Tag Archive | "prospects"

What is Your Referral Percentage?

Tags: , , , , , , , , , ,

What is Your Referral Percentage?


I regularly meet with prospects and help them understand how much business they are getting from their network.  It is very enlightening and they are always surprised by their results.  Do you know your referral percentage?  No?  Don’t worry, most people don’t know, but it is very enlightening.  So, grab a pencil and a calculator and I will help you find your “Referral Percentage” here we go,

 

1. List 4 people in your network (not customers) who have passed you the most business by referral this year.  For instance Tom, Sue, Bill, Kim.

2. Now, for each person write the number of referrals they have passed you in the last 12 months.  Tom=4, Sue=12, Bill=5 and Kim=8

3. Think about each of those people, how many people do you believe each of them know?  On average, we each know about 250 people. So, Tom=300, Sue=500, Bill=800 and Kim=200

4. Next step, add all of the referrals you have received together, in our example it would be 29, and then add all of the network members together.  In our example, it would be 1800.

5. Last step, you will need your calculator to complete the process,  29 divided by 1800 equals .016%

What is your percentage?  Are you surprised?  Did you have 4 referral sources?  Many of my clients are shocked and frustrated when they do this exercise.  It is possible to increase this number.  The very first time I did this it was .010 and I was shocked.

Here is the real question, what are you going to do to change this percentage?  What steps can you take to develop a higher referral percentage?   Hint:  Stop adding people to your network, instead start digging deeper into your network and develop stronger strategic relationship!  Start with the 4 people you listed here and if you did not have four then work on the ones you have.  When you are sure that you have increased that relationship, then move on to create a new one, until your have your “Four”.

Hazel M Walker, owns three award winning franchise’s. She is a 10 year owner of two BNI Franchises where she teaches members how to leverage their time and network to build each others businesses. She is also a Referral Institute franchise owner and teaches Business Owners how to harness the Science of Referrals to develop Referrals for Life. Hazel is a published author in New York Times best sellers Masters of Networking and Masters of Sales. As a member of the National Speakers Association she travels the world speaking to businesses and women’s organizations on the topics of networking to create a life you love.

Posted in Business 101, NetworkingComments (0)

Should Your Nonprofit Blog, Twitter Or Be on Facebook?

Tags: , , , , , , , , , , , , ,

Should Your Nonprofit Blog, Twitter Or Be on Facebook?


Many nonprofits are asking this question these days – Should we be blogging or use Twitter or be on Facebook? The answer: It depends.

It depends on what you’re trying to accomplish. Remember when nonprofits starting building websites about 10 years ago? Everyone had to have a website. They all thought that if they just had a website, they’d make lots of money online and might even be able to stop their other fundraising activities. No one had a plan for their website. They just got one together and posted it so they could have an online presence.

What we learned was that a website is a tool. It’s a tool for providing information to donors and prospects. You have to keep it updated or people won’t come back again. You have to know what you’re trying to accomplish with this tool or you won’t be able to measure its success.

So, what about blogging and Twitter and Facebook? In my opinion, those same lessons apply.

1. First, you must know what it is you wish to accomplish. If you don’t, you won’t have any idea of whether or not you are successful.

2. Be prepared to provide steady content. It doesn’t necessarily have to be daily, but it does need to be regular, like every other day or once a week.

3. Keep your content interesting to the reader. This is not necessarily what is interesting to you. If your reader isn’t interested, they won’t come back for more.

4. Be prepared to get feedback. These tools will provide two-way communication with your audiences, so they will have the chance to ask questions and give feedback.

Many organizations do a great job with a blog or on Facebook and the key to their success is that they are committed to it. They dedicate time to working on it regularly. Their sites are interesting and they keep the information coming.

Want more practical tips and ideas for successful fundraising? Get the twice-monthly “Bright Ideas for Fundraising” at http://www.getfullyfunded.com

Sandy Rees is a nonprofit fundraising coach and speaker who shows small nonprofit organizations how to raise more money, gain more supporters, and strengthen their Boards.

(c) Sandy Rees, CFRE

Posted in Social Media & Blogs, Technology, VolunteeringComments (0)

Learn Something New

Tags: , , , , , , , , , , ,

Learn Something New


If you are not growing you are dying! Part of growing is the act of learning something new, consistently.   So, let me ask you, what are you learning that is new right now?

I am an avid seeker of knowledge, I hated school and wasted a scholarship, but I love to learn.  It is my goal to learn something new all the time, this year it is Spanish.

I have decided to learn Spanish,  so I am hosting Spanish Classes in my Referral Institute training center.   I invited several hundred people to join me in learning Spanish.  I figure there is this whole population of people whom I cannot network with effectively and that means I am losing business to people who can connect with them.  I thought other business people would feel the same way, but that has not been the case.  Of the 600 people I invited to participate, only 10 showed up to learn.

What a pity, what an opportunity loss.  It is so vital that we find new markets, new networks, new connectors and influencers and new ways of doing business.  Still no one was interested in this opportunity to expand their knowledge and their businesses.

Those same people who spent so much time telling me they could not afford the time, or the money are the very same people who will tell me six months from now, that they don’t have any business, or business is slow.

If you are going to stay in business, you need to learn something new, like Social Networking, Web 2.0, Spanish, how to get in front of more prospects or how to close more deals.  Because those who are learning will out perform you and your customers might become theirs.

Unfortunately,  many business people spend more time telling me what they can’t do instead of finding ways to figure out what they can do.

Now is not the time to pull back on investing in yourself, your company and your staff.  Now more than ever it is important to learn something new!  Money and time invested in yourself and your team is always money well spent.

Hazel M Walker, owns three award winning franchise’s. She is a 10 year owner of two BNI Franchises where she teaches members how to leverage their time and network to build each others businesses. She is also a Referral Institute franchise owner and teaches Business Owners how to harness the Science of Referrals to develop Referrals for Life. Hazel is a published author in New York Times best sellers Masters of Networking and Masters of Sales. As a member of the National Speakers Association she travels the world speaking to businesses and women’s organizations on the topics of networking to create a life you love.

Posted in Business 101, Career, NetworkingComments (0)

  • About
  • Latest
  • Comments
  • Tags
  • Subscribe
  • Bizzy Women aims to bring high quality information together in one place to empower busy professional women. Topics include investing, finance, work-life balance, parenting, and everything in between.

    As a female entrepreneur and mother, I'm always on the lookout for advice on how to excel both professionally and personally... Read more»

  • Subscribe to Email Updates

  • Subscribe via Email