 Hey guys, I am Ken Ross here. I'm a business consultant that specializes in reducing costs for businesses by looking at their essential expenses And today is no exception. I am interviewing my business development consultant Jeff talk and how are you today? I'm feeling great. Thanks for having me on your interview show Yes, I absolutely love it. We definitely have quite a bit to talk about I want to understand your business a little bit Tell me a little bit about your background and how you got into this Yeah, I grew up in New York went to school in DC and then Arizona State for law and business and after I graduated I Worked for Solomon Smith Barney, which is part of City Group a big company and then a couple small investment banks and on to American Express financial advisors, which is currently a merit prize today And when I was there at Solomon and then also at American Express I got some great training on business development and sales And at one point the company hired an outside consultant who specialized in referrals And that's where I think I learned the most about referral strategy Some years later after managing a team of trainers within a merit prize financial I became an outside consultant just like that guy He just worked with financial advisors But I've decided as you know to work with all kinds of business on referral strategy So that's how I got into it by working for a company that hired someone's that function similarly to the to the way that I do now All right, so it's kind of like learning What the wools so to speak I I I could definitely appreciate that And you and I definitely have a business relationship. I Utilize your service to help grow my business. How does what you do and what I do kind of a line? In in this relationship. I really think it's a great Yeah, I I of course and I think everyone that knows you senses your passion For your work and helping your clients and helping people in general including on a personal basis outside of work and As you know most people know referrals a very cost-effective way to acquire for a business to acquire a new customer or a client and So compared to marketing and advertising referrals Are better in in five ways so one is a new Customer or clients going to start faster if they come to you by referral than if they come to you by marketing and advertising They're going to stay longer be a customer or client longer if they come by referral They'll generate more revenue per client from the ones that come through referral and they're more profitable per dollar of revenue and Also, they are more likely to refer so it begins a cycle That builds upon itself. So By reviewing the costs for each business of client acquisition and comparing what's their overall cost and benefit of Client acquisition for marketing and advertising and from referrals. They usually see the savings So I know you're very passionate about cost savings. So in you and I working together We want to tap into that passion when you're having your referral Conversations when you're telling your referral stories of success and that's a great way for your perspective clients and Perspective referral sources to know more about your work and to be more likely to hire you and to refer you Through those referral stories of success which really begin with the referral source They get on of course into the prospect that you work with the benefit that you provide for them And then they end again with the referral source and the benefit that they get So that's something that you're you and I are starting to work on creating your own referral stories of success You stole my thunder. I was gonna ask, you know, I love saving money and you've already said it That's what I love to do. I love saving money. Not just for myself, but for businesses Can we save money by working together? Certainly, I think we can and I think you've already kind of hinted on that But can you expound a little bit on how for me this is worth my time and I could save my myself a lot of trouble Yeah, I think the unique focus on referral source relationships that I have tends to help people expand Their thinking about and their efforts related to their skills related to the systems related to Generating referrals expanding that beyond what they might say are the people in their B&I group for example And that's a very obvious referral group that's created for that purpose But beyond that to past customers to current customers to past prospects to prospects current prospects as referral sources and of course other professionals and so When looking at my work compared to other business development Consulting or other business consulting or sales strategy Companies, I think there's really a unique focus and energy and experience given to those so Simple answer. Yes Yeah, hey, not not much harder than that. Definitely this idea that We can refer each other business and that ultimately saves us a lot of time, which is a lot of money in the end I think this is a good point here for me to kind of You know have a little mini consulting session together. I'm a consultant. You're a consultant. We can consult each other I think a lot of business owners don't understand kind of what consultants do for each other or even for their for business owners as You know as a profession, so I love to kind of role play with you a little bit here Or maybe not even hopefully just kind of have a quick session. What do you think? That sounds great As you know, I like to follow a five-step methodology that I learned back in my time at American Express And I like the five because hopefully forever I'll have my five fingers with me and easy to remember the five steps The first one is to talk about strengths the thumbs up can help people to remember that Second one is to talk about goals and if you I asked you to point towards your goals You'd probably use your second finger your index finger to point towards the future You know, we'll be a little PG on this call, but the third finger might be the problem So I won't put up that finger to show you on the video But that's the funny one that people recognize and then for those who are married The ring finger the fourth finger represents a commitment So that's the commitment to action and then the pinky provides a little bit of help So I act as a consultant. I'm not gonna be the one to get referrals for them They got to do that themselves, of course But as the consultant I can provide a little support motivation accountability so let's walk through those five steps for you briefly and I think that'll give people some more ways to think about Generating referrals for themselves Okay, so that sounds great. So I remember the first one, but you're gonna walk me through the other one's strengths I really