One of my favorite quotes is, “Be quick but don’t hurry,” from John Wooden the famous UCLA basketball coach who won 10 national championships.
Creating Urgency
Nothing gets done without urgency. Shorter timelines providing they don’t compromise quality are often better because they create urgency.
I spend a lot of time observing what makes our groups successful. I find that our […]
Building relationships is critical in developing relationships with referral sources/center of influence relationships. The first step in referral relationships is often trust. In order for people to refer to you they need to be able to:
1- Trust you. People refer and do business with people they know, like, and trust.
2- They need to know your target market.
Let’s […]
A- What is your ideal membership size? _____
B- Factor in attrition (20% annually) * 1.2
[…]
Back in March I talked about 5 key fundamentals that drive referrals: https://thereferralsgroup.com/referrals-fundamentals/
Quick Recap on what those are:
1-Face-to-Face meetings
2-Attendance Rate (above 80%)
3-Mindset, focusing on help others
4-Run a Good meeting
5- Grow membership to your ideal size
A lot of new groups do a great job in areas 1-3, which are extremely critical to the foundation of all groups. I hear from a […]
16% of groups we start won’t make it to the 24 month mark. I’ve tracked that ratio since 2004. Groups that fail usually struggle with at least 2+ of these areas.
1. Poor Attendance:
When attendance as a group is below 80% overall the meeting value gets diluted. When they fall below 70% it is death sentence for a group.
Our […]
A few best practices I’ve observed the last few months at The Referrals Group meetings:
Speakers:
1-Share specific targets. Recently, I saw a member share a list of 175+ specific targets he had wanted to meet. He then focused on why he wanted these targets and how to introduce him. It made it easy for the group to create referral opportunities […]
When I was in college I was part of a fraternity. It was one of the best learning experiences for me. My freshman year the fraternity fell apart and went from 90 members down to 40. A few of the upperclassman stayed and focused on helping build it back the right way. Our consultant told us we needed to […]
The value of this section of our meetings is the dialog about. We should learn from the referral giver and referral receiver the scenario, how the opportunity was identified, how it was tee’d up, an update on the status of the referral, and anything either side could of done better.
(Referral Giver):
Mike-Financial advisor: “I gave a referral to Suzanne. […]
Almost always the conversation with our new, existing, and struggling groups comes back to “I want to build (or be part of) a really good team.” I think starting with the why and the how is very helpful and for this post I thought I’d let one of my friends Nigel Green share some of his experience and […]
A large portion of our groups meet twice a month. A common question that comes up when we are building groups is what we do if there are 5 (insert day: ex: Wednesdays) in the month? Well if you meet the 1st & 3rd Wednesday of each month then you simply have a 3 week gap on those […]
Here are the things I recommend you doing to prep for each meeting. Prepping for 3 minutes will get you mentally engaged and thinking about how you can add value at the upcoming meeting. When all members do a little prep it usually makes the meeting more valuable and drives engagement.
Pre Meeting Checklist
1-Log and update any referrals in system
2-Read […]
Groups often ask me to come in and go over the last 3,6, or 12 months worth of referral data off the referral report and tell them:
-what do you see?
-where can we improve?
I start with the”Referral Report”for the last 12 months and look at these areas:
1- Referral Close % What is the referral close %? For groups 18 […]
What is the difference between a lead and a referral?
Often times in our meetings. I will hear someone ask for a specific contact. I love it when people are specific. You are much more likely to get a referral.
I recently heard a member in a group in ask for a specific introduction to a real estate broker that they […]
Building a great team
In the first meeting when we work with prospective new groups we tell them several things. The first thing we tell them is that building a strong group will be harder than you think, but in order to have success we have to have 3 things in place to have a shot at success.
1- Get good people […]
Years ago I used to overthink setting up a introduction between two people. As a result of over complicating it I didn’t do it as often as I could because it would take too much time for me to figure out the “perfect way” to setup. Along the way I learned that if I keep it simple it I’ll […]