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!


MLM – Healthy Habits for Nutritional Supplements

February 27, 2009

 

idea-light-bulbby 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.ocean-view1 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 biz-trainingand 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 losing-weightAward 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, time-traveland 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!


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!