(The Referral Guy) S6 E6 – Co-Working Spaces - Steve Sweeney

The Referral Guy
S6 Episode 6
Show Notes
Episode Title – Co-Working Spaces

Introduction
Co-Working Spaces and their members are unfairly hurting because of the pandemic. Lockdown, no lockdown, lockdown with restrictions… it’s impossible to know what’s around the corner so trying to prepare for it is draining. 
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This episode of the Referral Guy is dedicated to showing co-working space managers how they can promote purposeful team collaborations amongst their members and help their businesses while at the same time returning their own co-working space to profitability.

This approach will also enable their facilities to grow in memberships as the existing members will quickly learn there are gaps in their teams and those gaps are costing them opportunities. The solution? Plug the gap by introducing new external professionals to the team and, therefore, the co-working space. 

As all the team’s activities and training take place in the co-working space or via its online portal, members are constantly connected to the co-working space physically or virtually, and emotionally. This builds a stability in the members which the co-working space has fostered. It also enables the growth of everyone’s businesses in hard times. 

The members will be forever grateful.

Show Objectives
To pass on some valuable information that gives co-working space managers some food for thought about a pro-active and collaborative approach they can take to adjust to uncertain times.

This will enable them to assist their members’ businesses to grow via teamwork and will promote sustainable growth in their own businesses as the more teams develop. 

What You Need to Know
Segment 1 – Overview 

Co-working spaces are perfectly positioned to help their members weather the current storm. By working with a specialist referral marketing trainer, they could identify and put an offer to specific groups of members to attend a free information session that outlines how the people in the session could be trained to form teams of referral partners. 

The groups are based around their servicing of the same target market so every customer or prospect of one member is a potential client of all the other members. This makes the exchanging of referrals natural and, once trained, they will all have the skills to make the referrals happen.

Over the remainder of this episode, I’ll discuss the benefits of multiple referral teams operating in co-working spaces. These benefits apply to the team members and the co-working space as those benefits are a product of a partnership between the two.

Segment 2 – Benefits of Referral Teams to Co-Working Spaces
Too many co-working space members operate as business islands. They are nose down, bum up and beavering away chasing clients with varying levels of success in a crowded marketplace full of competitors who are doing the same. Using normal digital marketing methods, the chances of being selected as the preferred service supplier are small. After all, there are over 2million small businesses in Australia today. In America, there are over 30million small businesses.
Whenever humans are overwhelmed by choice, they do what they’ve been doing for centuries. They ask someone they trust for a recommendation. This environment is perfect for the success of business owners who are in trained referral teams.

Stevo, expand on this in the show. 10 members, 100 contacts…

Imagine for a moment your co-working space. It’s populated by multiple teams of business owners who are interdependent on each other. Within each team, they rely on each other for 

• Referrals
• Introductions
• Brainstorming
• Emotional Support
• Business Strategy 
• Advice
• Connection 

Whenever a business owner has access to this consistent level of support, their chance of success grows enormously.

When successful businesses operate in your co-working space,

• Your income stabilizes then grows
• Your members recommend your facility to their colleagues
• Those colleagues visit your facility and feel the buzz
• That buzz is the sound of business owners making money
• So your membership grows as others want a piece of the action.

And all this stemmed from your decision to create a point of difference about your co-working space. You dared to care about the business outcomes for your members. More than that, you dared to take the action that would create the outcome.
All this can happen in-person or virtually.
    
Segments 3 – Benefits of Referral Teams to Members
So let’s return to those benefits to the members so you understand just exactly why each of them is so important to them and why they’ll make a difference to your business…

• Referrals
• Introductions
• Brainstorming
• Emotional Support
• Business Strategy 
• Advice
• Connection 

Listen to the show, download the podcast or send me an email for the details.
info@referralacademy.com.au

Segment 4 – Putting it All Together and the Path Forward
As a co-working space manager, you are perfectly positioned to help your members weather the covid storm. You have the power to initiate the action that will bring about a better outcome for your members’ businesses and your own.

Snap lockdowns and the insecurity they create will be obstacles your members can confidently work through because they can work in teams to create business opportunities for each other and pass on that feeling of, “I’ve got your back.”

You also have the power to acquire a significant point of difference between your establishment and your competition. This will make yours the Go-To in co-working spaces as membership of your facility comes with the option of a training package that is perfectly timed for current uncertain economic times.

Where to from here?
info@referralacademy.com.au

Start learning more about how to initiate the teams that will change your outcomes by making contact. We’ll have a face-to-face discussion and map out the process forward.

When all the uncertainty and stress boils away, here’s what it comes down to…

How long do you want to live with what you’ve got? A week, a month, another year?

We all thought this would end at the conclusion of 2020. How wrong were we? 

And regardless of when it ends, as a business manager, you still need to stand out in your crowded marketplace to grow.

So, is now the time to do something? Is now the time stop living with the insecurity caused by not having a viable plan? Is now the time help your members and in so doing, help yourself?

What You Need to Do
Understanding the different types of referrals will affect your ability to attract them and generate them for others. And remember, if you want to be given them… you absolutely must be able to generate them!

This show has skimmed the surface on this topic. It’s one thing to know how to identify the different types of referrals, quite another thing to become adept at generating them. For referral generation and attraction techniques contact me at info@referralacademy.com.au 

If you’re interested in learning more about Strategic Referral Teams, contact Steve. Once formed, you’ll all be trained to run and profit from your own Referral Planning Meetings.

Become a Guest on The Referral Guy
You may like to learn about becoming a guest on my show so you can reach a global audience in 176 countries.
Would that change your business?

Previous Show
Season 6 Show 4 – Referral Planning Meetings
In this show, I covered the smorgasbord of options Strategic Referral Teams may choose from when deciding how to structure their Referral Planning Meetings for success. Many items were mentioned on the show and are available for you to go through again via the podcast.

Next Show
Season 6 Show 5 – The Mid-Season Wrap 
This show is the best of the season so far.
Tune in for a recap on the key points that will enable your business to grow via referrals.


Your Host and Resource

Hey, I’m Steve Sweeney… The Referral Guy.

Being a Specialist Referral Marketing Trainer provides me with wonderful opportunities to help business owners attract more business by referral. This is one of the most cost-effective methods of marketing as it relies 100% on the quality of relationships you have with people in your network. Once trained, your skills last a lifetime and continue to pay dividends.

The Australian Referral Training Academy (ARTA) exists to teach business owners and sales professionals the art and science of attracting referrals and helps them build their own Strategic Referral Teams (SRT)

Shoot me an email if you’d like to learn more info@referralacademy.com.au

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