Referral
Groups ….
and the Value They Have on Your Business
Throughout business,
people are faced with challenges when a client asks
for recommendations, suggesting a professional
who can help with various services and products. In addition,
business people are faced
with challenges of surviving in the competitive business
marketplace. These challenges are a development
of a team building process, thus
the purpose of referral groups.
Referral groups
exist to enhance business development and personal growth
opportunities for involved members. These groups consist
of members who are effective networkers and are referable
themselves. Who
do you know? Who recommends you? And how you found out about
us, are some of the key questions asked as business people
seek to make progress, prosper and even survive in today's
business community. This concept,
referrability, is what makes network referral groups a great
business tool.
 This
is how network referral groups work: you pay an
incentive for a referral to that group of members that is
use to structure your business. The referral is
someone who knows something about you from the referrer.
When you are in business, especially an independent business,
warm, legitimate referrals
are the life line of your business. Those
types of referrals are easy and comfortable to follow up
with than the frustration
of making daily cold calls.
The major advantage of a warm referral versus
cold calling is that your credibility has been established
with that person.
Network
referral groups offer the value of eliminating the expense
and time of locating someone to provide services and products
that clients need. Basically, it is a one-stop
shop. A good group should consist of members
who can network among each other. For example, a realtor
could do business with a mortgage lender; a mortgage
lender could do business with a financial advisor
and a financial advisor could do business with a CPA.
Referral
groups are convenient and solve many challenges facing business
people. A businessperson should be able
to meet the people she needs to meet in a referral group.
People like the accessibility
of locating everything in one circle of professionals.
The convenience of approaching or referring someone within
a network referral group makes it easier.
 However,
there are still a few business people who consider
referral groups not beneficial to their needs.
Perhaps their failure is due to a lack of given referrals.
The key is to success is that as members you have to contribute
to the group as well receive. A
network referral group is what the members make out of it.
Referral groups are support groups. Their
purpose is to provide group support and enhance one's business.
Today most
businesses, especially small businesses, are in some type
of network, referral organization. Their services
come from referrals within that group. The relationships
that you build and the business
connections you make have a tremendous influence on the
success of your business.
Referrals will come to you without you ever having
to ask when the relationship of integrity and trust has
been established. Being part
of a referral group is one of the major ways to do business. |
Tiyi
N. Moori, a business advisor and productivity consultant, focuses on assisting
small business owners and professionals with writing effective business
plans and grant writing. Moori’s mission is to live life with passion
and purpose and to inspire others to do the same while achieving financial
success.
Offering
a
rare
blend
of
creative
and
strategic
strengths,
Moori
has
achieved
exciting
success
in
organizing
and
implementing
business
concepts
and
organizational
development.
She
is
recognized
for
her
success
in
establishing
“Networking
for
the
Best”
(NFB),
an
after-hours
business
organization,
in
2003,
and
maintaining
its
membership.