MLM and Golden Goose Referrals

March 2, 2009

 

golden-goose-31by 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 healthy-couplewhenever 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. money-trailDig 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.

golden-geese-22

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.” money-boat2More 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!

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Success Recipe – Feed the Hungry

February 14, 2009


recipe-14By Lee Abraham

 

Every recipe has a critical ingredient or two that absolutely must be included. Forget the vodka and instead of a Screwdriver, you’ve just got orange juice. Leave out the yeast and your bread comes out like a cracker.

 

Same with networking. There are a few basic ingredients which cannot be overlooked in cooking up money making referrals for your Power Team, and in return, for yourself.

 

Last time out, we started from scratch, first identifying your Contact Sphere and then mixing in the Key Situations most closely associated with your business. New to the table? Click here to see what you missed.

 

Icing on the Cake

 

OK, great! Now that we’re all on the same page, let me ask you a question. If you are a Caterer (Events Contact Sphere) and do a lot of business at Wedding Receptions (“Getting Married” Key Situation), wouldn’t it make sense to network with a Jeweler, Florist and Event Planner so they could recommend you to their clients who are getting married? You bet it would!

 

All three of these business categories can send you, the Caterer, an ongoing stream of referrals. cake-24In other words, all three are a “Golden Goose” for your business.

 

Sticking with our recipe analogy, all three are icing for your Power Team cake. Left out of the mix, your network will still generate some business, but without a few Golden Goose referral sources, the results will never be as sweet as they could have been.

 

Want to do something great for the Caterer on your Power Team? Give compelling recommendations to a Jeweler, Florist and Event Planner, telling them that they absolutely need to meet the best Caterer in town, so they can refer business back and forth.

 

And regardless of what’s cooking in your business, you will never become a referral gourmet as a one dish wonder. Translation: You must be able to recognize a Golden Goose for all of the Six Key Situations, not just the Golden Geese for your Key Situations.

 

Feed the Hungry

 

Trust me, everyone on your Power Team is hungry for more business. And the more mouths you feed, the more motivated people you have looking out for your best interests.

 

Today’s “Hot Plate Special?” The management is proudly serving Golden Goose!

 

So get out your cookbook and take a few notes. Here is a short summary of a few Golden Goose referral sources for each of the Six Key Situations.

 

Building/Improving a Home: Contractors, Realtors, Mortgage People, Interior Designers, Furniture Sales

New In Town: Realtors, Moving Company, Property Manager, Cleaning Service, Cell Phone Sales, Office Managers

New Baby: Baby Clothes/Furniture, Birthing Centers, OBGYN, Office Managers, Clergy

Building a Business: Business Brokers, Business Owners, Office Managers, CPA, Advertising Sales, Computer Sales, Office Furniture, Printers

Weddings & Events: Any Event Contact Sphere category, Clergy, Office Managers

Get Healthy: Any Wellness Contact Sphere category, Office Managers, Sports Teams and Coaches.dinner-table-24

OK, who’s hungry? Me too! What do you say we sit down at my favorite table and cook up some business for each other, next time, when our adventure in networking continues…   Follow Me on Twitter!