Networking and The Prospecting Pinwheel
When I went through Sandler Sales Training (the best sales training ever by the way….) I learned a concept called the Prospecting Pinwheel. The idea is for sales reps, entrepreneurs, and professionals to draw a graphical representation of their sources of new clients. You start by drawing a circle and then cutting it into sections like a pie. Each section represents a source of new business; popular sections typically include: cold calling, direct mail, networking events, natural market prospecting, referrals, repeat business, etc.
So what does a prospecting pinwheel have to do with Networking? Simple – Networking and the referrals one receives from networking should be a HUGE part of your pinwheel. Networking and referrals currently account for about half of my prospecting pinwheel in my business.
If you’re not currently attending a variety of Networking events (there are many types of events by the way – each of which delivers its own form of value) as a source of new business you’re missing out! Structured networking groups or ‘tips’ groups are by far the most direct way to use networking to develop new business but attending any type of networking event is better than attending none! If you want to generate qualified referrals for your business consider joining or starting a business networking group near you.