Closing Deals with The Referral Lunch Technique

Everyday I hear people tell me that the best way to produce business is through referrals and I wholeheartedly agree. However, talk is cheap and the people that tell me this have no idea how to “work” a referral. Most will simply pick up the phone every now and than when times are tough or business is slow and ask past clients for a referral, or see where they are in terms of purchasing again. This is what I call a crap shoot approach and at best, may land you a new client every now and than, but in no way will make a significant impact on your income and client base. You see, you need to think outside the box and GIVE something in return for referrals. Too many people just ask, ask, ask with no incentive on the back end for the people that give them. If you want to triple your business and client base immediate for pennies on the dollar, simply employ what I call the “Referral Lunch”.

The process is rather simple and the rewards astronomical. You simply pick up the phone of a past client who you feel is in the market again for your product or service, and offer to take him to lunch and go over any new developments you want to show him. The catch is that he needs to bring 2 friends with him who may have an interest as well. Individuals that are qualified and in the market for what you have to offer. What you accomplish here is a meeting with 3-4 qualified prospects who will give you their undivided attention, and allow you to present in less formal atmosphere while at the same time allowing you to create emotion in person!


You see, EMOTION and RAPPORT sell, these are the two key ingredients to ANY sale and by presenting to the referrals in person rather than over the phone, you accomplish both…..quickly. Too many people simply ask for the referral than pick up the phone and call. What is this? How impersonal? How are you able to create any emotion or any rapport by a simple phone call? In most cases you can’t and the top producers understand this that is why they are top producers!

So next time you want to call a past client and ask for a referral DO IT, but do it right! Ask them to lunch so you can update them on your new product or service and get them to bring along two qualified referrals. Your cost in this is a lunch for four, with a return on investment that could pay dividends forever.

I know a financial planner who works to fill all 5 days a week with this type of referral plan and has the immense six figure income to show for it. Every morning he sets aside 25-30 minutes calling clients and setting as many lunches as he can for the next 10 business days. Once those are booked he books out 10 more days, with a goal of having a captive lunch audience every day of the week. He told me that his lunch tab is about $45-50 a pop or about $250 a week, but he closes a minimum 3 new deals a week generating himself a commission base of an extra $4,500!!!!! That’s $4,500 folks just for eating lunch and keeping his clients a breast on his new products and services. This is how you work referrals. This is how you utilize your existing client base!!

Immigrants And MILLIONAIRES

Here is a little known fact I learned while speaking overseas recently. A fact that a CEO from a European Bank conveyed to me and it really hit home. He told me that "in the United States, an immigrant coming to your country is 4X more likely to become a millionaire than those that were raised in it." And you know what? He is right. We have the "richest poor" in the world because those that are raised in this country have a sense of entitlement and never strive to reach maximum potential. Those that come here see the DREAM and KNOW they can realize it with massive hard work. So they attack and obtain it. The entitled ones? Wait for it to fall on their lap and the end up working for the millionaire.

Food for thought.

Back From Asia...The Expansion Continues

My recent Asian Tour turned out bigger and better than I had hoped. In addition to selling out another one of my events in Bangkok at The Landmark Hotel (courtesy of Amin Rais and his company AIM Inlines), I also spoke at His Majesty The Kings Conference on A Sufficient Economy at The Rembrandt Hotel, promoted by Asean Affairs Magazine. Made some new friends and just as importantly, some key contacts (I will have a major announcement on a JV in the coming weeks) and even more importantly, paved the way to bring The Ruthless Entrepreneur Show to Asia. This is not something that MIGHT happen....it is something that IS going to happen! More on that later as well.


SOCIAL MEDIA FEEDBACK

While the trip provided me with some incredible new business and joint ventures deals and in the process allowed me to meet some exciting entrepreneurs and investors, it also opened my eyes to how "players" on the international stage are currently conducting business in today's environment. Why do I say that? Well, because over the past 2 years we have seen this craze with Facebook, Twitter, MySpace, etc., here in the U.S. and everyone and their mother are trying to become experts on it. But for all the wrong reasons!!! Sure, there are entrepreneurs using it as a tool to promote their business but the problem is, is that they are becoming so addicted to these tools that is all they seem to use as a marketing tool. Why? Because they haven't got the resources ($$$) to take themselves to the next level (major media) and stay stuck in this quagmire with 99.5% of their competition. Folks....if you want your CUSTOMERS and PROSPECTS to take your business seriously...YOU need to take your business seriously. And trust me, unless you are gaining exposure in mainstream media (TV, Magazines, Radio, etc.) you will be part of the pack and treated like part of the pack and no different.



(Back to my meetings in Asia this past month) Over the last 30 days while conducting my seminars in Thailand and meeting on various business deals, I had the pleasure of meeting a couple billionaires, media magnates, Hollywood actors, major TV and movie producers, bank CEO's, royalty, government Ambassadors and top entrepreneurs from around the globe. More than 95% of them had no interest in Twitter and Facebook, as they were too busy working on REAL PROJECTS and REAL DEALS and the tools they were using to market their projects and ideas currently were much more effective then Social Media. These were VERY, VERY successful entrepreneurs making big money on a global scale. So when I consulted with a few of them on effective sales and marketing strategies for their business, they were pleasantly surprised that I didn't talk about all that "bullshit social media crap" that has become so pervasive in the U.S. Especially the idiots on YouTube talking into a $10 camera giving advice on how to make money. Ridiculous.

THINK ABOUT IT?

• Would you hire a 400lb slob with love handles as a fitness trainer?


• Would you hire a financial advisor so broke that he drives a 1981 rusted Impala?

Then how you can expect your prospects to hire YOU when all you use is FREE social media vehicles to market your business? How credible is that?

Bottom line folks. Social Media is fun, can serve a purpose in marketing but if that is ALL you are using as your marketing foundation and want to be taken seriously AND make money long term........ Your %*^%^&) screwed! Get off your butt and begin to find ways to get your message on the national and international stage via REAL MARKETING VEHICLES like TV, radio, magazines, etc. You want to be taken seriously and be credible in the eyes of your prospects? Than begin taking your marketing seriously. If not they will continue to look at you as some hack without the resources to "play the game" and in the process let you know this through a non-ringing phone.