Sudden Impact – Beyond Hot Referrals

by Lee Abraham

Everyone loves a hot referral. On the receiving end it’s called money in the bank… Ca-CHING! For the giver, it’s more of a feeling. A warm and fuzzy tingle you get every time your networking efforts help build the business of someone you like and trust. Not to mention, a networking partner who is helping build your business in return.  

Two words: “Givers Gain®!”

Coined by Dr. Ivan Misner, founder of BNI (Business Network Int’l), the world’s largest business network, Givers Gain® is BNI’s philosophy of helping others first and then benefiting in return.

That said, hot referrals are great for both the giver and receiver. And yeah, as a result, everybody around the networking table walks away viewing you with a little more Credibility. But if you really want to rock the house and lift the energy of every single person in the room, bring a Visitor to the meeting!

Inviting Visitors 101 – Invite Visitors to VISIT, not join your group

Obviously, the primary reason you invite visitors to your networking meeting is to grow the group. Even a group that is productive at its current size needs to have a steady flow of Visitors simply to cover the natural attrition of losing people due to relocation, downsizing, changing careers or not renewing membership for some other reason.

Plus, even Visitors who do not submit an application to join your network are likely to do business with someone in the group. Studies show each Visitor does an average of $2,500 with one or more people in the group whether they join or not. 

Most important: A Visitor brings fresh energy and even if the other members aren’t consciously aware of it, everyone becomes a bit more animated. During Open Networking at the start of the meeting, every Visitor is a potential customer for each member of the group. The sense of new opportunity impacts everyone in attendance. And as the person who invited the Visitor, your VCP skyrockets! 

In short, Visitors are the lifeblood of a weekly networking meeting. Your ability to attract Visitors to the meeting plays a major role in your VCP with the other members, and in turn, the benefit you get out of the group. 

What to Say

Good news! Everyone can be successful at bringing Visitors to the meeting. Keep it simple and you’ll do fine. Here are a few basic tips to increase your results: 

1) Avoid creating obstacles that get in the way of someone who might otherwise visit your meeting. Top of the list: suggesting they consider joining. It’s counterproductive.  All the suggestion does is trigger questions of “How much does it cost to join” and “What’s the commitment?” Not good for your Visitor to Invitation ratio!

Let me repeat: Invite Visitors to Visit, not Join your group.

Why? Less pressure and greater probability of success. Trust me, run a good meeting and it will sell itself. Your job is to get the Visitor to the meeting. If joining is a good idea, Visitors will see it on their own. 

2) When Inviting, sing the group’s praises, tell the potential Visitor about how great the networking group is for your business and that you would love for them to see how it works. 

3) Tell the prospect about other business categories and people in the group who would likely be a good connection based on Contact Spheres and Power Teams.

For example, if the prospect is a Home Inspector, they would be interested to meet the Realtor, Mortgage and Insurance person in the group. A Photographer would love to be introduced to your Florist, Caterer and Event Planner. Capiche? Click here for a post on Contact Spheres and Power Teams.

4) Ask the Visitor to bring a stack of business cards and be ready to connect with a room full of your networking partners, people who might become a source of referrals for them. 

5) When inviting let the prospect know that there is no cost or obligation to visit, other than maybe a room or meal charge if you have one. Most structured networking groups allow Visitors to sit in on two meetings and then ask the newbie to either submit an application for membership or quit freeloading. 

More Than What You Say, It’s How You Say It

Best practice: be excited, show enthusiasm and speak from first hand experience. What do you enjoy most about the meeting? Talk about how your networking group has benefited you and your business. What business categories might be natural networking partners for the Visitor?

If you genuinely feel great about your group, the person you are talking with will feel it too. And like it or not, we make decisions based on emotion. Be smart. Tap into your positive feelings. Use your emotional energy to direct that quirky thing called “human nature” to your advantage.

I see the look of determination on your face. You are ready to take the bull by the horns and start inviting like never before. The problem? You aren’t sure who to talk to. Got it! Join us next time when we look into who you should invite to your networking meeting and why, when our adventure in networking continues… Follow me on Twitter!

Sub Sandwich – More Bread, Any Way You Slice It

 

by Lee Abraham

 

Last time out we looked at the importance of making a commitment to attend your networking group’s weekly meeting. Not just to blindly follow rules, but to build strong, meaningful relationships with your networking partners that lead to giving and receiving an ongoing stream of money making referrals.

 

So what happens when you really can’t make the meeting? Glad you asked!

 

Basic Etiquette 106 – Have a substitute represent you at networking meetings you can’t attend.

 

The first benefit of having a “Sub” is obvious: it demonstrates your commitment to the group. In networking terms, having someone represent your business keeps your Visibility intact and moves you toward Credibility, showing your networking partners some of the people from your world.

 

So far, so good. But there’s more to having a productive Sub than just lining up a warm body sit in your chair. For starters, you want to have a Sub who makes you look good.

 

Remember when we focused on how everything you do or say factors into your Personal Brand with other people, including your networking partners? Understand that substitutes are an extension of you. What they do and say will contribute to where your networking partners place you in the VCP Process®.

So let’s put the pieces of the Sub puzzle together with a few important key points:.

