Word of mouth referrals can be a powerful tool to increase business. There are many ways to strengthen your relationship with referral sources:
Have a one-on-one meeting. Having an in person discussing provides the opportunity to learn more about his or her business interests and to provide details on your business.
Send a thank-you card. A personalized note in the mail thanking your referral source for something can have a powerful impact in this computer age.
Send a gift. Like a thank-you card, a gift — however small or inexpensive — can help build visibility and credibility with your referral source.
Keep in contact. An occasional, casual phone call is a good way to keep the relationship strong
Extend an invitation. Invite a referral source to an event. It may also provide new business opportunities for you both.
Be a source of referral. If you can provide the referral source with some business, it provides them with more incentive to provide you with business.
If you need help growing your business, contact us at 204-478-7266 x110.
This article originally appeared in the May 2011 edition of The Beal Business Advisor. The newsletter also includes:
- The Buying Process
- The Business Sales Process
- Quote of the Month
- Businesses Available for Sale
Check it out here.
About Beal Consultants, Business Growth Professionals
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You are competing against many competitors, not just your direct competitors, but all your indirect competitors as well. You are vying for attention in an increasingly complex and crowded marketplace. You need to clearly understand – and you need to communicate to your clients – your key value proposition – why should they do business with you? Understanding your value proposition is key to differentiating yourself in today’s marketplace, and is key to having a sustainable competitive advantage. Your business strategy and business success relies on having a crystal clear understanding of your unique competitive advantage.
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We provide counsel, guidance and support throughout the process of selling a business. Some of the advantages of hiring an intermediary to sell your business include: confidentiality, creating and executing the marketing package, negotiation, and buyer screening.
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Looking to retire? Great! Is your business ready for you to retire? Can you afford to retire? Do you know how to minimize your tax burden when you are looking to sell or pass your business on to your children? We can help you understand the options that are available to you. Think it’s too early? The earlier you start, the more your business can be worth, and the more options you have to minimize taxes. If you’re thinking of getting out within five or less years, start planning today!
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