Posts Tagged ‘referral sources’

Referral Learning

Friday, November 23rd, 2018

Before you instantly try to tear apart a business colleague’s, a client’s or a friend’s suggestion to meet with someone or explore a potential business opportunity, sit back and listen for a minute or two. There is three learning points: (A) the size, immediacy and relevance of the specific opportunity for you, (B) the individual’s current understanding of a high potential referral for you (clarity and accuracy) and (C) their current capability to be an immediately useful and relevant source of help, in ways you never imagined (who they are hanging out with, what they are immersed in and so on).  

Compelling Investors

Thursday, December 15th, 2016

“Please feel free to share investment opportunities in the future….” or “This isn’t right for us at this stage we have a prefer businesses with positive EBITDA” The problem with so many investors is there is no “siren call” to them. Their language is weak, their feedback is meaningless, and there is visibly close to zero commitment to a future relationship with the introduction source. In return, there is no compulsion to make you THEIR priority. To put you at the top of their call list. To keep you uppermost in their thoughts. To reciprocate, in a meaningful manner.

If the game is about identifying, attracting, evaluating, and applying impressive levels of knowledge to high-quality investment opportunities and making wise decisions consistent with an investor’s strategic goals, there is a need to constantly nurture referral sources. You don’t achieve that with bland throwaway sentences or anaemic feedback. You do that best by providing something of value to the introducer quickly (ideas, insights, other investor names, a promotional opportunity and so forth). Of course, that assumes your real intention is to have an ongoing relationship and not banish the referral source to Siberia.

© James Berkeley. 2016 All Rights Reserved.