feel my background in financial services and my passion For being, you know, the kind of person who wants to find value in in everything that I have being that I'm Born and raised in Nebraska is something that Warren Buffett Actually tells a lot of people. Hey, you need to invest in all the right things And I don't need to invest in that phone call right now, but I certainly want to do that for my customers That's one of my strengths. I think I play it very well All right, let's talk about strengths that you have you and I just very recently started working together A few different tools. Let's go through the the business development plan the CRM questions and stories list and also the Activity results tracking so for tools to go through in terms of for you so far And it is new and it's not complete yet. What are the strengths that you have? By having a written business development plan versus what the vast majority of people they don't have A written business development plan on how they're going to generate more referrals. What do what strengths do you have in place so far? Absolutely I think that's a really great question and that's something you constantly remind me of every time we talk is that Since I do have it written down. I don't have to have such a great memory, right? And it keeps me focused on what it is that I'm trying to do and I'm certainly an organized and focused person In day to day things, but I really do think that having it Down in paper in black and white is something I think For myself a trait that I've developed as a very good strength here in this particular instance because I can see it You know different clients to mine use the written business development plan in different ways You're a very positive uplifting optimistic forward thinking action-oriented person. I have another client I won't tell you who but he's a little bit more pessimistic a little bit more A worry-ward, you know someone who kind of Moles over things that are negative and the business development plan is very helpful for him As some of your listeners might feel that they're like that. They worry about things. They're anxious. They're concerned The business development plan helps him because when he's thinking about things The metaphor I like to use is like a one of those bingo ball cages where you're spinning around the bingo balls But you can't really see on any the numbers on them So just worrying about something is sort of like the bingo balls spinning around You can't really read any of the numbers But when you put it in writing in the business development plan, whatever you're concerned about as a business owner Or professional someone responsible for generating business and generating referrals and put your concerns down in writing It's actually some people may be counter-tuitive some people think well That's going to take time that I need to get move forward But if you're spending a lot of time worrying and being concerned Putting those things in writing in that section of the plan, you know It goes to strengths and goals and concerns and actions and help Um in that concern section actually helps to avoid wasting too much time Worrying and thinking about things again and again the other tool that you and I work with is What is commonly referred to as a CRM tool you and I are actually just right now using a spreadsheet to do that Maybe in the future you might upgrade to a more robust CRM tool But just a CRM meaning a database of your contacts your prospects and clients and professional relationships And in our spreadsheet, of course, we have a way to organize rank and prioritize Your referral sources. Why don't you tell folks in terms of your strengths? What do you have in terms of your database? What's good about that tool? How are you already using it so far? I do have quite a few People in this list. I have around, you know, 1500 or so different contacts that I could reach out to That would ultimately be a little overwhelming if I said, oh, I could reach out to any one of these people But having the rankings being able to put more information about each person That's something I think is very valuable to me Because it takes it out of my head into something that I can physically see and I can actually do better comparisons of Different different prospects where to spend most of my time, right? Because time is very valuable I don't want to I don't want to spend a whole lot of time Trying to remember different things or different aspects. I can just refer to this This resource here and continue to develop it over time Which is something I think a lot of folks find value in when they invest in a CRM or different types of technology too Which is another thing I'm planning on talking to you about in my next session I actually have started talking to people about various different technologies and how to go You know into something like that as well. I think it would be also something to consider For your listeners information, I know you know this usually at the beginning of my engagement With a business or an individual that I work with part of that process in the beginning is to Compile the database as you mentioned you got 1500 people or so in your spreadsheet Oftentimes and your listeners can relate you've got some people in your cell phone Some people on your linkedin some people on your facebook some people You know that are in some sort of database like a constant contact email marketing system If you're an attorney, maybe you have a practice management software where you've got some people Uh all different types of people use different types of databases But oftentimes almost always and I think your listeners would relate and admit that this is the case for them They've got people in too many places And so to compile everybody in one place all the past prospects and clients all the Current prospects and clients and all of the professional relationships that are important Then that ranking is so much more significant. So you've done that already. That's a strength Another tool that we use is the questions and stories Database a whole list of questions to ask that are formulated in certain steps for relationship building for referral conversations and for Actually working with your clients in that case you would be talking about lowering their costs another Um provider of a different product or service would of course be talking about a different subject matter in that Third business conversation So we've put in writing questions that you can ask so that we can Sharpen those questions up and put in writing Referral stories of success so you can remember to tell them and tell them better What are the strengths so far that that tab in your spreadsheet that lists your questions and your your