By Steve Fretzin
Oct. 27, 2011
Networking can be one of the most powerful ways to grow one’s business. Being an effective networker doesn’t simply mean that you give selflessly to everyone you can, although that is certainly a major component. It’s also about understanding who the “key players” are and how you can best create a win-win scenario. Taking care of your most trusted referral partners can mean the difference between success and failure in building your business. When I think about developing the strongest strategic partnerships, I imagine myself as a baseball scout searching for winning players for my major league team. Here is a baseball analogy that might help you understand the importance of putting together the right referral team.
Imagine you are a scout for a major league baseball team looking for the best players in the world to play for your club. You would probably go to the key areas where these players are located and watch them play, while also analyzing their skills, abilities and potential. What are they willing to do to be the best at the game and win championships? After much searching, inquiring and qualifying, you decide to invite one of these young athletes to play ball for you.
Does this new player go right to the starting lineup of your major league team? Of course not. A team would never replace a highly paid professional with an unproven entity without bringing him up the right way. Rather, they would put him on the farm team or minor league squad to see how he does. Only after he shows his talent and abilities over time, would you consider moving him up to the big leagues. So, how does this relate directly to networking?
When developing the best referral partners through your networking efforts, follow the same general guidelines or principles as the baseball scout. Always have your antenna up when looking for new partnerships at the events you attend. Then meet one-on-one with the individuals who show the most potential to discuss how you can help each other. Keep in mind that you just met this person and shouldn’t put him or her on your main referral team just yet. Try the individual out first over the next month and then ask yourself the following questions:
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Does this person truly get the meaning of networking?
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What is the size and connectivity of his or her network?
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Is this person the best at what he or she does and can back it up?
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How is this person doing at referring you, as you refer him or her?
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Are you obtaining more business from your new partner than with one from your past?
Depending on how you answered those questions, there may be a number of reasons to either move this person up, to the side, or off of your referral team entirely. Creating the “Dream Team” of referral partners takes time, patience and resolve. Making the experience a quid pro quo is the most important part of any successful networking partnership. Sometimes it is best to take baby steps forward with people you like and believe in, before rushing in too fast. Once someone has proven himself as a quality referral partner, get him in the starting rotation and win some championships together.
Steve Fretzin is president of Sales Results Inc., Team Discovery LLC and Networkingmonkey.com. He manages all three business-development companies to serve the best interests of his clients. He has more than 18 years of experience in sales, marketing and management. Reach him at steve@salesresultsinc.com.