“Building Your Business Is Firstly About Building Your Team Around You” – Rose Gibbens
- Are you a Sole Trader or a Small Business Owner, but you do not have staff yet?
- How can you build your business without taking on staff and extra debt you may well ask?
- Well lean in and listen carefully, because I will share my secret with you……
- THE SECRET is in building your own Referral Business Hub. You may have never heard of this expression, or you may not know what it actually means, well then let me explain this concept to you.
I first learnt of building a Referral Business Hub when I was Brisbane South’s Regional Manager for The Referral Institute. I was doing my training course to become an accredited trainer with The Referral Institute five years ago at that time. This made so much sense to me that I immediately implemented this into my business. You can easily do the same in your business by following these 7 easy steps.
Seven Simple Steps to building a Referral Business Hub
Step 1: You select four business people that share the same or a similar client base to you, that you know and trust and that have high integrity in business.
Step 2: You then set up a Coffee Meeting with them and discuss the concept of having them as your Referral Partner (someone who you can send quality clients to) and building a strong business relationship with.
Step 3: You sit down and talk to each other and write down the following:
- What services or products do you each offer?
- Who is your ideal client?
- What services or products do the clients require?
- What words or phrases do they say that would indicate that they may need your Referral Partner’s services?
- How do I best introduce my client to my Referral Partner?
- What other businesses do our clients see before and after us?
Step 4: You agree to meet for a Coffee Meeting monthly to grow your relationship and to keep in touch with each other. To look at different ways to bring a new connection or client to one another at this meeting. To ensure that you pre-qualify the client prior to sending through a referral, so that the client knows that your Referral Partner will be calling them to chat and help them.
Step 5: You just Do It! Go through your data base of good clients and look for the people that are ‘a good fit’ for your Referral Partner and put them in touch with each other. The most effective way is to set up a 3 Way Coffee Meeting and introduce them to each other. The success rate in doing this is about 90% to a closed sale. You will find by implementing this into your business, you will soon feel confident to refer your Gold Clients to one another. This is when second tier referrals begin to happen. Your referred clients, then refers their best clients….
Step 6: You then repeat this process three more times to establish YOUR Business Referral Hub. If you have 4 Referral Partners that you spend quality time with each month and you regularly send qualified referrals to, you will be amazed how quickly this will help you build a strong base of Referred Clients for you. Remember-The best clients are referred Clients.
Step 7: You may be asking, will this work for my business? Well the answer in my opinion is yes, it will. You just need to sit down and think, who sees my clients before and after me. Usually these will be the best Referral Partners for your Referral Business Hub.
If you would like to know more about how to build your Referral Business Hub, then come along to one of my four Networkers Referral Groups weekly meetings for a Free Guest Visit.