Phil asked, “If your customer comes in to your store and you don’t have his size, where does he go?” I said, “He goes to the mall”.

So he asked, “Do you have competitors that have small clothing stores like yours that lose customers to the mall?” I said, “Yes, of course”.

“Then, what would happen if you went to your competitors and befriended them? You could tell them that if someone came in your store and wanted something you didn’t have, you would send the customer to them rather than lose the sale to the mall. And what if you told them that if they had a customer they didn’t have the right size for, you would take care of their customer and promise not to steal him? And further, you would allow their customer to come get the item from you at your cost just to help them make the sale.”

He told me that if I would do this with several of the clothing stores I felt were my competitors, what would happen is that all of them would call ONLY ME. And when I had a referral to give, I could call any one of them and give them a sale they would not have had otherwise. The result? My business would go up 20%. I would become the Hub and they would be my Spokes. As my friend Phil said, “The Spokes feed the Hub and occasionally the Hub will send one out one to the Spokes.”

When I got into the mortgage business I did the same type of thing. I befriended some of my competitors and others who got into the business. I would send them customers I could not help, like someone who needed a loan on a property in Texas. Over the past few years, lots of those mortgage folks have left the business. But since they still have friends call them from time to time about a loan, they now refer them to me!

If you want to increase your business, go out and meet the competition. I promise you they all want be there 10 years from now, just like you do. I promise you, if you’re nice to them they will send you the business they can’t write. Be the hub and go out and find your spokes.

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I discovered how to get more referral business as a result of opening up my box. I let more light in by reading more, attending conferences and seminars, and talking to those who were performing at 100%. If you want to get better at what you do, try opening your box a little and letting some new light shine in.

The great thing about this way of thinking is that it can work in all aspects of your life. Last week while I was in Monroe, LA for a speaking engagement, I stopped by to visit my mother’s cousin, Georgia. Georgia has raised a large family so I asked her if she had any advice for me as a parent with teenagers. She said, “Momma Gray gave me the best advice on that. She said they are only one friend away from being a train wreck so make sure you know who their friends are.” I now have more light in my teenager box because I was willing to open it up and let Georgia’s words of wisdom in.

If we take the time to be more humble about our performance and assess where we are right now, we will probably conclude that a little more light wouldn’t hurt. You might start opening up by finding someone who is a top performer in a different field than yours, speak with them and let them share some stories about how they have risen to the top of their game.

And let their light shine in.

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The next person you talk to, no matter who it is, is your first dot. The goal is to find a way to help that person with whatever it is they need today. My new friend Sam needs to meet people at companies that use billboard advertising. He recycles old billboards and turns them in to grocery bags and duffle bags but he’s young and doesn’t have a lot of contacts yet. He also wants to know people who make the billboard signs. They throw the old ones away and he wants them.

So I sit back and think about who I might know that has an ad on a billboard sign. I know CNN does. My friend Karen works at CNN (she is the next dot). I know ArborNomics, a local lawn care company, does. And I just happen to know the president at ArborNomics (another dot) and Marshall, one of his great employees (yet another dot).

Now who do I know that may know people who install billboards? I know Jeff who does graphics and he may know a billboard company (another dot). I know Silvy who owns a sign company (another dot). My friend Nick also owns a sign company (dot). I know Tom (dot) and Jack (dot) who both have advertising companies. My friend Andria sells specialty advertising (another dot).

Two of my friends each gave me the name of someone that might be able to help Sam. I got the opportunity to call these new contacts, introduce myself and tell them about Sam. During the conversation, they both asked me what I did and I got a chance to tell them.

So, because I asked my friend Sam how his business was doing, and because he told me about his hurdles, and because I wanted to help him, I connected his dot to all the other dots I was able to identify. Because of Sam, I had a new reason to call nine of my friends. Five of them asked me how my referral business was doing and I took that opportunity to tell them who I need to meet!

If you are trying to meet new people, just find a friend to help and then start connecting the dots.

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If you are, here is a fun way to beat the need to cold call: SELL YOUR CUSTOMERS’ STUFF!

If you spend some of your time selling your friends’ businesses you will be amazed at the referrals they will send you. My friend Clint has a ServiceMaster business here in Atlanta and I have been introducing him to my village of potential customers and contacts. I’m now on his sales team. In return he has been introducing me to his village of contacts.

My friend Lance works for an exterminating company. I have been introducing him to property managers, restaurant people and others in my village. He has been doing the same for me.

If you spend a portion of your day helping your friends make a sale, you are certain to accomplish two things.

1) Instead of cold calling, you now have a reason to call your warm/hot friends to ask them who they know that could use your friend’s service. They will then give you names of people to contact which gives you an opportunity to meet someone new. Now you not only have the chance to brag on your friend but also to tell them what you do.

2) If you help a friend make a sale or introduce them to people that they would like to meet, there is a high probability they will do the same for you. Be careful here and make sure you are introducing them for the right reason. If you are, the result will be reciprocity at its best.

The bottom line is – it feels good to do business this way. And that’s something I don’t think many people would say about cold calling.

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Click here to read Principles of Referral Marketing

The post Principles of Referral Marketing appeared first on bassackwards.com.

