Are You Tapping Into the Full Potential of Your Network?

Every day, business owners are reminded that their network is the most important asset to their business. Social media, email marketing, networking events, and more indicate that who you know could be the difference between success and failure. But, the secret is in more than the numbers. It’s in more than who you know. It’s in how you utilize who you know.

Simply having Joe Millionaire on speed dial probably won’t help you too much toward your goals, but having a lead-exchange lunch with Joe Millionaire definitely would!

In my own POI Training Video Series, I discuss in detail how to identify the most influential people already in your network, and leverage those relationships for nearly endless referrals. However, there are other elements you can add to make full use of your current network – whether it’s of 4 or 4,000.

Exchange Knowledge

Knowledge is power. Even if your relationship with another business owner or potential client is brand new, you can both still benefit immensely from simply exchanging knowledge and ideas. In fact, this is a fantastic way to strengthen new connections. Host a business owner’s mastermind call or group event, share what you know and encourage everyone attending to share something of their own. This can be anything from new tech recommendations to time management tips to how to enjoy down time. It’s a great way to spend an afternoon or even entire day with like minded people learning, growing, and helping each other succeed.

 

Establish Affiliates

Once you’ve built a solid relationship with clients and other business owners, you can take it even further by establishing an affiliate agreement. Often the people and businesses in your network are those within the same market or complementary market to yours, which means they will have products and services of interest to your clients/customers – and vice versa. By setting up an affiliate arrangement, you agree to pay other entrepreneurs a certain amount on every sale they refer to you, and you can also get paid by referring sales to them. Everyone, including the client/customer, wins!

 

Exchange Testimonials

Most of the time, when we think of testimonials, we think of nice things our clients/customers have said about us. However, having testimonials and endorsements by other businesses can sometimes have an even more powerful impact. Consider exchanging real and truthful testimonials/endorsements with some of your top connections, and you will strengthen each other’s chances for continued growth and success.

 

Host Joint Ventures

We’ve all either been to or heard of joint venture events – perhaps without even knowing that’s what they were. Everything from combined workshops to summit events and even joint webinars would fall into this category. By teaming up with one or more other businesses, you gain the benefits of a combined audience, new possible leads, more exposure, and higher credibility. You also open the doors to even more joint events, more affiliate relationships, and possibly even new product offerings.

 

These are just a few ways you could be tapping into the potential of your network right now, and chances are you probably aren’t realizing its full potential. I encourage you to try out these tips starting TODAY, and make sure you have and understand the basics of POIs as well. If you need help in this area, be sure to check out my POI Training video series.

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