1. B UILDING A S TRONG R EFERRAL N ETWORK Presented by Sam M. Allred, CPA Founder & Director of Upstream Academy

2. Building networks of individuals eager to pass on leads for new business has been an important part of the practice of accounting for many years. In today’s challenging business environment, the importance of developing such networks is greater than ever before.

3. Many senior partners have built impressive books of business over the years. In many cases, firms are at risk of losing both important books of business and the art of building a strong referral network as their senior partners retire.

4. Building strong networks of referral sources should be high on the priority list of every firm. For some, it may mean the difference between truly prospering and growing their firms, or maintaining the status quo.

5. K EY P RINCIPLES FOR B UILDING A S TRONG R EFERRAL N ETWORK 1.Be proactive and consistently reach out 2.Be sincere in your desire to help others 3.Be absolutely professional

6. K EY P RINCIPLES FOR B UILDING A S TRONG R EFERRAL N ETWORK 4. Have a written plan and be committed to it for the long term 5. Give value in every interaction with a potential referral source

7. 1. B E P ROACTIVE AND C ONSISTENTLY R EACH O UT Developing an active referral network doesn’t just happen. It requires carefully planned, focused effort. “It is not enough to stare up the steps—we must step up the stairs.” Vance Havner

8. 2. B E S INCERE IN Y OUR D ESIRE TO H ELP O THERS A sincere and active interest in the success of those from whom you hope to receive referrals is the foundation for a relation-ship that will produce the desired referrals. “Build your reputation by helping other people build theirs.” Anthony J. D’Angelo

9. 3. B E A BSOLUTELY P ROFESSIONAL There is no substitute for consistency and total professionalism in every interaction you have with a potential referral source. It’s unlikely that a referral source will recommend you to an associate with the statement, “Sam’s a consummate professional—most of the time.”

10. 4. H AVE A W RITTEN P LAN AND B E C OMMITTED TO I T FOR THE L ONG T ERM What is your best marketing message (who are you, what do you do best)? How will your message be communicated to referral sources? Who are your best referral sources and what are you willing to do for them? Your plan needs to answer the following questions:

11. How will you earn the trust and respect of your referral sources? What will you do with the leads you receive? How will those who provide leads be rewarded for their efforts? Building a referral network must be seen as a long- term investment. Results may not come immediately, but they will come.

12. 5. G IVE V ALUE IN E VERY I NTERACTION WITH A P OTENTIAL S OURCE Every interaction should be viewed as an opportunity to reinforce your message and give meaningful value. “Don’t wait until you’re being paid before you’re helpful. You’re a professional—prove it by being helpful from the beginning.” David Maister

13. T IPS FOR B UILDING A S TRONG R EFERRAL N ETWORK Find opportunities to send business to your referral sources Research contacts’ industries to become knowledgeable about their issues Write articles and send them to contacts Search for and send articles to contacts and include a personal note

14. T IPS FOR B UILDING A S TRONG R EFERRAL N ETWORK Invite contacts to executive briefings and don’t try to sell them anything Offer to be a sounding board Find opportunities to recognize the accomplishments of others Send out press releases telling about things you’re doing

15. T IPS FOR B UILDING A S TRONG R EFERRAL N ETWORK Give presentations on topics of interest to your contacts (or assist others in doing so) Before you attend special events, identify in writing what you want to accomplish there Find opportunities to thank people for things they’ve done

16. “We talk about the quality of product and service. What about the quality of our relationships and the quality of our communications and the quality of our promises to each other?” Max De Pree