Strategic Networking

"Today, many different practitioners and organizations — brokers, investment advisers, attorneys, accountants, banks — are being urged to tap into our part of the financial services business," observes Mike Sommers (Hummel Insurance, Inc., Berlin, OH). "Why not get them on our side rather than watching them prosper as the competition at our expense?

"What works for us is networking through contractual arrangements with accountants, banks and other professional service providers in our marketing area who might otherwise become our competition.

"However," Sommers adds, "If we can bring them on as part of our team, with our expertise and support services, it helps them increase their bottom line without any additional service work, and with their client base and their expertise, they bring something to the table that we need. It's a win-win situation, and that's a big part of the attraction.

"It's working, and is going to be vital to the success of our organization for years to come."

Want to Know More?

Visit Strategic Networking, Part II: Developing Professional Centers of Influence, and Part III: Not Many Holes in the Cheese.