Doing Business With People You Know, Like and Trust

Some people wonder why certain businesses are barely hanging on by a thread while other businesses are prospering. It’s all about the relationships you create that will help you build your business and the commitment to those relationships will help your business excel even during economic turmoil.

You hear it all the time, “I don’t have time to join that networking group” or “The Chamber never seems to work for me” or better yet “That’s just another social club wanting money.”

Being involved in networking organizations will help you build your base of contacts, but it will never turn those contacts into contracts without you making the effort to build on the relationships you encounter at the networking events. Networking events provide you with the arena to get to know, like and trust fellow networkers.

What does it take to build a relationship? How about your personal relationship…..have you ever been in a personal relationship and you showed up when you felt like it, brought nothing to the relationship, just showed up for a free meal, or better yet made the date but then had nothing to contribute to the conversation? And how did that work out for you?

Building profitable relationships in networking is much like building a personal relationship. You must be willing to be honest, caring, and giving and have no expectations for a return on your investment. Once people realize you are participating with no agenda, they will begin to build trust with you. They will be open to your ideas and your purpose for the relationship.

Participating in a Chamber of Commerce networking event most definitely does work, but you have to realize that you can’t go to the event with the intention of “getting business.” If you are honest with yourself and go to the Chamber event to build relationships and get some visibility for yourself and your business, the people will begin to like you. It will become evident that you are there to help others, not take from them. The more people see you, they more they being to trust you…..especially if you are seen with people they already trust.

Once you have created an opportunity for event participants to like you and trust you, they will begin to want to do business with you. Why? People want to do business with people they know, like and trust. It’s really just a common sense practice if you think about it. Why would you ever go to the internet to Google a carpet cleaner when you have began to build a relationship with the local carpet cleaner that attends many of the same networking events that you do? You wouldn’t!

Now that you have seen the carpet cleaner on several occasions and been introduced to them by a mutual friend, and had the opportunity to get to know them in a “non-sales environment” you have been afforded the opportunity to begin building a relationship that will build your trust for them and their business.

Networking creates opportunities to begin fostering business relationships. And, that’s why you need to attend them…..not to hand out hundreds of business cards and beg for their business. But remember, building a relationship takes time, so don’t attend expectation immediate results or you will leave saying, “Those Chamber events never work.”

So, the next time you think that attending a networking event is not worth your time, think about the potential business relationships that you are about to cheat yourself from. And then, go ahead, go home and Google a stranger to do business with!

Once again, how’s that working out for you?

Business Mentors Worth Their Weight in Gold

Home based and small business owners have to wear many hats to run a successful business and is a very stressful career path for many people. One of the ways to solve your skill shortage problem and reduce some of your stress from the unknowns of business problems is to use a business coach or mentor.

Phone a friend

Imagine being able to call someone when you find a problem in your business that is stopping you earning more money and they provide the answer for you. A business advisor or mentor is the person that you call when in trouble. During the life of your business it is very important to have two or three specialists in key areas of business development to help you when something goes wrong.

Mentoring

Mentoring is when a person provides ongoing support and advice for you and continue to bring value to your business as it grows with you. A good mentor will be a sounding board and listen to the day to day goings on and provide some insight into why your business is doing what it is. They are in touch by phone or email often to help your business.

Business Coaching

Coaching is when the business advisor works with you to help solve business problems. This may include them actually do some work for you, including creating documents or training employees and you when you need more skills. Often business coaches are used to fix a short term problem and then they are no longer used.

