How to Make a Referral in Business
All great companies utilize referrals as an overall part of their revenue generation plan. But if you want to receive referrals you have to know how to give a referral well.
I’m going to break down for you in this video how to both give referrals that equal conversations for those that you care about AND how to set good expectations on how others should refer to you.
What is a Referral?
A Referral is Leveraging your relational capital to benefit another person.
What A Referral Is Not
Here’s a company you should do business with. I’ll have them reach out to you if they’re interested I’ll give them your card
A Good Referral is you reaching out to a contact that can benefit from the relationship of the person you are referring AND using your relational capital to secure the meeting for them.
Two Steps To Making A Good Business Referral:
1. Call them and say “X I have someone that I want you to meet and here’s why. I think you’ll gain some value from knowing them, will you take 15m to talk with them via phone?”
2. Send an email introducing the parties and asking them to take 15m to talk via phone.
Remember if you want to receive referrals you have to be known as a person who gives referrals.
Follow this really clear 2 step process to ensure that your referral partner obtains the meeting, if you do that you’ll be known as a person who makes referrals which is a key ingredient to being referred business yourself.