Confessions of a Networking Junkie
Lorraine Ball

I am a networking junkie! But unlike people with other addictions, I am not looking for a 12-step program to cure me of my habit, because I like the ?BUZZ? my business gests from my referral addition.

A healthy referral based business is built by creating relationships with business professionals who provide other services to your customers.

Who Else Sells to Your Customer?

When working with a photographer interested in growing his wedding business, I suggested he create relationships with a caterer, a florist, baker, jeweler, and invitation designer. The reason; the average bride will spend $20,000 on her wedding. Having a solid network of people who are talking to brides allowed him to reach more potential customers at the right time.

The same process works in the home services industry. The average homeowner is doing something in their home every few months. Creating a network of associates on the look out for opportunities for you is like expanding your sales force.

On a regular basis roofers, carpenters, maid services, painters, remodeling contractors, electricians, and snow removal companies are talking to your potential clients. Do you have one in your network? Also, while you are thinking about potential candidates for your referral network, consider a home inspector, real estate agent, insurance salesman and mortgage broker as well.

Networking is work!

To find the right people, you may have to do a bit of networking, join the local chamber or other business association. You will need to meet a lot of people to find the right ones for your team.

When evaluating who you want in your inner circle, think about what you can do for them. Be fair if you can?t see yourself ever referring any business their way, don?t waste their time or yours cultivating the relationship.

There is a saying about getting what you want, by helping others get what they want. When it comes to business referrals I really believe that is true. If you create opportunities for someone else, they are more likely to create them for you. It won?t always be one-for-one, but in the long run, it pays off!

Pick your inner circle carefully! When you give the name of a resource to a client or a friend, you are connected to that resource. If they handle the assignment, professionally and competently your value, as a trusted advisor, or ?go to guy? increases. Conversely, if they blow the project, it reflects back on you as well.

Make time for your referral partners. Stay in touch through emails, phone calls or the occasional face-to-face. Find out what is new in their business and share what is new in yours.

As your relationship grows, it becomes easier to ask for referrals.

Also, periodically, review your referral sources. Have you remembered to say thank you for a sale that has closed. A personal note, or starbucks gift card ? even for only $5 is a nice way to follow up.

Every few months, consider buying lunch for the person who has sent you the most leads recently. Look for ways to send business their way. Also look for someone who used to be a good source, and has fallen by the wayside. Take them to lunch as well. Maybe something in their business has changed, or maybe they have just forgotten about you.

An electrician noticed that his referrals from a particular contractor had all but dried up. He called him, and they met for coffee. In the course of the conversation, he found out the contractor was selling his business. As a result of the conversation, the electrician met the buyer and became his electrician of choice. Without the conversation, the sale would have been made, and that source of business might have been gone permanently.

People come and go, and so even with a strong referral base, you need to stay active, and connected, always adding new people to your mix.

And one final thought, networking is addictive. The more you do it, the easier it is, the greater your results, the more addictive it becomes.

A twenty-year veteran of corporate America, Lorraine is an accomplished marketing professional, who has won regional and national communication awards. She is a certified teacher, facilitator and college instructor. Lorraine Ball is a frequent guest panelist featured on Sound Advice, the popular online audio program from Whats Working in Biz.

Her articles on marketing, team building, and business development have been featured in Contracting Business, The New York Forum and The ACH&R News. In addition, her books: The Entrepreneurs Notebook and The Confessions of a Networking Junkie are quickly becoming MUST READS for new business owners.

Today, her company, Roundpeg http://www.roundpeg.biz helps small business owners discover the secrets to big company marketing!