IP Stresser: Power networking involves the development of a team of powerful, proactive referral partners capable of producing a steady flow of referrals for your business.
In this chapter:
- Examples of power networking
- Defining networking
- 7 Myths and truths about networking
Before we talk about networking, let’s take a look at some examples of the results that some have achieved by applying the principles of effective networking. The examples we cite are mostly from Local Business Network simply because these are the individuals with whom we have worked and whose stories we know. In most cases, you can replace LBN with the words “structured networking organization”.
We share these stories to help you understand how truly powerful networking can be for anyone who is willing to learn the principles of power networking and to apply them consistently. Many who do so achieve rewards totaling hundreds of thousands of dollars. For many, business from referral partners account for 25% to as much as 90% of their sales. We hope these examples will encourage you to read further and to consider seriously the principles we teach.
Website Design Firm Finds Structured Networking its Most Powerful Business Growth Tool
Steve Hyer started IGD Solutions, a website development firm, in 1999. In 2000, he joined Local Business Network, a structured business referral organization. Steve was not only new to business, but new to networking.
For the ensuing three years, LBN referrals accounted for an average of 38% of his business. In real dollars, that amounts to six figures each year. Forming strategic and referral partner relationships with members of his own chapter and with those in other chapters helped Steve create a continuous referral stream and thus a continuous stream of new leads and new clients. Steve found the regional mixers particularly helpful in finding and developing referral partner relationships with those in the technology field.