The importance of SWOT exchange
There are a few factors that contribute to the overall success of a BTB Club member. One of the very basic ones is to know how to refer business to other people. And linked to that one, how to teach fellow members how to refer business to us.
If you don't do this, why would anyone do it for you? It's your prerogative and your exclusive responsibility to earn the trust of other members in your BTB Club. For this reason Nathan Manzaneque created back in 2017 the SWOT Interchange.
What is the SWOT Exchange
The SWOT exchange is a mechanism to get to know other professionals and have more effective one-to-one meetings.
The SWOT exchange comes from the well know marketing framework called SWOT, that helps analyse a situation from four different perspectives:
- Strengths
- Weaknesses
- Opportunities
- Threats
Nathan Manzaneque created an adapted SWOT profile that included a brief description of the business owner, and helped to explain in clearer terms what are the unique selling points that you possess, your strengths as a professional and as a business, and the kind of opportunities you are looking for in terms of referrals. This means to describe what an ideal client looks like. Also what kind of connectors can help you the most.
As a BTB Club member, you have access to the SWOT profile template. Ask your mentor to help you fill in your own SWOT profile and to teach you how to use it.
The SWOT exchange is not just a meeting to get to know another business owner. It's a commitment. A commitment to help one another. And as such, there are some expectations to meet.
The SWOT exchange expectations
1- You are expected to plan having a SWOT with more than one week notice.
2- You are expected to send your SWOT profile to the other person at least one week in advance.
3- You are expected to send to the other person any other information relevant, and be considerate not to overwhelm him/her.
4- You are expected to NOT have the SWOT exchange if the other person does not send you the info at least one week before. We're not here just to socialise. This is business!
5- You are expected to prepare by studying the material the other member sends you, and trying to prepare at least one referral for him/her if at all possible.
6- You are expected to arrive on time.
7- A SWOT exchange is a highly productive meeting between no more than two people, and it is done in a professional way. It is not done with drinks in party mood. It is done as you would carry out a meeting with an important client.
8- You are expected to make an effort to help the person with referrals (both connectors and clients) following the SWOT exchange. Follow up is key. Let know your fellow member you are following up on your commitments, even when unsuccessful in creating a referral.
9- You should have repeatedly SWOT exchanges with the same person when you can tell that deepening the knowledge and trust will yield results for both.
10- You are expected to recommend your fellow member to other members when they are serious, professional, and positive in doing their SWOT exchange meetings.
"The week after having a SWOT exchange with a fellow member, giving him/her a referral has always a reward." - BTB Club Tradition
How many SWOT exchange meetings should you have every month
As many as you are able to handle in a professional, positive, organised way. Knowing that every SWOT exchange is a commitment to try to help someone, make sure that you are not biting more than what you can chew. And at the same time, know that the amount of quality SWOT exchange meetings you have multiplies exponentially the amount of viable referrals you receive over any typical year.
Make sure you mentioned in your next BTB Club meeting the SWOTs you had the previous week, who you had them with, and how many referrals if any were generated.
Make the best use of your BTB Club experience by using this powerful tool and becoming a great networker.