Focus Your Networking on the Cash Cows

Let’s agree that there are different types of referrals from networking. The referrals that have a little business for us and those who have a LOT of business for us—also known as the Cash Cows.

Client example: A real estate broker client of mine has redirected her entire networking efforts to rub elbows with those who have a LOT of business for her, rather than just a little business for her.

During our coaching, we realized that she could either network with INDIVIDUALS (who sell one apartment at a time) or DEVELOPERS (who need to sell 15 units at one time). When the light bulb went on and after screaming EUREKA!, we looked for associations that she could join to create lasting relationships with real estate developers (Professional Women In Construction is one of them). She will now be networking there regularly and maximizing her networking to reach Cash Cows (i.e., getting a referral to sell 15 units rather than just 1). Next, she’ll be targeting architects. If she keeps this up, she is on her way to become an apartment selling machine!

Your Client Attraction Assignment:

Instead of going after ONE client at a time in networking, think about those people who have a LOT of business for you, instead of just a little business for you. Make a list of these.

Then visit the web to see if they have an association you could belong to. If they’re local, join the association. If they’re not, offer to write a monthly column for their association newsletter or speak at the annual conference.