The Pure Gold in Your Network

Many business professionals are reluctant to pursue referral marketing because they feel that creating referrals takes a long time.

Let us examine this assumption – do referrals have to take a long time?

No they do not. Not if you have developed relationships that are in the Golden 12%.

In this post, I take a deeper dive into learning more about these relationships that are designed for both the pocketbook and soul.

The Elite or Golden 12% Relationships, the real gold in a business professional’s network, are divided into 2 groups:

1)    Credibility (Misner) or #2 (Pink et al) relationships

2)    Profitability (Misner) or #3 (Pink et al) relationships

The Golden 10%: Credibility or #2 Phase

These are members of your network who:

  • Know you, like you and trust you.
  • Have knowledge of your business — ideally, a member of your network who can answer all 5 of these questions about you:
    • What do you do?
    • What are your products and services?
    • Who do you serve?
    • What’s unique about you?
    • And why you love what you do?
  • Have generated leads for you (opportunities without any transfer of trust) in the past. For example, “I know that my friend/ family member is struggling financially with their business… please call them about your factoring services but don’t use my name”.
  • May have generated reactive referrals for you (heard about an opportunity and actively transferred trust). For example, “I would like to tell you about my colleague in the factoring profession. I believe that s/he can help you pay for the material for that new piece of business that you are worried about. Let me introduce you to her or him some time”.
The Golden 2%: Profitability or #3 Phase  
These are members of your network who:
  • Exhibit all of the traits in a Credibility relationship:
    • High trust level
    • Solid knowledge of one another’s business
    • Can answer all of the 5 key questions about you
    • Have generated leads and referrals for you
  • Plus…They are raving fans. They believe that you have a very special service or product and are the kind of person who do not hesitate to initiate conversations on your behalf…
  • And create proactive referrals. For example, “In case you do get that big order that you were telling me about, I want to introduce you to my colleague in the factoring profession, who can make sure that you are ready for the business before your customer makes the decision. Let’s all 3 of us have a coffee together next week”. 
So, does it have to take a lot of time to create a referral?
Not if you are mining the real gold in your network – the all-important 12%.
Start tapping into the real potential of your network and focus on the Golden 12%!

And be booked solid by referral…

As always, I hope you find my blog posts helpful. Please contact me at any time to learn more about tapping into your golden relationships.

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