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Ask specific questions to get higher-value referrals

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When asking for referrals from existing clients, we should be specific about what we are looking for, otherwise, a $20,000 a year earner will only refer us to other people that earn $20,000, because that’s the market he perceives us to operate in. In terms of value of client, the nature of the question determines whether our business moves sideways or upwards.

Instead of asking “Who do you know that might benefit from a conversation with me,” ask “Who is the most successful person you know?” When asked this question, our client doesn’t think of someone who perhaps runs faster than him, it is always some form of financial measure; he earns more, has a bigger house, a better job, etc. 

We are therefore likely to get referred to someone earning $30,000-40,000. Ask the same question again, and we will get referred to someone earning $40,000-50,000, and so on.

After just a few generations of referrals, we should be dealing with people earning sufficient to mean that we need to see less people, but spend more time with them. Just don’t ask a millionaire who’s the most successful person you know. Ask him who do you know as he will know other millionaires!

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