Networking Group Book Now Available Everywhere (Just About!)
I am VERY pleased to report that my networking book, A Service Provider’s Guide to Starting a Unique Business Networking Group (Intense Publishing 2011), is now available as an eBook on a number of websites! Moreover, we have reduced the price!
If you want more out of your existing networking group, or are considering joining a networking group, or want to stand apart from your competitors and START a networking group of your own, then I invite you to purchase this book NOW!
Click on any of these more popular sites below:
You can also purchase the book on iBooks! Just search for J.B. Brocato or the name of the book in iBooks on your iPhone or iPad. If you choose to purchase this book, I thank you! And I truly hope it helps you take your networking to a brand new, exponentially-higher level!
J.B.
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3rd Stage: CR Sales Process Paradigm
The third stage in Crux Rainmaking’s Sales Process Paradigm is:
Qualification, which requires both pre-meeting research and in-meeting questions.
What is Qualification?
Qualification is the process by which you maximize the likelihood that you are pitching to an appropriate buyer. If a buyer cannot afford what it is you are selling, or if there is no need, or you cannot deliver within the buyer’s time requirement, or you are not dealing with the person within an organization who has the authority to buy on behalf of that organization, you have just wasted your time and energy trying to sell to that buyer. Even some of the best salespeople run the risk of getting in the middle of the pitch and only then finding out that they are barking up the wrong tree. With Crux Rainmaking, one of the keys to success is efficiency throughout every part of the sales process, so properly qualifying prospects is critical to insuring efficiency.
Pre-Meeting Qualification
The very first thing you need to do when starting down the road of following up on a new lead is to research that lead as much as possible before further communication with that prospect. Use the Internet, public records and reports, and your network of contacts to determine the following, if possible: Who is responsible for making purchasing decisions? What are the company’s current priorities? Who are their biggest competitors? Who are their current vendors? Are there indications that your product simply would not be appropriate or too costly or otherwise unacceptable to them? The answers to these questions will give you valuable insight into whether the prospect is right for you.
In-Meeting Qualification
Your qualification does not end with your research before that first meeting with a prospect to discuss a possible relationship. Your meeting with a prospect is also an opportunity to qualify that prospect. Probably the most important bit of advice I can give with respect to in-meeting qualification is as follows: Before even getting into what you can do for a prospect, ask a few direct questions. For example, ask about what they need, how they currently handle a particular buying situation, what their greatest challenge is when trying to market themselves, or establish themselves as a reputable company in the marketplace, who their biggest competitor is, and how they try to distinguish themselves from that competitor? As for the authority question, you need to be very tactful in confirming that person’s authority or limits thereof. It is sometimes best to ask something like this: “Other than you, who else in the company would be involved in making the decision to buy?” By asking questions like this, you can better frame your pitch when the conversation transitions into how you can help them.
So, do your research beforehand and ask the right questions during your first meeting to maximize the likelihood that you are, in fact, talking to a realistic prospect that is poised to buy from you. Avoid inefficient prospect meetings. Focus on mastering the art of qualifying and watch you meetings become more efficient and productive, leading to more business over a shorter period of time.
J.B.
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Crux Quick Tip (CQT) #28: Have Direct Conversations with Referral Sources
CQT #28: Have a direct conversation with any referral source to whom you have provided value, but who has not returned the favor.
Lack of Reciprocation
Do you have anyone in your network to whom you have provided an introduction to a potential client, customer, or donor, but from whom you have not received any business value whatsoever? Do you have more than one person in your network that fits this description? If so, you are not alone. If you are actively providing value to people (i.e., going out of your way to make their business success greater), then chances are that there are a few people who have not yet returned the favor. You need to take a step back and decide if you should sit down with them and discuss the wherewithal of such a person(s) to remain top of mind with you.
To Have the “Direct Conversation” or Not
If someone has not reciprocated yet, there could be many good reasons for this. The most likely and understandable is that such person is, in fact, looking for opportunities for you, but they simply have not yet materialized. You are top of mind with them, but no opportunity has arisen. Notwithstanding that fact, the person continues to actively look for opportunities. With this sort of person, either you know this is the case already or not. If you already know this, then there is no need to have the Direct Conversation. If you don’t know this is the case, then you should have the Direct Conversation.
