Should You Rely on Referral Networks?

“It’s Not What You know. It’s Who You Know.” 

Unfortunately, so much of the world revolves around that statement. And that seems especially true when you start building a business. 

When you start out, you might not have a lot of material in your portfolio, a lot of fantastic reviews, or 10+ years of experience to lean on. So it’s harder to get people to commit to working with you. 

And that means, you usually need to rely more on people who know you to help you get business in the beginning.

And if you have a referral network that gets your business off the ground and moving forward, that’s wonderful! Rock on!

However…

Don’t get stuck there.

Do You Really Want to Rely on Referral Networks for the Bulk of (or Even ALL of) Your Business?

Several years ago I knew someone who owned his own small writing company. He wrote internal company documents. When he started, his referral network got him connected to one company in particular which turned out to be a long-term relationship.

He had enough work to make for very long days. And, he made a pretty good living.

Unfortunately, almost all of his work came from that one single company and its related word-of-mouth referral network. And because of the amount of work they were giving him, he became tethered to them. 

Then, one fateful day, the company decided that they were no longer outsourcing their work.

When that well dried up, so did his business.

Referral Networks are a Great Way to Get Started, But…

Once you’ve established yourself, it becomes risky to rely on them for the bulk of your income.

I suspect one reason you went into business for yourself was so that you could become more independent. You didn’t want someone else—such as an employing company—to determine your livelihood.

But, if you remain tied to a referral network for all of your business, you are simply swapping one tether for another.

I Want You to Become an INDEPENDENT Business Owner

I want you to be able to generate the income you need by yourself so that you can determine how much you make and live the life you want to lead.

That means it’s crucial for you to create your own marketing machine so that you can get leads and clients like clockwork and finally stop stressing over how you will pay those upcoming bills.

This means you need a couple of things at a bare minimum

• A website specifically designed to attract your ideal clients and convert visitors into leads and leads into clients.
• A funnel specifically designed to help people get to know you, like you, and trust you so they feel comfortable giving you their money.

Admittedly, these are not the easiest things to create. 

Sure, you can throw together a website and slap together a funnel. But if they aren’t capable of doing their job, they aren’t going to move your business forward.

So, Here are My Questions for You

Let’s do a quick assessment of where you’re at right now.

• What percentage of your clients are referrals?
• Do you have a website? 
• Do you have a funnel?
• If you have a website and funnel, how do you know whether they are working for you? 

Hopefully, you have a low number for that first question, can say “yes” to the second and third, and have a good answer for the last. 

If not, it’s probably time for some adjustments. 

I recommend going back to the basics. Step back and take a strategic look at your business. Review your ideal client research. Evaluate your content and offers. Find your weak spots and build them up. 

If you want help with this, the Happy Marketing Planner is perfect for you. 

It will walk you through an entire quarterly process designed to focus your time, energy, and resources on everything you need to do to grow and scale your business. 

It’s like an entire marketing mastermind course in planner form. 

Just click the link below if you want to know more about how the Happy Marketing Planner can help you strengthen your bottom line and build the business of your dreams.

https://wiseowlmarketing.com/planner/