The Law of 15

15In my last blog I promised I would talk about how you create what I call, COI’s, Centers of Influence. I call it the law of 15, and it works off a worst-case scenario: you will most likely have better results then this, particularly if you have determination and discipline.  This will allow you to use the raw numbers as a motivational tool, thinking, “If I just make the numbers, the sales will follow.”

Here’s how it works.  Create a long-term goal to set and keep 15 coffee appointments each month for 15 months.  Compile a list of names of 250 potential referral sources, organized by industry (such as mortgage brokers, attorneys, other industry professionals, CPAs and realtors).

Each month, these 15 coffee appointments should yield at least one new relationship and one new referral.

Your worst-case scenario would break down as follows:

  • By the end of Month 1: You would keep 15 coffee appointments, established one relationship, obtained one referral and attended one sales appointment. Final result: up one sale.
  • By the end of Month 6:   You will have kept 90 coffee appointments, established six relationships, obtained six referrals and attended four sales appointments.       Final result: two sales.
  • By the end of Month 12:   You will have kept 180 coffee appointments, established 12 relationships, obtained 12 referrals and attended eight sales appointments.       Final result: six sales.
  • By the end of Month 15:   You will have kept 225 coffee appointments, established 15 relationships, obtained 15 referrals and attended 10 sales appointments. Final Result: eight sales

My hope is you get excited when you see how the numbers multiply. The system is simple, yet effective, and provides a vision for accomplishing a midterm goal.

With your worst-case scenario, you’re getting a new referral a month.  Your best-case scenario?  Well, what a sight that would be!

I’d love to hear your thoughts or questions about this philosophy, just leave me a comment or question below and I’ll get back to you.

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