Power Group and their place in your business strategy
A Power Group is one of the ways we structure ourselves to make our efforts most productive.
A Power Group is a group of members from related professions that work with the same clients but do not take business away from each other. Some examples of aligned members could include:
- Marketing/Sales or
- Real estate and Property Maintenance.
In CBD Evolve, we have six Power Groups
- Employment/Sales/Customer Experience
In a successful Chapter, members will find 67% of their referrals come from their own Power Groups and the other 33% of their referrals come from the rest of the chapter.
Power Groups are valuable because we surround ourselves with members who talk regularly to the type of clients that we want. A Power Group process helps :
- Build an understanding of need in a target market
- Cross pollinate with information and ideas
- Find new members for CBD Evolve
- Build our networks, and ultimately
- Grow our businesses
Power Groups are a great way for individual members to play to their strengths. For example;
- Brainstorming opportunities for Power Team members. 1+1=3. At the most basic level, the team can help with member think through an opportunity and increase his or her chances of winning the deal
- If for example, a member of the Corporate Power Team has an opportunity that’s a new business, the team could immediately become a one stop shop of legal, accounting and other professional advice
- The more individual members understand each other’s strengths, each person benefits from better word of mouth marketing
- Hunting in packs is a lot more fun
Some basic definitions and examples were shared in Evolve News last week.
This content will be shared this week so we can expand the value from participating in Power Teams and go find the additional business members achieve through the process.
Building Competitive Advantage