SHOULD I JOIN A LEADS GROUP

In the course of my networking journey, I go to a ton of meetings. One of the first regular networking groups that I joined was a local “leads” group. It was a free-standing group, without affiliation to either a chamber of commerce or a national leads group. I enjoyed the camaraderie of the group, and even though I was acknowledged as giving more referrals than any other member, it did not lead to an expansion of my business. So after well over a year, I decided to move on.

Although this is not meant to be a total list, some of the more common groups you may have heard of are Business Networking International (BNI), LeTip International, and a new group in my area, TEAM Networking groups. In your area, there may also be groups that are strictly local, such as my first networking group, and it is worthwhile sorting them out.

Before joining such a group, there are things to consider.

What constitutes a Leads Group?

1. Meetings are held regularly, as often as weekly.
2. Only one representative of a category is allowed, e.g. only one realtor, or financial planner, or mortgage broker, or electrician, or computer specialist, or, whatever.
3. Most such groups would prefer that you only belong to their group, because how can you give referrals to multiple realtors, or mortgage brokers, or etc.?

Advantages of a Leads Group:

1. Meeting every week allows you to get to know the other members.
2. When members get to know you, they will feel comfortable using your service.
3. When they get to know you, they will give you referrals.
4. Depending on the leads group, members may have been screened before they are invited to join the group.
5. You may be mentored in the group so that your networking skills improve.
6. The group may offer training programs, especially if your group is part of a larger organization.

Disadvantages of a Leads Group:

1. The initial fee may be as pricey as joining a chamber of commerce or a national organization.
2. There may be a renewal fee.
3. There are monthly dues, whether you are able to attend a meeting or not.
4. You may be penalized if you miss a number of meetings.
5. They may expect you to find a replacement for you if you need to be absent.
6. There may be penalties if you do not supply other members with referrals.
7. The members may not be people you choose to do business with, or feel comfortable giving referrals to.

Be sure you visit the group as many times as they allow, before you are obliged to make a decision. Find out what you get for the initiation fee, and will it help you. If there is mentoring within the group, take advantage of it. If there are training workshops, be sure to attend. Make your membership work for you. And finally, if you have the chance to take a more active role in the group, offer to be the greeter at the meetings. This way you get to meet everyone who comes to the group as a visitor. Those folks may also be good candidates for your business or service.

Happy Networking

Kaaren

PROSPECTING SYSTEMS

Meeting with some colleagues today getting ready for a workshop we are doing, and I mentioned the concept of "Prospecting." One of my friends laughed. She had never heard anyone use that phrase before. But isn't it just totally apt? We are prospecting for gold all the time. We are looking for new customers, new business partners, and the 20% who do decide to join us in our business that will help us take it to the top.

Where are you prospecting for gold? Are you going where the geologists tell you is a vein of gold? Are you panning in a creek full of gold nuggets? Or are you dipping a net into a lake, and wondering why you are getting guppies instead of beautiful yellow stones you can take to the bank?

Gordon Hawkins described his best prospects in the category of his Natural Market: the people with whom he could relate, and with whom he liked to work. He said his market was not any particular occupation, profession, or specific needs group, but once a person mastered awareness of his natural market, he would be more successful. So how do YOU find your natural market? According to Hawkins, try these four steps:

1. List the names of the last 20 people you sold your product to, or brought into your business.

2. Out of those individuals, think to yourself, "What do I like about this person? Do I enjoy being around them?" Now place a check mark next to the names of the people you relate best with.

3. Review the characteristics of the people you like, and think about why these individuals bought from you, or joined you in your business.

4. Place a check mark by the names of the individuals you feel genuinely like you. Wherever you see a double check mark, that is your kind of person.

These people represent your Natural Market. So now take a look at people that might be included in your warm market list who share the characteristics of the people you like and that like you, and if they meet the four basic requirements (see Blog Post 12/20/2009), they should be next on your list to talk to. Next go to the referrals from people you know. Then how about the people you write checks to each month? They should at least be willing to give you a few minutes to hear about your products or business, and if they aren't interested, perhaps you need reconsider those relationships.

Happy Prospecting, and keep panning for GOLD!

Kaaren