In this episode, Mike Garrison, and his guest Lori Power discuss Referrals and Business Relationships. 

- Mike and Lori emphasize the importance of having meaningful conversations and building relationships in business.

- They discuss how early in one's career, people tend to accept more referrals out of desperation, which can lead to "car wrecks" or unsuccessful partnerships.

- As professionals become more experienced, they become more selective about referrals and focus on quality over quantity.

Characteristics of Good Referral Partners

- The ability to have genuine conversations and ask thoughtful questions is highly valued.

- Knowledge transfer and confidence (not ego) are crucial for successful referrals.

- Affinity and shared interests can strengthen referral relationships.

Referral Strategies

- Following up after making a referral is crucial for maintaining relationships and mitigating risks.

- Understanding the expectations and potential outcomes of a referral before making it can prevent issues.

- Reciprocity in referrals is not required but can strengthen business relationships.

Value of Referrals

- Both speakers emphasize that referrals take time and have monetary value, so they should be given thoughtfully.

- Quality referrals are more important than quantity, and having too many referral partners can be counterproductive.

About Mike and Lori

- Lori Power works in group benefits consulting and is based in Northern Alberta.

- Mike Garrison is the author of "Can I Borrow Your Car?" and focuses on referral strategies.

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