How Much Compensation For Referrals is Enough?

The amount of compensation you give people for referrals depends on several elements:

·       the value of the business (short and long-term)

·       the relationship you have with the person giving you the referral

·       the extent of that person’s involvement in the referral process

-         giving you a name only

-         calling or writing ahead to introduce you

-         setting up appointments participating in the selling process

·       your comfort giving away part of your compensation

Compensation, in whatever mode or amount, almost always comes back to you many-fold. The more you give, the more you’ll get back.

BY THE WAY, IN THREE YEARS I DID NEARLY $90,000 WITH THAT MEN’S CLOTHING STORE…and my colleague’s husband cashed that $1,000 check!