Power in Words


Power Team Concepts and Terms
 A System of Organizing Business Categories 

Our ultimate goal is to create a Power Team that generates an ongoing stream of money making referrals for your business. These networking partners are the most elite group of business contacts you have.  

To truly understand what separates your Power Team from everybody else, let’s split some analytical hairs together and dial in a few concepts and definitions. 

Copyright 2009 Lee Abraham
Copyright 2009 Lee Abraham

Concept #1:  All the people/businesses in the world, whether you are connected to them or not.

Term:
Universe

Recognizing the total spectrum, or Universe of business categories and people in the world is another way of saying that you have an idea of who and what is “out there” as the talent pool for building your Power Team. This is an essential step to take inventory and identify the business categories and people you need on your Power Team. 

Concept #2: All the people/businesses you are currently connected to.

Term: Network 

Everybody you’ve ever met in person, or have a direct connection to online, over the phone, or otherwise, is a potential Network partner or source of something you need, in one of three areas:

         Referrals – Sources of Business Opportunities
         Information – Expertise and Experience
         Support – Help and Encouragement

Concept #3: Businesses that are related and can work for the same client, complimenting but not competing with each other. (examples: Florist, Caterer and Photographer; Chiropractor, Massage and Nutrition; Realtor, Mortgage and Home Inspector; etc.)

Term: Contact Sphere

Understanding how your business fits into time tested relationships among Contact Spheres of related business categories which traditionally pass referrals back and forth is critical in the formation of your Power Team.  

Knowing which Contact Sphere you are in, and which business categories your Contact Sphere is missing, makes it easier to find the networking partners you need to complete your Power Team. 

Concept #4: People/businesses from one or more Contact Sphere who actively promote and strategically network together with the intention of building each others’ business and exchanging more referrals.

Term:
Power Team

As opposed to a simple Contact Sphere, in which even the least skilled or motivated networker is an occasional referral “order taker” for a related business (examples: Realtors for the Mortgage person, Massage Therapist for the Chiropractor), Power Teams work diligently together to create more business for each other on an ongoing basis regardless of whether or not they are in related businesses.

Examples: Jeweler who recommends a CPA and Attorney specializing Estate Planning to every young couple purchasing a wedding or engagement ring (“Wedding” Power Team), or the Air Conditioning Contractor who always recommends a Nutritional Supplement providor to every customer hiring them to clean out air conditioning ducts and install air filtration systems as way to help stop sneezing, coughing and itchy eyes (“Allergy” Power Team).

Next time out, a quick description of the Six Contact Spheres pictured above, when our adventure in networking continues… (Follow Me on Twitter)

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