Episode 74: How to Become Radically Referable & Transform the Way You Network w/ Brian McRae

What if you didn’t have to spend so much money on advertising? What if there was a more stable customer basis already in your sphere of influence or just within reach? Today we going to unpack your greatest asset, your network. With us is business networking expert Brian McRae. Brian has built a successful company in the mortgage industry based on a key principle that he calls the IRA or, “Inventory of Relational Assets.” We are going to be discussing how you can effectively grow and manage your network and how to prioritize the right people within your sphere. If you want to work smarter not harder, want to be able to serve more people with less advertising fees to your business you will love today’s episode. So buckle up for a deep dive into making the most of your network and influence.

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3 Key Takeaways

1. Your most valuable resource is your Inventory of Relational Assets. 
2. All people are created equal, but not all people are equal to your business.
3. You have to give to receive. Be generous and always add value to your marketplace. 

Show Notes

Key lessons on nurturing relationships within one’s network.

• Fresh out of the IT Training industry and embarking on a new career in the mortgage business, Brian quickly realized the importance of building on a foundation of relationships.
• Word of mouth and your relationships are your most valuable asset as a business, however, not every relationship is going to make for the best fit as a client.
• Not every business relationship is going to deserve quite the same amount of attention and priority. 
• You need to create an IRA (Inventory of Relational Assets) to help you best determine who you will benefit the most and who you can benefit the most from.

"Most people when they open up an IRA do so to fund their retirement. Unfortunately, few create an Inventory of Relational Assets to fund their business." - Brian McRae

Three crucial takeaways that helped Brian grow his grassroots mortgage business.

• Invest in your relational database. They are your most viable customer basis and the least expensive and most recession-proof.
• Pursue the hustle. In a commission-based business, no one is gonna hustle for you.
• Continually read and consume content into yourself that inspires you, challenges you, and helps expand your professional competence.  

Top underlying principles when managing your “IRA.”

• Be a giver. Add value to your marketplace using a connection offense. 
• You don’t always have to spend tons of money on advertising or engage in the race to the bottom. Think smarter not harder.
• Look for pipeline referrals, those who maybe are not the direct client but may have access to the direct client. 

"Rather than knock on ten doors to find potential clients, I’ll call ten real estate agents who work with my prospective clients. That is looking for a pipeline." - Brian McRae

The six steps in an effective connection offense.

1. Invest one-on-one time and resources into the most influential people in your network who have the largest pipeline for referrals.
2. Events are paramount. Attend events, sponsor, or become a host to get your name at the forefront of people’s minds.
3. Make phone calls. People do still like to talk on the phone. When calling, don’t just leave a voicemail but also a follow-up text. 
4. Collect your contacts into one place from wherever they may be with name and contact info. 
5. Organize your contacts and categorize them by the type of connection they likely are to be to your business. 
6. Lastly, prioritize your contacts in order of importance to your business and invest time and resources in the most important connections.

"God created all people equally. But that doesn’t mean all people are equal to your business." - Brian McRae

The three-step formula for better engagement with business connections.

• Gratitude: Go above and beyond to show your appreciation for something relating to your connection. 
• Curiosity: Take a genuine interest in what projects they are working on to better understand them and how you can be of benefit to them. 
• Generosity: Do anything you can to offer them some sort of value, whether it’s a tangible gift or connecting them with the right person or resource that will solve some of their problems. 

"Always try to surprise your connection with some generosity when they least expect it."

- Brian McRae    

Resources For You:

• Check out Brain’s Radically Referable Mastermind. https://briankmcrae.com/radically-referable-academy/ 
• If you need help building (or selling) a valuable business, reach out to Cathedral Consulting at [email protected]
• Questions for Seth? Send us your feedback at [email protected]
• Pick up your copy of Ambition: Leading With Gratitude