One thing that took me a particularly long time to figure out about networking is the best referral sources. Often times we identify an individual who is in a perfect position to provide us with an endless stream of highly qualified referrals. As a good networker I'd identify this person, work really hard to add a lot of value for them, and ask for those referrals. Too many times those referrals would never come, and I'd still spend a ton of time trying to make the relationship work (sometimes years). For whatever reason, some people are just not going to refer you. Some are just not comfortable giving any type of referral, it's just not how they operate. Others have other resources they're exceptionally loyal to, or even related to, who you'll never be able to replace. Whatever the reason it's ok, and there's nothing wrong with your strategic referral source.

What matters is your ability to identify your best, proven referral sources.

An exercise I try to conduct fairly regularly is to go back and source all of my opportunities to a specific individual. It's important to focus on opportunities, not closed business. I will typically look at a period of time, say six months. As a name comes up I write it down. Each time that person comes up again I'll put a check mark next to their name.

The most important point here is this: Someone who refers you once is probably 10 times more likely than any other person in your network to refer you again. Anyone who refers you multiple times is probably 10 times again more likely to refer you yet again then even your other single referrers.

It quickly becomes abundantly obvious which relationships you should put the most focus and attention on. Here's the kicker. Most of the time your multiple referrers are a surprise. They're almost never the people you thought were going to be good consistent sources of opportunities.

It's important not to keep score and expect that people you create opportunities for will return the favor. However, I do think it's important to keep track of the opportunities you receive and work really hard to return those favors. You won't always be able to fully pay them back, but it's a lot of fun to try.

In my next post I'll write about Tracking Referrals, and discuss my thoughts on what you should and shouldn't track.

Happy Networking!

Scott Ingram
NetworkInAustin.com