Discover how to effectively use the referral multiplier to grow your business.

This is the second episode of The 60 Second Sale Show. In case you missed episode one you can follow this link to listen: How To Build Valuable Relationships with Your Clients

Hey there work place warriors, it's Dave Lorenzo and this is the 60 Second Sale Show, and today's show is about the referral multiplier. Today, I'm going to share with you the secrets of the referral multiplier. If you want to grow your business quickly, it doesn't matter if you are an entrepreneur, or you are a sales professional, or if you run a super big company the best way to grow your company fast is through referral. Think about it this way, if you had 50 clients, just 50 clients and you were able to convince each of them to give you one new referral four times a year, and you only closed 50% of those people who would be able to more than double, in fact, you'd be able to triple the size of your company in just 6-1/2 months.

That's right, you'd be able to triple the size of your company by just having a closing ratio of about 50% of the people who are referred to you by the folks who know you, like you, and trust you the most your clients. Today, you are going to discover the secrets of the referral multiplier. This is one of the most powerful strategies you can implement. The referral multiplier was born out of necessity.

There's the old expression necessity of the mother of invention, and the referral multiplier came about when I was sitting across from one of my best clients. In fact, my first client who was in the legal profession, my first attorney client was sitting across from me, and we were resigning. She was signing up for a second year of work with me. I was thrilled because she was the very first lawyer I had ever worked with, and we were having a discussion, and she said to me, "Dave, I can't tell you how happy I am. In the first seven months that we've worked together my business has doubled, and I was absolutely thrilled with the way I did it. I didn't have to do it in a way that made me feel like I was out selling vacuums door-to-door. I am beside myself with joy that we were able to grow, and work together for a year, and I'm happy to sign up for a second year."

As she was signing the paperwork, I said to her, "Anna, thank you so much. I can't tell you how much it fills my bucket to hear you say that. It makes me feel like I'm on top of the world. I have to ask you one question. Why is it that since you are so happy with me you've never sent me to someone else? Why is it that you've never introduced me to someone with whom I can do business? You've never given me one referral in the entire year we've worked together?"

At that point, she put the pen down, and she looked at me, tilted her head and said, "You know, I don't have a good answer to that question," and together we brainstormed, and what we came up with was the fact that number one, Anna didn't know that I wanted referrals. Sounds silly, right. She didn't know that I actually wanted her to introduce me to other people who were just like her good, high quality attorneys who are looking to grow their business.

The second thing was she didn't know who could she refer me to. She didn't know to whom I would like to be introduced. She didn't have an idea in her mind. She didn't have a mental picture of who the right person was to connect me with, and then the third thing she discovered was she didn't know how to introduce me. She didn't know that I wanted referrals. She didn't know who to introduce me to, and she didn't know how I wanted to be connected with these people.

That really got me thinking, and I developed a process that would help me attract more referrals from my best clients, and in turn, it will now help you attract more referrals from your best clients. Think about it this way.