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Tuesday, February 7, 2012

Rome Wasn't Built in a Day

a letter from Cheryl Meyer to her TEAM Referral Network Chapter

Having been an entrepreneur since the beginning of my working life, straight out of High School, this is my first experience with a networking group. I was fortunate in my prior business to have a very distinct target market which did not require networking of this sort. That said, my target market taught me many things, perhaps the most important being perseverance.

I was invited to attend the very first TEAM Westlake meeting which was being held in an effort to form our Luncheon Chapter. My memory is a bit fuzzy but I recall a minimum of 20 business professionals gathered around a table at Tuscany's in Westlake and we simply went around the table and introduced ourselves. Little did I know that I was giving my very first unpolished and unrehearsed "one-minute". What I did know, or perhaps what I sensed, is that I needed and wanted to be a part of this TEAM! I submitted my application on the spot, along with several other insurance agents, however I was the fortunate one to have been selected to fill the insurance category.

Throughout the three years, I have kept track of the results of my efforts and my fellow TEAM members efforts on my behalf. I think the data will support my learning of perseverance.

1st Year Referrals
Given: 31
Received: 24

2nd Year Referrals
Given: 37
Received: 45

3rd Year Referrals
Given: 60
Received: 52

New Business Clients by Year and Inside vs. Outside Referrals

1st Year: 12%
Inside: 67%
Outside: 33%

2nd Year: 20%
Inside: 60%
Outside: 40%

3rd Year: 68%
Inside: 60%
Outside: 40%

Perhaps the most important data is that 68% of my new clients came on board in year 3! I also believe that the quality of my referrals has improved over time and will continue to improve as relationships continue to grow.

I consider the 3 years in which I have invested my time and money into our Chapter to be well worthwhile. I believe that it requires patience, consistency and yes, perseverance to succeed at anything one sets their mind to accomplishing. With each and every Tuesday Luncheon and every Coaching Session, we are planting seeds and we all know that it takes time to Harvest.

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