Business networking is a proven way to grow your business. This strategy has been formalized by numerous organizations where members provide ongoing business referrals to other members. The rules or policies vary, but for the most part, these organizations:
Allow only one business per industry
Have some structure to monitor the referrals
Meet on a weekly basis
Limit the number of missed meetings
After belonging to a couple of these groups as a business coach, I have observed some consistent mistakes that small business owners have made:
No strategic plan - Without a strategic plan of who does what by when, these individuals are working harder not smarter.
No marketing plan - The marketing plan is the why for joining a particular group
No target market identify - A lack of clarity of the potential prospects keeps solid referrals from happening
No marketing message - A poorly crafted elevator speech does not help the small business owners explain the value of their services.
Not understanding the other members’ products or services - The elevator speech provides a quick insight into a small business, but to truly understand the business requires spending some time with that business owner. This understanding allows both parties to make better referrals.
Not understanding the basics of referral networking - Referral networking is to develop mutually beneficial relationships through the act of making referrals. When a member expects to receive referrals, but does not make referrals, he or she is violating the purpose of the group.
Not researching the networking referral group - Members of the group may not reach the small business owner’s target market. Hence referrals will be limited to non-existent. Every group should be researched to ensure that there is a good potential to reach the designated target market.
Business referral networking is a great business building strategy. Just make sure you have done your research so that you give and receive the referrals for everyone’s business success.
Top 7 Mistakes Made By Small Business Owners When Joining a Business Networking Referral Group - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Leanne Hoagland Smith
Are you or your business where you want to be? Are you facing constant struggles in business or life in general? Would you like to "unlock" those obstacles keeping you from greater business or personal success? As your results partner, we can work together to unlock those desired results by achieving tomorrow's solutions today. Let’s use your strengths for real change through proven and affordable solutions where the real problems are identified. Are you seeking loyal customers, great attitudes, increased sales, improved profitability or just some sleep filled nights? Then we should talk because my clients have experienced exactly those types of results. Learn more about customer loyalty at http://www.processspec ialist.com/customer-loyalty.htm Give me a call 219.759.5601 for a free strategy session. I look forward to speaking with you. P.S. If you are seeking a motivational speaker, sales trainer or small business expert that will leave your audience smiling and remembering, please feel free to contact me at 219.759.5601. - Visit Leanne Hoagland Smith's Website |
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Leanne Hoagland-Smith
(Visit Leanne's Website)
Are you or your business where you want to
be? Are you facing constant struggles in
business or life in general? Would you
like to "unlock" those obstacles keeping
you from greater business or personal
success?
As your results partner, we can work
together to unlock those desired results
by achieving tomorrow's solutions today.
Let’s use your strengths for real change
through proven and affordable solutions
where the real problems are identified.
Are you seeking loyal customers, great
attitudes, increased sales, improved
profitability or just some sleep filled
nights? Then we should talk because my
clients have experienced exactly those
types of results.
Learn more about customer loyalty at http://www.processspec
ialist.com/customer-loyalty.htm
Give me a call 219.759.5601 for a free
strategy session. I look forward to
speaking with you.
P.S. If you are seeking a motivational
speaker, sales trainer or small business
expert that will leave your audience
smiling and remembering, please feel free
to contact me at 219.759.5601.
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