so simple, and so powerful, I need to let the smoke clear so we can ask questions first and shoot bullets later, next time, when our adventure in networking continues… Follow Me on Twitter!

Opportunity Knocks Softly – Are You Listening?

 
Why are some people better networkers than others? Because they know more people? No, that’s not it. Being well connected certainly helps, but knowing tons of people does NOT automatically translate into tons of referrals. 

How about “people” people? You know the type, folks who strike up a conversation anytime, anywhere, with everybody they come in contact with, even if just for a minute. Nope! Confidence and the ability to talk to strangers increase the number of opportunities to create a referral, yet there are millions of great conversationalists who talk and talk, yet rarely, if ever, generate business for someone they know.

So if being well connected and the gift of gab are not guarantees of successful networking, what is the skill that separates people who create an ongoing stream of money making referrals from those who don’t? 

Simply put, great networkers see opportunity where others do not. In other words, they “connect the dots” others miss.

The First Dot

The first “dot” is recognizing that the person you are talking to has a “need.” Got a sore back? Talk to my friend the Chiropractor – he’s the best! Interested in building a custom home? I have a friend who is a great General Contractor, may I have him call you?

Unfortunately, most people consistently miss referral opportunities on a daily basis. Yes, they are trying to network, attending mixers and talking to people, but nothing ever seems to happen when it comes to creating business. Even in structured networking groups designed to build each other’s business, lots of folks fall short of the mark. 

Why? Failure to recognize opportunity. 

Wedding Example

A hapless networker is talking to someone who is planning a wedding. After asking when the wedding will be, or talking about how exciting it is to be getting married, and then exchanging “Wedding” experiences and stories, the networker fails to ask a few more questions to uncover a “need” which might be serviced by a business person they know. 

“Are you having any challenges at this stage of planning the wedding?”

“Are you going to buy a new house together or move into one of your current homes?”

“Have you updated your insurance and created a Will or Family Trust to protect your new spouse?”

The Second Dot

Great networkers are not only skilled at uncovering a prospect’s “needs,” they are also prepared to help by referring a variety of business people (people they like and trust) as the best person the Prospect could call for help with that particular need.

Connecting the Dots

But the big money isn’t created by simply recognizing opportunity and having a team of professionals from an assortment of businesses who provide a variety of goods and services. Great networkers take action, connecting the dots with an effective, enthusiastic and compelling recommendation, explaining to the prospect what makes the business person special, and why the prospect will benefit from working with your Power Team partner.

20 Questions

OK, enough concept and theory! Let’s get back to recognizing opportunity and uncovering a need. Here are 20 referral opportunities for your Power Team partners you might be overlooking (and the question to ask to uncover a need) when talking to someone who is planning a wedding:  

Attorney – Do you have a good Attorney to create a Will or Trust to protect your new spouse?
Auto Repair – Do you have a good mechanic you can trust to keep your family vehicles safe and reliable?
Cell Phones – Are you saving money with a combined Family Minutes rate plan?
Clean House – Do you have someone to clean the house before and after the Wedding?
CPA– Do you have a CPA you can trust for Tax Planning and Preparation as a married couple?
Errand/Delivery Service – Do you have someone you can count on to pick up groceries and run errands while you are busy with the Wedding?
Financial Planning – Do you have someone you can trust to help Invest for your retirement and a college fund if you decide to have children?
Furniture Sales – Do you know someone who can find furniture at a great price for the new household?
Insurance – Do you have a good Insurance Agent to protect your new spouse with Life, Health and Disability Insurance?
Interior Design – Do you have a Designer to help mix two houses of furniture?
Life Coach – Do you have a good Life Coach for Pre Marital Counseling?
Massage – Have you thought of giving a Gift Certificate for a Massage to the Bridal Party, Family or Bride and Groom?  
Mortgage – Do you know someone you can trust in the Mortgage business who can help you take some Equity out of your house to pay for the Wedding and Honeymoon?
Multi Media – Do you know someone who can take old photos of the Bride and Groom to create an entertaining and sentimental musical slideshow for the Wedding reception?
Nutritional Products – Do you have the best Nutritional Products to help you lose weight and feel great for the Wedding?
Personal Trainer – Do you know a Personal Trainer you can trust to help you lose weight and get in shape for the Wedding?
Pet & House Sitter – Do you have someone you can trust for Dog Walks and empty house visits when you are out of town on your honeymoon?
Realtor—Is this the right time to sell or rent one or both houses and buy one together?
Security System – Do you have a home Security System to protect your family?
Travel Agent – Do you have a good Travel Agent to help make recommendations, plans and reservations for the honeymoon?

Whew… that’s a lot of questions! No worries: next time out I will give you the TWO most important questions Power Team networkers must use in every conversation to create an abundance of money making referrals, when our adventure in networking continues… Follow Me On Twitter!

More than Money (part 2)

Last time out we left you wondering: “How do I make money when one of my Power Team partners talks to another person and the conversation turns to someone who is getting married?”

 

The answer? Let’s start with the concept of money. As in, making money. Regardless of the business you are in, we are talking about making money by doing more, or better, business.  

