Are you waiting until you make partner to start building your referral network? Do you struggle to get referrals from your contacts because they don’t really understand what you do?
If you’re wondering when the right time is to start nurturing relationships that could send work your way, this episode will change how you think about networking.
I share what I’ve learned about building a referral network that actually generates business, not just pleasant coffee meetings. In this episode, I talk about why waiting until you’re senior is a costly mistake and how the relationships you build today become the decision-makers who hire you tomorrow. You’ll hear practical strategies for turning colleagues and contacts into a consistent source of quality referrals.
What you’ll learn in the podcast episode:
- Why asking for referrals straight away is the fastest way to damage a promising relationship, and what to do instead to build goodwill over time
- Why you should start building your referral network much earlier in your career than you think, and the compounding advantage this gives you over colleagues who wait
- The four types of people who need to be in your network right now if you want a steady flow of referrals in the future, including the often-overlooked group that could be your best source of work
- The critical mistake professionals make when trying to generate referrals (hint: it’s not asking too often, it’s failing to communicate something specific about what you do)
- What actually triggers a referral and the four-part formula that explains why some people get recommended constantly whilst others are never thought of
- How to educate your network on the value you provide without sounding salesy or pushy, so they know exactly when and how to refer you
You can also listen to this episode on Substack and on Apple Podcasts
This is often overlooked by professionals wanting to progress their career. But it’s probably one of the most important things you should be doing.
One question I’m regularly asked is when should you start building your referral network.
The sooner you get started on building your referral networks the better.
Why is having your own referral network so important? Let’s have a think about this:
If you have to recommend another professional such as a lawyer or accountant, who are you more likely to recommend? The friend/colleague you’ve known for years and grown your career along side, or someone you met for the first time at a networking event?
As long as your friend/colleague is credible, you’ll recommend them every single time.
Don’t wait until you’re on partner track to start building your referral network, it’s important to think about this and take steps to nurture your network much earlier in your career. This is why one of the 12 key indicators in our Partnership Readiness Assessment is your referral network.
In this podcast episode I’m going to discuss WHO needs to be in your referral network and then how to turn them into a regular source of new business in the future.
This is the How to Make Partner podcast with me, Heather Townsend. The author of The Financial Times Guide To Business Networking, The Go-to expert, Poised for Partnership, and co-author of How to Make Partner and Still Have a Life.
In this podcast, I will be highlighting some of the great stuff in our Progress To Partner Academy. New episodes are released weekly, so press subscribe so you never miss a new episode.
So who should you aim to have in your network?
Aim to stay in touch with the following people:
- Your colleagues
- The people you trained with
- Professional advisors you’ve worked with on client work
- Professional advisors who are one step ahead of you career-wise
It really will pay to stay in touch with the people you like and come into contact with professionally over the years.
If you’ve lost contact, why not get back in touch?
How do you work on building up your network of introducers? Think about who you know and who can help you get towards your ideal client. Think about your internal firm network. The sector team network you’re in. Maybe your professional body?
All these little groups of people you know who could make great introducers for you.
When you get your networking right, others will do the job of selling for you, spreading the word about your services, products or skills.
To be blunt, the relationships in your network are what will be the deciding factor for whether you win work.
Referrals are the lifeblood of any senior lawyer, accountant, or consultant who wants to be able to win their own work.
This won’t happen without a consistent focus on keeping your key relationships warm and strong.
Depending on the size of your firm and your service line you will need a strong network across your firm, other offices, and its international network plus your key client accounts, trade bodies, and sector interests.
Get to know the people who are working at your level (don’t aim for the Boardroom yet!), because they are likely to be the decision-makers of the future.
Treat everyone as an important client. If you’re seen by your firm’s decision-makers to be making contacts that could lead to business in the future, that will be vital for your reputation as “one to watch”
Generating referrals is a powerful way to grow your client portfolio, but getting your network to send them your way can be challenging ( to say the least!)
The success of your referral generation efforts hinges on the messages you communicate about yourself and what you do.
It’s all about communicating clearly. What I mean by this is that you need to be really clear about the specific kind of work you do and the value you provide to your clients.
When you think about how a referral is actually triggered, it is a combination of the following:
- an opportunity occurs, e.g. a conversation “do you know anyone who can do…..”
- credibility – who do you know who is credible in this area?
- visibility -. who pops into your mind first?
- goodwill – who do you like and want to help?
The tricky part is building your credibility. If we don’t educate our network on the types of people we work with as well as the value we bring to them, then very simply, we won’t get referrals from our network for the types of opportunities we really want.
Doing so will make it easy for your network to refer you regularly and to the right kind of work.
Effective referral generation is all about building strong relationships, providing value, and communicating your message clearly. By focusing on these key factors, you’ll be well on your way to generating more referrals and growing your client portfolio
Don’t Scare the Horses
Don’t make the mistake of asking for referrals straight away! Remember this is all about the long-term building of good sold relationships; it’s not asking for a referral in the very first conversation you have, it’s the many conversations over time that is going to lead to these people sending you work.
Your network will become your most valuable asset for your career.
Now, if you know you’d benefit from more structure, guidance, and accountability to implement keep your network top of mind and the right relationships strong, our Progress To Partner Academy is designed to provide just that. It’s packed with on-demand career help, including courses like ‘How to go from coffees to instructions’ to give you the tools and frameworks you need to start to win work via your network.
Join our Progress To Partner Academy and use the code PODCAST10 to get 10% off 12 months of premium annual membership. I’ve popped links to that, my books Poised for Partnership, The Financial Times Guide To Business Networking and How to Make Partner and Still Have a Life, and our FREE Partnership Readiness Assessment in the show notes.
That’s all for this episode of the How to Make Partner podcast. What is your one action for this week?
Think about a former colleague that you had a good relationship with. It’s time to drop them an email to see how they are doing.
If you haven’t checked your readiness for partnership yet, then take our Partnership Readiness Assessment to see where you have gaps that will handicap your ability to make partner. One of the key indicators you will be assessed against if the quality of your referral network.
If you have enjoyed this episode please leave us a review on Spotify or Apple Podcasts or give us a comment on Substack. This helps us get the word out to others who made need this advice too.
Remember to hit subscribe so you don’t miss next week’s episode. Thanks for listening!
About Progress To Partner Academy: On-demand career help and guidance
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Join our Progress To Partner Academy and use the code PODCAST10 to get 10% off 12 months of premium annual membership.
Links
Complete my FREE Partnership Readiness Assessment – to see where you have gaps in your own development – you’ll get a personalised report with actions for what progress your career forward
Connect with me on LinkedIn
Join Progress To Partner Academy and use the code PODCAST10 to get 10% off 12 months of premium annual membership.
Buy your hard copy of Poised for Partnership or buy the Ebook here
Buy your copy of How To Make Partner And Still Have A Life
Buy your copy of The Go To Expert
Buy your copy of The Financial Times Guide To Business Networking
Join my Progress To Partner Academy and access all my courses and use the code PODCASTBP10 to get 10% off 12 months of premium annual membership.
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