Too many small and solo business owners get bent out of shape about referrals – they don’t get enough, or they give too many that go unappreciated, or they expect payment without ever asking for payment or making their expectations clear.
It’s just a mess.
So to help YOU avoid disappointment on both sides of the equation, here’s a template you can borrow – adapt – steal – whenever someone GIVES YOU a referral:
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Susan,
Thank you so much for the referral to Paul – I appreciate you.
Will keep you posted as to what develops.
Thinking optimistically – assuming Paul signs on as a client – how do you like to handle referrals financially speaking?
I’m happy to give some referral partners a 10% thank-you gift (for working with folks like Paul, the typical fee is XXXX so 10% is YYY) – some other folks just prefer a nice dinner out via a gift card – and some folks who refer business to me insist on nothing more than good karma and reciprocation when appropriate.
Just let me know and then we can bust the doors down for Paul!!
— David
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On the other hand, when GIVING a referral, and if that referral shows up at your referral partner’s door, this version of the same note might help you STOP feeling like a martyr and set clear expectations from the get-go that you DO like to be compensated while asking your referral partner what arrangement would make them comfortable:
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Susan,
I’m so glad Paul ended up connecting with you and that you two discussed the possibility of working together. Please do keep me posted as to what develops.
Thinking optimistically – assuming Paul signs on as a client – how do you like to handle referrals financially speaking?
Some of my referral partners share a 10% cash referral fee – some other folks underwrite a nice dinner out via a gift card – and others show their appreciation in other ways (services, discounts, lavish gift baskets, etc).
Just let me know how you like to operate and that will open the door for even more introductions to great folks like Paul in the future.
I appreciate you.
— David
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