1) Who should sub? Someone from your company is a great place to start. A co-worker, boss, employee or anyone else affiliated in some way with your business is an obvious choice. Other prime candidates include anyone who can speak from first hand experience about what a great person you are. 

2) Sub’s Goal: to help the other members of the group like and trust you by sharing the story of a compelling, first hand experience with you. 

Although counter intuitive, specific and detailed knowledge of your products and services is NOT necessary for an effective Sub. Sure, the ability to speak intelligently about your business is a good thing, but only a bonus. 

The most elusive and valuable element of the VCP Process® is the underlying emotion your networking partners bring to the table as your “Bragging Buddy” when talking to prospects on your behalf and creating referrals for you. Having a Sub who can speak first hand about what makes YOU special is the best type of Sub you can find!

3) No Compete: Be sure your Sub does not promote anything that competes with a current member of your group.

4) Prep Work: Make sure your Sub is well prepared by explaining the two parts of the meeting when they will need to speak: Giving your Sales Force Update to the group and Passing Referrals to other members.

Be specific in prepping your Sub. Outline how to tell the group about the type of referral you are looking for this week and encourage the Sub to share their own, warm and fuzzy first hand experience with you.

As for referrals, give your Sub any Referral Slips you have for the week to pass to your networking partners in your absence. This is much more powerful than the Sub simply showing up and saying they don’t know if you had any referrals this week or not.

Bonus Points: A Super Sub passes a money making referral of their own, either as a customer, or for someone they know who can do business with one of your networking partners.

5) Plan Ahead: Arrange for a Substitute BEFORE YOU NEED IT! Don’t wait until the last minute to line up a Sub, particularly when you know in advance that you will not be able to make a meeting. There are very few good excuses to not have a Sub. Yes, emergencies pop up at the last minute and sometimes it is truly impossible to make the meeting or find a Sub on short notice. No worries. It happens. 

But as the old cliché says, “Failing to plan is planning to fail.” And perhaps more than any other way to go beyond simply planning, is to create your own success by showing commitment to your networking group and having a great Sub represent at you at a meeting you can’t attend. 

Want to jump start your VCP? Join us next time when we step onstage and under the bright lights as a referral rock star, successfully inviting Visitors and cranking up the volume at your networking meeting, when our adventure in networking continues… Follow me on Twitter!

Weekly Meeting: Networking or Not Working?

 

by Lee Abraham

 

I’ll admit it. It took me a while to figure out this networking thing. Especially the value of meeting with other people face to face. Here’s the story. Way back in the mid ‘90s I was invited to join BNI (Business Network Int’l), a structured networking group to help grow my business. I was intrigued. And then I was told the group got together once a week to pass referrals.

 

At the time, I owned a Real Estate Appraisal company in Las Vegas and was busier than Ryan Seacrest on American Idol’s “Elimination Night.” Let’s just say I had my hands full with a few difficult and colorful authority figures (Loan Officers instead of judges) and other peoples’ desperate situations (Borrowers rather than contestants).

 

And although I had more work than I knew what to do with, I was changing my Target Market from the oppressive management style (“hit” the value or we stop sending you work) of the Banks and Mortgages Companies to the more intellectually rewarding practice of appraising for Lawyers and serving as an Expert Witness on a variety of Real Estate related lawsuits.

 

Bottom line: I needed help reaching out to the legal community to expand my client base. And the person who invited me to join BNI was one of the top Real Estate Attorneys in town. Can you say: mixed emotions? Yes, I liked the idea of networking, and I really wanted to build a relationship with this Attorney, but it was the once a week meeting that rubbed me the wrong way.

 

Admission of guilt: I didn’t see the point of getting together so often. After all, if I had something to say to someone in the group I could just call ‘em up and take care of business… right? Wrong! Motivated but under duress, I went through the motions. Guess what? The emotions followed. And so did the referrals!

 

Basic Etiquette 105 – Attendance at weekly networking meetings are critical to benefiting from a structured networking group.

 

Let’s face it, a lot of people expect to join a networking group, show up, tell the members about their business and then sit back and watch the referrals fly in. Sorry to burst your bubble, but success in networking requires time and energy. Why? Networking is all about relationships. Plain and simple. And nothing builds a relationship better than face to face interaction.

 

VCP Process®

 

Your first goal in a structured networking group is to achieve Visibility: people know who you are and what you do. From Visibility you reach for Credibility: people know you are good at what you do. And finally, the ultimate goal is Profitability: people send you business because they like you, trust you, and know you will make them look good in the eyes of the person they referred to you.

 

Coined by Dr. Ivan Misner, founder of BNI, these three stages of relationships among networking partners is known as the VCP Process®.

 

Trust me, you will not achieve VCP with your networking partners by sitting in your office on the phone and internet all day. If you are serious about building a referral network to grow your business, you need to invest time and develop relationships getting to know, like and trust your networking partners. Oh yeah, they need to get to know, like and trust you as well!

 

Don’t have the time? Let me ask you this. If your very best client asked to meet with you once a week as a prerequisite to sending you an ongoing stream of business would you find time? I’m betting you would. Write this down: Treat your networking group as your best client and it will be!

