This single strategy (if executed correctly) has put $100,000’s of dollars in my clients pockets.
So pay attention here…
Most all businesses I work with have what I like to call “power partners” that they are either working with now or can identify very quickly with a 30-60 minute exercise.
The key here is to get real clear about who your “power partners” are in your local or online markets. After you are clear, it will be much easier to identify the “Elephants” to target directly for joint venture opportunities or referrals.
Let’s walk through three (3) steps to identify your the “Elephants” you can ride all of the way to more revenue and profits for your business.
Step 1 – Get Clear, Identify your Power Partners.
Set aside 30-60 minutes and go through this exercise. It is important that you get clear on potential partners, and also industries that align well with your business.
Start writing down Industries that can potentially refer you business, then make another list of businesses that you can refer business TO. Remember, the whole goal here is to create VALUE for the Elephant first. In order to find that one “Elephant” you need to be clear on what industry they exist in first.
Ok good, we have our list and we can move on to step number 2…
Step 2 – Create The List
This step takes a little more research. But hey, we are talking about growing your business here. This might take you 3-4 hours initially but well worth the effort.
Take your list, pull open your web browser and start searching for businesses in your city, state, or region that are potential partners in the key industries that you identified in step 1. Try to focus on the top 3-5 largest in your area. Dig deep here and try to find key contact information for each organization. You may have to call to ask for the person responsible for referrals. One strategy I have used is call a business and say, “If I wanted to refer business to your company, who would I need to call?”.
See what we are doing here…? We are creating value first, then building a relationship..
An example would be a house painter. I might build a list of contractors, plumbers, electricians, and basically any other trade that might reach my potential prospect.
Step 3 – The “Magic” Bullet
Ok, so here’s where the real magic happens…
For each contact, you want to write a quick letter and email to introduce yourself, then follow-up with a few key questions to open the conversation. This is very powerful!
1) I am looking for a partner to refer business to in the <Profession> industry in my area. Who is your ideal client?
2) What is the best way to refer you business?
If you want a sample email I use, click here to email me and I will send it over to you.
Just like any marketing system, it may take several contacts to get in touch with the right person. With a little sweat and persistence you will find the Elephant in your market. All you need is one, that’s it!
Now get out there and take some action. The tip I gave you today is enough to grow many small businesses by 10%+ if you do something with it…That is always the key, you have to take the action.
Go Target, Attack, and Profit!