Business Relationships

Focusing on Business Relationshipsstring(34) "Focusing on Business Relationships"

March 26, 2020
, , Building Relationships, Strategic Planning, Video Blog 5

We are in a crazy time right now and we business owners need to be thinking differently than ever before. We need to be focused on two strategies. First, you need a plan to get through this current situation with your business affected by current events. Then, you need to plan on what you are going to do as quickly as possible when society returns to normal. We all have to do something and be proactive to really make a difference by focusing on business relationships.

Watch this video with Frank De Raffele about planning your own strategies to help your business these days.

Transactional versus Relational

People don’t make good decisions based on fear or anger, so don’t succumb to that. In the middle of any kind of serious challenge, it’s hard to see through the fog that surrounds us. Do not get distracted by all the noise, but focus on the solution. Therefore, change your plan from focusing on business transactions to focusing on building business relationships. Use online networking to build meaningful referral sources, referral partners, and strategic alliances.

Are you doing virtual one to ones with people and talking about the various types of referrals that you are looking for. These may be completely different than what you were asking for before due to self-isolation. Be creative and think of ways to stay in business while practicing social distancing. This is a perfect time to reconnect with the people that are already in your network. Go deeper into that relationship and ask them how you can help them. And it’s okay to ask for help from your network for people that you know and have a good relationship with them.

People need their network, more than ever before. You will have a business tomorrow because of the actions you take today. Yeah, a lot of people are going to go out of business, but those with a powerful personal network are not. The people that you have in your BNI network are very supportive and in BNI, we are all willing to share those networks with each other.

When Is It Appropriate to Ask for a Favor?string(42) "When Is It Appropriate to Ask for a Favor?"

May 15, 2014
, , Building Relationships, Business, Collaboration, Connections, Credibility, Networking, Networking Prep, Networking Tactics, Relationships, Social Capital 2

In this video, I discuss how to identify and prepare for the appropriate time to ask for a favor within the context of a business relationship.

I explain how the concept of social capital is a key factor when it comes to asking favors and I tell a personal story where a business associate of mine named Alex went about building social capital with me in the absolute perfect way.

Watch the video now to learn the ONE thing you need to have with someone before you ask a favor of them and, also, how to spot when it would be a big mistake for you say yes to favors when you’re asked to do them by other people.

Do you have a story about how you built social capital with someone in a great way, how someone else built social capital with you in a memorable way, or how someone asked you for a favor when it wasn’t the right time?  I’d love to hear these stories as well as any other stories you might have that are related to this topic. Please share them in the comment forum below–thanks!

‘Mastering the World of Selling’string(44) "‘Mastering the World of Selling’"

August 30, 2010
, , , , , , , , , , , , , , , , , , , , , , , , , , , , , Author, Book, Connections, Marketing/Sales, Networking Prep, Recommendation 1

When one of your business relationships passes you a referral, don’t assume that the prospect is ready to hear a presentation on your product or service. When an associate passes you a referral, say thanks . . . then start digging for more information.

You will want to determine whether what you offer is a fit for what the prospect needs.  Taking the time to do this upfront saves a lot of time and energy–for both you and the prospect. Exactly what does the prospect do? What products or services does he want from you? Will your offerings truly fulfill his needs? What is his behavioral style? What are his business goals? How large is his company?

Even with the referral in hand, don’t skip steps in your sales process. Before you approach the prospect, decide on a strategy based on whatever you can find out about him–the same as you would when preparing for any sale. Although the prospect was referred to you, all you’ve really received is an opportunity to approach the prospect with a favorable introduction. (This is not a bad thing–a single referral can open the door to a prospect it may have taken weeks, months or even years to connect with–if you even could at all.)  But whether the prospect becomes a client or not depends on how well you convince him that what you offer, at the price and under the conditions you offer it, will fulfill his needs.

It’s always a good idea to consistently hone your sales skills and strategies. If you need a good sales resource, look no further than Mastering the World of Selling.  It’s a brand-new book by Eric Taylor and David Riklan, and it contains one of the greatest collections of sales training wisdom for the 21st century that I’ve ever come across. It features sales strategies and advice from 89 of the world’s top experts including Brian Tracy, Zig Ziglar, Tom Hopkins, Jeffrey Gitomer, yours truly and more. 🙂  To find out more about Mastering the world of Selling, click here.

Do you have any dynamite sales wisdom that you’ve picked up over the years?  If so, I invite you to share it here by leaving a comment–there’s no such thing as too much useful information.  Thanks!

If You’re Not Inviting, You’re Missing Outstring(54) "If You’re Not Inviting, You’re Missing Out"

July 8, 2010
, , , , , , Building Relationships, Connections, Credibility, Networking, Networking Prep, Networking Tactics, Referrals 6

Inviting prospective referral sources to an event you’re attending, hosting or participating in as a featured guest, exhibitor, panel speaker or award recipient is a great way to enhance your contact with them and build credibility.

If you’re not inviting your prospective referral sources to events, you’re missing out on a great opportunity to keep them informed of activities you’re involved in. When the event is one where you have a chance to share your expertise or where you are being recognized for an achievement, using this tactic contributes to building your credibility and image as a successful and knowledgeable professional.  This tactic also helps acquaint your targets with others in your network and transforms strictly business relationships into friendships.

If you haven’t been inviting prospective sources to events and you’re not sure whom to invite or how to invite them, here are some tips to get you started:

  • Make a list of the events you’ll be attending and a list of network members you might invite.
  • With plenty of lead time, call or write each prospective source to invite him or her to the event; explain the reason for the invitation.
  • Pay your network member’s admission fee, if there is one.
  • Make sure the event offers benefits to your prospective sources, such as an opportunity to meet someone they admire, to be entertained or to be recognized.
  • Whenever possible, allow your guests to invite guests of their own.
  • It’s OK to invite people you do not expect to attend.  Remember, one of your aims is to keep your sources informed of what you are doing.

So, what events are you attending in the coming weeks?  Make use of the tips above and make it your goal to invite someone to each event you attend from here on out. Chances are you’ll not only reap some great benefits, you’ll probably enjoy the event even more with your network member along.