 

Build a Bridge, Get Over It

 

OK fine, I hear you. You just can’t make every single meeting. From vacations and business trips to your child’s first Piano Recital and medical emergencies, life happens. Hey, get over it! Everybody’s got life happening, not just you. Like a wise man once said, “It’s not what happens in life that makes you successful, it’s how you respond.”

 

Let’s cut to the chase. We are talking about priorities and levels of commitment. Nobody expects you to be at every single meeting. That would be unrealistic. The answer? Find out next time with our discussion of having a substitute represent you at meetings you can’t attend, when our adventure in networking continues… Follow me on Twitter!

Show Up, Look Good and Be Sharp – 3 Keys to Success at Networking Meetings (part 2)

 

by Lee Abraham

 

Diversity is good. Particularly in networking. The wider variety of business categories, as well as age, ethnicity and just about any other demographic variable, including a balance of both men and women, the stronger the network and further its reach.

 

Other factors, including dress and appearance, require a delicate balance between diversity and minimum standards. And therein lies the rub. Why? Opinions on dress and appearance, particularly our own, can be very subjective.

 

Basic Etiquette 103 – Dress to Meet or Exceed Expectations For Your Occupation.

 

The operative phrase is “expectations for your occupation.”

 

Someone representing a Carpet Cleaning business is perfectly professional in a nice pair of shorts and short sleeve, company logo shirt. On the other hand, an Attorney or CPA is expected to look like a “business” professional, decked out in a suit or some other, equally natty attire.

 

Should be simple, right? Listen. Anyone who has been involved in structured networking for any length of time can tell you a story about the slob who used to be in their group, and how that person never ceased to amaze with a sloppy appearance and counterproductive self image.

 

Do yourself and the rest of the group a favor: do not be that person. Let’s face it, you only have one chance to make a good first impression and you never know who you will meet at a networking meeting!

Rationalizing a too causal look with “Well, everybody there already knows me,” or “I don’t have any other appointments after the meeting, so why bother?” is the teetering point of good and bad decision making. Unlike too many things in life and business, you have control over what you wear and how you look. Take advantage of the opportunity. Don’t be lazy, be sharp!

Basic Etiquette 104 – Be Prepared to Train Your Sales Force

Getting the most out of a networking meeting is in a large part due to preparation. Some of the essentials are your business cards and any promotional material you’d like to use. 

Most importantly though, be prepared to clearly train the rest of the group, your “Sales Force,” to recognize your Target Market for this week and what to tell the prospect on your behalf. 

Waiting for the last minute to figure out your weekly Target Market and how to quickly train the group to find it for you, begs repeating of an old cliché: “Failing to plan is planning to fail.” ‘Nuff said!

Sure, there are many other details you can prepare each week to maximize your results from structured networking. We are going to look at two of the most important, regular attendance, as well as finding, training and rewarding a substitute “Bragging Buddy” to fill in at meetings you can’t attend, next time, when our adventure in networking continues… Follow Me on Twitter!

Twitter Success Formula: RT x @ (Twitter) = VCP (BNI)?

 

by Lee Abraham

Last time out, we looked into the three stages of a networking relationship: Visibility, Credibility and Profitability. Coined by Dr. Ivan Misner, founder of BNI (Business Network Int’l) and world’s leading networking guru, the “VCP Process®” wraps the multi faceted and time consuming evolution of relationships from unknown stranger to trusted networking partner into a simple, easy to use formula.

Visibility – People know who you are and what you do

Credibility – People know you are reliable and good at what you do

Profitability – People send you business because they like you, trust you and know you will make them look good in eyes of people they refer to you.

VCP Online?

Old school networkers are sometimes labeled “hunters,” notching their well worn money belt for each business card collected and cold call made. And in many cases, the stereotype is warranted. Truth is, a lot of well intended and hard working entrepreneurs view business simply as a big numbers game: the more people they pitch, the more chances of hitting a home run. 

And that’s why the internet is so attractive. Networking online has huge upside for massive, international exposure at little or no cost. Blend in the potential for “Viral Growth” of your message, people telling other people, and you’ve got Word-of-mouth networking on steroids. At least on the surface.

From You Tube and Facebook, to Linkedin and Twitter, the internet has leveled the marketing playing field. Visibility to a huge audience is more possible than ever before. But here’s the rub, while the internet is very effective for Visibility, how the heck can you reach Credibility, and ultimately Profitability, with people you’ve never met, and in some cases, have never even spoken to? 

Be Present

A well rounded online presence usually includes at least two, and often several more, of the most popular Social Networking websites. For starters, a profile on Linkedin or Ecademy is the cyber foundation needed to build a business network online. 

Viewed as professionalism and core competence, if you don’t have a profile online, (OK, let’s include the more social and less professional Facebook as well), you are facing a credibility challenge with your online Target Market. Call it the age of “information entitlement.” People expect to see your face, know a little about your background and experience, as well as how to contact you, so they can check you out further if they choose.

Next, a website or blog to showcase you and your work is also a must. Coupled with a Profile, a webpage rounds out the information on your company, products and services, as well as offering a glimpse into your personality and business philosophy.  

Are You Smelling What I’m Stepping In? 

Profile and webpage in place, you are now ready for marketing and promotion. Like a restaurant and customers, your internet presence only serves a purpose if the people in your Target Market visit to sample the goods. And we all know getting people to do anything is a challenge. 

