Posts Tagged ‘Rungs’

In Part 1, we talked about the 3 steps on the ladder that we go through whilst developing Visibility in the relationships that we have.

The first step is Awareness, that moment in time when people first come into contact with us.  Either when they meet us in person or when they hear about us, in whatever way that may happen.

Step 2 is Familiarity.  This is the point when people start to recognise you or your name.  Interestingly, you don’t have to actually meet people to get on to this second step.

Step 3 is when people start to Know & Like you.  This is when the relationship is starting to develop quite nicely, ready to move it on to the next phase.

The next phase is all about building Credibility and the steps we need to move through in order to gain credibility in our relationships.

Steps 4 & 5

You know when you’re on the 4^th and then 5th ‘rungs’ on someone’s relationship ladder when they start to display a level of Confidence and then Trust, both in you and in what you do.  This is a very important development in your relationship and moves you in to the realms of having Credibility in this particular relationship.

People are very unlikely to refer a personal contact to anyone that they don’t see as being credible.  At least, not without making that referral with lots and lots of qualification and, effectively, removing any endorsement of the person being referred to their contact.

Given that the type of referrals we all look for are those that are accompanied by a powerful endorsement of us, and of what we do.  Having a high level of credibility is essential if we want to achieve this.

So what are some of the things that you can do to make sure that people develop Confidence and then Trust in you?

• Keep developing the relationship – and develop it socially, as well as from a business perspective.  The more that people like you, the more confidence they will have in you and the more inclined they’ll be to trust you.
• If you want to be trusted, be trusting.  Personally, I always assume that I can trust people, at least to some degree, from the moment I meet them.  I may not show them a major level of trust to begin with but I adjust that level based on results – and people can go down my scale of trust much faster than they can move up it.  Of course, if they do move down the scale, they have to work far, far harder to move back up it, again.
• One way of showing confidence and  trust is by giving referrals to the people that you would like to have refer to you.  It’s one way that we can invoke the Law of Reciprocity.  It may be that you qualify those referrals in the eyes of your contacts.  i.e. Tell your contact that you don’t know the person you’re referring them to, that well, and that you aren’t personally familiar with their work so can’t endorse it.  On those occasions where your contact may have to resort to Yellow Pages or Google, talking to someone that’s known, even just a little, is no bad thing.  They should just be considered on an equal footing with those people from the directories but the great thing is that you have given something in your new relationship.
• Always make sure that you do what you say you’re going to do, no matter how small that thing may be and no matter whether it’s a business or a personal undertaking.  If you don’t do what you say you say you will do, it will affect the way that you are perceived.
• In a similar vein, don’t promise to do something if you can’t do it well.  Rather, refer someone that can do it well.  The fact that you’d be willing to do something badly wouldn’t reflect well on you.
• Make sure that you have a high level of knowledge and skill in your field so that, whenever you have occasion to demonstrate that knowledge or skill, you can do so, effectively.
• Give knowledge, skill, information and introductions whenever you can.  Doing all of these things will help build your credibility, particularly, if you’ve gone out of your way to help and don’t expect anything in return.  So, do go out of your way to help and don’t expect anything in return.  If you do that, everything else takes care of itself.
• In your business, always deliver your product or service to the highest standards.  Always focus on looking after your clients and making them feel valued.  Don’t give anyone any cause for complaint, no matter what lengths you need to go to.  Why?  Because people that are just getting to know you will ask their contacts about you – and you never know who those contacts may be.  At the end of the day, if you want to get referrals, you need to be referable.

Of course, there are many other things that you can do.  Just use your creativity and I’m sure that you’ll come up with things that I haven’t thought of.  And if these things also happen to relate to your business in some way, that would be an added benefit.

Bear in mind that it does take time to gain credibility and, as everyone is different, some people will require more time than others.  But you can affect the time taken by investing more of your own time in to doing more of those things that will build the relationship.

As you do more of these things, so you will move up to Step 4, Confidence and then to Step 5, Trust.

Never forget that you’re in control of the process involved in moving up this relationship ladder.  You simply have to take action and engage in those activities that will build the relationship.

From steps 1 to 3 we built Visibility in our relationship.  Having moved from step 3 to steps 4 & 5  we’ve now firmly established our Credibility.

Tune in to part 3 of the 7 Steps to a Profitable Relationship to find out about the last two steps that will bring us the Profitability that we’ve been working towards.

Steve Bimpson

For those of you familiar with Dr Ivan Misner, the founder of BNI, you may be familiar with his formula for developing profitable relationships;

V + C = P

Where V = Visibility, C = Credibility and P = Profitability.

The key thing to note, here, is that relationships don’t just happen, you have to work at them to develop them to the point where they become profitable.  It’s also worth noting that ‘profitable’, in this context, doesn’t necessarily relate to a monetary profit.  The important thing is that there should be a mutual benefit gained by both parties in the relationship.

Yes, you can apply this philosophy to any kind of relationship, not just a business networking relationship.  It applies equally to the mutual benefit gained through developing a relationship with your life partner, your children, business contacts or friends.  In fact, it applies equally to any type of relationship you can think of.

For me, a truly profitable business relationship is one where the parties involved are keen to refer one another to business opportunities.

This is referral networking.  You might think of a profit as obtaining a sale.  And there is value to this, but building that relationship to the stage where there is a desire to refer one another is the pinnacle that we should be aiming for.

