Without a doubt, referrals are the best source of qualified leads.  When friends, business associates or clients recommend you and your company to someone they know, your odds of bringing home the bacon increase.

When you receive a referral you have pre-approved authority to conduct business with the person referred to you.  It’s a matter of commonality and endorsement and you are operating on a higher level of trust and the prospect-turned-client and a stronger sense of loyalty from the get-go.  It’s a third party recommendation.

Many salespeople don’t capitalize on the power of referrals simply because they either are afraid to ask for them or feel that asking is pushing and are uncomfortable making the request.

The real key to getting referrals is to ask for them at the appropriate time in the sales scenario.  Once the customer sees value in what you’re proposing, whether they buy or not, is the time to pop the question

What do you have to lose?

William F. Kendy – TBS