Friday, January 18, 2008

The Price of a Referral Relationship

I get so many calls from quality executives representing good businesses asking for introductions to other professionals that might provide quality referrals. I am happy to open my Rolodex for the right people but, sometimes, the executives I hear from do not understand the price of a referral relationship.

Here is a business truth -- "I would love to help you but what is in it for me?"

"Referrals" is the monetary unit of sale in the business of offering relationships. Not just for me (which of course I have to keep in mind) but also for the person I might connect them to.

Before you call anyone to ask for an introduction do your homework and figure out what you have to offer in trade. Do not EVER ask anyone to step up for you if you are not prepared to reciprocate.