Enter Twitter. A Visibility machine, Twitter is a mass text messaging service where you send updates to ‘Followers” who “Opt In.” Let me reiterate: Followers choose to follow your footsteps, and in the bargain, smell what you step in. At least online. 

And because they’ve chosen to receive your updates, Followers are more receptive to directives, particularly if they are easy and non threatening. Like clicking a link to your latest blog post, for example. 

In other words, Twitter is a broadcasting mechanism for your Personal Brand, enabling you to communicate efficiently and effectively with the network you’ve built. Got something to say? Step up toward Visibility and start Tweeting!

Join the Conversation

Standing on your Twitter soapbox is an easy way to “join the conversation.” To play on the game board. To star in your own movie. Whatever the metaphor, the act of participating, engaging, and ultimately communicating with other people moves you and your Personal Brand from Visibility to Credibility.

Some of the most common types of Tweets include:

What you are doing

What you think

News

Cool links

Don’t take this personally, but people only care about what you are doing if they admire you, want something from you, are responsible for you, or love you. Otherwise, you need to be doing something extremely interesting for people to care. 

Advice: save the updates on the bagel and lox you had for breakfast and that funny story of getting grossed out by the dirty nose of a person sitting next to you on a plane, for your memoirs. OK, once in a while go ahead and show a little flair with an American Idol pick or the overtime score of your favorite hoop squad, fine, but generally speaking, keep the personal byplay down to a minimum until you’ve got a ‘Following’ that cares.

What Were You Thinking?

What you think is another story. Please tell us what you think. Of course what you are thinking about, and how well you articulate the vision, will dictate if we care. Generally speaking, if you have a thought you think is interesting, share it. Chances are good some folks will agree that you’ve got something valuable to say.

For the less creative among us, Tweeting links to useful or fun websites, as well as news articles, inspirational quotes, jokes or photos you find interesting, are great ways to provide value to the people following you. 

Even better, be a Twitter Journalist, reporting first hand on events and news you are involved in or find yourself in the middle of. Now that’s interesting! People living vicariously through your experiences which they would otherwise never be exposed to (bagels and boogers NOT included) is the stuff that explodes viral growth of your Personal Brand.

Visibility in Action

Subtle point: everyone Following you sees your @replies. So even if you are replying to someone they’ve never heard of, your peeps see you working, and you gain big “V” in the process!

Interacting on Twitter starts with a reply (@reply) to something someone Tweets. Sharing a similar experience, congratulating an achievement, agreeing or disagreeing on an opinion, or whatever, as long as you are interacting, you are working toward Visibility when you reply to another Tweeter. 

Let’s crank it up a notch. Did you find someone’s Tweet informative or valuable? Share it with your Followers by “Re-Tweeting” (RT) the message.

A good RT has two benefits. Not only will you enjoy increased Visibility with your Followers who appreciate the value you bring to the conversation with an interesting RT, but you jump start Visibility and instantly move toward Credibility with the person whose message you RT. After all, you are helping the original Tweeter leverage their efforts, and as a part of their promotional network you become valuable to them. 

RT x @replies = C

A good sign that you are gaining Visibility on Twitter is other people replying to your updates. Other Tweeters are obviously taking note of what you are saying and have something to add. Nice!

And you know you are navigating the tightrope toward Credibility when other people “Re-Tweet” (RT) your updates. In other words, they like what you have to say and pass along your message and contact info to all the people following them. And if some of those people do the same, now you’ve got the Viral word-of-mouth campaign that lures millions of business people online every day.

Two words: Give Value. The more “@replies” and RT’s you Tweet, the more people you are interacting with and the greater the chance of those people caring about what you have to say and Re-Tweeting it. And the more RTs you get, the greater your Visibility and Credibility. At least on Twitter. 

Next time, we stretch the VCP limit to reach Profitability online with people you’ve never met, when our adventure in networking continues… Follow me on Twitter!  

There is No “I” in “VCP” – Networking Relationships and the VCP Process®

by Dr. Ivan Misner & Lee Abraham

 

Walk up to a stranger, introduce yourself and dive right into your best sales pitch for the product or service your business provides. Now try to close the deal. That’s right. No time for research or due diligence, just ask for a leap of faith to do business right then and there.

 

I see you shaking your head and frowning. Hey, we both know it’s not going to happen. OK, let me rephrase that. Yes, one in 500 might do business with you, but unless you are selling food to the hungry or trinkets to a tourist, it’s going to take a little time to seal the deal.

 

Generally speaking, people don’t take kindly to a sales pitch from a stranger. Call it “Invisibility.” There are way too many choices for consumers in our wired up world of information to do business with someone we know nothing about.

 

Bottom line: business is all about relationships. The deeper the better. And it doesn’t matter what type of business you are in. Your networks for information, support, and referrals will drive your success, and those networks are based on your relationships with other individuals and businesses. 

 

Money Making Relationships

 

Power Team networking develops deeper and stronger relationships by focusing on a mutual benefit for both parties: making money!

 

And there are many different types of relationships involved. Among the most important are those with your Power Team partners or “Bragging Buddies,” as well as with prospects these referral sources bring you, and with customers you recruit from the prospects. 

