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Lead or Referral?  How Hard Do You Want to Work?

Business professionals love receiving leads and referrals. Many use the terms interchangeably to track the effectiveness of their networking efforts. However, effective and efficient networkers know that there’s a big difference between the two.

LEAD OR REFERRAL? HOW HARD DO YOU WANT TO WORK? 

By David Crumbaugh, CPA, Co-founder, Nspired Networking Enterprises, LLC - July 2015

Business professionals love receiving leads and referrals. Many use the terms interchangeably to track the effectiveness of their networking efforts. H

owever, effective and efficient networkers know that there’s a big difference between the two.

 

Leads are opportunities that someone may suggest to you. However, there’s been no direct conversation between them or the “LEAD” that allowed them to specifically recommend you or your product or services. So it is up to you to make that COLD CALL. 

 

Referrals are opportunities where your referral partners have specifically generated, recommended, or introduced you or your product or services. The REFERRAL is already warmed up! The great thing about referrals is that while discovering this opportunity they also uncovered how urgent the need is. The urgency of need is what defines the temperature of the referral from tepid to HOT!

 

While most professionals may tell you that they’ll accept a lead, I contend that they would greatly prefer a REFERRAL – from tepid to hot - over a COLD CALL any day.