Top 7 Mistakes Made By Small Business Owners When Joining a Business Networking Referral Group
Allow only one business per industry Have some structure to monitor the referrals Meet on a weekly basis Limit the number of missed meetings
After belonging to a couple of these groups as a business coach, I have observed some consistent mistakes that small business owners have made:
No strategic plan
Without a strategic plan of who does what by when, these individuals are working harder not smarter.
No marketing plan
The marketing plan is the why for joining a particular group
No target market identify
A lack of clarity of the potential prospects keeps solid referrals from happening
No marketing message
A poorly crafted elevator speech does not help the small business owners explain the value of their services.
Not understanding the other members' products or services
The elevator speech provides a quick insight into a small business, but to truly understand the business requires spending some time with that business owner. This understanding allows both parties to make better referrals.
Not understanding the basics of referral networking
Referral networking is to develop mutually beneficial relationships through the act of making referrals. When a member expects to receive referrals, but does not make referrals, he or she is violating the purpose of the group.
Not researching the networking referral group
Members of the group may not reach the small business owner's target market. Hence referrals will be limited to non-existent. Every group should be researched to ensure that there is a good potential to reach the designated target market.
Business referral networking is a great business building strategy. Just make sure you have done your research so that you give and receive the referrals for everyone's business success.
Related Tags: strategic plan, target market, small business owner, business networking referral, networking referral
Leanne Hoagland-Smith, M.S. is a business coach and executive coach with offices in Indianapolis and near Chicago. She writes, speaks and coaches people in businesses to quickly double or triple results through the creation of an executable strategic plan along with the necessary leadership skills "to pull it off."
One quick question, if you could secure one new client or breakthrough that one roadblock holding you back from success, what would that mean to you? Then, take a risk and give me, Leanne, a call at 219.759.5601 to experience incredible results.
Visit http://www.processspecialist.com/ and explore everything from free articles to connecting with Leanne.
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