 

We’ve all heard the old saying, “it takes money to make money.” I am here to tell you that this classic cliché is in fact, only partially true. Sure, with enough cash, you can pay as many people, or buy as many ads, as it takes to build sales volume. But the expense has risk. Too often, businesses spend more on marketing and advertising than they get back in increased sales!

 

What Else Is there?

 

No way around it – we all need people who keep their eyes and ears open on a daily basis, eagerly searching for opportunities to refer business our way. And the more people the better. Face it: word-of-mouth networking works!

 

But is the motivation there? Do other people care enough about your business to keep your interests top of mind?

 

Like it or not, there are only a few basic ways of motivating people to help build your business. And it’s not complicated. Motivation almost always comes down to money. Either directly or indirectly. Sure, recognition is huge, and fear of loss is not to be overlooked, but with the exception of mom and a golden angel, most people will not work to build your business without compensation in the form of money.

 

Let me repeat. From the hourly wage of an entry level worker to executive salaries with a year end bonus and stock options, monetary compensation is motivation in the business world. And the more people motivated to help build your business, the faster your business will grow.

 

Paying Your Sales Force

 

OK, fine. We all agree: motivating other people to help build your business ultimately boils down to money. But where’s all this money going to come from? Relax, I’m not going to ask you for the money… let’s use other peoples’ money to compensate your sales force!

 

Sounds good, but how can you use other peoples’ money like that? Answer: understand that your Power Team IS your sales force and you pay them by systematically directing other peoples’ purchasing power to their products and services.
 
Let me beat a dead horse here: make money for your networking partners by creating quality, money making referrals for them, and in turn, they will send paying customers to you!

 

It’s an old concept. “What comes around go around,” “Good Karma,” and Dr. Misner’s “Givers Gain®” are all ways of saying: “help others first and they will help you in return.

“How Much Is Enough?

OK, I hear you. You ARE giving referrals. Got it. I am going to show you how to give a lot more referrals, and not only more, but better, higher quality money making referrals! 

How? By helping you recognize opportunities to build the businesses of your hand selected Power Team of networking partners, and in turn, train them to create business for you by finding people in the Key Situations your business thrives on. 

Example: Weddings create a huge opportunity to GIVE referrals. You just need to know how the different people and businesses on your Power Team can provide a valuable product or service to the couple going through the “Getting Married” Key Situation. Make the same sort of connections for all Six Key Situations and your referral productivity will skyrocket!

Next time out, 20 surprising “Getting Married” referral opportunities for a wide variety of Power Team businesses you may currently be overlooking, when our adventure in networking continues… Follow Me on Twitter!

More than Money – Part 1

Six Key Situations

 

Imagine yourself sitting at a desk. You are looking at a computer screen flashing short videos of two people talking. Although one person changes each time, the other person is always dressed in a Superman suit, complete with bright blue tights and a flowing red cape. Notice however that instead of a big “S” on his chest, there is a big “PT.”

 

The “PT” stands for Power Team and the person in the video wearing the Superman suit is your Power Team partner. Each 30 second video shows your Power Team partner chatting with a random person. Guess what? Your Power Team partner is prospecting for you!

The scenes are random and vary from waiting room chit chat at a Doctor’s office or Grocery Store line, to Chamber of Commerce press-the-flesh sessions and Industry Trade Shows. You are simply watching and listening as the two people talk.  

Now look at the computer keyboard. Across the top are six new keys you have never seen before! The first is dark green like the color of money and the size of a Silver Dollar. It is labeled “Getting Married.” Each of the other five keys are the same size but different colors.  

Imagine how great it would be if you could make money by hitting the green “Getting Married” key every time the topic of conversation on the computer screen turned to someone getting married. That’s it! As soon as the prospect talking to your Power Team partner says they, or someone they know, is getting married, you hit the key and CaChing – you get paid! 

Five More Hot Buttons 

It gets better! The other five keys are labeled:  

New Baby
Building a Business
Get Healthy
New in Town
Building/Improving a House

Every time the topic of conversation indicates that the prospect, or someone they know, is experiencing one these Six Key Situations, you hit the correct key and once again CaChing – you get paid!

Pick Your Team

Remember, you pick the people and businesses on your Power Team. Knowing you can hit the “Getting Married” button and get paid, it makes sense for you to start networking with people at a Tuxedo Shop. Or a Caterer, Florist, Event Planner, Photographer… you get the idea! 

OK, stay with me. Suspend your subconscious mind from wondering about what weddings have to do with you making money. We will get there. Trust me. But for now I want you to think about getting paid from conversations involving people buying/building or improving a home or building of any type.

Let me rephrase that. Regardless of what business you are in, when a prospect talks to your Power Team partner about someone they know in any of the Six Key Situations, you get paid. In this particular case, you would start networking with a Realtor, Interior Designer, Mortgage Officer, Architect, and Furniture Salesperson. Right? 

Confused on how you are going to get paid from your Power Team talking to people about weddings, houses and the other Key Situations which may or may not have anything to do (or so it appears at the moment…) with your current business? Stick with me – we’ll get there. Soon. Very soon. In fact, I’ll get started right now on Part 2 and will post it next time, when our adventure in networking continues… Follow Me on Twitter!