How to become a center of influence
You can help people and give back to your community while also raising your visibility.
Many people have heard of the idea of cultivating centers of influence (COIs). However, it makes sense to approach it from the other direction and become one instead. Why? Because COIs usually know each other. As word spreads, people come to you for advice. Some problems you can handle personally, others are referral opportunities.
This concept is best expressed in a story. Years ago, I came across a financial advisor who saw an opportunity to coach and organize the youth soccer team in his town. Children have parents. Parents supply email addresses. This includes work ones too. This gave a clue to where people worked. His role gave him a reason to be in touch with the parents. He even organized the occasional soccer game for the parents.
How did he become a COI? He learned a fellow parent had lost their job. The field involved technical writing and training. The advisor had contacts. He made some calls. Then he connected the other parent with interested parties. The guy landed a new job! What do you think he told his friends about the advisor! Word of mouth spreads quickly. On another note, it’s pretty obvious where the parent’s retirement plan rollover from the former firm went.
When he spoke with parents he would draw them out about their firm. “(Firm name) — I always wondered what they do. Please tell me.” Other conversations might include; “How are things going at (firm)? Layoffs! I hope you weren’t affected. Were any of your friends affected?” You can see where that conversation is going.
The advisor wanted to be approachable. In many situations we position ourselves as experts connected to a great firm. We help HNW individuals with problems. This can create a barrier with your peers, even if you consider them wealthy. Why? Because they might not see themselves the same way.
His approach was to be a peer. Who is he talking to? Other parents of children the same age as his kids. He would say: “I help people manage their money. I work really well with moms, pops and families. I help them solve their problems. If you ever want to talk, give me a call.” You can see how his approach was very low key. His “brand” was helping people. He knew everyone and vice versa. If he saw a need, he would extend himself.
How can you become a COI in your own community? Here are some pointers:
- Define your community. It needs to be manageable. Often, it’s a niche. It’s not going to be New York City. It might be your neighborhood in Brooklyn. It might be within your college alumni association, a local nonprofit or the professional society connected to your previous profession.
- Get your name out there. Study your local area. See how other people do it. Some realtors or attorneys advertise on shopping carts at the supermarket. Others have ads on benches at bus stops. Some write for local newspapers. Others have billboards. In a way, it’s subliminal advertising. People see your name, firm and profession over and over.
- Attend meetings and events. Perhaps your niche is the local chapter of your college alumni association. Be a regular at meetings. Over time, meet everyone. Find opportunities to speak or ask questions at meetings. You want to come across as smart.
- Get into an influential role. Many organizations have plenty of people who tell others what to do. There are few worker bees getting things done. Take on a project that puts you in a central role. This might be taking on the role of membership chair in the alumni chapter. Develop a strategy to reach out to every local graduate. Make it easy for them to get involved. Everyone who does will know you. They might all have business potential either as individuals or firms.
- Get credit by giving credit. You have grown the membership. Every meeting you report on progress. You lavish praise on other committee members. Those listening will know you made it happen. Word will spread you are a person who gets things done. Successful people want to know other successful people. They will seek you out.
- Cultivate those successful people. Surprise! Those people who sought you out are COIs! Now you are part of the “club”. They come to you for advice. They direct others to you.
Becoming a COI is a great way to give back. It’s also a great way to position yourself to get business.
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