Top 7 Mistakes Made By Small Business Owners When Joining a Business Networking Referral Group
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Free Download - Improve Customer Service thru Professinalism that CATORs to All Your Clients By Leanne Hoagland-Smith |
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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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Dave KurlanDave Kurlan is a best-selling author, top-rated speaker and thought leader on sales development. He is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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