Best – "I offer IT support for companies with no IT staff. My ideal client is an accounting firm with between 10 and 40 employees"
In the ideal scenario, Rainmakers will immediately think of the right connection between the right people, in the right businesses.
2.) Find your Power Circle
Your power circle contains the people you work with to add value to your clients. The ideal person is someone that:
- You like
- You trust
- Offers services that compliment yours
- Services a similar market
An example of a good power circle:
- A graphic designer
- A web developer
- A marketing consultant
- A software developer
- A hardware support specialist
- A phone systems vendor
- A phone service and bandwidth provider
Assume that each person in our power circle has 50 clients. Working together, this power circle would have a combined client base of 350 clients, while each member could offer better solutions to their core client base by drawing on the expertise of both their power circle, and the outside relationships held by members within the power circle.
3.) Don’t try and "sell" other Rainmakers
Rainmakers know the difference between selling and building relationships. If you try to sell your services before you establish a relationship, your chances of a sale are slim. Remember that the referrals that come out of a lasting business relationship will far outweigh a quick hit sale to another Rainmaker.
4.) You have fewer competitors than you think
Do not be discouraged that there are many Rainmakers in your field. Sharpen your focus and understand the target market of everyone in your field. Consider the real life example of three financial planners:
- Financial Planner #1 – Focuses on high net worth individuals
- Financial Planner #2 – Focuses on recently divorced women
- Financial Planner #3 – Focuses on retirees
When taking target markets into account, these three financial planners do not compete for business, and actually could be the basis for a strong power circle.
5.) Get Personal
Find Rainmakers with common interests. Get together outside of normal Rainmaker events. Find out about people’s families, hobbies, and goals. Have more fun and do business with people you like.
6.) Customer Service
Do your best work for anyone referred by another Rainmaker. Remember that another Rainmaker has staked their reputation on your quality of service. You will have worked hard to develop the types of relationships that generate referrals. Don’t blow it with sloppy execution.
7.) Follow Up on Promising Partnerships
Follow up is the most important step in getting value from relationships. Follow these tips to get the maximum value for your time.
- Meet someone you think you can work with at Rainmakers. This requires more pre-qualification than handing them your business card and walking away. After all, you may be investing additional time in the relationship.
- Call the person you would like to partner with and set up a follow-up meeting. This is a key part to establishing a business relationship. Many people forget this step.
- Pick a time and place where you will not be rushed and can focus on the meeting.
- Ask questions. Take notes. Focus more on understanding their business than talking about your own. No one ever learned anything by talking.
- Find out the profile of their perfect client, the one that brings the maximum long -term value to their company.
- Find out the profile of their perfect prospect, the one where there is a clear value proposition, good margins, and a slam-dunk close for the sale.
- Create actionable items and write them down. If there is no fit, think of other businesspeople that may be a fit and make the connection.
- Execute. Nothing pleases a potential partner more than really strong execution. After all, they may be staking their reputation on your work.
- Follow Up. Don’t waste all the time and effort invested to this point by letting the relationship die. It may be months before the first opportunity comes along to work together. Be patient and keep in touch.