stories? What are the strengths so far for you? I think for me The biggest strength I have when it comes to trying to develop a good rapport relationship with people is being able to go back to those questions and Really understand what it is that I value right because I value saving people money, but uh the questions that I Have developed over time right so far have given me the uh the I the thought that I can get to know someone and understand More of that picture for them as well. So I can better relate to that person so I can better uh Help them understand what it is. I'm trying to bring to to the equation for them developing a good relationship Based upon based around some questions that really kind of fit what it is that I'm trying to offer And what I want people to find value on is something I think is very valuable in what I'm trying to do You mentioned a couple of uh words that I want to key in on one being value in the other is relate relate is uh The root of relationships right so Having a better set of questions to ask and stories to tell should help you to have a better relationship with that person And the other keyword that you mentioned value Um, if I can I'll digress for a second everybody on the call. It's probably heard of the golden rule And the golden rule goes something like this Do on to others as you want them to do on to you But I've got for my clients the platinum rule, which is do on to others as they want done on to them Which is sometimes different I was talking with a tax attorney last night and asking him He was going to be speaking to a CPA And he knows that tax transactional attorneys are good for him Because he's a tax controversy attorney And then he was thinking for a moment that he would introduce that CPA to tax Transactional attorneys that he knows that they could both introduce each other to tax transactional attorneys And that would be the golden rule But platinum would be to find out from that CPA who are your best referral sources Who do you really want to meet now that may be tax transactional attorneys? But uh, it's probably going to be something else might be something else One other tool that we work with the last tool mentioned That you have in place and we're starting to use Is an activity and results tracker The vast majority almost all of your listeners probably do not have something like this in place Unless maybe they work for like a mass mutual or northwestern mutual or big insurance company and their Company requires them to track their activity and results But other than that most people don't have anything to track their activity. They usually have some way to track their results I'll just use lawyers again as an example They're going to track their billing because they need to send a bill to the client They're going to track how many new clients they get because they need to keep track of their client records But they almost never track Most businesses almost never track the activities that lead to those results So tracking how many relationship and referral and sales conversations they're having how many events they're attending And and many other things was really important so that you can see the correlation To the results Why don't you tell us? What do you have as a strength right now in terms of using an activity and results tracking tool? I think for myself, uh Before this I fit into the category of my activity was only tracked in maybe a calendar Right and I could go back and look at or my results were yes, obviously in What my company was able to produce financially so sending out invoices or or getting bills from other other folks so definitely looking forward to Developing more of that. I haven't done a whole lot with the result the activity results tracker as much as tracking my Different clients and where I'm at in the relationship with them as well as all the prospects like we were talking about Initially and so I want to continue to to develop that I want to further that understanding too and see how all of that kind of fits into what it is that you're You're doing here as far as business business development and referral Relationships, I think that is ultimately the key the the detail the devil's in the details, right? That is the key to all of this I think in the end is to make sure that all of these Various parts of this whole system that we're creating here is Is followed well and is utilized that data is utilized in a fashion that helps bring up a certain result So I really do appreciate You kind of walking us through all that and helping helping my audience understand and know There is a difference when you deal with a consultant who specializes in something like this that Understands and can break down a problem that you know Somebody may be having in business and help it to grow in a way that's positive. That's not positive Where can we Get a hold of you like say there's a person in my audience who's like why I really want to do some of this I want to do some consulting with With a person like like yourself Best way to reach me is By email Which I guess you might be able to put in the description or in the The video, which is the referral navigator at gmail.com and People can also Find my website, which is the referral navigator.com People can also find me very easily online Because luckily for me, I'm the only person named jeff talkman in the country that I've been able to find So if you just google my name jeff talkman, you can find me on linkedin Or of course you can call my office at 561 922 932 1 And I will be sure to put all the information that jeff would like me to share in the description of this video And that is very unique that you're the only jeff talkman I'm going to try that vanity search for you and see that that actually pans out for sure I know for others that I've interviewed in the past that seems to seem to play out when you're in the right areas, but Yeah, that's that's awesome. That's an awesome Aside there to take take forward and I really hope that people can reach out to you. I make nothing I tell people this I Find exceptional business owners. I highlight their business and I want them to succeed So that's the reason I created this channel and I don't want any I don't want any accolades for if you reach out to jeff and say Hey, look kin My video or this this time here was was the my motivation for reaching out to you I I want my audience to know that I truly am the type of person who wants to serve business owners and help them With however they can to save money. Do you have anything else you'd like to add? Yeah, for sure briefly. I wanted to Just go through the last four steps quickly. We cover the first one in depth In terms of your goals got to tell people what's your goal My goal this year