 

VCP Process®

 

Obviously, relationships don’t just appear from invisibility, they must be nurtured. As they grow, fed by mutual trust and shared benefits, relationships evolve through three phases: visibility, credibility, and profitability.  We call this evolution the VCP Process^®.

 

Any successful relationship, whether a personal or a business relationship, is unique to every pair of individuals, and it evolves over time. It starts out tentative, fragile, full of unfulfilled possibilities and expectations. It grows stronger with experience and familiarity.  It matures into trust and commitment. 

 

The VCP Process® describes the process of creation, growth, and strengthening of business, professional, and personal relationships; it is useful for assessing the status of a relationship and where it fits in the process of getting referrals. It can be used to nurture the growth of an effective and rewarding relationship with a prospective friend, client, co-worker, vendor, colleague, or family member. When fully realized, such a relationship is mutually rewarding and thus self-perpetuating.

 

Visibility

 

The first phase of growing a relationship is visibility: you and another individual become aware of each other. In business terms, a potential source of referrals or a potential customer becomes aware of the nature of your business – perhaps because of your public relations and advertising efforts, or perhaps through someone you both know.

This person may observe you in the act of conducting business or relating with the people around you. The two of you begin to communicate and establish links – perhaps a question or two over the phone about product availability. You may become personally acquainted and work on a first-name basis, but you know little about each other.

A combination of many such relationships forms a casual-contact network, a sort of de facto association based on one or more shared interests.The visibility phase is important because it creates recognition and awareness. The greater your visibility, the more widely known you will be, the more information you will obtain about others, the more opportunities you will be exposed to, and the greater your chances of being accepted by other individuals or groups as someone to whom they can or should refer business. Visibility must be actively maintained and developed; without it, you cannot move on to the next level, credibility.

Credibility

Credibility is the quality of being reliable, worthy of confidence. Once you and your new acquaintance begin to form expectations of each other – and the expectations are fulfilled – your relationship can enter the credibility stage.  If each person is confident of gaining satisfaction from the relationship, then it will continue to strengthen. 

Credibility grows when appointments are kept, promises are acted upon, facts are verified, services are rendered. The old saying that results speak louder than words is true. This is very important.  Failure to live up to expectations – to keep both explicit and implicit promises – can kill a budding relationship before it breaks through the ground and can create visibility of a kind you don’t want.

To determine how credible you are, people often turn to third parties. They ask someone they know who has known you longer, perhaps done business with you.  Will she vouch for you?  Are you honest?  Are your products and services effective?  Are you someone who can be counted on in a crunch?

Profitability and Time

Mature relationships, whether business or personal, can be defined in terms of “profitability.” Is it mutually rewarding? Do both partners gain satisfaction from it? Does it maintain itself by providing benefits to both? If it doesn’t profit both partners to keep it going, it probably will not endure.

The time it takes to pass through the phases of a developing relationship is highly variable. In a time of urgent need, you and a client may proceed from visibility to credibility overnight. It’s not always easy to determine when profitability has been achieved – a week? a month? one year?  

Profitability may happen quickly, or it may take years – most likely, somewhere in between. It depends on the frequency and quality of the contacts, and especially on the desire of both parties to move the relationship forward.

However long it takes, when you have established an effective referral-generation system, you will have entered the profitability stage of your relationships with many people – the people who send you referrals and the customers you recruit as a result!

Next time out we explore the VCP Process and networking online with Twitter, Linkedin and other social media, when our adventure in networking continues… Follow me on Twitter!

MLM and Golden Goose Referrals

 

by Lee Abraham

 

Regardless of business category, successful networking is all about training your Power Team to recognize prospects and seize opportunity to create money making referrals for your business. 

 

And that includes MLM. But here’s the catch. Although everyone knows MLM’ers make more money by promoting the business opportunity than the actual products, the MLM’er must first build Credibility with the group based on the products in the Power Team framework

 

Listen, I know MLM’ers want to jump straight into the business opportunity. Trust me, I get it. As the relationship blossoms, training your networking partners to bring prospects for your business opportunity is the logical next step. But it takes time and energy to get there. And we’re not there yet.

 

Like it or not, we’ve got another level of product based networking to discuss before we even think about serving up the business opportunity to our Power Team.

 

Golden Goose Two Step

 

Last time out we looked at Power Team networking from the vantage point of an MLM’er in the Nutritional Products business. Using Key Match Networking© we connected benefits of the nutritional products to the Consumer/End User in each of the Six Key Target Markets the Power Team is already trained to recognize and convert into business.

 

In other words, we’ve already trained the Power Team to be a “Bragging Buddy” for the Nutritional Product business whenever they come in contact with someone who is Getting Married, Having a Baby, Getting Healthy, etc.

 

Now let’s raise the connection to another level, matching a “Golden Goose” Referral Source to each of the Six Key Target Markets. Think about it. If you want the Power Team to bring prospects who are Getting Healthy, you would love your networking partners to create referral relationships for you with other businesses that also thrive on the Get Healthy Target Market. For example, a Personal Trainer working with people who are trying to get in shape.

 

Target Your Target Market

 

Both the Nutritional Products person and the Personal Trainer will benefit from networking strategically together because they are both dealing with people in the Get Healthy Target Market. It’s an obvious connection.

