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Step 8 of Building a Better Business: Build Strong Networks for Referral Generation in Your Business

Posted by: Ewen Fletcher on

Referrals are a powerful means of securing new business, and one effective way to generate them is by building strong networks. Networking and referrals offer a cost-effective strategy for business growth, with a potentially significant return on investment. Here are five ways to maximise referrals from your networks:

Calculate the Lifetime Value of a New Customer

Identify Complementary Businesses

strong networks concept

Practice the Law of Reciprocity

Discover Target Client Hangouts

Engage with Non-Profit Organisations

Remember the wise words of Keith Ferrazzi: “The currency of real networking is not greed, but generosity.”

Take action today to expand your network and optimise your referral potential. What steps can you implement right now to build strong networks?

On Tuesday 13 February from 8-9am, Sharp Accounting will be running our Building a Better Business in 10 Steps Seminar. This will be held at our offices here in Ballarat. Click here to find out more and register at no cost.

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