This is part 3 of 3
Part 1 is here. Part 2 is here.

The Question...

>>>>> How do I turn the Team 100 idea into long-term revenue/referral streams? <<<<<<<<


Last week...
1. I shared with you the steps of how to organize your Team 100 project.
2. I also provided a sample letter that you can send to your network in order to connect with them and get them on your official Team 100 list.  
3. And I promised to show you how to turn this simple idea into a marketing and referral machine.



How to 'convert' your network into a lifetime of revenue...
Most professionals I've met agree that getting referrals from their professional network is a good thing because the clients are prescreened and there isn't a lot of marketing effort required.  The phone just rings and new clients appear.

No brainer.

But how to do maximize the number of referrals you're getting in order to have enough clients coming in that you can safely rely on your network to keep your practice full, really full?

That's where the Team 100/250 approach comes in.  Think about it... If/as you manage this team, you are, in effect, gaining access to 5,000-25,000 other folks -- the clients of those in your network.  And this access is what will help fill your practice and keep it full for a lifetime. 

Here are the steps to maximizing your referrals and revenue...
1. Appoint yourself as the host of this network of 100 or 250 professionals who you have put on your Team 100 'dance card.'  In other words, be their mayor.  (No need to tell them, however.)
2. So, now that you are the mayor, ask yourself, "What do my constituents need most that I can provide for them at a very small cost to myself?"
3. The answer?  Training in how to build their practices via referrals, and the Team 100 in particular.  95% of professionals want and need new and/or better clients.  And YOU can show them how.

Oh sure, but how...
It really is simple to get the ball rolling as 'mayor' of your network.  Over the next year, here's all you have to do...

1.  Send a monthly note and updated Team 100 list to your network so they will have the most current 'yellow pages' of who's good in the various professions.  You need to be consistent with this mailing (or emailing) each month.  In effect, the monthly list/email also works as an effective reminder that you are there!  And it provides value to the recipients because they have the most current list/info and seeing themselves on this list hits home.

2.  In your monthly note, include this type of info:
--A simple profile of 2-3 of the folks on your list, written by them!  This makes it newsy and helps to bond/connect the group.
--An update on YOUR practice and the work you are doing, and with whom.  Make it personal about you.  Your network is curious.
--A couple of mentions of special offers made by those on the list/network.  This adds a little more incentive for folks to read your note.
--A mention or two of how the Team 100 works and is working for folks.  This builds credibility/evidence.

3.  Offer special stuff, from time to time.
--Personally, I'd offer a free TeleClass (you can rent a 30-150-person telephone bridge cheap at coachu.com) where you teach something you know to your constituents and invite others in your network to do the same.  This builds community and increases the profile of the 'members.'
--Offer a hotline to folks one day a month where they can call you gratis and get help on your subject of expertise.  99% of folks will not call on that day, but they will quickly form the opinion that you are accessible/generous.  And, they will call or email you later.

That's it?  That's all I have to do?
Yep.  We're talking a max of 5 hours a month to do/manage this, and less than $100 in costs.  Wouldn't you rather support and manage your network and benefit from the resulting referrals than to constantly market for new clients?

What's the catch?
Hmm, let me think.  Okay, I think there is a catch, but it's an interesting one.  The catch is that you have to 'expand' your role with this group.  Meaning to take a leadership position without asking for permission.  And to take the time to care and to find out what the folks in YOUR professional network most want and need.  And then to find an ultra-low cost way to deliver on that.  This can take a little reorienting in your thinking to evolve into this larger role with your network.  But once you see the impact you're making -- and when you receive your first referral from your Team 100 -- you'll be hooked and encouraged to continue.

The moral of the story...
If you could work with just 1% the 5,000-25,000 clients of the other professionals in your Team 100 Network, would your practice be full?  Yep.

Resources


Team 100 Form (pdf)
Sample letter to send to network
Introduction to this idea

Next week...
Pay-per-click search engines.  How they work and comments from some professionals who use them.

Have a great week. 

Best,

Thomas

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