Looking for a New Opportunity to Increase Growth

14561581102_472fb7425c_zIn my 30 plus years of working with a variety of business owners, their vision, drive and entrepreneurial spirit never ceases to amaze me!

When working in a consultancy business, owners often work up to 100 hours a week in a busy season or during a huge campaign, but when summer comes, or tax season is over, or whatever the reason they are hit with a slower period, resulting in decreased revenues. These business owners share with me how they are looking forward to the next juicy new client, business acquisition, or new advancement in their industry to boost their monthly revenues and increase growth.

I have shared with many of my clients that run their own consulting business that they might be interested in leveraging their expertise and owning a TAB franchise. This would be a complementary business to your current business that will provide recurring revenues, and give you an opportunity to help other businesses grow.

As a TAB franchise owner, you can create a new revenue stream while keeping your existing business. A TAB facilitator is a franchise owner, who runs their own TAB boards and provides business coaching to business owners. However, this does not mean selling your business and buying a new one, it means owning a new complementary business that will provide recurring monthly revenues and new growth opportunities for your current business.

For example, if you are an accountant and run a small accounting firm, and now are also a TAB facilitator, you can see revenue growth in your current business if your TAB members (business owners) need your accounting services as well. Although you cannot make them use your firm, or suggest that you are the only firm, the fact that you are already working with them and their business might go a long way when they are considering who to hire for their accounting needs.

Adding a new business to your existing business requires a lot of thinking, specifically about whether you have the fundamental operational aspects of your current business in place. You’ll need to look at whether you have a strong foundation in terms of staffing, operations and processes in place, because being a TAB facilitator will require you to be out of the office perhaps more than you already are, and you don’t want to sacrifice current business integrity or revenue for this new business venture.

As a business owner with vision and growth on your mind, you might want to consider becoming a TAB facilitator. It’s an opportunity to do what you love, make a real difference with others, leverage your expertise and receive recurring revenues. Contact me to discuss how to get started.

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Business Growth: How to Build Business Relationships After a Networking Event

rawpixel-com-267082.jpgIn previous blogs, I’ve discussed how to effectively attend networking events. You’re now quite adept at working the room and making the most of your opportunities. And, some of the connections you’ve made have the potential to develop into valuable business relationships. However, attending the event is only the beginning. Whether or not you’re able to build successful business relationships after attending a networking event depends on how well you follow-up.

Business owners often share with me that their networking event was not successful because they didn’t get any ‘real’ leads, but the truth is, that leads are not built in a day and this is why follow up after attending a networking event is so critical. In order to build business relationships after a networking event, you’ll need to follow up. I’ve outlined below seven tips I believe will help to increase your success at the networking events:

  1. Review and prioritize the connections you made: Review your notes and the business cards that you collected. Google the people you met and interacted with. Make a list of the ones that you believe could be a potential client, strategic partner, vendor or referral source and prioritize in order of importance.
  2. Send an email within 48 hours: Send a quick “nice to meet you email”, and personalize it by mentioning some of the things you discussed at the event. Suggest a face-to-face meeting for coffee or lunch and include a few date/time options.
  3. Connect on LinkedIn and other social media networks: This will help you build your online connections and a potential referral network. Connecting on social media also ensures that you and your connections will always be able to contact each other.
  4. Pick up the telephone and make a call: We’re so used to email, social media and text, that making a phone call has become a novel idea. Pick up the phone, have a chat and suggest a time to get together.
  5. Deliver on any promises that you made: In the course of discussion, did you promise to send your new contact some information he/she was looking for? Deliver on your promises as quickly as possible.
  6. Introduce people to each other: Add value. You may have met someone who you believe would be a great connection for someone else that you know. Make the connection. They’ll both thank you for it.
  7. Create a monthly follow-up plan: Building relationships takes time. A monthly follow-up plan will help you cultivate your contacts and build successful business relationships after attending a networking event. It’s also a great reminder.

Are you following up after attending networking events? Want more advice on building successful business relationships after attending a networking event, or general advice from other business owners like you? Find out if a TAB Board is right for you!