Business Networking: Referral Generation>Missed Business
Our focus at u.s. referrals is to develop strategies that will make elephants (and your business networking ROI) fly. We’ve identified “Missed Business” as an opportunity all of us can capitalize on.
We hope this article will help provide you with a basic framework and tactics so you can deploy an effective “missed business” campaign.
More business is what it’s all about right; however, we can’t walk around thinking; “who’s going to give me business”?
We need to flip the script on this; and keep our professional partners in mind.
I really believe the mind-set of the most succussful networkers go around thinking, “who can I generate an opportunity for”; it just so happens it also helps motivate others to walking around thinking, “how can I get him a referral back”.
Make no mistake; the best way to increase your networks referral production is to crank up your own referral production to your network first.
Your professional network will notice and they’ll become even more motivated to refer you; this is a very real and a very powerful effect.
Missed Business>defined>as it applies to business networking
Let’s start by defining “Missed Business”, as it applies to u.s.referrals: missed opportunities to generate business for a fellow Partner or opportunities failing to develop because of no and/or an ineffective strategy.
Missed business is just like anything else in business; you need systems and processes so you can anticipate potential issues and be ready to provide your solutions. In other words: obtain predictable results.
Your first step is very easy; simply, committ. Just committ to making “missed business” a priority and to taking action so you can implement an effective system that will fix this problem.
In essence, your committing to becoming a resource for your clients and who doesn’t want to make themselves more valuable to thier clients?
Imagine how nice it will be when you’re ready to capitalize on every opportunity that comes your way; you’re clients and referral partners will be happy!
Just think about this?…
If you’re consistently generating business for your team; what is your team NATURALLY going to want to do for you?
So make a committment to be a trusted resource to your clients and everyone you know; you want them calling you for solutions. It’s truly helping yourself, by helping others; it’s very real, and very powerful.
(1) Don’t know what you don’t know; if you are not paying attention you probably don’t even realize all the opportunities you actually have.
(2) If you’re not aware then you’re wasting chances to find out what else you can help with. We don’t want to miss out on anything because we’re not focused; we have to make our opportunities count….
(2) To busy answering questions (we were all taught to answer questions when we were little)
(3) You’re not asking the right questions because we’re too busy…everyone is busy!!
(4) We don’t take the time to develop techniques that allow us to be a valuable resource because we don’t understand how it helps us reach our goals.
I’ve committed now what?
Please understand this whole process is a very basic, simple, and fruitful strategy; now that you’ve committed it’s time to start implenting actions you can take.
(2) Framework> you need a framework so you can be efficient in developing repeatable/predictable Missed Business results.
Just like everything else in business; you need to develop a system/process to handle missed business in a polished and professional manner.
(3) Questions> most of us are only a few questions away from generating a referral for someone so it’s critical you develop a bank of questions you can use alone or stacked on top of each other.
My recommedation is start by identifying your “core” group of strategic partners; write them out on a list, and note characteristics of THIER ideal clients.
Next, come up with a few questions for everyone on your list; then practice and master your questions. It’s critical you’re polished and ready for every referral opportunity that comes your way.
*you should also develop “general questions” that are effective probing questions that you can deploy to generate a referral for almost any profession*
Just because of your preperation, committment, and planning you’ll naturally be more confident when it’s game time. Just start asking your questions and before long you’ll master it and it will just be part of your routine.
All the sudden you’re “business generating questions” will start producing consistent business for all the people you know, and even better, it’s not taking much extra effort on your part.. Just part of your routine and like money in the bank.
You should expect this to be a bit of a “set-up” process so do the up-front work and don’t cut-corners; this is a foundational tool, and the success of your efforts depend on the scope, quality, and the “delivery” of your questions.
In other words, this part is all on you.
(4)Practice>I touched on being polished in (2); well, how can you become so polished that your completly comfortable, confident, and efficient in deploying your questions?
Practice. Practice. Practice. It’s like someone said a long time ago in our own galaxy; practice makes perfect.
So, this is simple, and we’re not going to write a bunch of fluff on about the practice you need to put in.
…..Practice during practice; not the game. Once you’ve got everything down you will be able to switch-over to more of a maintenance regiment.
Do the up-front practice and it’ll pay off your entire career….
(5) Timing>timing is everything; it’s a cliche I know, and it is for a reason, it’s true.
For our purposes we can think about timing and how it relates to people we know and people we don’t know.
If you’re bringing on a new client there is an opportune time for you to deploy your referral generating questions.
You want to deploy your questions shortly after closing the deal; weave the questions into your sales process so you can do it consistently.
People you do know.
You will need to develop a “staying in touch” campaign for the people you do know, so this would be an ongoing campaign. You could use technology and perhaps automate this process.
You will not only produce business for others; you’ll strengthen your relationships, improve retention, increase your own referrals and so much more.
Just get something started and stick to it. After you get some reps your strategy can evolve, improve, and scale.
Bringing it Home
One thing we all have in common is that we’re all in sales. You can use this frame-work to make the most of your partnership with u.s. referrals and your team, and you can use this outside the group as well. It’s a tool to add to your “bag of tricks”.
Business networking is all about working together to establish profitable relationships while not taking from anything else you have established; in order to achieve this goal we have to generate our own business and work it thru the rest of team.
Missed business will be an excellent tool we can all use; please make the committment and let’s all get going on this right away. I’m excited to see if we can surprise ourselves.
Once we’re set with missed business we can move on to another tool and keep building up our arsenal.
Our committment is to start bi-weekly delivery of content to ALL of our Partners; we want the content to be related to building effective teams and business/sales in general.
Perhaps you’d like more info on FaceBook Ads or Paid Traffic, Websites, Blogs, Sales, Marketing, Cold Calling, Selling Systems…?
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