Five Referrals!

 A good friend of mine (he does plumbing and heating) is not only a very good BNI referral giver, but he also receives a very good number of referrals himself from members of his chapter.

He has been a member for many years and a few years ago he did some maths, which led to him getting even more referrals. Now I know that you can do the numbers, but you will require some information, and there are three things you will need on record. First, the number of referrals you give each year, second, the number of referrals that you receive each year, and third, the amount of business you receive from those referrals each year. That’s it!

Okay, so firstly, divide the amount of business you received by the number of referrals you were given. For example: you get £16,000 of work, from eight referrals, which makes each referral worth £2,000.

Then secondly, work out how many referrals you give in order to receive the number of referrals you are given.

My friend worked out that for every five referrals he gave he received one £2,000 (roughly) referral in exchange.

To drive him, he worked out that for every referral he gave it was, in effect, worth £400. But, this is the part that impressed me, he passed more and more referrals, and for every five he passed, he received about £2,000 in return!

So, if you did your maths, could you increase the number of good referrals you receive? All I can say is it’s worth a try – because it certainly worked for me!