Business Advice Tip #20: The Value of a Host Beneficiary for Business Owners
So 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 others clients so it is a two way deal. A host beneficiary is less of a two day 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 when talking about the offer for the host.
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!
To make a difference in your business you have to change the way you do things – including your attitude. Let us motivate you and your business and get you started on the road to positive success. Attend one of our upcoming profit building seminars and take the next step.
To get started today click the link above. We look forward to helping you grow your business and making the kind of money you always thought possible
What are your business goals?
Business Coach, Jim Malski featured on Channel 12 News - click on the image below to watch the video
What are your business goals? Jim Malski – Channel 12 On The Money discusses what questions small business owners should be asking themselves.
Would you like to Learn How You Can Increase Profits and Leads in Your Business? If so, here is how you can take the next step:
Attend our ActionCOACH Networking Night on Aug 4th to register CLICK HERE
To get started today click the link above. We look forward to helping you grow your business and making the kind of money you always thought possible.
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