How to Command High Referral Fees
Jul 12, 2023Are you experiencing a situation where you're attracting a mix of leads, some of which align with your business while others do not? If so, it's essential to have a strategy in place to handle these individuals effectively. By implementing the right approach, you can potentially turn these leads into a valuable revenue stream for your business.
Obtaining high-quality leads can be a challenging task for any business. If your brand or business attracts individuals who may or may not align with your offerings, it's crucial to explore opportunities to leverage these leads for the benefit of both your business and others. One effective way to do this is by collaborating with other businesses and sharing these leads, potentially collecting referral fees in the process. By doing so, you can not only help your friends and peers grow their businesses but also foster the growth of your own business.
Tune in to hear my advice on this topic.
The key takeaways from this episode are:
1. It's crucial to have a strategy to effectively handle leads that don't align with your business. By implementing the right approach, you can potentially turn these leads into a valuable revenue stream.
2. Collaborating with other businesses and sharing leads can be an effective way to leverage leads that don't align with your offerings. This approach benefits both your business and others, potentially generating referral fees and fostering growth.
3. Vetting leads and ensuring they meet your standards before making referrals is essential. This step helps maintain the quality of your referrals and protects your business reputation.
What you'll hear in this episode:
[0:50] Referrals are a significantly under appreciated revenue stream in business.
[2:30] How do you actually make money from referrals?
[4:20] Why I am never turning down a relationship in business.
[4:45] How can you command higher referral fees for your ability to generate leads?
[6:46] The importance of vetting all of your leads and making sure they are up to your standards before making any referrals.
Related Episodes:
Building a Marketing Plan You'll Actually Stick To with Lauren Tilden
Should I Offer a Money Back Guarantee?
How to Generate Cash Without Increasing Price
Resources:
Connect with Elmwood Bookkeeping: elmwoodbookkeepers.com
Tactical Resources:
5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh
Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa
Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash
Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide
CFO Power Session: Text POWER to 860-609-6374
See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator
Additional Resources & Connect with Shannon:
Find everything you need at https://www.keepwhatyouearn.com
Questions about this episode? Text me! https://my.community.com/shannonweinsteincpa
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
