A Simple 10-Step Process To Get More Referrals From CPAs And Other Professionals

Referrals from professionals such as accountants, CPAs, financial planners, estate planning attorneys, etc., are some of the best sources of prospects and clients you can get for your consulting practice. The trick is how to convince those professionals to refer their clients to you in such a way that it makes it more beneficial for them to refer those clients to you than it is for you to receive those referrals.

The first thing you must do is put yourself in the shoes of the person you want referrals from and ask yourself why would they want to give you a referral? What is the benefit to them? It’s important for you to realize that when someone refers their clients to you… a client they have spent countless hours and dollars cultivating a relationship with… they are putting that relationship and any future business they may do with that client on the line. And in order to maintain that relationship, or better yet, enhance the relationship, your referrer must be absolutely convinced that you have something of value to offer them and the person they refer to you.

And that’s the key… value. Everyone wants value. And the more value you can bring to a relationship the better chance you have of getting referrals from your intended referral source and future business from those whom they refer to you.

If you can demonstrate real and actual value to your potential referrer and do it in such a way that they immediately and directly benefit from it, it can literally become a no-brainer for them to refer their associates to you. So how do you do it? How do you demonstrate that kind of value?

Here is a simple 10-step process you can use to position yourself as someone your sources will refer without hesitation:

1. Let them experience what you do. Put them through your process and do for them exactly what you are proposing that you do for their clients. Only do it on a smaller scale and don’t charge them for it. It’s called “Sampling”. And it’s the same thing Debbie Fields did when she started her Mrs. Fields Cookies business. She stood outside her store in the mall and handed out free samples of her cookies. If you took one and liked it you went into the store and bought a dozen or two to take with you. You can do the same thing. Give those you want to refer business to you a “taste” of what you can do for their clients. Let them experience the benefits in their own business and create a “WOW!” experience for them. Make it practically irresistible for them to not refer their clients to you so they can experience the same thing. Here’s an example of what you might do using CPAs as an example:
2. Compile a Competitive Intelligence Report for 4 or 5 CPA firms. “Mystery shop” their businesses by calling and/or visiting them to see what they do, how they do it and how you’re treated. Talk to a handful of people who have done business with this type of business – not necessarily your target, just these kinds of businesses. Find out from them what they like, what they dislike and what they would change if they owned that business. Compare their ads and marketing efforts and come up with a few ideas that if applied could make their business stand out from the others and give them a competitive advantage.
3. From what you’ve learned in gathering your information, select the ONE CPA that you feel is the most open-minded and who would be the most receptive to listening to your presentation.




4. Send them an attention-getting package in the mail that contains information about what you do and how it will benefit them to give you some time to make your presentation. Your package might include, a couple of articles you’ve written, a copy of a book you’ve written, perhaps an Audio Business Card, page of testimonial comments from others you’ve worked with, and a letter that introduces you. Give them step-by-step instructions on how to go through the materials you sent them and tell them to watch their mail for a “Special Invitation” that will be arriving in a couple of days.




5. Two days later send them an “Invitation on a Silver Platter” that invites them to a 30-minute “Strategy Session” with you to be held in their office, where you will demonstrate exactly and step-by-step how they can grow their business by XX% in XX days. Tell the CPA that you don’t want to bother them, and if they will let their secretary or assistant know what day and time is convenient for them, you will contact their assistant in two days time (say, Wednesday at 2:00 PM) to confirm. What you are doing is showing respect for the CPA’s time and acknowledging and extending respect and importance to their assistant.




6. At the same time you send the invitation to them, send a small box of cookies to the secretary or receptionist… the person responsible for scheduling their time. Included is a note that lets them know that a couple of days ago you sent their boss a package and that today you sent him or her an “Invitation on a Silver Platter” requesting a meeting. Let her know that the meeting is very important and you would like her assistance in scheduling a time for you to meet with the CPA, and that the cookies are your thanks in advance for her assistance. Now two things have happened. First, you have included the assistant and have not gone around her directly to the CPA. This shows that you respect her and have “recruited” her to be on your team. Second, you have invoked the Law of Reciprocity by giving her the cookies up front. Now she has an “obligation” to get her boss to give her the day and time for your meeting. This puts some gentle pressure on the CPA and helps ensure that your meeting is actually scheduled.




7. When the meeting actually does occur, bring the assistant another small gift – perhaps a gift certificate for dinner at a local restaurant – for helping you arrange the meeting.




8. During the meeting with the CPA, present your Competitive Intelligence Report and the first sheet of the Business Growth Calculator showing a hypothetical business and the significant growth that occurs to the business if you make some simple tweaks or improvements to a handful of key areas.




9. You then give the CPA a few things that he or she could put in place immediately to increase their business. You might consider things like a regular newsletter to keep in touch with their clients and to make special offers, a Referral Reward program, packaging certain of their services in order to increase the average transaction value, creating their own Audio Business Card, holding special Preferred Client Appreciation Seminars or Get-Togethers to reward or show special appreciation to their best clients.




10. Explain how by them referring their clients to you, and you making those clients more successful, their business can grow without them having to do anything except endorse or recommend you to their clients. Because they are trusted advisors to their clients, those clients are likely to act on their recommendation and at least give you audience for 20 to 30 minutes while you demonstrate to them why it is in their best interest to enlist you to work with them on their business. In effect, you do for them what you just did for the CPA. You demonstrate the real and immediate value you can bring to their business.

There are so many things that can be done to get a team of professionals on your side as referral sources. They’re fun, they’re productive, and they can be very profitable. Some things will work and some won’t. Some professionals will be receptive and some won’t. That’s business. The key is to take massive action and get the Law of Large Numbers working for you.