Value of Business Mentors

The money spent on mentors is well worth it because they should bring about healthy increases in your revenue and customer streams from their advice and support. Getting a mentor is more cost effective for your business than hiring the specialist staff because:

o Mentors stay current and trained to the latest knowledge and skills, at no cost to you
o There is no wage costs or paperwork treating them as employees
o If they don’t produce results, you can look for another one and not worry about terminating an employee, because they are contracted instead
o A good mentor has experience and knowledge from many industries and not just the same one as the rest of your employees.
o Mentors enjoy solving problems in business and look forward to achieving good results because they are achievement focused instead of being focused on watching the clock each day

If a business mentor can increase your profits by 5% every year from now your business will become stronger and healthy. All this for a small investment to get their knowledge working for you

© Copyright 2009 by Paul Baker

Thirsty Horses Are Good For Your Network Marketing Business

In Richard Poe’s book Wave 4: Network Marketing in the 21st Century, he tells a story of a woman who had build a very large organisation in one of the major, long established MLM opportunities. She had a downline of several thousand distributors, but her monthly bonus cheque was only a couple of thousand dollars. Her business was stagnant. No amount of motivating her downline could make it grow.

She realised what the problem was…most of the people in her organisation were not hungry enough. As the old cliche goes…”You can lead a horse to water but you can’t make it drink.” If you want a growing business in network marketing, you must have thirsty horses. You want business builders. You want people who are going to follow your lead and duplicate your success.

A numbers game…or something much more?

It’s my opinion that the traditional network marketing approach of prospecting – writing a list of friends and family, the 3-foot rule, holding home meetings, one-on-ones at coffee shops, weekly hotel meetings – trains network marketers to be recruiters. It’s all about getting that “yes” or “no” and moving onto the next prospect. It does not train network marketers to be sponsors.

You’ve all heard the saying, “it’s a numbers game.” Well, when it comes to sponsoring a prospect, when you’re belly-to-belly with them, nothing could be further from the truth. It amazes me when I see experienced network marketers, those who have been in the industry 5 or more years, still happy to sign up anybody that would say “yes” to their opportunity. That’s all they know because that’s all they’ve been taught through the tradition school of MLM.

While getting that “yes” might feel good, it is not necessarily good for your business. Why? Because most people who sign up as distributors should not be in network marketing. Most sign up for the easy money. They want to get rich quick and they’re going to be out of there faster than you can put ‘em in, onto the next idiot who tells them they can make thousands of dollars a week doing nothing. Your time is far too valuable to be sponsoring these people.

The Difference Between Sponsoring and Recruiting

There’s a crucial difference between sponsoring and recruiting. When you’re recruiting, it’s the prospects decision to join you or not – you give all of the power to them. When you’re sponsoring, it’s you who makes the decision – you have the power. In other words, you are qualifying them for your opportunity.

You do not just want anybody in your business. When propecting, your attitude and mindset should be that you have a multi-million dollar business and you’re looking for good business partners.

Who do you want in your multi-million dollar business? Someone who is destitute? Someone who needs to pay off their credit card? A penny pincher who shops at discount stores? Someone with low self confidence and low energy? Of course not…

You want to sponsor motivated people who have big dreams, people who want it as much or even more than you do. Sponsoring people is all about finding your prospect’s “REASON WHY”. If you have a prospect who has shown genuine interest in your opportunity, don’t just rush to sign them up. Find out why they are looking. Find out their level of motivation. Ask them the tough questions and listen.

Connect with your prospect’s pleasure and pain

Believe it or not, but every single decision a person makes is in an effort to gain pleasure, or avoid pain. People are more motivated to move away from pain than they are to move toward pleasure. Find out your prospect’s pain, or what problems would disappear if they had all the time and money that your business opportunity could provide.

What level have they reached in their job? What price are they paying for maintaining their salary? Is it time away from loved ones? Is it burn out from stress? Is it not being able to live a healthy live? What else do they want to get away from?

Then found out your prospects pleasure. Ask them about their dreams that they could achieve by building the opportunity.

But listen intently to the feelings behind the spoken worlds. It’s not just about what they say, but also how they said it.

At the end of the day, building a downline that will grow and reward you is like panning for gold. Most networkers are happy to take anything that glitters and hope they’ve got one or two real nuggets of gold. Leaders know the difference between fool’s gold and the real thing. Leaders value their time and are willing to disqualify the wrong prospects in order invested it in those who genuinely want success.