NetWorthJax

Filed under: Self Improvement by Terrell
No Comments »

Filed under: Self Improvement by Terrell
No Comments »

14 Points of Effective Networking

By Kathy Timmons and Terrell Holman, Co-founders of NetWorth

Networking—meeting and greeting and getting to know other business people—is an essential way to build a small business. But many people find it difficult to network easily.

Here are 14 points to help you the next time you are in a business-social situation:

1. Perfect your 60-second infomercial. When you meet someone, be prepared to tell what you do in 60 seconds—your 60-second commercial. Within that critical first minute, the person you are talking with should have no doubt about what you do.

2. Understand who your power players are. Power Players are those in your sphere of influence within your industry whom you can reciprocally refer business. For example: a Realtor would have a Home Inspector, Attorney and an Appraiser as a Power Player because they would each refer business to each other.

3.Know how to start and end a conversation. To open a conversation, introduce yourself and ask “tell me about your business”. To close a conversation, say “it was a pleasure learning about your business, I have some other individuals I need to meet.” (if this is someone you need to spend more time with, close the conversation with “I’d like to get to know more about you and your business. If it’s ok with you, I will call and set a time for us to continue this conversation.”

4.Think outside the box. Don’t limit yourself to who you “Think” might refer you.  If you walk in to a Networking function and your target is Doctors and there are not Doctors, What do you do?  Talk to everyone.  Just because your target industry is not in attendance doesn’t mean that someone there cannot introduce you to your target industry.  Many referral sources you have may know a Doctor they can introduce you to. Great Networkers are excellent referral sources for any industry.

5.Follow up with people you have met within 24 hours. One of the best ways to remember to do this is to make a note on the back of the person’s business card—date, place, and topic of your conversation.

6. Schedule a one-on-one meeting to learn each others’ business. The more you each know about the other’s business, the better you can each reciprocate in business matters and referrals.

7. Attend several networking events to keep your name and company in view. Watch for opportunities, including special networking groups as well as chamber of commerce events.

8. Don’t limit yourself to one networking group. The more exposure you give yourself, the more contacts you will meet.

9. Arrive early and stay late at any event. Be the person who initiates conversations with newcomers.

10. Meet the leadership. The group leader most likely knows everyone and can introduce you to others. Meet that person and get to know him or her.

11. Get involved in high visibility committees. Involvement is the best way to become recognized. Involvement infers commitment, and people want to do business with committed people.

12. Plan to meet five new people at each event. Don’t socialize with only the ones you know.

13. Find common interests with members of your networking group. Meeting people is only the first step toward building business through networking. The real benefit comes through building relationships.

14. Don’t forget your business cards! Never leave home without them. We’ve all done it but people can’t refer you if they don’t have your contact information.

We hope you found this article of interest. Please leave us any comments on any other points we may share with our readers.

Your net-worth has now been increased!

Best wishes from Kathy and Terrell

Filed under: Marketing by Terrell
7 Comments »

In a booming economy there was a time where all you had to do is wait for your phone to ring to close a sale. In today’s economic times your phone might not be ringing as much as it has been or as much as you’d like so what do you do? Spending more money on advertising can put a major dent in your cash flow especially if sales are already low.

One thing we have all forgotten is what it took to build your business in the beginning. Remember those 16 hour days, the 100 phone calls a day, the one on ones you use to do with other referral sources, the thank you notes and the “over the top” customer service? Where has all that gone? We’ve all gotten spoiled to passive and reactive sales but where is the “proactive” approach we use to implement when we first launched our business?

It’s time to go “Back to the Future”. Now is the time to start doing those timeless things that worked in the past in order to secure your future once again. Since 90% of success is showing up, here are a few ideas that will put your future back in your control.

1. Get face to face with your prospect. Set a meeting in their office, over lunch or coffee so that they get to experience your passion and sincerity in person.
2. Don’t rely on emails to do all of your prospecting for you. The delete button is way too easy for your prospect to use. Plus, they are not that reliable. There are some emails I never received but the sender insisted it was sent.
3. Schedule a one on one with those that may be a good “referral source” for you. These are called Power Players. Power Players are those individuals and companies where referring business to each other is reciprocal. For example, a Realtor and Mortgage person often refer business to each other.
4. Prospecting may require you to leave the comfort of your desk. Ask yourself, where are my potential clients? Do I need to cold call? Do they attend networking groups? Can you meet them at socials or parties? Are their professional organizations I need to join? What industry would refer me the most and how can I get involved? Who do I know that can introduce me to someone in a specific target industry? Have you prospected your neighbors, family and friends? Does everyone you know, KNOW what you do and KNOW how to help you?
5. Ask for the sale. YOU may think people know what you do and people may THINK they know what you do but have you specifically asked for the sale or asked for a referral?
6. Answer your phone. I am always surprised at how long it takes someone to call me back. It makes me feel like they don’t care and they have all the business they need. In a day of overly used voicemail, your next BIG client is looking for a friendly voice not a pre-recorded message. If you don’t answer your phone, your competition will.
7. Don’t be afraid of competition. Weak sales associates run from networking groups where their competition is attending. People buy from people they know, like and trust. So, don’t be afraid to show them why they should know, like and trust you more!

Way before email, television, telephone and videos, the only way a product was sold is through a sales call or word of mouth. I’m not saying to ignore the futuristic professional tools we have now but what I AM saying is to use them to accentuate what you do and NOT to replace the basics you should be doing.

Your NetWorth has now been increased! Leave us a comment on your thoughts.

Filed under: Self Improvement by Terrell
8 Comments »

Filed under: Self Improvement by Terrell
3 Comments »