The Substance of the “Direct Conversation”
The Direct Conversation need not be that direct. The idea is to have a conversation on the relationship between you and the other person. Start by saying that you value the relationship, and are very much looking forward to growing it in the future. State that your goal is to make sure you are on the same page regarding finding opportunities for each other, so as to maximize your mutual success. Tell the other person about the efforts you continue to make on his or her behalf. If the other person does not automatically start describing the actions he or she is taking on a regular basis to find opportunities for you, then ask him or her directly to do so, because perhaps there is something you can do to assist them in finding opportunities for you. Keep the conversation friendly, upbeat, and non-confrontational. You are not there to give the impression that you are unhappy with how things are going. You want to communicate that you are a person of action, and want to insure that there is mutual value being exchanged in the relationship.
Results of the Direct Conversation
If you are satisfied that the other person is really committed to helping you build your business, then there is no need for further action. If you do not get the feeling that he or she is truly committed to helping you, then do not rule out providing value to that person, but you do need to take a hard look at other potential people within your network to perhaps help first. After all, if there are others within your network who are actively looking for opportunities for you, why wouldn’t you try to help them before someone who has essentially said you are not top of mind or someone who, as it turns out, has a very low likelihood of ever providing you value? Be reasonable. Use the Direct Conversation to insure that you fully know the members on your business development team. No matter what happens, the other person to the Direct Conversation will have a much higher level of sensitivity to what you are looking for in the relationship. This can only work to your advantage. The more top of mind you are to that person, the greater chance of an opportunity arising for you!
J.B.
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Crux Quick Tip (CQT) #27: Focus on Your Existing Network
CQT #27: Focus more on your existing network to generate referrals.
Your Existing Network
If you have been actively out in the marketplace meeting people and developing relationships with referral sources, then you likely have a decent number of people in your existing network. Do not ignore these existing valuable assets. Oftentimes what some people do is get into a mindset of thinking they need to populate their personal networks with an unlimited number of people, running around from networking event to networking event, almost without purpose or direction, other than to collect business cards. In a way, such “activity” becomes their business development model. But they forget that the only business development model that works is one that converts good contacts into real business. Focus more on people within your existing network to accomplish this necessary conversion.
How to Focus More on an Existing Network
The first thing to do is make sure you have a good list of your existing network of contacts, with up-to-date contact information. Then go through your list, creating categories of contacts, including the following: (a) those who have already referred you business (Category A), (b) those who you believe have the greatest potential (i.e., have the best personal networks) to refer you business (Category B), and (c) those who do not fall into one of the first two categories (Category C). Focus first on those people in category A. Make sure you are actively staying in contact with these people, via email, a phone call, or over a good meal. And make sure that you are providing value to them. Providing value is, with respect to Category As, not only fair (given their prior referral(s) to you), but it is the best way to insure you are top of mind with them. After you have focused on Category A, do the same for Categories B and C.
Not Mutually Exclusive with Making New Contacts
For the purpose of clarity, CQT #27 is not intended to mean that you should not continue to make new contacts through networking events or otherwise. Of course, continue to do so if there are good opportunities to garner more great contacts for your personal network. The idea here is more one of focus than anything else. Time and financial resources are indeed limited so make wise use of them. Have a heightened level of focus on the assets you already have (i.e., your existing network). You already have a lot of time and other resources invested in these assets. Maximize your return from them!
J.B.
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Crux Rainmaking’s 1st Anniversary!
Where has time gone? It has been exactly one year since I started jotting down my musings on the topic of business development in this Blog. I have been honored with the reception the Blog has been getting, with subscribers and views from all over the world. The support I have received from so many people has, frankly, been humbling.
I just wanted to take a moment to thank each and every one of you for following this Blog. Believe me, I know your time is valuable and limited. There are many competing options for your time. The fact that you take a few moments every week to read my thoughts on sales and marketing is very, very much appreciated.
Having almost 100 published posts now, I feel like we are just scratching the surface. Of course, there is no end to the ways we can improve our business development efforts. We need to now dig deeper, and look for more useful ideas and ways to not only originate more business, but have even more fun in the process! If we are not having fun, then no amount of money is going to matter. In the end, we will be unhappy, no matter how successful we become. So, please remember to have fun as you continue to grow your business.
Happy New Year to everyone! I truly wish you much success and happiness in the new year. As always, I welcome any thoughts or comments you have about the Blog, or any other topic for that matter! Just email me directly at jb@cruxrainmaking.com.
Thanks!
J.B.
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