Referred Business Takes Time
As a business owner, I am always on the lookout for potential new business. Not just with people and businesses that would benefit from my products and services, but also with people that can make introductions and refer me to people they know. This of course is sales & networking 101.
This type of networking usually pays off in time. Seldom do I expect to meet someone and then have new business referred to me by that person right away. It’s a numbers game really. For every 10 people you meet that agree to refer you business, you can expect 2 or 3 referrals a year from one of them. Of course this ratio can vary from business to business and industry to industry.
But sometimes, it can pay off quickly.
One recent example of this paying off immediately came when I joined a local business networking group called the Business Vision Network, or BVN. After the first session of a BVN workshop series earlier this year, I met up with a few other participants over the next several weeks. One of them agreed to introduce me to clients that would need our mobile marketing product and lo-and-behold about a week or two later this person introduced me to a prospective client of his.
We met with the prospective client together and over the next couple of weeks he followed up with them, which was great because it is usually better for the person referring the business to do the follow up. Shortly after that they called him and said they wanted to press forward with the product.
All-in-all, this process took about 6 weeks I believe from the time the referring business owner and I met until the time when the referral became a customer. Six weeks might seem like a long time, but it goes by quickly, which is why it’s important to do a lot of networking for this purpose at all times to keep multiple irons in the fire. You never know when one is going to POP!
About BVN: Business Vision Network is an international network of businesses and organizations that are partnered together to positively impact local and global communities. This post was written to be included as a Success Story in a forthcoming issue of the BVN newsletter. To learn more about BVN or to get a taste for things to come, visit the BVN website and also join the BVN Facebook Page which was recently launched to start growing this business community online.