Power Team versus Contact Sphere

Power teamEveryone has a contact sphere, but not everyone develops those into a power team.  According to Ivan Miser who coined the term, “a contact sphere is a group of symbiotic professions who have a good opportunity to provide referrals to each other.”  A power team takes this a step further.  A power team is a group of individuals who have actively committed to generate business for each other.  These individuals work with the same clients, but do not take business away from one another.  

Over the next few weeks, I am going to introduce you to my power team.

Power Teams

My business services power team consists of the following:

  • Business banker
  • Health insurance broker
  • Life and accident insurance representative
  • Certified financial planner and investment adviser
  • LegalShield representative 

My secondary line of a power team is for technology and marketing needs and includes the following:

  • Web designer and logo maker
  • Technology service plan provider
  • Office machinery sales person
  • Media marketing specialist
  • Printer 

Being a business owner can seem lonely at the top. It is not as lonely when you surround yourself with people who genuinely want to see your success.  While in banking, I encouraged business owners to get to know me.  In turn, I got to know them and their business needs.  Additionally, service providers you are already working with should be advocates for your business.  These might include your insurance agent, attorney, bookkeeper, tax preparer, and business coach.  If they are not providing this additional level of service, are you getting the most out of the relationship? Or is it a one way street?   Realize that they might not have you at the forefront of their mind regularly, but developing that relationship should include a specific plan.  

expert, not expert, can you spot the difference

Finding Experts

Think back to when you started your business.  How much easier would your start have been if you knew experts in these fields who could assist you versus figuring it all out for yourself?   In starting Home Time Bookkeeping, I used many of the professionals on these teams personally.  I can attest to their professionalism and recommend them confidently to keep my reputation intact.  Being in business and having a power team makes has many benefits.  First, it will help you grow quicker.  Next, you have a trusted ear or two to talk things through. Finally, you have the potential for a free sales person for your business.  

If you have not started your business, make sure you are asking about their role in your business’ success when deciding who you want to work with for services.  When you start your business, sharing with everyone what you are now doing.  Let them know specifically how to help so they can be part can be crucial to a fast start.  They all have contact spheres which may have that dream client you have been looking for.  If they don’t know they are an ideal or dream client, their knowledge does not help your business.  The goal is to move more from contact sphere to your power team.

In conclusion, who is on your power team?  Can you join an existing power team? By working with me, if you have a need, chances are I know someone who can help in multiple areas.  

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