 

Both can work for the same client, and compliment the other’s product or service, without competing against each other. And for those of you taking notes, both are in the Health and Wellness Contact Sphere. Confused? Read this post on Contact Spheres.

 

Face it: businesses from the same Contact Sphere are the low hanging fruit of networking. Not bad, just easy. And easy is good. So good, we always start building our Power Team with other business categories from our own Contact Sphere.

 

But the ultimate goal of Power Team networking is to recognize less obvious, and potentially more powerful relationships between businesses that appear to have nothing on common.

 

Quick examples:

 

Caterers (Events Contact Sphere) and Life Insurance Sales (Finance Contact Sphere) can both provide a valuable product or service to the “Getting Married” Target Market.

 

Printers (Business Services Contact Sphere) and Pet Sitters (Personal Services Contact Sphere) can both provide a valuable product or service to the “Business Builder” Target Market.

 

Your job: Power Team Investigator. Dig beneath the surface and beyond the obvious. Challenge yourself to carefully examine each business in your network to work your way through features and benefits until you form a clear picture of the Target Market the other businesses serve. You will be amazed at the connections you find to your business!

 

Need more information? Click here for a post on Key Match Networking© between Contact Spheres.

 

Target the Golden Goose

 

OK, enough table setting. Let’s get to it, shall we? Take out your notebook and write down these three easy to follow action steps:

 

1) Learn your Key Target Markets

2) Train your Power Team to recognize End Users/Consumers for your Target Markets

3) Go beyond End Users and train the Power Team to recognize Golden Goose Referral sources for your Target Markets

 

I’ll make it easy for you. Here’s an entry level chart showing six of the most common Golden Geese for each of the Six Key Target Markets.

Can You Feel It?

As much sense as this Target Market stuff makes intellectually, the Power Team system only works at this advanced level when networking partners have an emotional investment in each other. Call it “chemistry.” Or the “X Factor.” More than friendship and trust, when two people “click” and really care about each others’ best interests, the opportunities to create money making referrals magically begin to appear everywhere they go, and wherever they look. 

 MLM’ers, hoist your “Biz Op” flag and your buckle up your money belts! Next time, we look back fondly on the smooth sailing of product promotion and fearlessly travel into rough waters, training the Power Team to bring referrals for your business opportunity, when our adventure in networking continues… Follow Me on Twitter!

MLM – Healthy Habits for Nutritional Supplements

 

by Lee Abraham

 

Dave the Nutrition guy took an indirect route into MLM. For him, the journey began with the products. A health nut who witnessed his Mom turn around a serious medical condition with the help of nutritional supplements, skepticism was not an issue. Dave didn’t need to be convinced. Or read the literature. He knew the products worked because he saw the positive results with his own eyes. That’s called “belief.”

 

Dave’s belief was so strong, he started telling people the story of his Mom’s recovery and found himself recommending the same products to anyone who would listen. And a few did. Those people came back with great reports of their own health benefits and a light went on in his Dave’s head. “I wonder if I could make some money doing this?”

 

Learn To Earn

 

A couple of years later on a particualrly nice day, Dave the Nutrition guy sat out on the rear observation deck of his luxury home, looked out over his panoramic Ocean view, and reflected on the joys of leveraged, residual income. Yes, it took longer than he expected, and more personal development than he planned for, but the results justified the process.

 

Dave realized the vast majority of his business came directly from prospects referred by his Power Team, people already pre-sold on the benefits of the nutritional supplements he represented.

 

With a team of “Bragging Buddies” speaking enthusiastically on Dave’s behalf to people they already knew, business was so much easier than finding each customer on his own. No mystery. Prospects already liked and trusted Dave before they even met him based on heartfelt, enthusiastic recommendations, and were open to his products after hearing the compelling story of his Mom’s dramatic health turn around from someone they already knew and trusted.

 

Recognize Opportunity to Help You

 

While closing deals was a no brainer, training his Power Team to recognize prospects for him was more of challenge. At least at first. And then Dave went through the Power Team training. Suddenly his networking partners began recognizing prospects for Dave’s nutrition business and creating money making referrals they had previously been overlooking.

 

The secret: training his networking partners to connect the benefit of his nutrition products to the Six Key Target Markets the group was already looking for. Confused? Check out this prior post explaining this Power Team “Opportunity Recognition” technique.

 

Six Healthy Situations

 

Getting the most out of the Power Team starts by training your networking partners to recognize prospects for your business and the opportunity to create referrals for you.

 

Gather round. Here’s the story of how Dave the Nutrition guy tapped into the Power Team “Six Key Situation” system to build his business. Each week at his networking meeting, or when he met individually with someone from the Power Team, Dave explained the best way to find referrals for him by describing a prospect in one of the Six Key Situations.

 

Remember, the Power Team has already been trained to recognize the Six Key Situations and then use the “Two Big Trigger” questions to uncover needs which can be converted into a money making referral for someone on the Power Team. Confused? Click here to read a post on this topic 

 

That being said, Dave the Nutrition guy always starts the same way: “If you see an opportunity when you come across someone who is…”

 

“Getting Married, tell the happy couple how they can lose weight and look great for the wedding and honeymoon with proper nutrition and our healthy meal replacement system!”

 

“Having a Baby, tell the new Mom about our awesome Pre-Natal Vitamins for her and our proper nutrition products specifically designed for babies!”

