60: How to Grow Your Business Through Referrals Without Even Asking
Do you want to get quality business referrals without even having to ask? This seems too good to be true, but today’s guest Stacey Brown Randall says she has cracked the code. Stacey joins Nana on Build Value By Choice to talk about how you can grow your business through referrals and how you can get them without having to ask.
KEY TAKEAWAYS
- In her first year of business, Stacey gained 112 referrals without having to ask for them.
- You can’t just assume that you can build your business and the customers will come. Referrals are one of the best ways to bring in new business and referrals that you don’t need to work for are the most time efficient form of winning work.
- Every business is capable of receiving referrals and there are lots of strategies out there, depending on the industry that you’re in. Stacey’s strategy gets the best results typically in professional services.
- The number one thing people have to do is know who their referral sources are. It’sthe starting point for every business owner. Identify their referral sources, and that means you need to sit down and actually figure out where your clients and your prospects are coming from? Did they come through a Facebook ad? Did they come from a networking event or were they referred to you by someone else?
- Remember to nurture your referral sources so that they continue to provide referrals to you in the future and stay a consistent source of work.
BEST MOMENTS
‘I’ve been doing this almost 10 years now, and over time I’ve just gotten better and better’
‘I got 112 referrals and my first year in business and I didn’t ask for them’
‘Not every prospect becomes a client but the people who referred those clients are prospects to you’
EPISODE RESOURCES
Stacey Brown Randall
VALUABLE RESOURCES
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ABOUT THE GUEST
“I set out to crack the code on generating referrals WITHOUT asking. And crack it I did! When I started my next entrepreneurial venture, I applied my referral strategy and had crazy success.In my first year as a business coach, I generated 112 referrals that I did not ask for. Since then, year over year, I have been able to generate triple digit referrals.
When demand for my coaching services went up, supply went down, and my clients noticed. It was harder to get on my schedule, and they wanted to know why. So, I started teaching them my referral plan and they started having the same success as well. In some cases, I have better success than me.”
PODCAST DESCRIPTION
Hosted by Nana Bonsu of Infinite Horizons, this show aims to serve small business owners who want to grow their businesses while reducing their own personal involvement. We do this through a combination of interviews with industry leaders, and host presentations. We are certified value builder advisors and leverage a statistically proven methodology to help clients such as you scale or transition their business to the next chapter.
We care for our listeners and see their dreams as our own. We aim to foster a community that embraces freedom, generosity, and integrity. This is a show by entrepreneurs and business owners for entrepreneurs and business owners.
ABOUT THE HOST
Nana Bonsu:
“I am an entrepreneur and ex-Corporate Executive who’s applying his experience and knowledge from working in various ways to pursue my passion of helping small business owners increase their choices in life by leveraging my knowledge and experience, their employees, systems and money. I help small business owners transform their business and increase value through action-oriented education and implementation of strategies and tactics to make their business sellable even if they are not planning on selling. Known for establishing an environment for personal growth and development. My multicultural background equips me with the intuitive understanding of different cultures and how they impact business owners.”
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