How do you get leads in your business? Typical responses include:
- Networking
- Referrals
- Direct Market
- Web sites/internet
- Strategic Alliances
- Etc.
There is one opportunity that is often overlooked and that is a host beneficiary.
This is often confused with strategic alliances, but they are different. In a strategic alliance, you are going to introduce each other to each other’s clients so it is a two way deal. A host beneficiary is less of a two way deal.
Before you embark on a host beneficiary relationship it is key to know your acquisition cost. Understand how much money you need to spend to find a customer. This is crucial for the host when talking about the offer.
Here’s how it works. Let’s say you are a business attorney who wants to meet business owners and build your business. You have a relationship with a guy that owns (or runs) a commercial management company. So their role is to manage the buildings, work with the tenants and most importantly collect the rent.
Most business owners are terrible at keeping up their minutes so that their corporations are intact. As the attorney, you turn to the commercial guy and offer a years worth of minute review and creation to all of their clients. That way, the commercial guy introduces you to perspective clients and the clients love the commercial guy for it. The trick is making the offer LARGE, almost as large as the acquisition cost (lets say 50%+). Often times, people try to do Host Bens on the cheap a free workshop or lunch. Put some meat on the bone so that that host and the host’s clients get excited about the offer and watch your business explode!
About ActionCOACH
Brad Sugars founded the brand Action International in 1993 when he realized there was a disconnect between business advice and implementation. The answer was Action! Brad Sugars created a business coaching company so that business owners throughout the world can realize their goals in business. Today the company is known as ActionCOACH. To learn more about business, visit Brad Sugars Review blog!
