Critical VendorCritical Vendor™ NetworkingNetworking

Defining & Defining & Developing Developing

Target MarketsTarget Markets

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What What can you can you do with do with

211211°F

water?water?

x

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What What can you can you do with do with

212212°F

water?water?

x

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Presentation Outline…Presentation Outline… The Best of the Reps and the Rest of the RepsThe Best of the Reps and the Rest of the Reps Seven Steps to SuccessSeven Steps to Success

Know Your NicheKnow Your Niche Master Your MarketMaster Your Market Reap Your RewardsReap Your Rewards

Critical Vendor NetworkingCritical Vendor Networking Short – Term GainsShort – Term Gains Long – Term GainsLong – Term Gains

The One Degree of Difference The One Degree of Difference DifferenceDifference

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The best vs. the rest…The best vs. the rest… The Rest of the RepsThe Rest of the Reps

Have huge networks – Often Have huge networks – Often hundreds of contactshundreds of contacts

Spend endless hours at Spend endless hours at networking eventsnetworking events

Sell to anyone & everyoneSell to anyone & everyone Focus on their own businessFocus on their own business Accumulate random contacts –Accumulate random contacts –

no network structureno network structure Go to many long, usually Go to many long, usually

fruitless meetingsfruitless meetings Take a year or more to get Take a year or more to get

referralsreferrals Offer money or other Offer money or other

incentives for referralsincentives for referrals Make “one-off” salesMake “one-off” sales

The Best of the RepsThe Best of the Reps Have small networks of 5 to 7 Have small networks of 5 to 7

contacts per target marketcontacts per target market Avoid networking eventsAvoid networking events Have well-defined marketsHave well-defined markets Focus on their clients’ Focus on their clients’

businessesbusinesses Build well-structured networksBuild well-structured networks Go to 2 or 3 brief meetings a Go to 2 or 3 brief meetings a

month – and get multiple month – and get multiple referralsreferrals

Begin getting referrals in Begin getting referrals in weeks, not monthsweeks, not months

NEVERNEVER pay for referrals pay for referrals Enjoy continuous referral Enjoy continuous referral

streamsstreams

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Seven Steps to Success…Seven Steps to Success…

1 Tell them what 1 Tell them what GOODGOOD you do. you do.

2 Describe who you do it for. 2 Describe who you do it for.

3 Discover where your prospects hang out. 3 Discover where your prospects hang out.

4 Find their 4 Find their burning issues.burning issues.

5 Find out who is helping with these issues. 5 Find out who is helping with these issues.

6 Meet these 6 Meet these critical vendors.critical vendors.

7 Give business away! 7 Give business away!

Short-Short-TermTermResultsResults

Long-Long-TermTermResultsResults

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A note on examples…A note on examples…

For each of the For each of the Seven Steps to SuccessSeven Steps to Success discussed in this presentation, three discussed in this presentation, three

examples are given.examples are given.

The first two are from PEO’s clients.The first two are from PEO’s clients.

The third example is from a large PEO.The third example is from a large PEO.

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Not Not whatwhat do you do, do you do, but what but what GOODGOOD do do you do?you do?

Step 1…Step 1…Replaced tires sold by previous Replaced tires sold by previous owner owner a year agoa year ago at no cost to at no cost to customer.customer.

Saves CPA with only 1 employee Saves CPA with only 1 employee more than $500 a month.more than $500 a month.

Refinanced recently bankrupt client Refinanced recently bankrupt client and saved him $250 a month.and saved him $250 a month.

Mortgage BrokerMortgage Broker

PEOPEO

Tire Shop OwnerTire Shop Owner

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Step 2…Step 2…

Who Who do you do you do it do it for?for?

Owners of 3 to 5 year-old, high-Owners of 3 to 5 year-old, high-performance, specialty sports cars.performance, specialty sports cars.

High-end remodeling contractors High-end remodeling contractors with 10 to 20 employees, with 10 to 20 employees, businesses founded after 1995, businesses founded after 1995, located in northern California.located in northern California.

Low-income, inner-city home buyers Low-income, inner-city home buyers with high credit card debt.with high credit card debt.

Mortgage BrokerMortgage Broker

PEOPEO

Tire ShopTire Shop

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Targeting your market…Targeting your market…

Rep’s Criteria:Rep’s Criteria: Who I’ve sold toWho I’ve sold to Who I’d Who I’d likelike to sell to to sell to Areas of special interestAreas of special interest Areas of special knowledgeAreas of special knowledge Who gives me referralsWho gives me referrals Who do I give referralsWho do I give referrals CommissionsCommissions

Company’s Criteria:Company’s Criteria: Total monthly payrollTotal monthly payroll Average salary/employeeAverage salary/employee Number of employeesNumber of employees Risk LevelRisk Level Size of target marketSize of target market Life-Stage (growing, Life-Stage (growing,

mature, shrinking)mature, shrinking) Number of locationsNumber of locations

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Step 3…Step 3…

Where Where do they do they hang hang out?out?