 

“Building a Business, tell the business person they will have more energy and metal clarity with proper nutrition, as well our healthy, quick and easy meal replacements for people on the run!”

 

“Getting Healthy, tell the person getting in shape that we have Award Winning Nutritional Supplements to speed recovery while promoting optimal health with wide variety of products for losing weight and other specific health challenges!”

 

“Building a Home, tell the home builder that they will have more energy and mental clarity to do a good job and make fewer mistakes with proper nutrition from our award winning supplements!”

 

“New In Town, tell everyone you meet about our Award Winning Nutritional Supplements specially designed for adults and children, as well as a variety of products for specific health challenges!”

 

Four Out of Six Ain’t Bad

 

Granted, the last two examples, “Building a Home” and “New in Town” are a bit of a stretch as Target Markets for Nutrition Sales, but hey, you never know. If opportunity presents itself, at least the Power Team will know how to tie good nutritional supplements into a conversation with relocation transplants and home builders.

 

But let’s look at the glass half full. Or in this case, two thirds full. Focused primarily on the four Target Markets that work best for the nutrition business, Dave always continued training his networking partners with a short, simple real life success story and example of how his products helped someone in those Key Situations. And here’s the extra training step that made all the difference in the world: he specifically asked his Bragging Buddies to remember the story and tell it to prospects.

 

Plus, Dave went the extra mile to create money making referrals for everyone else, motivating his Power Team to keep his best interests in mind. Above all else, Dave learned that creating business for his Power Team was the first step in building a rewarding relationship with his networking partners.

 

Profitability Ahead

 

Up to this point, we’ve talked about training your Power Team to be a Sales Force for your Nutritional Products. And that’s where you should start. Remember, you are building Credibility with the group, and until you reach that level of trust with the products, people will not promote your business opportunity. 

 

Next time however, hang on tight, we’re stepping into the FAST180 time machine, flashing forward beyond Credibility into a not-too-distant future of Profitability and “Biz Opp” referrals, when our adventure in networking continues… Follow Me on Twitter!

MLM – Make “Lifestyle Money”

by Lee Abraham

 

“Lifestyle Money” is the new buzz. Check around. You will find that blending an income stream seamlessly into your current lifestyle is the business model of choice for today’s leading edge wealth builders.

 

First trick of the trade: jump on board with the business opportunity that best matches what you are already into. That’s where the “lifestyle” comes in. These days there are more types of MLM business opportunities than ever before. From cosmetics, jewelry and cleaning products to travel, legal services and nutrition, just about anything you can spend money on is available through one MLM company or another.

 

A Rose by Any Name

 

Regardless of which opportunity calls your name, all MLM, or “Network Marketing” business opportunities have several common features and benefits that your Power Team needs to understand and believe in, to be an effective “Bragging Buddy” on your behalf.

 

Let’s start with another new term, “Home Business Franchise.” Running a “Home Based” business is all about flexibility. When and where you work the business is up to you. Want to wear those fuzzy bunny slippers with the matching bath robe while coaching your sales force or placing product orders with HQ? Go for it! Need to walk the dog and get on a corporate conference call at the same time. You can!

 

Perfect for stay-at-home parents, people with disabilities and folks living in remote locations, Network Marketing levels the playing field like no other business model. Plus, there is no formal education required. MLM is truly an “equal opportunity” with no bias on age, race or gender.

 

So whether you build your business over lunch, in the nooks and crannies of your life, or as a full time gig wheeling and dealing among the masses, you can make money from home with Network Marketing if you have the discipline to be your own boss!

 

Less Taxing

 

Like any business operating from home, MLM creates some terrific Tax Shelter benefits, enabling you to deduct a portion of your living expenses (rent, mortgage, utilities, travel, etc.) on your income taxes. Bottom line: even if you don’t make a big income, Network Marketer’s enjoy some well deserved tax relief!

 

But wait! You want BIG income? No worries. MLM packs a money making one-two punch that’ll knock your socks off. Forget the fear. Step into the ring chanting “Leveraged, Residual Income” and you will happily stand toe-to-toe against the competition, slugging it out with your eyes on the prize and the heart of a champion!

 

Train the Team

 

Just like all the other Power Team Networkers, MLM’ers must train the rest of the group to be a “Bragging Buddy” for their business. In other words, the Power Team needs to know how to quickly tell a prospect why you are the only person they need to talk to for your particular product or service. And in your case, that includes people who are looking for another stream of income and a home based business!

 

So get out your notepad. Jot down a few points on what we’ve already covered. Our goal is to explain your Network Marketing business opportunity in small, bite size pieces that your Power Team partners will remember when they shift into “Bragging Buddy” mode on your behalf.

 

Start with time flexibility, then the tax benefits of a home based business. Put the concepts into your own words. Have a very simple real life success story to breath life into these basic elements of MLM’s allure. Got it? Now let’s give ‘em the big money shot and take a closer look at how to explain “Leveraged, Residual Income.”

 

“Leverage” means you’ve got a “downline,” people you personally sponsored into the business who duplicate your efforts. Every time the downline sells a product, or better yet, personally sponsors someone else into the business to duplicate their efforts, you get paid!

