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Follow on Google News | Top 10 Outcomes to Expect from Referral SourcesIn the best of all possible worlds, we would spend our free time sharing prospective clients with our referral sources. What can you expect from the relationship with a referral source? See these "Top 10 Outcomes."
By: Lyne Noella In the best of all possible worlds, says Noella, we would spend our free time sharing prospective clients with our referral sources. “In reality, the relationship with referral sources is more nuanced. You get much more from a referral source than the transactional exchange of prospects.” What can you expect from the relationship with a referral source? The following are Noella’s "Top 10 Outcomes" for the results-oriented service provider: Under the category of information, ideas and friendship: 1. Market intelligence: 2. Advice and guidance: “You're not in this alone. Lean on your referral sources to provide you with the information, introductions and advice you need to succeed.” 3. New talent and resources. “Your firm needs unfair advantage in terms of talent and resources. Turn to your referral sources for ideas and introductions.” 4. Brainstorming and problem-solving: 5. Inspiration and fun: “Look, if you have a referral source who does nothing but inspire you to pursue new ideas and ventures, that relationship is GOLD. And why not have fun while creating and nurturing quality referral relationships?” Under the category of new business: 1. Referrals to prospective clients: “Okay, here's the goldmine—new clients. Need I say more?” 2. Introductions to new referral sources: “Do not leave a single meeting without exchanging promises to make helpful introductions. Every quality service provider is a potential source of new business opportunities— 3. New opportunities: 4. A passport to new communities: 5. Creative marketing and strategic alliances: “Clients and prospects will be excited when you bring solutions to the table that extend beyond your firm's capabilities. Engage your referral sources to create solutions that add value and opportunities to the marketplace.” “You get the idea,” says Noella, “relationships with your friends/referral sources are limited only by your imagination. The referral source relationship is not a transaction— # # # About WavePlay LLC WavePlay LLC www.waveplayllc.com, based in Palo Alto, California, is a boutique agency that helps executives solve problems and meet goals via introductions to professional service providers (accountants, attorneys, investment bankers, technologists, etc.). Executives at public and privately held companies can request an introduction to WavePlay’s portfolio of seasoned service providers when dealing with mergers and acquisitions, international expansion and ventures, corporate transactions and finance, tax planning, audit services, technology transactions and solutions, outsourcing, startups, fund formation and other initiatives. The WavePlay website www.waveplayllc.com provides access to service providers as well as customer relationship marketing and management tips for executives. End
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