Tag Archive for: business connections

Business Connections – Help Those Who Help You By Spreading the Word

Your board of directors is there to help you. Why not return the favor? They’re reaching out to those they know to find opportunities and business connections for you. Are you ready to do the same for them? You never know who you’ll meet, including the biggest customer one of your directors ever got – thanks to you.

Wait? A board of directors for your small business? Yes! We call it a BOD here at Coaching for CEOs. Your BOD is made up of business connections who make a deliberate intent to contribute to the bottom line of your business.  

As the pandemic (hopefully) winds down, friends, family, and other business people will be getting together for the first time in months. We’ll be enjoying that human connection many of us missed living behind our computer screens. What will you talk about?

Small talk is all about asking open-ended questions. Make the other person the focus of the conversation and actively listen to what they’re saying. They’ll probably appreciate the attention and think you’re really smart if you’re interested in them.

Your Board Members May Need Many Things. Might This Person Help?

Keep a mental list of what your partners do and what they’re looking for. Their priority may be increasing sales, finding a supplier, a contractor or investor, or filling job vacancies. Try to figure out how the one you’re talking to, or someone they know, might fill one of these needs.

Come up with questions you can ask those you meet to find details that can help a board member (maybe even more than one). Start very broadly, with open-ended questions, then get more specific. You might find out more about their social circles, who they work for, and whether they might be someone your board members are looking for.

Once you have narrowed down which board member this person might help, they may open up more if you state you are asking for a friend, not for yourself: someone you are connected with who helps you with your business does _____ and is looking for help with _____.

Ask Specific Questions If You Think the Person Might Be a Good Fit

If the person recently got married, got a divorce, had a child, bought a house, or is heavily involved in a charity, your board member-attorney-friend who does estate planning would probably like you to ask if they have a will. If so, you could ask if it’s been updated to reflect their current goals, like making sure their assets will help their child or support that nonprofit. If not, creating one would be a good idea.

Your board member selling life insurance would also probably love to chat with that same person. Someone going through major life changes should review their existing coverage or buy a policy. Proceeds could pay off a mortgage, support a child, or benefit a charity. Tell them a friend sells insurance, and it is something they should think about.

Mortgage interest rates are at historic lows. If your board member works for a mortgage lender, and if the person owns a home, you could ask if they’ve refinanced their mortgage recently. That board member, or the one who is a real estate agent, would like you to ask if they plan on selling their home to buy a new one.

Both those industries are having record years. Maybe these board members need help keeping up and are looking to hire new employees. If you meet someone who doesn’t sound happy with their current job or is actively looking for work, they might be a good fit. Tell them you know someone who is hiring and offer to connect them to your board member.

Speak Up for Your Board Members

Your board members need help too, and reaching on their behalf is a great way to do it. Not only might they link you with possible clients or customers, but they are also a valuable resource who can answer questions or give advice. When you join Coaching for CEOs, you create business connections and have access to business partners who will help you build reciprocal relationships.

Want to learn more about how to leverage your relationships and grow your business? Fill out my contact form and attend one of my online seminars. Let’s start the conversation about how we can help ourselves and others.

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Create Your Own Economy

We all live in our own environment. It’s where we live, socialize, do business, attend religious services, and shop. We’re in a bubble that bounces into and sometimes merges with other bubbles as we live our lives. You can create your own economy by finding and leveraging the bubbles of future clients and customers.

You must target those who may buy your product or service. It’s like being a private detective, researching someone you need to know more about so you can enter their bubble, be a part of their world directly or through your connections.

To get a sale you could try a direct approach. You may get lucky with a cold call or by introducing yourself at a networking event. But most of these “frontal assaults” fail, so investing time and energy in a more stealthy approach may work better. You won’t pop up out of nowhere, you’ll be connected by someone your future customer knows and trusts.

To create your own economy, you must find out…

Who is Your Ideal Client?

Depending on your business, you may have a few clients who make big purchases or many smaller ones with lower budgets. Who are they? Where are they? Is contacting them in person or through your connections the best route, or must you take another route because they’re too far away?

If there are many possible ideal clients nearby, how should you prioritize your sales efforts? You can focus on a big fish that may be more difficult to catch, but the rewards are bigger. Or, you could go after the smaller, easier-to-catch fish first.

Your track record of success and happy but smaller customers may make it easier to hook the big fish. Though they may not generate the same income, your more numerous customers may provide you with more connections, more possible partners, leading to more sales with more accounts (and maybe a big fish).

What Other Types of Businesses Interact With Your Ideal Client?

Imagine yourself in your ideal client’s bubble.

  • Who might have access to your ideal client?
  • What businesses is he or she working with?
  • Who are they buying from or selling to?
  • What relationships might this person or business have?

These businesses can have a connection on a personal level. They can be the person’s realtor, hairstylist, or landscaper. It could also be business-based, like a supplier, a contractor, an insurance broker, or a banker. Ideally, all these people should have your business card handy in case they want to connect you with someone.

Create Partnerships With Those Businesses

Connect with those connected to your ideal client. They may be people who have no need for your product or service, but they need connections too. You’re offering a relationship that doesn’t cost anything to them (they’re not paying you for anything, though they are using time and energy to promote your business) but offers potential rewards (benefits from your efforts making connections for them). They should, when the time is right, mention you to your ideal client or make an introduction.

These partnerships can be made in person or generated through LinkedIn (which is also an excellent place to research ideal clients and potential partners), content marketing including blogs, and instructional videos posted on your website and social media.

If you want to learn more about how to leverage your relationships, create your own economy, and grow your business, fill out my contact form and attend one of my online seminars. Let’s start the conversation about how we can help ourselves and others.

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