In these challenging economic times people are competing harder than ever for new business leads. No matter your field one of the best sources of new leads is referrals from people who know your prospective client.
I had a meeting recently with Shan Mohamed, a young man who left McShea many years ago to pursue a career in banking. He told me his first assignment with the bank he worked for was to shadow the top-producing mortgage salesman in the region. (This was back when the mortgage divisions made tons of money for their banks. Remember those days?) The gentleman had a daily routine of calling his bank’s clients to find out who was looking for a home or a building. Then he would go to meetings with groups of realtors and give them referrals based on the clients he knew were looking for property. Who do you think those realtors recommended their clients call when they were ready to buy?
The banker’s theory was that you get what you give in life. It’s important to note here that he gave his recommendations of the realtors freely. This was a not an under-the-table, “You scratch my back, I’ll scratch yours” arrangement between this banker and the realtors. He freely gave these recommendations knowing there was a chance he wouldn’t get anything in return. But he also knew that giving referrals is a great way to get referrals. Shan learned this lesson well. Ironically, the day I met with Shan he referred a client to me. You know the first person who’ll come to my mind if that client decides to purchase a building.
In this world full of “takers” it is still important to remember that “a man reaps what he sows.” Be generous in referring business to others and you will likely find others are generous in referring business to you later on.
Have a great weekend,
Ro