How to Make Money Connecting People Instead of "Dots"
This question sent to me last week:
Question: I’ve heard there are ways to make money bringing people together for deals or by making simple introduction. Is that true?
Question: I’ve heard there are ways to make money bringing people together for deals or by making simple introduction. Is that true?
Bob Jenkins - Arizona
8:33 AM
Dear Entrepreneur:
You can make money “connecting” people instead of "dots:. I’ll show you how I make money doing this.
A “Connector” is someone who brings people or companies together and collects a fee or commission when a “deal” or agreement between two or more parties is consummated.
When I started out as a “Connector” I charged a flat fee to the entrepreneur who was interested buying a business in Colorado.
A few years later I leaned toward earning a percentage of each transaction or deal. I found people are very receptive to concept of percentages on a deal. But I still made commission on some deals.
My first year as a “Connector” I made $22,000. By my third year I was making more than $50,000 per year…all by making a few phone calls, sending some email and once in awhile face-to-face meetings and travel.
Another recent example…..
I read about an entrepreneur looking to acquire travel focused websites in a business newsletter.
The prospective buyer was only interested in travel websites with significant traffic, fully functional ecommerce and professional programming code.
I contacted the prospective buyer by email, introduced myself, and sent him a link to my website with background information and client testimonials. The buyer responded immediately expressing his interest in working together.
I explained my “Connector” service, and submitted a proposal with a fee recommendation. The buyer/client agreed to the terms of the deal.
Simple Steps to This Business
1) I located two travel websites which met his criteria.
2) I introduced the prospective buyer to both travel website principles. One of the websites was a perfect fit and the prospective buyer made an offer to the seller through yours truly. The final sale price was negotiated in a few days.
3) When the travel website sale was completed, I received a wire transfer for $2250, which was my “Connector’s” fee – in this case 3% of the deal. The entire deal consisted of less than 3 hours of work.
You can locate people and companies who looking for products, businesses, land, commercial real estate, surplus inventory, bankrupt companies, and capital, etc. in top national business newspapers such as The Wall Street Journal, Investors Daily, The New York Times (Sunday Edition), Chicago Tribune, Miami Herald, and the Los Angeles Times.
There are hundreds of useful websites for finding clients and “Connector” deals too.
Here are some sites I used for locating clients and “Connector” deals:
· Alibaba.com is an excellent source for finding companies looking for specific products.
· International Wealth Success publishes electronic and print newsletters with an abundance of contacts and leads for “Connectors”. They also publish a comprehensive course on becoming a “Connector” (also known as a Finder’s Agent).
· South China Morning Post, London Times and the Gulf Times.
For smaller deals, you can find Finder’s Agent or “Connector” prospects on classified sites like CraigsList, Crain.com Classifieds, eBay Classifieds, and Backpage.com .
You can also advertise your availability as a “Connector” to qualified prospects on business networking like IWS Money, Ryze, Biznik, and FastPitch.
You’ll also find a boatload of joint venture clients and “Connector” deals on these sites:
Warrior Joint Ventures
AdSwapFinder.com
ListSwapper.com
ImAdSwaps.com
Being a “Connector” is a fun sideline business for anyone who enjoys putting deals together and introducing prospective buyers and sellers.
Most of the “Connector” deals and introduction I’ve developed over years have been done online, but this is a great offline service too.
Another recent example….
I recently introduced a gentlemen looking to buy a small marina with a women interested in selling. My prospective “cash out” should be about $10,000 if a deal is consummated!
Getting Started ASAP
The first step to success in this business is choosing an area market to “connect” people to, such as real estate, money, business purchases, commodities, products, web-based business brokerage, etc.
The next step would be assembling as much information as possible in your chosen field. Hopefully you’ll already be familiar with the field or market in which you chose to work. But either way you’ll need to compile some information on typical prices, demand, profiles of current deals, scarcity of items, etc.
Reach out to people or companies in need of the products, markets or items in which you specialize. Explain your “connector” or finder service and your proposed fees.
Present a simple Finder Agreement to prospective clients.
International Wealth Success offers a great Global Finder Kit for around $100 and it includes Finder Agreements. But you can also Google Finder Agreements in an Image Search.
Connecting people and companies to the products and deals they seek is a lot of fun and it’s a great part or full time business.
An entrepreneur contacted me out of the blue recently seeking a non-bank investment or loan for a group of upscale mobile home parks he’s seeking to acquire. I’ll be “connecting” the entrepreneur with three “A prospects”, and earn a small fee when and if a deal is completed – sweet.
If a “Connector” business is a good fit for you – click here and tell me about it.
I’m considering the development of a program to help entrepreneurs make money in this business!
Your humble host,
Marc Charles
Marc Charles
***** Action Strategy *****
When you start a new venture one of the hardest things to do is take action.
This is especially true if you’re not familiar with a market, product, service or business.
But put this aside and take series of simple steps or actions.
Today you can do this by checking out the links and resources I’ve enclosed.
Then write down one idea that “pops” into your head. Next, act on the idea.
For example, after checking the links and reading information one idea which pops into your head may be bringing a buyer and seller of a business together.
In your city, town or area you find a coffee shop for sale. You could post some information about this sale in a wealthy area of the country, either on CraigsList, business website or in the Wall Street Journal. Your objective is to bring two parties together and be compensated for it.
Use your imagination. What kind of deal can you put together? Who could you “connect”?
Have fun and play nice.
*****Valuable Resources*****
Tumano (small business classifieds)
Warrior Joint Ventures
Business Networking International
LinkedIn
Reuters Business Deals
BusinessDeals.biz
BizBuySell (huge Internet marketplace for business)
Facebook (search business)
IWS Classifieds
AskMarcCharles (send me your business idea or question)
