Referral marketing has been proven to be the most powerful form of advertising practice for most small business owners and self-employed individuals. However, it’s surprising how few of these business owners harness the true potential of referral marketing and use it as the cornerstone of their marketing efforts.
For any entrepreneur, one of the most important keys is to build a solid network of contacts that you can rely on, both as client base and also for help with your business. Many people network naturally, and others need to work on it more. There are many ways of networking and opening up and expanding your contact base.
There are a lot of networking events in and around our city, many organized by various chambers of commerce and the Toronto Board of Trade. There are also networking groups such as Le Tip. These groups typically meet once a week, most often as early breakfast meetings, and one person within each category / type of business is represented. For example, a typical chapter will have one lawyer, one real estate agent, one web designer, and so on. They have chapters all around the city, so it’s definitely worth your while to find one in your neighbourhood and visit first as a guest to see if you connect with the group. Individuals that are part of these types of networking groups are encouraged to help each other out by giving referrals.
Aaron Grinhaus is a lawyer specializing in corporate and commercial law and a member of Le Tip midtown Toronto chapter, a group that meets every Wednesday morning in the Yonge and Eglinton area. As he describes, “There is a difference between our group and a 'referral' group. We are a 'Networking' group. In other words, we do trade off referrals, but we also support each-others' businesses by providing our own unique expertise to all our members, so that we all benefit from our varied experiences and we all grow together. I am always willing to field a phone call from a member of our group to answer legal questions, and they know they won't get a bill for it. We use our knowledge to benefit one another and have created a unique friendship based on our mutual professional respect.”
Ben Sharma is an Investment Advisor and Financial Planner for BMO Nesbitt Burns Inc. in the Private Client Division, and adds "I always see this group as my board of directors of business, I also use the expertise of the members to bounce ideas and discuss issues with them."
Le Tip midtown Toronto member John MacEwen was an engineer that designed and optimized cellular networks before getting into real estate. “I've also always had a bit of an entrepreneurial side that was held back in the corporate world. The concept that the harder I worked and the better I got at what I do could have a direct impact on the level of success that I could achieve was very attractive to me. The competitive part of me loved that concept.”
John sees participation in the group as a positive experience and adds, “It's all about creating power partners within the group that can help each other out.”
Particularly if you are new in business or new to the city, it’s a great way to expand your network and get even more connected and meet new people. A well run and close knit group such as this can be seen as a family, constantly helping each other out not only with referrals, but advice and friendship. Le Tip midtown member Cory Fry, who has just launched his own company Xurbo helping companies with their claims for the Scientific Research and Experimental Development (SR&ED) tax incentive program, was new to the city of Toronto 3 years ago, and has so far found the group to be extremely helpful in making new connections. “I’m originally from the Windsor area, and being new to the city, I needed to find a way of getting new clients and making friends and contacts. Le Tip became the foundation for a new network of individuals and business all with the common goal of helping each other in a variety of ways.”
Le Tip midtown Toronto president Daniel Faust, an Investment Advisor RBC Dominion Securities, is dedicated to the group and finding new members that will fit in. “We’re basically looking to grow our group and find good people who will share our dedication and desire to form a solid team with the goal of exchanging meaningful business referrals but at the same time forming lasting friendships. We’re not necessarily looking for quantity, but rather quality in the individuals we accept into the group. We also have a number of unique upcoming initiatives that we are looking to focus on as a group, such as creating a new internet web portal and pool our resources in marketing and attracting new business.”
For more information about the group and view a list of current member categories, you can visit their page Meetup page at http://www.meetup.com/The-Toronto-Midtown-Business-Referrals-Meetup-Group/
If you are interested in learning more or just looking for ideas or creative and unique ways to promote and grow your business, visit our website at www.motionsmedia.com or contact us by email at info@motionsmedia.com. Check back for more information about upcoming shows and events.
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