The second most important stream...

Any talk about business invariably turns to the concept of the cash stream. Net positive cash flowing through the organization will allow it to invest in future revenue/profit growth in some form or another.

With the limited revenue forecasts that we have, normally around 6 – 10 months, this becomes all the more important. If we have cash we can spend money on sales teams, marketers, new products and services, IP strategies, hiring ahead of the curve and a range of additional factors to make sure that we are able to keep our cash streams rising.

However, before we can receive revenue, we need to sell, and before we can sell our prospects need to know of us, and they need to be comfortable spending money with us.

So the second most important stream into your company, after that of cash, is the stream of client referrals.

Client referrals are probably the most powerful way to prove that you can do what you say you can do. If a former client is happy to tell others that you achieved what they asked of you – and more, then your credibility just went through the roof.

No matter who you are, what you have written, or who you have worked with – the voice of an impartial former (or existing) client is far more powerful than any emotional or technical appeal you might be able to make.

Great but, how do you do that?

Dead easy....

1. Deliver value, at all times, in all engagements.

2. Make sure that you advertise and publicize internally the value that you are achieving. (Widely and truthfully)

3. Ask for the referral before the assignment finishes. (Vital)

4. Collect testimonials on public and private courses, get permission to use them. Even if only anonymously.

5. Make sure that you keep in contact with former clients. Apart from the potential value of renewed business, there is also the value of them providing an on-the-telephone referral for your business.

You can't execute without sales, and you can't sell if clients don't know about you or don't have any good reason to consider doing business with you.

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