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Who Are Your Power Partners?

Apr 19, 2021 | Articles, Networking Tips

In LeTip chapter meetings you often hear people talking about their Power Partners. Who is my Power Partner you might ask? Surprisingly it is not always someone in the same or similar industry as you are. That is the most common thought process. We often overlook the most powerful partners we could have because they just don’t seem to be strong partners due to what they do for a living.

Let’s take a closer look at what makes a good Power Partner. First of all, think about the industry you represent. I will use a Residential Realtor for this example. Realtors believe a Mortgage Lender is their partner. Wrong! The Mortgage Lender will have a few opportunities in the year to give the realtor business but most often the client comes in with a realtor in tow. The Realtor is absolutely the Power Partner for the Mortgage Lender but not the other way around. The Realtor should be looking to invite anyone who works with a home into the chapter. A few ideas would be any type of contractor that works on a home, ie. Roofer, Painter, Plumber, Electrician, Cement Mason or General Contractor. Each one is familiar with homes and works on them daily. These people know when a home needs repairs, is being fixed up to sell or someone new has moved in and needs help. Having these folks in the chapter allows the realtor to hear about homes needing to be sold or someone moving first! A few other Power Partners for the Realtor would be a Landscaper, Pool builder or Pool Maintenance, Interior Designer, Window and Floor coverings, Chimney Sweep and so many more. Hopefully you are understanding who might be able to bring you an abundance of business once they know who you are and how you operate. This is building your business because most of the business they will bring to you is from the outside. Once in a while, a member may be purchasing a home or selling a home and of course they should be using you! In some parts of the country, you are required to have a Real Estate Attorney handle the business. You need one you like and want to do business with. This is just a short list for the Realtors to think about.

Take your category. Think about what it is you do for a living. Who would be a good candidate to be your Power Partner? There are also two sides to every Power Partner. One partner should be giving you tips and the other Partner you should be giving them tips! What do I mean? As a Banker in a chapter, I knew who could give me outside business and I invited them to my chapter to join. Most did. However, I was not able to give them all business each month. I had to find some who I could personally give business to. I happened to invite my Dry Cleaner. I was able to give him business every single week! He was not supposed to be giving me business back, but he did! It was a win/win. He taught his staff how to look for signs that would lead to a small consumer loan back to me. Between us we did an extraordinary amount of business, but he joined because I selfishly invited him knowing I could give him business. Every time you invite someone to your chapter meeting it should be done selfishly in order for your business to grow.

You can actually create a group of Power Partners together to really cover a lot of ground. Doing this you will share with the entire group of giving and getting business. Take the Financial arena for instance. Start with a Banker who needs an Estate Planning Attorney who needs a Business Attorney who needs a Business Broker who needs a Printer who needs a Graphic Designer who needs a Shipping Company who needs… All of these people work together to give and get more tips. Remember when giving your 30 second commercial, you should be giving them together. Each time they think of the Banker, they start to automatically think of the Estate Planning Attorney and the Business Attorney and then the Business Broker. When they think of one, they soon learn to think of all. Everyone is receiving more business. Think about creating your very own Power Partner chain and see who joins because you all are there together. It is very powerful to see happen and results in a lot of good business for each one in the group!

POWER PARTNERS… who are yours?