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 […]
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 […]
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 […]
1- Set a goal and have realistic expectations
-a good ratio to expect is that 1 out of 7 prospective new members will be a good fit for your group.
-guests who were pre-registered showed up to 88% of those meetings last year.
-set a target: ____visitors per month= ____ invites per month or ____ invites per member
2- Select a “Recruiting Coordinator” […]
Last week I was on a call with a member. I asked him how things were going in his group. He said, “Bart things are great. It is working. ” Then, he paused. When he paused I said, “You paused. What is the but….?”
He spent the next few minutes complaining about 2 members in the group. He had recently […]
Recently, I heard a great story from A.L. Kawaja, a financial advisor since 1999. He told a story about one of his best clients and how he got them.
When he first started in the business he had a gentlemen walk-in who wanted to buy $5000 worth of Abercrombie & Fitch stock.
A.L. said, “I took the time to get to know the guy. […]