Tuesday, December 23, 2008

How to construct a database that builds equity.

Dear Friends,

Last week we talked about building equity in your career.

Here's a way you can build it.

How to construct a database that works!

Referral definition: A business opportunity initiated by a third party.

Before you read on, think about this definition. Really think!
How many people are involved in the "Referral Equation?"

The answer is three.
The Referral
The Referrer

Your referral network is the source of your business opportunities. Building a referral network that works as hard and as effective as you takes planning, preparation and execution.

Read this twice!

It's a fact of life that people have their own busy hectic lives to lead and it's not their job to remember you.

It's your job to make it easy and convenient for them to remember you and refer you to their friends, family, neighbors and co-workers.

I am convinced that the single most effective way to increase and establish an effective referral based business is to get in touch and stay in touch with your referrals and your referral network.

First, you have to have a referral network constructed in a solid, tangible and material format. I don't care how sophisticated or elementary it is. The format can be computerized or an "old
school" Rolodex.

My point is to have one!

It can't be in your head or your imagination or in the future, (I'll get to it when I have time). It has to be a daily priority and in a format that will allow you to print labels and addresses for
you to send contact information on a monthly basis to people who know you, like you, and trust you.

Your sphere of influence has to know what you do and how you help others.

People who know you, like you and trust you will refer you to their friends, family members, and co-workers if they know exactly what you do and how you can help others.

You know more people than you think. And more people know you than you are aware of.

I'm going to focus on the simple categories that will help you to construct a referral network that works by thinking of the people in your life.

1. Your mentors, current or past
2. People you have taught or mentored
3. People you have helped
4. Your co-workers, colleagues, associates and classmates
5. Your family and close friends.
6. Other members of non-business groups
7. Your former managers, supervisors and instructors
8. Your church leaders, members and groups

1. People in your contact sphere
2. Current or former clients
3. People who get more business when you get more business
4. People you do business with, other than your suppliers and vendors.
5. Current or former staff members, part time or full time
6. People you have given you referrals to
7. Anyone who has given you a referral
8. Other members of business referral groups

1. Your address book
2. Your family address book
3. Wedding guest list
4. Checkbook
5. Yellow pages of the phone book to help you remember people by what they do for a living. Use the yellow pages for an alphabetical "job" directory to remind you that you do know an accordion player. Keep looking you may even know a zipper repairer.

The Holidays are a time we celebrate with friends and family.
Use this time to add to your sphere of influence.

You've met new people, reacquainted with old friends and were reminded of a few people that should have been on your referral network database.

Now add them to you referral network first thing every Monday morning.

If your referral network isn't growing, you're not either!

In today's competitive marketplace your referral network will uniquely differentiate you from your competitors when they say "My Realtor is Lisa, she has helped our entire family. We trust her, she's the best. Here is her phone number. I'll even call her for you."

This is what equity in your career really sounds like.

Thanks for spending 3 minutes with me...
The best is yet to be!

On Your Team
Jeffrey Stanton ITI, CNE, WOW
Your Trusted Advisor For Life

One of the fastest ways to build a successful referral based business is by training. Now, with me, I like to invest significant time immersing myself in training, while some people prefer to take it in bite-size chunks. Whatever your preference is, now is the best time to contact me.

If you have found this tip useful, please share it with any friends, family, colleagues and associates who you think will be interested. Feel free to print it (with credit and subscription information) and continue to enjoy the tips. I am always grateful for any comments, criticisms or other feedback that you may have. Please send them to feedback@jeffreysjournal.com

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