Tag Archive | "referrals"

The Three Foot Rule

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The Three Foot Rule


In many sales-oriented networking books and course, people are taught that networking is a selling tool and part of that lesson is what’s known as the Three Foot Rule: “Anyone within three feet of you is an opportunity to make a sale.”

We feel that not only is this bad advice for the networker, one that seriously decreases the chance for quality connection (many “3-Footers” mysteriously find themselves unable to get within three feet of anyone in a very short period of time), but that it also creates a negative feeling to the whole concept of networking in the minds of others.

As a result, people begin to avoid any event or activity labeled “networking” because they neither wish to participate in this hard-sell technique, nor do they wish to be exposed to it, especially in a concentrated form, in doing so we all lose out on valuable opportunities for service, connection and growth.

So, in the true spirit of connection-based networking (adding value to interactions in order to create and strengthen our connections with others), we hereby present our own Three Foot Rule, and hope you’ll join us in finding ways to make it our mission for the future of networking:

“Every person within three feet of you is an opportunity to serve.”   Dr. Ivan R Misner

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.

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Tracking Creates Habits, Habits Create Excellence

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Tracking Creates Habits, Habits Create Excellence


Aristotle said, “We are what we repeatedly do.  Excellence,then, is not an act, but a habit.

So, let me ask, what habits have you created around your referrals business?

The first habit that every business person should have is the habit of tracking your activities.  Creating a referral system requires that you track several things.

 

Track your networking activities.

  • Who are you networking with?
  • What activities are you participating in?

Track your giving.

  • Who have you given business to?
  • What connections have you been able to make?
  • What was the value of the business you have given?

Track your receiving.

  • Who has referred business to you?
  • Who has connected you?
  • What was the value of the business you received?

Track your thanking activities.

  • Who have you thanked
  • How have you thanked them?

When you have a system for tracking your activities and you use it consistently you begin to develop a habit.  It is these habits that creates excellence!

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.

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Why Do You Do What You Do?

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Why Do You Do What You Do?


My friend Paula Frazier is my guest blogger.  Paula is an excellent trainer for the Referral Institute.

“Why do you do what you do?” Great question! People buy for emotional reasons, it isn’t about products and services or features versus functions. It’s about YOU and what keeps you excited about the business you’re building. It’s your story, your most unique selling position. Like snowflakes each person’s story is different and beautiful in its own way. Each one is unique.

  • What is your company mission? Your personal mission? How are they in alignment?
  • What segment of your business gives you the most pleasure and the most profit?
  • Are you seen as the vendor of choice? Why do people seek you out?
  • How did you get started in your industry?
  • What excites you about what you do?

Of all the people who do what you do, why you? Your story is one of the very few things that can truly separate you from your competition. What’s your story? How do you tell it? It’s what sets you apart from everyone else who does what you do.

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.

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Women say Thanks More Often Than Men….

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Women say Thanks More Often Than Men….


There is no place where it is more important to show gratitude than in your referral marketing activities. Letting people know that you appreciate what they have done for you makes it easier for that person to refer you again.

I find that women are so much better at thanking others for helping them than men are. Why is that? A hand written note or a small token of appreciation, hands down women are most effective at showing appreciation.

So, the rest of this article is for the men. Say thank you to the people who refer you, thank those who connect you to the people you want to be connected to. Systems like Sendoutcards make it easy for you say thanks. You can create a card, add a little gift if you want and send it out, all online. It takes all of 10 minutes, but the return is 10 fold. If you don’t want to use Sendoutcards come up with a system of your own, make it a habit.

People want to be thanked, people want to be appreciated, when you take the time to let people know how much you appreciate them, you will win over and over again.

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.

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What is Your Referral Percentage?

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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.

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Netwoking Like the Birds

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Netwoking Like the Birds


Today I decided to take advantage of the beautiful day and work out on the front porch.  It was sunny, light breeze and very quiet.  I set up my laptop, got out my cell phone and poured me a cup of coffee, I noticed just a few little birds chirping.  I thought  that it would be the perfect place to sit and do my conference call with Dr. Ivan Misner and authors from around the world.

Suddenly, the silence was shattered!  It sounded like a birdie gang war!  I stepped off my front porch, looked up on my roof to find a group of little sparrows and one little black bird in the middle of the sparrows.  Those sparrows were chirping, squawking, and tweeting at him.  All the while, he continued to sit on the roof peek in the middle of the sparrows as if he was deaf to their incessant chatter, every so often letting out a little chirp of his own.

As I watched this little bird drama play out I realized those birds were behaving much the same way that we humans behave with our networks. As a BNI Director I often visit many of the groups, some are big, others much smaller.  When I have a conversation with the chapters about inviting guest and adding new members, I will hear great reluctance from some of the members and I often get the following comment “We like the group small and intimate.”  “We like it the way it is.”  “We all get along now.”    It is often the strangers in the room who are the source of those dream referrals, it is those strangers who have the connections you are looking for or who become your next best customer.  How often do we discount the person not like us, the person who is the stranger in the room?

How do you treat the strangers who come into your network?  Do you stand around with your friends and try to figure out who they are, who invited them, what they are doing in the room?  Like the little birds?  Or do you reach out to  make them feel welcome? Do you take the time to build a relationship and add them to your network or, are you networking like the little sparrows twittering among yourselves and ignoring the stranger hopeing that he will go away?

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.

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Linkedin – A Great Tool When Used Right

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Linkedin – A Great Tool When Used Right


One of the most popular business tools in the Web 2.0 world is Linkedin. If you are not on Linkedin yet, I would highly encourage you to get there, set up a profile and start connecting with your network. More and more business networking and connecting are happening using Linkedin, it is a tool that makes it easier to connect your network. Here are several ways that you can effectively use Linkedin to help you save time, support your network, pass referrals, and set yourself apart as an expert.

