One of the most overlooked assets of any great producer is their strategic partnerships. And the most valuable connections are what I call Power Referral Partners—people who do business with your ideal clients.
While you might feel like you’re doing just fine on your own, the amount of business you are missing out on by not forming and nurturing these sorts of relationships is likely staggering. So where can you find these people? And how can you properly leverage these relationships to boost your business?
When you’re on the hunt for your Power Referral Partners, it’s best to think first about vendor relationships. Find people whose services work in concert with yours and to whom your clients would most naturally be reaching out around the same time they’re working with you. Here are just a few examples:
- Loan Officers
- Title Companies
- Insurance Representatives
- Moving Companies
- Staging Companies
- Trust Advisors
- Insurance Advisors
- Sell-Side Advisors
- Attorneys (family, business, or corporate law)
(yep, this is my power circle!)
- Executive Consultants
- Recruitment Companies
- HR Management Services
- Marketing Agencies
As you can see, no matter what industry you’re in, there is a web of interconnected businesses out there who are already calling on the same prospects you are. These are the people you want to have in a Power Referral Partner meeting!
The main reason you’re getting together with these people is that you plan on sharing leads and referring business to one another, so make sure everyone is on the same page before you meet. Start by creating a list of 25 people that you would get together with, at a minimum of twice a year, to talk about how you can help each other’s businesses grow.
Beyond making sure you’re meeting regularly, nurture these relationships with the occasional personal, non-business outing or meet-up. They are, after all, a big part of your Inner Circle.
Deepening the web of connection between you and your Power Referral Partners will create a loop that ensures everyone is getting quality leads consistently. I can’t stress enough how important it is that you identify these people and utilize those relationships to their fullest potential.
Until next time—go sell some stuff!