Too many sales professionals squander the power of a referral because they have the wrong objective and bail out of the process too early. If your objective is only to secure a name, contact number, and approval to use the referral source's name, you are denying yourself the full power of the referral. Compare

Just having a name and number which you call Vs.Your client introduces you with a compelling reason on why the prospect needs to meet you.

You are 2x as likely to secure an appointment if the client leads the way and you have coached the client on how to introduce you. This part of the referral process will determine whether you hear, "I am already working with someone" OR "I was expecting your call. John said we need to meet. Let's me look at my calendar."

The more attractive the prospect, the higher the likelihood they are working with some form of advisor. They are time-starved and need to hear a compelling reason to carve out time to meet with you. You want your client to provide that compelling reason BEFORE your initial contact with the prospect.

There are two keys to tapping the power of the introduction. The first is to make sure you effectively qualify the referral. As you learn about the referral's background and life situation, you will discover the compelling reason for the introduction. Perhaps the referral is approaching retirement. The compelling reason may be the need for expert retirement advice as he deals with the big decisions and avoid wiping out a huge chunk of his retirement savings. It is in the specifics of the referral's life situation where you find the compelling reason. The second is the introduction process. You want the client to lead the way, articulate your value, and present the compelling reason why the prospect needs to meet with you now. To get your clients to undertake this leadership role, you must make it easy, efficient, and safe. The primary reason for the introduction must be for the benefit of the referral - not the advisor. Your must coach your clients on the WHY of the appointment so they will feel motivated to make sure the referral meets with you. (To be continued.)

Working with colleagues or fellow professionals on a shared development track can pay off in a big way. The combination of shared enthusiasm, enriched perspective, support, and accountability provide energy to everyone involved and can spur the development process forward. The keys are having the right people, a common mission, and a defined process. Without attention to these, the payoff is squandered time and frustration.

You want people who can contribute knowledge and energy, are serious about growing, and are willing to commit resources (time and money). Seek out individuals or organizations that have the expertise you desire. They could be people within your branch, colleagues you have met at conferences, or organizations that bring together like-minded professionals.

Secure agreement on the common objectives and the guidelines of how you will operate (format, frequency, etc.). Your initial focus can be a knowledge area or a skill set such as referrals. If appropriate, have each person commit to some action plan as a result of the meeting or take on an assignment. At the next meeting, review the action plans. This will transform your meetings from a discussion group to a development track.

During your career, you want a mix of internal and external study partners. Internal partners know your company's products and systems. The external partners bring unique expertise, a different skill set, and a broader perspective. Internal groups are most helpful early in your career. The longer you are with a company, the more you want to seek the external perspective.

This week we committed to using the strategies and the results have been amazing.

Here is a difference we see. Bill Goode's system gets little fish. The Referral Mastery System gets BIG fish." Adam M. and Chris, Jacksonville

We have received inquiries about forming a Women's Referral and Networking Study Group. This select group of women professionals will work together on a six-month development process that will focus on the newest and most creative networking techniques and state-of-the-art referral strategies. In addition, it will deal with the unique challenges and opportunities that women professionals face. We want to know how many of you are interested in this program. If you are interested, send a short email to info@referralmastery.com with your contact information. We will send you a detailed program outline and an input questionnaire so you can influence what issues will be addressed. It is your opportunity to tailor the program to your specific interests.