1. Set up your profile – Make it complete, many people go to profiles to learn more about you and your business, what your experience is, as well as where you went to school, and who you know.

2. Put a professional photo on your profileLinkedin is not a “social” site, it is geared more for business and business people. Make sure that you are putting your best smile forward. If you do not have a professional photo get one!

3. Ask for recommendations – If you have done work for one of your clients or network members ask them if they would consider writing a recommendation for you. Last week I spoke at the BNI National Conference, several people asked me later what they could do for me. I asked each of them, if they had been in my presentation would they please go to my Linkedin Profile and write a recommendation. I asked them to list 2-3 things that they learned and why they would recommend me to others. In the Referrals for Life Program we teach our students how to write good testimonials for one another, a recommendation on Linkedin simply makes that testimonial public.

4. Invite your Network to Link - how many people do you have in your database? How many of them are already on Linkedin? Start connecting to them and invite the ones who are not on the site to join you. When you have your network on the site and you are linked to them it will make it so much easier to pass referrals and make connections between each other. You can make connections for one another on Linkedin. No more going through your CRM finding the information on a contact then emailing it. You can simply make connections on the Linkedin site.

5. Answer Questions – find questions that you can answer that will help you be seen as an expert. Because of a question that I answered on Linkedin, I was ask to speak on a conference call to a group of Female CEO’s. Find the questions on topics that you are expert in and answer them well. You can also use these same questions in your blog and newsletters.

Last week, one person in my network, connected me to someone in his network who had ask him if he would make the connection. After some conversation he ask me if I would consider speaking at the regional conference for his organization. I then connected him to someone that he saw in my network whom he thought would be good for a future speaking engagement.

Of all the sites that I am on, Linkedin is the one that makes it easy to connect my networks and help them to connect to one another, it is a perfect tool when you are in the Referrals for Life Program. Remember Linkedin is a tool that enhances, not replace your face to face networking.

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.

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How did you choose your target market?

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How did you choose your target market?


This is a Question that I got on Linkedin, I thought it was very appropriate for this blog.

 In my coaching practice, clients (especially new entrepreneurs) often tell me they don’t want to nail down a specific target market because “everyone is a potential client” and/or they feel like they are missing out on business opportunities in other markets.

Have you nailed down one target market? If so, how did you go about making your choice? Did your target market choose you? How long after starting your business did it take for you to choose your target market?    Do you target more than one market? How do you balance your marketing?  Do you even believe that choosing a target market is essential to your marketing success? If not, please tell us why.

This is one of the toughest questions that I tackle with my students in the Referral Dynamics Program.  Generally business people think with a scarcity mindset, always afraid that they are going to miss out on some business regardless of the quality of the business.

For instance if I am an Insurance agent who writes insurance on anyone who has a business, then I am always running around trying to find anyone!  From the small one person business who has very little money to the multi-million dollar business.  It’s like shooting in the air and hoping that a bird will fly over.

On the other hand if I am the insurance agent who is an expert in working with Attorney Firms who have one or more partners in the Central Indiana area, I know exactly where to spend my time and my money marketing.  IF a CPA Firm calls my office and ask me to write a policy for them would I say NO?  Heck no, I would do business with them.

Declaring a target market does not mean that you cannot or may not do business with anyone else, it just means that you will have a target to aim your message to and spend your money on.  When the time comes to recruit Referral Partners they will be easy to find and easy to train.

It allows you to develop yourself as an expert so that your target market seeks you out instead of you searching for them.  It allows your customers to create a buzz about you!  Take a moment and ask yourself the following questions……..

1.  Who do I like to work with?

2.  What makes me the most money?

3.  What market do you have the greatest experiece in?

4.  Is there a market less served?

Building yourself a strong target market will allow you to work less and make more money!

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.

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Develop Your Networking Relationships

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Develop Your Networking Relationships


Business people spend a lot of time networking, some times it is important to slow down and develop relationships with the people that you have added to your network.  In the book “The 29% Solution” by Dr. Ivan R Misner and Michelle Donovan, they discuss tactics for building better relationships with your network members.  The more we get to know our network members the more credibility we build with them.

Here are 5 questions to ask your network member that will allow you to develop a deeper relationship.

1.  What would yo like to accomplish with your business this year?

2.  What are your challenges this year?

3.  What is standing in the way of your meeting yur goals?

4.  How can I help you?

5.  What do yoiu need to help you be successful?

Pay attention to what you hear, make notes and set out to help your network member.  It is important to spend time working on your network instead of doing more networking.  The deeper you develop your network the more valuable it becomes.

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.

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Are you interested or are you committed?

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Are you interested or are you committed?


My son is very interested in playing golf.  He plays regularly, even in the winter when others are setting at home in the warmth.  He has a great game, plays daily, and spends time practicing.  He loves the game and has a keen interest in becoming better.

 

On the other hand, there is Tiger Woods.  Tiger is committed to playing golf.  He spends money and time to improve his game every single day.  He strives to learn something new to improve his game.  He knows that he is one of the best in the world and he knows that he can always learn more.  He has coaches that hold him accountable while he spends time and money improving his game.  That is commitment.

 

So are you interested in growing your business by referral, or are you committed?  

 

Common traits of those committed to a business by referral:

 

  • They regularly take the time to learn more about referrals
  • They practice what they learn
  • They have accountability coaches or partners
  • They implement systems in their business
  • They never make the assumption that they already know
  • They seek others who are working to do the same

 

Experts are committed to what they are doing, while amateurs are merely interested. Which are you? 

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.

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