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Practice Management > Building Your Business > Young Professionals

Generating referrals

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  1. Call professionals you would like to have a referral arrangement with and ask to set up a short appointment.
  2. When you receive a referral from a client, ask the client to introduce you to the person.
  3. The story a client tells about an advisor is the make-or-break facet of an introduction. Coach the client to make sure the story he tells is compelling.
  4. Recap how you have helped a client’s situation since he started working with you to prime them to tell a good story.
  5. To get quality referrals, define for your client exactly what a quality referral is for you.
  6. Ask a direct, referral-seeking question to your client instead of making a half-hearted request or suggestion.
  7. Prepare your client during the sales process to give referrals by informing him up front that you are a referral-based advisor and expect referrals as long as you do a good job.
  8. Educate your client on why it is in his best interest to provide referrals.
  9. A lack of training in generating quality referrals is the main reason most advisors fail to obtain quality referrals.
  10. Believe you deserve referrals by coming up with reasons why.