In my role as vice chair of ACCESS Community Capital Fund and former member of their Loan Review Committee, I've attended many interviews with aspiring business people who are searching for new funding to grow their business. Perhaps the most important question I pose to them is "where does your business come from?" and the second most important is "do you have a business plan to solicit more customers?". Most applicants don't know the answer to the first question and answer "no" to the second.
As a Realtor, or perhaps best described as a sole practitioner in real estate sales, I have to ask and answer these questions of myself often. It's perhaps the most urgent issue in making for a successful career.
I mention this because of a short but invaluable piece I read in today's Globe and Mail on page B7 by Harvey Schachter, the "Monday Morning Manager". He writes about a posting on allbusiness.com by Paul McCord on how to generate more referrals from existing customers.
In my profession, referrals are the be-all and end-all. That's all there is to it. Not to say there are not other ways to generate business but I suggest to any and all aspiring Realtors that if they do not have their referral business plan operating at warp speed, they will either not be success or will burn out (whatever comes first). I might even take this a step further and suggest that my dry cleaner, my accountant, my lawyer, my video store guy etc. would do well to heed this advice. On how to generate more referrals, Mr. McCord writes:
1. ASK!
2. ASK AGAIN!
3. REALLY ASK!
4. Define a good referral.
5. Prompt them.
6. Give them time.
7. Get introduced.
Seems simple but it's worth developing the habit.
Oh, one more thing. I find most are flattered to learn their referral is that important to you. Also, they are reassured that since you want the business enough to ask for it, they feel more confident that their referrals will be well cared for.
