The 4 P’s: Productivity – Database
How to Use Your Database to Grow Your Business
Middleton Elite Coaching – January 2021
Your database is your network, and your network is a lot larger than you may think.
It is important to keep your network database in one place. For some, this may look like a Rolodex, for others a contact list on your computer.
Ideally, you would store your database within a piece of technology or software that is easy to access and update.
Three Areas of Focus For Your Database
The productivity of your business relies heavily on your database.
This database is a culmination of the hard work, networking, and business you have generated to date.
Planning for the growth of your business requires some diligent focus on leveraging your database. This focus will allow your database to grow with you.
Working your database by consistently updating your contact info is essential to growing your business.
Let’s talk about three important areas of focus for your database, which are:
- Frequency of Communication
Assess the size of your database.
How many people do you have in your database, not including internet leads? This is the number of people who organically know you, and have regular communication with you.
Based on the 10:1 inner sphere ratio, how many client transactions does your current database have the potential to produce? Did you hit that mark this year? If not, what do you need to do to hit this goal?
Part of planning for the growth of your business is to not only grow your database, but to grow the number of client transactions you conduct each year.
If this principle appeals to you, but you need help hitting that number – let’s talk. It’s what we do! Contact Us!
Making sure your database is full of quality contacts is just as important as the size of your database.
While planning for the growth of your database, assess the ways you personally connect with your database.
Follow the Database Quality Checklist below and put a checkmark next to each item you have already or are actively on target to accomplish this year. What should you do between now and the end of the current year to ensure these items are completed?
This will be your plan for the growth of the quality of your database.
The Database Quality checklist:
I have all of my contacts in one centralized database.
My database consists of all of my Past Clients.
All vendors and service providers are in the database.
My family members and friends are in the database.
Every one of my team members has put their people (above) in the database.
I have a system in place for all incoming leads to get into the database.
Complete contact information exists for everyone in the database.
I have a plan for personally connecting with the database at least quarterly.
Your database growth plan should consist of an action plan for completing the items NOT checked off of the Database Quality Checklist.
Are you interested in learning more about nurturing your contacts through organic connection and involving your team members in your database growth? MEC can help you! For more information, click here
Frequency of Communication
When it comes to your database, there’s no such thing as too much thoughtful and valuable communication.
Please keep an important emphasis on the word “Valuable”.
Keeping the lines of communication open, relevant, and informative will go a long way to adding to the value proposition your business brings to your database.
When planning for the growth of your business it is wise to determine the appropriate amount of time needed to keep consistent and open communication with your database.
** For a comprehensive approach to the Database, speak with your Coach and/or see our previous training on Database Segmentation and Layers of Communication in our On-Demand Skills Courses.