As business owners we wonder why our employees don’t bring in customers like we do; why they don’t introduce us to their friends and why they aren’t out hustling like we are for new customers. Don’t they understand that we need them to help us bring in business so we can pay them??

The answer is maybe.

They know that you need new customers in order to grow your business. They know you need a steady stream of new accounts. The problem is they don’t have the same skin in the game. You didn’t hire them to do that. You didn’t explain to them up front that you would need them to introduce you to people and help you get new appointments.

But that’s exactly what you need them to do.

So how do you get them to do it?  Do you incent them with money or vacations? Do you fire them if they don’t help?

NO.

Remember, you are the one with the job description under Sales. Their job description appears under Admin or Bookkeeping or Operations.  So treat them the way you would any other potential referral resource. ASK THEM WHO THEY KNOW!  

The key is to paint a really good PICTURE for them of what you are looking for. You can’t ask them who they know that might need insurance or want to roll over a 401k. Ask them who they know that drives a Mercedes or has their name on the side of their work truck. The next week ask them who they know that is a painter or owns a printing company. Then the next week ask them who they know that owns or works in a restaurant or sells software.

You get the point. You have to create a picture each week of something that makes them see a person in that picture. (That’s why you are in sales and not admin.) So make a list of the categories of potential customers you are looking for and put a different category on your calendar each week.  Use that as your reminder to talk to your employees about who they know.

Also, be sure your employees know that if their contact ends up having a meeting with you, it will be fun and hopefully profitable for that person – NOT YOU.  Remember that the purpose of the meeting will be to help them – not hustle them for business.

How do you make these meetings fun?  By talking to them about the things they do for pleasure, like collecting old cars.  Or fly fishing.  Or volunteering at the animal shelter.  Because remember, someone in your village will want to do one of these things one day and will ask you who you know.  And you’ll be ready. 

After all, you want to be the Mayor who delivers the customers AND the fun!

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You know that being a sales person can have some negative connotations. Some people believe it means you are pushy and you talk a lot. Now I talk a lot, but as I become more of a pro in my sport I find that I can sell more by not talking.

The world has changed in regards to selling. In the past, sales people had more information than the buyer. They knew more about their product than the customer did. Well all that has changed. With the internet, the buyer can easily get lots of information about a product and in some cases may know more than the salesperson. People don’t need to be sold like they used to.  In today’s world it is more important to be trusted.

If my customer knows as much as I do about what I am selling, then I don’t need to teach them or sell them.  I simply need to do what I say I will do.  I need to earn my customer’s trust. I need them to know I will deliver.  So as you are talking to potential customers, realize that trust is more important than selling. You don’t need to worry about closing the deal.  You need to build a relationship with them as quickly as you can.

And the fastest way to build trust is to be interested in what they have to say and not worry if they are interested in what you have to say.   Try it!

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Why?  Because they can’t make the sales numbers they used to make.

For a while your sales person could go out and make a little easy commission when there was lots of business. They could work a couple of hours on your stuff and a lot of hours on their stuff – like shopping, kids, church or chamber activities.

Then the shift occurred. “The Great Recession” hit.

Now they have to work at selling. They have to build relationships and give customers a lot of their time. Uninspired people don’t want to do that! They are not bad people, just uninspired about their jobs.

However you’re still inspired. I’m still inspired.

We want to be happy and successful and spend time with our families.

We know how to build relationships.

So fire your sales people and get yourself a lot of administrative help – people who know the business but don’t have any customers. Then you go get the customers and let them do all the work you hate to do anyway!

The post Has a commissioned sales person quit on you lately? appeared first on bassackwards.com.

What if you spent time collecting proprietary information on your customers?  (And by proprietary I mean information that is not generally known.)  What if you used that information, not as a tool to grow your business, but as a tool to grow their business or to help them get what they really need or want?

Imagine what would happen if all your friends spent a week trying to help you grow your business!  What would happen if your friends came over to cut your yard, cook for you or take your kids to practice?   Would you want to reciprocate? Would you be grateful? Would it change your relationship with them?

Start collecting the proprietary data that only you have access to and then use it to help others get where they want to go.

Bass-Ackward Business is about doing just that!

The post Collecting a Different Kind of Data appeared first on bassackwards.com.

When we think about the things we want to do in life, knowing whether or not we are making a difference helps us determine if we are on the right track. The problem is, we get bogged down in the day-to-day stuff or we get stuck with a boss who takes the air out of our tires and sometimes lose track of what is important.

The funny thing is, we can make a difference every day if we want to. Making a difference is up to us – not someone else. You can make a difference for a co-worker who is sick by spending a Saturday cutting their grass or cleaning their house. You can make a difference for a family member who is struggling financially by preparing meals, paying utilities or offering a loan. You can make a difference for a friend stuck in an unfulfilling job by getting the word out to your contacts that you know someone in the job market.

When you start every day thinking about how you can help someone unselfishly, everything changes! You will begin to receive thank you notes and nice emails, and some can’t stand it and will offer to reciprocate. They now want to know how they can help you.

So tell them!

Let them know if you need a better job
or some time away form work
or some help in the office.

When you ask it will appear.

So go ahead and make a difference everyday – right where you are standing – and watch the world become a better place for you AND them.

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