13.  Referral Exchanges



There are numerous programmers, coders, writers and other professionals out there who take in a lot of individual projects from clients.

 

There are times when these workers have too much work to do and so they can't take on any new projects and have to pass up on them.

 

The good news is you can create a relationship with these people whereby you would take on some or all of their excess work, which you could either do yourself or outsource to other people for some extra money.

 

On the other hand, if you have too much work that you can't handle, you could also refer it to others and charge them a fee for your referral.

 

It doesn't matter which way you choose to do this, because you can profit both ways.

 

It's said that in business, there's only one kind of lead that you should be interested in. Only one kind of lead that really counts. Only one kind of lead you should care about.

 

That's white-hot leads, the kind you get through referrals from trusted partners.

 

Getting a referral means receiving a personal introduction to your prospect. This is exactly the kind of person you want to deal with-someone who is expecting your call and wants to do business with you.

 

It would be great to get all of your business from these referrals because let's face it, who wouldn't rather take a sales call than making one. You would save a lot of time and close business deals faster.

 

"The most effective, productive way to build a business is through referrals," Joanne Black, the owner of No More Cold Calling™ insists. "People do business with people and that is built on relationships." She says that referral selling has a minimum of a 50 percent conversion rate; with many reporting up to a 70 - 90 percent conversion rate.

 

In order for you to make money with referral exchanges, here are some steps you can take:

 

●   Register with some of the referral exchange forums and websites.

 

●   Locate people who are able to take on any last minute work.

 

●   Look for people who are in your industry and regularly accept work.

 

●   Decide on how much you will pay people for giving you work as well as how much to charge for giving work to others.

 

●   It's important that you always do a great job as well as only refer people who you can trust. This will ensure that you grow and don't hurt your reputation.

 

●   Give thanks - Remember to thank your referral source for making the referral, regardless of the outcome. Keeping in touch with your referral sources over time will ensure you have a great source for further referrals.

 

How much money can be made from referral exchanges?

 

The amount of profit you get will vary based on how much you are charging for referring work and what you are willing to pay people for giving you references. You need to take into account how much you will be charging to do the actual work. It's quite possible to make $100 a day with this method, as soon as you build up a decent partner base.