 

“Residual” means the checks keep coming. Just about every current MLM opportunity is based on customers receiving product automatically on a monthly basis. And every time the product is shipped, you get paid. Keep a customer happy and you keep getting checks! Sort of like owning rental properties except there are no tenants, roof repairs or vacancies to deal with.

 

Start With the Product

 

Although we’re off to a good start, I hear the MLM’ers out there, moaning and groaning that Power Team networking is a slow, indirect way to build a business. And it is. But just like MLM, a Power Team leverages your time and energy, while feeding you an ongoing, residual stream of money making referrals. Sounds good, doesn’t it? Of course it does. So roll up your shirt sleeves and let’s get to work! Your job? Decide which type of product best matches your lifestyle. From there, we’ll find the best MLM company in that market.

 

Make no mistake, working with a product line you believe in and use regularly is mandatory for building an MLM business with Power Team networking.

 

Need help? How about this: everybody wants to be healthy and look great. Including you! So what do you say we start there and get into the specifics of MLM and Nutritional Products, next time, when our adventure in networking continues… Follow Me on Twitter!

MLM – Make Less Mistakes!

by Lee Abraham

 

Last two posts we talked in general terms about MLM’s bad rep, particularly among the networking crowd. Bottom line: networkers know there is nothing more sacred than your integrity and Personal Brand, and yes, there are risks of recommending an MLM’er to someone you like and trust.

 

Face it, referring prospects to your Power Team exposes you to the possibility of your networking partner dropping the ball and making you look bad. And that can happen with any type of business, not just MLM. Either way, nothing kills the trust you’ve worked so long and hard to build than a prospect doing business with one of your networking partners based on your compelling, heart felt recommendation, only to have the referral go horribly wrong.

 

“It” Happens

 

Hey, it happens. Every once in a blue moon circumstances beyond the control of your Power Team partner get in the way of making a good first impression. That’s where communication skills come in. Call it damage control. We’ll spin those wheels some other time. Right now let’s keep our focus on avoiding mistakes rather than cleaning up a mess.

 

Power Team networking is all about quality control. If one of your networking partners proves to be more of a liability than a credit to your good name, you’ve got to cut bait and start fishing for someone new.

 

Even more important: before adding a new business to your Power Team make sure the person operating the business has what it takes to make you look good in the eyes of the prospects  you will be sending their way.

 

Let’s extend an olive branch to all MLM’ers at large who may not know any better. So far, we’ve looked at the MLM puzzle from the view of the Power Team. Time now for a FAST180 as we change perspectives and piece together the do’s and dont’s of Power Team networking from the MLM’ers side of the looking glass.

 

Two Ears, One Mouth

 

Take a note: most people tend to shy away from strangers who act like they know what’s best for them before getting to know the person first. Presumptuous? Arrogant? Insensitive? Take your pick.

 

Unfortunately, these churn and burn fortune peddlers play the numbers game, preying on a weak minded minority willing to take a huckster’s “easy money” carpet ride simply because they were asked. Poor saps.

 

Listen: Power Team MLM’ers start relationships with new people by asking questions to get to know them and learn about who they are. Using the “Two Big Trigger Questions” we’ve explored in a previous post, are highly effective tools for uncovering needs the other person may have which a product or service from someone on the Power Team can satisfy, and result in a money making referral.

 

I hear the typical MLM’ers knee jerk reaction loud and clear: “Everyone needs more money and telling them about my business opportunity IS what they need!” OK, fine, I get the concept that you help people make more money.

 

Now it’s your turn. I’ll be blunt: do NOT open the conversation with people you are meeting for the first time, either in person or online, by asking if they want to replace their current income in a few short weeks, or to join your rapidly growing team so you can all live the life of your dreams. It’s a timing thing.

 

Like it or not, shooting first and asking questions later is not how we build trust and gain confidence in a Power Team network. Or anywhere else for that matter.

 

Slow down tiger. Wait a moment or two. Power Team networking is all about farming, not hunting. Building relationships takes time. But the delayed gratification is worth it. How? Once your Power Team gets to know you, like you and trust you, they will begin to refer people to you who have already expressed an interest in your Network Marketing Business Opportunity!

 

Squeeze This

 

So that’s the payoff. A Power Team of “Bragging Buddies” who are talking to people on a daily basis and trying to send you business. Sit up straight and put on your happy face. Yes, it’s true: your Power Team understands that your business thrives on building a downline!

 

So far, it’s all good. The problem is taking a position that everybody should build a business with you before you even get to know them. Sorry. While a small percentage may jump on board, most people will be put off. Trust me, shoving an unwelcome income opportunity down someone’s throat the first time you meet them makes the Power Team partner who recommended you look bad. And that’s hard to stomach.

 

This is a big topic. So big, I want to make a meal of it. Ready to dig in? Consider the next serving an Online/Social Networking hors-de-oeuvre: Using a Squeeze Page pitching your business opportunity as the first website new people see is not a menu option. Very unappetizing! In fact, we’ll crank up the heat and show you the door quicker than you can say, “I smell something burning,” if hard sell is what you are serving online.

 

For a few more overcooked, too spicy and otherwise inedible MLM dishes which have been forever banned from the Power Team kitchen, join us next time, when our adventure in networking continues… Follow Me on Twitter!