How To Warm Up Your Powerbase To Build Wealth

When I first began my business I was terrified of my powerbase. What is a powerbase? A powerbase are those friends, family, and old connections that have help you, supported you, or maybe even had disdain for you in the past. The reason I call it your powerbase is that these people possess power when it comes to your relationship with them and can make or break your success. Now back to my original statement: I was absolutely terrified of contacting my powerbase.

You see, when I first began in business, it was an MLM selling life insurance and I was taught that my powerbase was the place to start. Which is accurate. So I made a list of friends, family, co workers, bosses, teammates, etc and was told to qualify them as to who is in the market and who I had the most credibility with. The problem was that I didn’t really know why I was calling. It was this weird place of knowing I needed to make money, but not wanting them to think I was only calling to sell them something, even though I kind of was. It made me uncomfortable and so ultimately I wanted to avoid doing it.

So it played out with me making the list, telling my friends and family I was in training and needed their help, and then showing up at the appointment with my trainer who would help me conduct the appointment and close business. Sometimes we closed, sometimes we didn’t but for some reason I felt awkward about it. So when I no longer had my trainer present I felt weird about calling on my powerbase. So instead I would try to prospect and build my business by using LinkedIn, Facebook, and buying leads. Not that these are not viable methods, but I had totally bypassed reconnecting to my powerbase.

Here is my belief about why I felt this way: I did not know why I was calling them. Let me explain. I was not certain if I was calling to reconnect or if it was a direct sales call. To me it seemed unclear and I felt like it was a little bit of both, but even that wasn’t for certain. If I was selling them, my instinct was to tell them I wanted to sell them something. If I was just calling to reconnect, then my instinct was to not try to sell them something. Because I had this lack of direction and lack of certainty, I chose to do nothing. I believe this is what happens to most people who work their powerbase.

What I believe and teach now is that you should work your powerbase. You should make calls, setup meetings, send thank you notes, and all of that great stuff, but only with the intention of reconnecting. You see, you should not be calling your powerbase to sell them. It doesn’t mean you won’t sell them, but it does mean that isn’t the intention and the purpose. Your power base can support you and share your message so that you go further and faster. They will refer people to you, they will market and promote you, and they will say good things about you. But not if you ignore them. You see, when you ignore them and avoid them, the communication dies and so does the support. Similarly, if you contact them just to sell them something, you risk them feeling used and not wanting to promote you. It is bad public relations. Your goal is for them to promote the good job you are doing. Sales will come from this process organically.

So who is in your powerbase?

Immediate family members

Extended family members

Out of contact family members

Current friends

Past friends

Current neighbors

Past neighbors

Local community

Church members and elders

Current Customers

Past customers

Service customers

Current unsold prospects

Past unsold prospects

Businesses you spend money with

People you spend money with

These are all what I would consider your power base.

So if you are trying to build wealth or grow your business, these are the very first people you should want to meet with.

I like to do a few things here. I like to start with a call to catch up and check in, schedule an appointment to treat them to lunch or coffee, make sure I follow them on social media, and also send a handwritten thank you note.

Keep in mind, none of these are sales tactics. I’m not going to demo them on my product unless they ask to be. I’m reconnecting and re-energizing the relationship. This will create a momentum of sorts whereby my power base begins to promote me and my wealth and business grows because of it.

If you’re reading this now, you could literally take this article and use it to grow your business today. Follow the instructions and do not deviate. Do exactly as I’ve described and you’ll see success!

This type of information is what I share with my clients and if you’re interested in learning more about that or hiring my firm as your Wealth Creation Coach click here.

Own Your Potential,

Jerry Fetta

Grant Cardone Certified Coach

Jerry Fetta helps his clients build wealth so that they can eradicate poverty in their own lives and own their potential.

He believes scarcity and abundance cannot co-exist and that the way to end poverty is to help you build wealth.

You were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.

However, the truth is that time and money must be exchanged. It just doesn’t need to be you making the exchange.

Jerry helps his clients create wealth that exchanges time and money on their behalf. The only way to do this is to make more money, keep it, and then multiply it.

He has helped clients double their income, save $100,000 tax-free, and secure 8–12% fixed annual returns on their assets.

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Jerry Fetta is the CEO and Founder of Wealth DynamX. Jerry’s mission in life is to help create millions of financially educated and wealthy families.