Auto ShowsAuto ShowsRace TracksRace TracksOwners’ ClubsOwners’ Clubs

NARINARITrade AssociationsTrade AssociationsTrade SchoolsTrade Schools

ChurchesChurchesSports clubsSports clubs

Mortgage Broker’s Target Mortgage Broker’s Target Low-Low-income, inner-city families with high income, inner-city families with high credit card debt.credit card debt.

Tire Shop Target Tire Shop Target Owners of high-Owners of high-performance sports carsperformance sports cars

PEO Target PEO Target High-End Remodeling High-End Remodeling ContractorsContractors

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1 Tell them what 1 Tell them what GOODGOOD you do. you do.

2 Describe who you’ve done it for. 2 Describe who you’ve done it for.

3 Discover where your prospects hang out. 3 Discover where your prospects hang out.

Steps 1 – 3Steps 1 – 3Short-Term Results…Short-Term Results…

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Steps 4 - 7Steps 4 - 7Long-Term Results…Long-Term Results…

4 Discover their 4 Discover their burning issues.burning issues.

5 Find out who is helping with these issues. 5 Find out who is helping with these issues.

6 Meet these 6 Meet these critical vendors.critical vendors.

7 Refer business to 7 Refer business to critical vendorscritical vendors! !

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212212°° Reps… Reps…

Know their target market’s Know their target market’s burning burning issuesissues

Do notDo not believe satisfied clients are a believe satisfied clients are a great source of new businessgreat source of new business

Get 10 to 20 times more referred Get 10 to 20 times more referred businessbusiness

x

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Step 4…Step 4…

What are What are their their burning burning issuesissues??

Meeting AgendasMeeting AgendasSpeaker TopicsSpeaker TopicsWorkshops & SeminarsWorkshops & Seminars

GoalsGoalsChallengesChallenges

Tables of ContentsTables of ContentsFeature ArticlesFeature ArticlesAdvertisingAdvertising

Reading Professional/Trade PublicationsReading Professional/Trade Publications

Asking Clients & “Premium” ProspectsAsking Clients & “Premium” Prospects

Going to Professional/Trade AssociationsGoing to Professional/Trade Associations

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Step 5…Step 5…

Who are Who are their their Critical Critical Vendors?Vendors?

Auto Security ExpertsAuto Security ExpertsMechanicsMechanics(Rare) Parts Dealers(Rare) Parts Dealers

ArchitectsArchitectsMaterials SuppliersMaterials Suppliers

PriestsPriestsKids’ Sport CoachesKids’ Sport Coaches

Mortgage Broker’s Target Mortgage Broker’s Target Low-Low-income, inner-city families with high income, inner-city families with high credit card debt.credit card debt.

PEO Target PEO Target High-End Remodeling High-End Remodeling ContractorsContractors

Tire Shop Target Tire Shop Target Owners of high-Owners of high-performance sports carsperformance sports cars

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A Critical Vendors Network A Critical Vendors Network is…is…

.

…a small, but powerful team of businesspersons all selling non-competing products or services to the same target market

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PestInspector Staging

Professional

PropertyInsuranceAgent

Title Company

CPA

GeneralContractor

MortgageBroker

ResidentialRealtor

Critical VendorCritical Vendor™ Networks…Networks…

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Printer

DeliveryService

InsuranceAgent

Banker

Accountant

PayrollServices

Acupuncturist

Small Business

Bookkeeping

Services

Critical VendorCritical Vendor™ Networks…Networks…

X

X

X

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401KAdvisor Temporary

EmploymentAgency

PayrollServicesCompany

Small BusinessAttorney

CPABusinessBroker

CommercialInsurance Agent

Employee

BenefitsCompan

y

Critical VendorCritical Vendor™ Networks…Networks…

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Meet Your Critical Meet Your Critical Vendors!Vendors!

Step 6…Step 6…

Put the Put the FreezeFreeze on on Cold-CallingCold-Calling

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Law of Reciprocity...Law of Reciprocity...

$

.

$

““You give, you You give, you get. You no get. You no give, you no give, you no

get!”get!”Harvey Mackay “Dig Your Well Before Harvey Mackay “Dig Your Well Before

You’re Thirsty”You’re Thirsty”

x

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Step 7…Step 7…

Refer Business to Refer Business to your Critical Vendor your Critical Vendor

TeamTeam!!

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Seven Steps to Success…Seven Steps to Success…

1 Tell them what 1 Tell them what GOODGOOD you do. you do.

2 Describe who you do it for. 2 Describe who you do it for.

3 Discover where your prospects hang out. 3 Discover where your prospects hang out.

4 Find their 4 Find their burning issues.burning issues.

5 Find out who is helping with these issues. 5 Find out who is helping with these issues.

6 Meet these 6 Meet these critical vendors.critical vendors.

7 Give business away! 7 Give business away!

Short-Short-TermTermResultsResults

Long-Long-TermTermResultsResults

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11° ° of difference…of difference…

$4,000

$50,000+

x

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The Long-Term…The Long-Term…

Puts you at Puts you at the hub of the hub of 57 Growing 57 Growing Businesses!Businesses!

x

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Network Network StructureStructureNetwork Network StructureStructure

x