Endless Referrals by Bob Burg

From www.BURG.com: The definitive guide to turning casual contacts into solid sales opportunities. In this fully revised edition, Bob Burg builds on his proven relationship-building principles to bring even more clients to your door and helps you attract only those who are interested in what you sell. He shows how to maximize your daily contacts, utilize your tools both online and off, leverage your relationships, and generate ongoing sales opportunities

My Experience

Prior to reading of this book, I was a “Great Networker”. I handed out cards at every opportunity and told everyone I knew that I can originate and close mortgage loans quickly and with great rates. Event after event I would tell everyone what I did and how I have been successful because “I really know my stuff.”

I was missing one thing from my networking – the business it was supposed to generate! This all changed when I started reading Endless Referrals by Bob Burg. I learned what it means to network and how taking an honest approach and looking to truly help those around you can result in an ongoing business source. I now establish meaningful relationships, add value to those around me, and my contacts want to help me grow my business (Note: they do not feel obligated to do so).

Summary

Endless Referrals deals with the way in which you manage and cultivate your professional and personal relationships. More specifically, the book explains a great way for an individual to create new opportunities by approaching existing and new relationships in a new way. Essentially, you keep yourself out of the picture until you establish yourself as someone who adds value and/or the individual knows you, likes you, and trusts you.

What I found so great about this book is that it enables you to take the “theory” out of the process and gives you concrete examples of how to connect in meaningful ways with just about anyone you talk to. Here is a “step by step” which I have used with great success. These steps are explained in more detail in the book and I strongly encourage you to pick up a copy for reference.


1) When you meet with a contact focus the conversation on them. This includes friends, neighbors, professionals, fellow association members etc)

a. What is their business about? Do they have family? Are they from the area? How did they get started in the business they are in?
b. Ask “How can I know if an individual is a good prospect for you?”
c. GET THEIR CARD (don’t worry about giving them you card…sounds weird right? Certainly, if they ask, give it to them.)
d. Be a connector – if you talk to two people that night, introduce them and share how they can each know if a prospect is good for the other.
e. Did you know each person will generally have a “network” of 250 people? If you meet five new people, you just open 1250 opportunities!

2) Send a handwritten note which thanks them for their time.

a. “I will be sure to keep my eyes open for prospects to send your way”.
b. Do not ask for business in your communication.
c. Email is NOT OKAY here.
d. Include any information you might have come across that they could find useful.
e. The note includes all of your contact info and your PHOTO so that you start to become familiar.

3) Keep that person in mind.

a. Send Articles based on industry/profession/local opportunities
b. Refer prospects
c. Be a “connector” by helping them cross promote or develop business otherwise
d. This WILL TAKE WORK on your part.

4) Once they know you, like you, trust you….

a. “Mr. Contact, I am in the process of growing my referral business and I think it is important to partner with friends such as you. Do you mind if we take a few quick minutes to run past a few names which I might be able to help?”
b. Suggest specific groups of people when the contact is thinking.
i. The poker group.
ii. The golf foursome.
iii. Association members they know better than others.
iv. Fellow PTA contacts
c. Make it easy by suggesting wording to use and/or how to approach potential contacts.
d. “I want to give you my personal assurance that, when calling a referral you give me, I will never say or do anything to reflect badly on you. That will be my number one goal. Not just because it is the right way to be, but if I did so, I certainly couldn’t expect to be trusted with more referrals, which as you know, is the way I do business: mainly by referrals.


5) Other notes:

a. The way you do anything is the way you do everything.

b. By establishing yourself as a referral based professional, you are helping your clients understand the importance of referring people to you.

c. Every Person knows, through various channels, about 250 people or more.

d. Give more in value than you are taking in payment.

e. Professional Posture is directly related to the number of prospects you have.

f. A client you can’t sell can still refer you business. “On a scale from 1 to 10, what would you say is the value in this product”?

i. If 10, then get some referrals!
ii. If 7-8 perhaps you still have a sale pending
iii. If 5 or under, wrap it up and head out.

g. Don’t expect anyone to believe in something you do not believe in.

i. Believe in yourself
ii. Believe in your company
iii. Believe in the VALUE

h. F.O.R.M. Questions (Family, Occupation, Recreation, Message). Questions in these areas are a great way to find similarities and open communication.