Keys to a Successful 121 Approach
Keys to a Successful 121 Approach
This week we are going back to basics with a focus on the initiating, preparation and keys to a successful one to one.
For our visitors, we treat this Chapter as a business and hold ourselves accountable to work through a referral process where we understand each other’s business and refer opportunities to generate revenue and make us more successful. We measure results and drive improvement.
One metric in that measurement is the average value of revenue per seat in this Chapter is about $213,000 which we are pretty proud about.
So, between each Tuesday we all meet in the format of a 121. This involves Preparation, Collaboration and Follow up.
Here are some thoughts on each part of the 121 process
Best results in preparation come from:
- Completing a template called the Dance Card which enables someone to understand the person, their interests and passions, their business and what to look out for in their network that could lead to referrals
- Having a good look at the other person’s website, social media etc. in advance is very helpful to build understanding and think about the applicability of these services in your world – that’s ultimately what 121’s are all about
- There is a lot of advice in BNI Podcasts about successful 121’s and it’s worth having a listen to the years of experience they represent
- Using the Givers Gain principle, walk into the 121 with intent to help them to ultimately get more business. Think about how you can help them be more successful.
- Collaboration is the term I’m using for conducting the 121. Best results here can involve:
- Get the basics right like allowing enough time, agreement up front on structuring the conversation, and post meeting objectives
- Asking questions. Using our respective industry knowledge and business acumen can be so much more powerful through insightful questioning. One of the benefits of being in BNI is that “external view” that helps us think about and improve what we do. Be a good listener
- Ask to hear their 40 seconds pitch – it can focus the conversation and you can help the other person think about and refine their messaging
- Make suggestions of other CBD Evolve members where you see a connection
- Provide a perspective. There is a heap of knowledge and experience in this room which we want to get out on the table, so to speak. Treat the meeting as a joint venture discussion and provide your perspective.
- Follow Up
- Start with the proposition that this 121 is not a one-off event. In fact, there is a lot of value in the second and third 121’2 because then there is a stronger understanding and relationship once you get there
- Make sure you have a good understanding of questions to ask your network and indicators of the need to look out for that might surface opportunities
- Be positive and enthusiastic. Don’t just “tick the process boxes”. It’s tremendously satisfying to contribute to someone’s success
- We don’t want random leads – we want real and ideally qualified opportunities
- Agree on next steps and then deliver on them
- Make sure you follow up on any referral opportunities.
Over 70% of CBD Evolve members have more than one 121’s per week. 50% of the group have conducted six 121’s or more per month – that’s a strong contribution to a $213,000 average seat value
We know the process works. We also know that keeping improving the 121 process helps ourselves, other members and the Chapter grows and become more successful.
Phil Hunt MBA
Hunt Consultants Pty Ltd – Building Competitive Advantage