actually is to save 52 businesses Money on their essential expenses regardless of what it cost me so there could be a business owner out there that is seeing my channel and Relates to me about on something or or understand something Of a topic and is able to save money. That's that's a win for me Excellent. And then the third step roadblocks mistakes This is the hard part to admit to your audience something that you're doing the wrong way something you're wasting time on Something that you should have done that you didn't do and you should you should have known better What's the mistake that you've made? I think for myself. Honestly, I wish I could have started this channel sooner That's one thing that I tell myself all the time I really do enjoy meeting people and this has given me that opportunity to meet people And I think for myself really coming up with a firm sales strategy. I didn't do it For for quite a long time But I have it now and I I'm very much appreciative of that. Yeah, I had a client last week We did our first event together. He's 30 years old and I know what a great position He's in because he's starting so young and I was talking last night with a client who's in his 60s And to summarize he's saying boy if I had only knew knew you back when I started this career Where I would have been let's go to the fourth step briefly and then to the last one The action plan in terms of those tools the business development plan the crm Questions and stories the activity results tracker having one-on-one conversations having three-way calls Moderating you're hosting your own event doing more videos. What are you planning to change and do differently? What are you committing to in front of everybody here? And you're going to do that you think is going to generate more referrals from clients And more referrals from professionals those two specific things That's a really great question. I think part of it for me Believe it or not is I love my audience here on youtube and on various different social media platforms But I'm going to spend more time now that the pandemic is lifting being out in the open Being available to people and I think that that is definitely something I've Decided to commit more time doing I will continue to do some of this I will continue to help others as much as I can but I truly believe the best way to help Other businesses succeed and to grow in their business and ultimately to save money on their expenses I need to be available to them and the last step of the business plan is what I call the help section And there's a phrase that says you can lead a horse to water, but you can't make them drink in other words I gotta have you ask me for help so that I can help you You might ask me for accountability advice training motivation tools systems to moderate three-way calls for you to moderate events for you Where do you want my help the most? Wow, that's a really good question. I haven't really thought about this I think your expertise given that I knew a lot about you before this and that we've spent some time doing this kind of Live or some sort recorded. I I really do feel like the level of comfort you have with Reaching these topics is something I feel like I need to continue to invest more time in in doing which is Uh being comfortable with this these uncomfortable conversations about my business always thinking like How can I best continue this strategy? I think You you live that every day of your life. I I don't I just go about My day with the activities I have and say hey, these are the things that I'm really trying to do and I I certainly appreciate that but I I should definitely want to tie it more back to this I'm going to What I heard in there is to help you have these conversations That are more comfortable for you and the other people and of course, I'll help you with that for Weeks and months and maybe years into the future But let me give one piece of advice to help you and everybody else listening to end the call Which is one simple way to get referrals and it's only a two-step process If you already have a customer as you and a lot of people on who are listening already do Let's say your customer's name is john Keep it simple Ask questions first first step find out what he already likes about your business What do you like about our products? What do you like about our service? What do you like about me? What do you like about the way we communicate? What do you like about the way we follow up? What do you like about this or this or that? Maybe come up with a list you can use the ones I gave you but come up with your own list Make them open-ended not closed-ended right not do you like this or that? But what do you like tell me more explain to me share with me Open-ended questions and then when he answers those questions Capture exactly what he says if possible Capture exactly his language and this is for neuro linguistic programming experts out there We're going to capture his language and tap into his synapses in his brain that way The second part is to ask for referrals Using john's language So if john said you're super duper then you could say hey john Who do you think I should meet who would appreciate someone super duper if john said you're a nice guy? Then stay john. Who should I meet who would appreciate a nice guy? Whatever it is he says is good about your product your service to your company or you in step number one Use that information to ask for a referral and watch yourself get more and more referrals So that's one piece of advice for your listeners a simple two-step process that they can use I think it's a perfect one for me because honestly that's I think that's exactly What you're what I was trying to say, but you said it a lot more eloquently than me I want to know what value I bring To the people that I've actually helped and that is going to be something I have to be specific about understanding And we're regurgitating to my audience. I really do appreciate your time and thank you very much for doing this I can't I can't tell you that My my life my business my life or whatever I don't even know how else else to really describe it that this hasn't been such a great relationship for me And I know it would be for anyone else who's listening or watching this To know that you could you can develop your business and and use an expert And that expert will definitely find value in what it is you're trying to do and help you to grow in such an amazing way So thank you very much for that I think you did just tell them you did it. Thank you. Well, I do my best. So thank you very much. Jeff. This has been uh The interview with jeff talkman, uh, please stay tuned for more interviews like this with very exceptional people And uh, thank you for your time