Rick Watson: Building a Professional Network

In this episode, Steve Fretzin and Rick Watson discuss:Building a professional network (and how to do it right). Things lawyers are really bad at doing. The hidden sales in your professional service firm. Being likable and referrable.  Key Takeaways:There is a difference between building a wide network (full of lots of people) and building a deep network, with great referral partners that can help you to bring in work regularly. Balancing giving and taking in your network. Build up those you’re networking with and give them the hype that they deserve in your introductions. Trust compression is the human tendency to make decisions about others based on the number of interactions, not the length of those interactions. Be creative in keeping top of mind and in touch with people. It takes time and attention, but is worth maintaining those relationships.  "One of the things you can do to make yourself look bigger and better is to edify the people around you." —  Rick WatsonGet a free audio copy of Steve’s book “Legal Business Development Isn’t Rocket Science” here: https://fretzin.com/audiobook Thank you to our Sponsors!Lawmatics: https://www.lawmatics.com/1-month-free/Get Staffed Up: https://getstaffedup.com/bethatlawyer/Get Visible: https://www.getvisible.com/ Episode References: Rework by Jason Fried About Rick Watson: Rick Watson is the author of “A Firm Worth Building”, which helps professional businesses scale and thrive. He identifies a common problem advice professionals all seem to share. These business owners focus more on performing their professional specialty rather than what it takes to run the business well. Many professional firms, struggle to find “good” growth. Some professionals even look to discard a percentage of their client book every few years, as a way of managing growth. Rick would say this is all backward. When you build a strong business, as the firm grows it gets easier to run, not harder.Rick’s unique experience was forged from growing a firm with only $20 in his savings to managing ½ billion dollars in his current RIA and becoming the CEO of the National Referral Network and several other businesses which has forced him to be a student of running businesses in the best possible way. Rick’s book “A Firm Worth Building” covers about 30 lessons that every business owner should know, from thinking through branding to increasing referrals through professional networks. Additionally, he has a few unique success concepts like compressing the time it takes to build client trust and why building up your staff and other professionals through a dedicated process of “edification” is so helpful. He and his partners are forward-thinkers, their motto is - "We build what should exist". Rick and his team are not afraid of complexity, hard work, or innovation. Rick’s accomplishments have opened the path to achieving his own dreams. Living with his family on a 5-acre horse ranch and wine-making operation in Loomis, CA, he still finds the time to enjoy the life that he has been able to build through embodying his own teachings. When he's not helping manage and scale businesses, Rick rides Arabian horses in 30-100 mile races. Connect with Rick Watson:  Website: protectionpointadvisors.comnrnamerica.comLinkedIn: linkedin.com/in/rickwatsonppalinkedin.com/company/protectionpointadvisorslinkedin.com/company/national-referral-networkFacebook: facebook.com/richard.watson.92351facebook.com/protectionpointadvisorsBook: A Firm Worth Building Connect with Steve Fretzin:LinkedIn: Steve FretzinTwitter: @stevefretzinInstagram: @fretzinsteveFacebook: Fretzin, Inc.Website: Fretzin.comEmail: Steve@Fretzin.comBook: Legal Business Development Isn't Rocket Science and more!YouTube: Steve FretzinCall Steve directly at 847-602-6911 Show notes by Podcastologist Chelsea Taylor-Sturkie Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.