Today on The Wealth Secrets Podcast, Sean Adams welcomes Justin Stoddart, author of the international bestseller The Upstream Model. He’s also the host of the Think Bigger Real Estate Show, as well as a coach and consultant to top entrepreneurs. Sean shares his proven strategy for building a network that produces recurring referrals for your business or personal life.
[03:10] Getting to know Justin Stoddart
[05:02] Developing the Upstream Model
[12:37] Win clients and referrals with the Upstream Model
[16:41] Put in the effort to stand out
[22:00] Cultivating long term relationships
[27:25] Identifying opportunities with exponential returns
[39:47] Thinking Bigger Podcast
Justin experienced first-hand the difficulty of finding his next client. Cold calling and networking did not produce fast and consistent results. This gave him the idea to look for partners who could open up doors of opportunity for him¾to go “upstream”.
For the Upstream Model to work, you must be referred by a trusted professional to the person you seek. Introduction through a credible professional will warrant a warmer reception. During the first few appointments with your potential partner, it’s crucial that you build rapport and identify their business problems. Find common ground by talking about your past successes in the industry. Once you know their main concern, find a way to solve it in time for your next meeting. By doing this, you instantly prove your value through immediate action.
How do you know which relationships to seek out? Choose an upstream partner whose customers can possibly become your own customers in the future. It’s better to have a handful of contacts with warm referrals rather than hundreds of contacts with cold referrals. Focus on the relationships that give you repeated value. This also prevents overwhelm from managing large databases of referrals and frees up your time for other things that matter.
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