Power Partner Networking

Articles, Networking

I have always considered myself to be a very active networker. This includes social networking. I own and operate, as a business, a B2B networking group.  Being primarily an introvert, none of these activities are particularly comfortable for me.

I often struggle being in larger group settings. Actually, not so much. I avoid them. Oddly, I thrive in front of groups. I am, however, very good at one-on-one engagements and power partner relationships are built in this manner. 

In 2006 I decided to leave management and go back into selling. I started my management career in 1979 so it had been awhile since my primary function, and how I was going to be paid, was to be based on sales alone. I was excited to do something fun for a change!

As a commission-only independent contractor, I was starting from scratch (no accounts or even leads), I needed to formulate a plan. I got out a map of the city, broke it into quadrants, and drove every stinkin’ street writing down every potential opportunity that I could find. At night, I entered each into my CRM. 

At the end of the first month I had over 500 entries and … I had no idea of which, if any, were valid possibilities. I now needed to figure out how best to qualify each. My solution was to tear up the entire list (not joking) and pursue a completely different prospecting strategy.

So, what is a “power partner networking“? 

I would have to say that it is the highest and most effective form of networking. Period. For quite some time I had been unconsciously practicing power partner principles but never as a part of any formalized plan. Folks had always been happy to refer me to potential clients and I was most appreciative of those referrals!

I still had contacts in this industry although it had been several years since I had actually worked in it. My plan was to contact each and every one of the key people who I knew who were in the best position to refer me to potential clients. They worked directly with the same folks that I wanted to get in front of.

We met for coffee, breakfast, or lunch and discussed how we might best assist each other and then we agreed to meet again and to do so regularly!

It can get tricky

This was an interesting dynamic because these folks were generally what I would call top feeders (people who work early on with my potential clients) and I would be a bottom feeder (the guy who generally came into the picture later).

This required some creativity on my part because both parties have to receive value in any power partner relationship and they would be much better positioned to refer to me rather than I to them. 

Let’s just say that I always picked up the check. I also rewarded them for their referrals and I offered them a range of my services for free that they could use to provide additional value to their clients.

Then there is the situation where you may wish to build relationships with multiple people in the same industry. Who gets what? While you will need to give this some careful consideration, you may find someone who specializes in one area of a market and one who focuses on another. Office vs, industrial, for example.

I learned some interesting things along the way!

  • If for one minute you think that all the other guy does is think about you, regardless of how much they like you, think again!
  • However, when I called them to schedule lunch, they always had a list of folks for me to call on.
  • They also asked me to put them on a regular call schedule just to check with them to see if they had anything for me. No lunch involved.

Here was the biggest eye opener for me. I was always frantic about whether or not I was providing them with enough in return. Consistently, I got the same answer …

“We like referring our clients to you because we know that you will always take care of them. Our referring you is a value-added service for our clients, it is one less aspect of our deal to worry about, and if we do hear about it again … it is them thanking us for referring you.”

Read that closely and let it sink in. Referring someone is a tricky proposition. If it all works out, you are the hero. If it doesn’t, you are the bum. There is more to lose than there is to gain. 

Becoming referral worthy

To earn these introductions, you must be referral worthy and the only way that you can become that is by the consistent demonstration of professional attributes …

This means that you also want to be choosy about who you will refer. Look for the best in class and for those people who display these same professional qualities.

The proof is in the results

So, how did my plan work out? I spent three years in sales before deciding to go into consulting full-time. I built my networking group during this time. In fact, at one point I had three (I’m semi-retired now and I have scaled that back down to one). 

During those three years …. I worked exclusively on referrals. Never made a cold call and I was busier than a one-legged man in an ass kicking contest. My closing ratio was well in excess of 80%. What’s not to love about that!

Who would make great power partners for you?  

I’m going to look at my own networking group for some examples. Yes, even within a formal group setting these subsets (power partners) can and should be cultivated. We have …

  • A business attorney, commercial lender, and a financial advisor = Professional Services Power Partners.
  • An architect, general contractor, and a soil testing company = Construction Services Power Partners.
  • A sign company, business furnishings, and an alarm company = Business Services Power Partners.

I could go on and on and many of our members could easily find themselves in more than one of such groupings. When I was selling, my power partners were commercial realtors, architects, developers, and general contractors. Get you some of your own!

Manage your system

In order to maximize your effectiveness, I think that you are going to want to use a good CRM. I represent Nimble as an independent solution partner. In Nimble I can …

  • Maintain complete contact records on customers, prospects, and power partners.
  • Using tags I can group records together in any manner that I like including my power partners.
  • I use tasks and events to schedule meetings as well as to remind me to get back with folks at a specific date and time.
  • My stay in touch reminders are set to ensure that I engage with my important people on a regular basis.
  • I can track referrals given and referrals received, by power partner, in addition to the source of any lead.
  • My pipelines track opportunities (deals) and will soon track leads as well.

If you have any questions or if you would like to learn more about Nimble CRM, please book a free 30 minute Zoom consultation with me by going to my calendar at calendly.com/craigmjamieson. 

Craig M. Jamieson

Craig M. Jamieson

Managing Member at Adaptive Business Services
Craig M. Jamieson is a lifelong B2B salesperson, manager, owner, and a networking enthusiast. Adaptive Business Services provides solutions related to the sales professional. We are a Nimble CRM Solution Partner. Craig also conducts training and workshops primarily in social selling and communication skills. Craig is also the author of "The Small Business' Guide to Social CRM", now available on Amazon!
Send this to a friend