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Steve Beecham is an author, speaker, and business owner. He owns Home Town Mortgage. He discusses his business experience, referral marketing strategies, and speaking career to provide insights for entrepreneurs.
Key Takeaways
- Referral-based businesses thrive on deep relationships; join multiple organizations to expand your network
- Provide value and "wow" experiences to generate reciprocity and increase referrals
- Speaking careers require consistent effort in marketing and building an audience
- Diversifying business interests can lead to new opportunities and growth
Topics
Steve Beecham's Business Background
- 30+ years in the mortgage industry
- Owns boutique mortgage company with son and small team
- Survived the 2008 financial crisis by pivoting to writing and speaking
- Published 4 books on becoming a community's "go-to" person
Referral Marketing Strategies
- Focus on making people aware of your business existence
- Paint vivid pictures of what you're looking for when asking for referrals
- Join multiple organizations (e.g., Rotary, Chamber of Commerce) to build deep relationships
- Aim for one new deal per month from each organization joined
- Leverage social media: "kidnap" friends on Facebook to expand network
Creating "Wow" Experiences
- Go beyond good service to create memorable experiences
- Explore clients' personal interests/needs beyond your service
- "Wow" experiences double referral rates from 10% to 20-25%
- Example: Helping a client's son find a job in an unrelated field
Speaking Career Development
- Wrote his first book during the 2008 financial crisis, leading to speaking opportunities
- Started with free 20-minute speeches at local Rotary clubs
- Expanded to paid speaking engagements through connections (e.g., Edward Jones)
- Treat speaking as a business: market yourself, build an audience
- Leverage social media and existing network for speaking opportunities
Business Diversification
- Invested in painting and HVAC businesses using marketing expertise
- Exploring hard money loans for house flippers
- Advice: Buy and hold properties for long-term wealth-building
