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December 12, 2012
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8 Myths About Building a Referral-based Business

By Ann Hosmer, Team Management Specialist, Building Winning Teams

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Lately I am meeting a number of people who want coaching around building a referral ? based business. Why not? If you have a choice between chasing down prospective clients by cold calling, or attracting them to you by referral, which is more effective in building a lasting book of business? Ultimately our goal is to have our existing clients generate introductions to new prospective clients who will see us based upon the respect they have for the person making the referral. Unfortunately we allow certain beliefs and misconceptions to reoccur that cloud our judgment. So, let?s take a few moments to examine eight of the more common ways we are going wrong, and the results we are not getting.

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MYTH # 1 ? ?THE REFERRALS I GET ARE NO HIGHER QUALITY THAN THE COLD CALLS I MAKE.?

FALSE: This is a problem for you because you don?t have a system to follow to obtain referrals. You are not asking soon enough or in the right way to gain high quality referrals.

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MYTH #2 ? ?I CAN?T ASK FOR REFERRALS UNTIL AFTER I HAVE DONE WORK FOR MY CLIENT.?

FALSE: Create a system for asking and following up like you would plant a garden. To build a clientele, you must start by planting the seed when you first meet the client. ?Joan, I grow my business through introductions from existing clients. As we work together, I will ask you to introduce me to friends and business associates who will gladly speak with me based upon the respect they have for you.? Empower your client to see value in helping you grow your business.

MYTH # 3 ? ?IT IS IMPORTANT THAT EACH NEW CLIENT SEE ME AS AN EXPERT.?

FALSE: Change your language. Begin thinking of yourself as a problem-solver rather than a sales person. Stop asking for referrals, and ask for introductions. Stop referring to new people as leads and prospects and speak of them as prospective clients. Do you feel the subtle shift in energy?

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MYTH # 4- TO BUILD CREDIBILITY WITH A NEW CLIENT, I HAVE TO ?SELL MYSELF? AS AN EXPERT IN MY FIELD.?

FALSE: Allow yourself to radiate credibility. ?Selling yourself? focuses your attention upon you rather than the client. You are attempting to connect with your head instead of your heart. To build your relationship, you must connect heart to heart. Your client must feel how much you care before they will acknowledge your credibility.

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MYTH # 5 ? ?BY ASKING A REFERRING PARTY TO ?QUALIFY? A PROSPECTIVE CLIENT, I AM BEING TOO PUSHY.?

FALSE: The more detail you have about this person right down to the names of their children, their pets, and their hobbies, the easier it will be to connect with them heart to heart, allowing instant rapport to become lasting trust.

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MYTH # 6 ? ?WHEN ASKING FOR NEW INTRODUCTIONS, I SHOULD ALLOW THE REFERRING PARTY TO SELECT THE RIGHT PERSON?

FALSE: The more specific you are in the description of your ideal client, the easier you make it for the referring party to identify the right person.

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MYTH # 7 ? ?WHEN ASKING A REFERRING PARTY TO MAKE AN INTRODUCTION ON MY BEHALF, I SHOULD REQUEST THE PERSON CALL TO ALERT THEM THAT I WILL CALL.?

FALSE: The ideal setup for a new introduction is to share a conference call or a meal between the three of you. Otherwise, you allow someone else to control the process.

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MYTH # 8 ? ?ONCE I HAVE A NEW CLIENT FROM A REFERRING CLIENT OR CENTER OF INFLUENCE, I HAVE THEM FOR LIFE.?

FALSE: You must water the garden and grow the flowers by sharing new products and educational events. Otherwise, they lose interest in you and climb on board with someone else who fills your shoes and tends the garden.

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So, there you have eight of the most common myths that keep us ineffective at building a referral-based business. Would you like to learn how to bust the myths and build your business around a strong foundation of referral-based marketing? I am seeking 20 women entrepreneurs to join my October Mastermind Group for 8 weeks for a flat $250.00 each. Or, bring an associate and join for $200.00 each. To sign up or gain more information, contact me, using the information below:

Ann Hosmer, Team Management Specialist is the founder of Building Winning Teams, a company that assists entrepreneurs and small business owners gain tools and strategies to build and develop a team that is self-motivated and united behind your mission, freeing you from managing people to focus upon the kind of work you love the most. Sign up for the next MASTERMIND GROUP by calling her at 410-752-3437. Or, email her: annhosmer@buildingwinningteams.com with SUCCESS STRATEGIES in the subject line.

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Source: http://www.womanscopenewsmagazine.com/business/2012/12/12/8-myths-about-building-a-referral-based-business/

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