Basic Operations:

1 minute elevator speech

The first thing a new networker needs to learn is to be able to tell someone in 30-60 seconds what they do and what kind of referrals they need. The more precise the request for referral the better. For instance one might ask,”I would like to meet someone from Home Depot.” This is too vague. Instead you should ask,” I would like to meet the general manager of the Home Depot located on Main Street.” In a group of 30 members, it will surprise you who knows different people in the area. By being precise in your referral requests the listeners will exactly what you need and respond.

The elevator speech is given during the meeting by all members and visitors. Each in turn is asked to stand and give their name, what type business they are in, and who a good referral for them would be. This is timed by the secretary. At 50 seconds he or she holds up their finger as if to say, ”Excuse me!” At 60 seconds the secretary asks them to sit down. This exercise trains the member to be quick and answer a question from a stranger they might meet about, “What do you do?” and keeps the meeting from being too long.

10 Minute Commercial

Each member is given a 10 minute time slot once every so many weeks to discuss his business in detail and to bring materials for show and tell. This allows the member to reach all of the membership at one time and hold them captive for 10 minutes. 2 minutes at the end of the presentation are allowed for questions.

The secretary will allot time for one member per week to speak. This list will run through all members until each has had a week to present, and then start up again, making sure that new members are inserted near the head of the list as they are admitted to the group.

At the last meeting of each month an outside speaker from the community that will have relevant information for all members of the group is asked to come in and speak for 30 minutes. This meeting does not schedule an individual member to speak unless an outside speaker is not available

Referrals

Referrals and leads are two quite different items. Unlike a lead (where just a name or number is passed), with a referral the referring member takes a more active role of promoting the other member’s business with the referral prospect. The referral prospect is told that they are being referred to a member of the networking group and that they should expect a call from this member. Statistics show that referrals result in acquired business 80% or more of the time while leads generate business less than 20% of the time.

Referrals are encouraged within the group and leads are discouraged. Referrals are passed by way of a 2 piece referral slip. The top goes to the member being referred and the bottom copy goes to the secretary to be recorded. This is done at a particular time in the weekly meeting and every member and visitor gets a chance to stand up and pass on their referral slips.

All member and guest referrals are entered into a master spreadsheet and tracked. Is this manner, the leadership team can keep track of who is giving and getting referrals. This allows the leadership team to know if a member needs help with their 1 minute speech or their 10 minute commercial, or needs to interact more with the members with the 2 for 20 individual meetings.
Also, by tracking these referrals, we can drop the member’s name who gave the referral in a hat at the end of the month, one chance per referral given, and whoever’s name is selected will win a $35 gift certificate to a restaurant in the area. This further incents the members to bring in referrals.

2 for 20’s

Members getting to know one another greatly increases the flow of referrals amongst themselves. The process of getting to know each other is called a 2 for 20. Members are encouraged to meet one on one with each other during the week outside the weekly meeting and spend a minimum of 20 minutes together talking about their businesses and how they can help each other.
During these meetings members learn about the others accomplishments, past business dealings and how they might be able to help each other, perhaps in ways they never imagined! This is where much of the networking takes place.
These 2 for 20’s are recorded on a slip of paper showing who met that past week and what they discussed. If a member is not getting referrals, one place for the leadership team to look is at that members 2 for 20’s. If they are not doing these individual meetings, then perhaps the membership is not getting to know them and not realizing how they can help. These slips are turned in to the secretary at the same time referrals are passed in.

Closed transactions

This is the best time of the whole networking experience! When members go around the table turning in their referrals and 2 for 20’s, they also get a chance to turn in a slip of paper detailing the amount of money they have received due to a referral generated from the group. Usually, members will applaud as each new closed business slip is turned in. This is the whole reason for the network group to exist. Without the closed business the group becomes a social club.
The slips used for recording the closed transaction is, of course, green. These are kept on the master spreadsheet so that when a member comes up for renewal to the group, records are available to show how well the member did. If they recorded $5,000 in closed business, the renewal fee to rejoin the group will seem very small.

Visitors

Visitors are not only welcomed with open arms, but are necessary to the development of the group. Statistics show that each visitor to the group will spend on average $1,000 within the group. This is also where your new members come from. Members should be encouraged each week to invite guests to the weekly meetings. Even if they do not join they will be exposed to the members of the group and could generate future business for them. Members bring quests are recorded by the secretary and receive a chance for each guest brought to win a $35 gift certificate at the end of the month.

Visitors are allowed to visit for a period of forty five (45) days at which time they will be required to submit an application for membership or discontinue attending meetings.