I like to break down this relationship building process into smaller chunks to help me understand and grade the relationships that I have with different people.  And I think of these steps as the ‘rungs’ of a ‘ladder’ that I wish to climb – Hence, “7 Steps to a Profitable Relationship”.

It probably seems obvious to say this but I’m going to, anyway.

You have a different ‘ladder’ for each individual relationship that you have and you’re, almost certainly, on a different ‘rung’ of the ‘ladder’ with different people.

So, if you have relationships that you don’t think are bringing you the reward that you think they should be, whatever kind of reward that may be, understanding this philosophy will help you realise which ‘rung’ you’re on with those people and, more importantly, it will help you to identify what you need to do to move that relationship up the following steps to where you want it to be.

The first 3 steps on the ladder relate to building your Visibility.

Step 1

The first ‘rung’ on the ‘ladder’ is Awareness.  It’s that point in time when someone becomes aware of you – and it only happens once.  They say that you only have a few seconds to make a great first impression so this first step is quite important.  However, if you don’t quite make the first impression that you’d like to, all is not lost.

Building a relationship is a process and all processes take time.  You do have control over how long it may take because you can choose how much time and effort you put into building that particular relationship.

But, you shouldn’t be seen to be rushing it as that will send out the wrong message.

So, how do people become aware of you?  That can happen in a number of different ways and, as I’m relating this specifically to the process of business networking, I’m going to talk about the ways people may become aware of you from a business perspective.

This is not a definitive list of how people may become aware of you but it should give you the general idea.

• You may meet them in person either at a business networking meeting, a business meeting or socially.
• You may send them a piece of direct mail or an email.
• They may get referred to you.
• You may talk to them on the telephone.
• In the world of social media you may ‘connect’ with them through LinkedIn, Facebook, Twitter, Ecademy or any other of a plethora of social media platforms.
• They may contact you in response to an advert or other marketing activity.
• They may hear about you by reputation.

There are other ways that they may cross your path but the point is, this is the first time that they ever come across you and it’s the very first step towards building a profitable relationship.  In fact, this first step may involve them coming across you more than once.

Step 2

You get on to someone’s 2^nd ‘rung’ of the ladder when they develop a degree of Familiarity with you.   By familiarity, I mean that they at least recognise your name.  It’s entirely possible to get on to the familiarity step with someone simply because they come across you on more than one occasion.

For instance, the following could happen;

• You send a piece of direct mail to someone and it creates enough interest for them to read it and take note of it.
• Perhaps they may have a possible need for the product or service that you mentioned in your direct mail piece but they’re still doing their research.  So, you follow up with a further mailing.  Or
• You follow up with a telephone call or an email.
• Because of their interest in what you do they speak to a few colleagues or associates to see whether any of them know you – or know of you.  Perhaps one of them knows you quite well and endorses you.

Each of these steps represents another event that causes them to come across you again.  As a result, they start to develop that all important Familiarity.  You’re now on the 2^nd ‘rung’ of the ladder.

This is just for illustration but, hopefully, you get the point.

Now, it’s not essential that you have to actually speak to someone for you to move up to the second ‘rung’ on their ladder but you will have to speak to them if you have any aspirations, at all, to moving up to their 3^rd ‘rung’.

Of course, a face to face meeting is even better.

Having said that, I do know a number of people that build relationships using nothing more than social media and a telephone.  They simply don’t do face to face at all.  In fact, sometimes, they build relationships over long distances or internationally which makes it very difficult for a face to face meeting, in any case.   Maybe, it’s those occasions where face to face is very difficult that has led to this creative use of Social Media and a phone.  Sometimes, there’s just no alternative.

I must confess that, as a fan of face to face communication, I used to find it a little strange to think about building a relationship without meeting.  But some people have developed hugely profitable relationships without ever having met and I’ve made a point of learning as much as I can about Social Media Marketing to enable me to build strong relationships over long distances.

Step 3

The 3^rd ‘rung’ on the ladder is when people start to get to know & Like you.  In this instance, I’m going to work on the assumption that you’ve now met them in order to move up to that all important 3^rd step.  Of course, although we don’t want to appear to be rushing the development of the relationship, we do want to move it forward as soon as we can, and you may like to consider some of the following steps to help move you to that 3^rd ‘rung’;

• Meet for coffee.
• Meet for lunch.
• Give them something that they will value.  A report of some kind relating to some aspect of their business.  Or some useful information of another sort.
• Do them a favour.  The bigger, the better.
• Introduce them to someone who will be a great contact for them.
• Help them to overcome a particular challenge that they’re having.

Do you get the idea?

Remember.  Whatever you do, whatever you give, do so without expectation of anything in return.  Do it without attachment.  You see, if people think that you’re doing something simply to get something in return, they won’t see what you do as being sincere and they’re less likely to want to give to you, in return.

On the other hand, if you have no expectation of getting anything in return you will come across as being completely genuine and they will want to give back to you.  It’s the ‘Law of Reciprocity’ in action.

You see, it’s not just important for them to get to know you but, more importantly, they need to get to like you.  If they don’t like you, you’re highly unlikely to get on to that 3^rd ‘rung’ of the ladder.

So, you’ll only get on to the 3^rd step when they start to Know & Like you.

These are the 3 steps in a relationship that build your Visibility.  In the next part we’ll look at those steps involved in building your Credibility and, from there, moving you into Profitability.

See you next time.

Steve Bimpson