Is Your Luck Running Out?

Has your business grown by ‘happy accident’? Do you worry your luck is running out?  

As business owners, we are always in business development mode. Determining which strategy is right for your company, at a particular point in time, with a particular market segment, is often tricky. One consistently valuable strategy is building your strategic network to foster referrals.  

What is a strategic network and why is that important?  

• It is a network of people developed with intention 
• The best networks are those that are beneficial for everyone involved 
• People with strong networks can get things done more effectively, from a job search to making a sale to making a deal. 
• Your network takes nurturing.  

As professionals, we pride ourselves on what we know. In building a strategic network, while there is emphasis on who you know, my belief is that the real value is on who knows you!  

Speaking as a reformed political consultant and lobbyist, what made me effective was the network of influential contacts I developed who knew and respected me.  

So ultimately, like many things in life, we all trade on our reputations.  

Building a solid company that moves forward requires effective leadership and strong infrastructure. When you implement solid business development strategies, this puts your business on solid footing and positions it for strategic growth.  

Today’s Question: 

How do you get better referrals?  

But Here’s the Twist . . .  

Three things need to be in place before you can implement your Business Referral Strategy: 

1. Clarity: Can potential referral sources explain what you do? Do friends and colleagues send you referrals that don’t fit your target? Are you struggling to find the right audiences? 
2. Effective Communication: What are the results of working with you? Who exactly do you want to work with? What resonates with your audiences? 
3. Identifying the best referral sources for you: Who is already in your network that does work that complements your work? Who do you want to meet in particular industries?  

Now What? 

Once you have clarity, can communicate effectively, and know who you want to speak with, you can implement a Business Referral Strategy with these steps: 

• set a clear goal, with specific targets and timelines 
• List your ‘Top 20’, a list of clients and referral partners 
• build relationships with synergistic companies 
• give and receive, making sure to make introductions for your contacts 
• educate your contacts about the type of client you are seeking 
• surprise & delight, letting your referral sources know the outcome of their introduction or referral 
• track your actions and results 

If you’re concerned that your business has grown by ‘happy accident’ – and that your luck is running out – now is the time to jump-start your business development efforts. 

When you have intentional and consistent efforts, you bring clarity, confidence, and control to your company.  

Has your business grown by ‘happy accident’? I'd love to hear about your wins and struggles. Direct message or email me! 

Patty's email: [email protected] 

P.S. Are you giving 'invisible' discounts to prospects who didn't ask for them? The anxiety you feel when talking with a potential client leaks out when you slash your price because you're afraid you'll lose the opportunity if you don't.  

I’ve broken down exactly why this 'discount dilemma' happens in an exclusive training called The Value Equation, which you can get for FREE by signing up for the bonuses that are companion pieces for my book, Your Hidden Advantage. 

Like what you see or want to share this with a friend? 

Subscribe here and browse my previous newsletters and articles here. 

? The Block Group Inc.