Research suggests that 80% of all new business comes from business referrals. A survey conducted by TIP in August of 2006 of financial advisors earning over $200,000 annual indicated that every advisor believed referrals were the best source for securing new direct selling business. NOTE: The second method of telephoning current clients and non-client was rated at 70%.

Recently, I was asked during a presentation in front of over 50 small business owners if I could share everything that I know about performance improvement for small businesses to individuals, what would that one simple sentence be? I knew immediately how I would respond to that question.

As a sales professional, if you were posed that same question, how would you respond? Now, let’s compare our answers.

My response is three words: Ask, Ask, Ask. Did you have the same response?

Research suggests that 80% of all new business comes from business referrals. A survey conducted by TIP in August of 2006 of financial advisors earning over $200,000 annual indicated that every advisor believed referrals were the best source for securing new direct selling business. NOTE: The second method of telephoning current clients and non-client was rated at 70%.

How do you get referrals? By simply asking. Yes, we would all like to think that our customers would freely share our name with their business associates. Sometimes, this does happen, but more often than not, we, as the sales professionals, must simply and gently ask for the referrals.

Think of a recent business networking event. Were you so busy telling about yourself, your products or services, that the selling wasn’t happening? Did you think to ask suspects or prospects if they knew of anyone who could benefit from your products or services?

Speaking of business networking, do you ask the necessary questions to define a prospect so that you are not wasting your time with a suspect? Many in sales who have already determined a need for their product or service forget to further qualify potential prospects by asking if they are the decision-makers, if there is a budget and most importantly urgency.

For example when I am meeting a prospect to better understand what she or he does, I always ask:

1. How can I help them with their business?
2. Who is their target market?
3. Would this resource be of benefit (usually a website such as an article database or another site specific to their business)?

If the meeting is to earn the sale, I always ask: Where do we go from here?

Sales can grow when sales professionals remember to ask and to ask in such a way that the qualified prospect senses sincerity coming from the sales professional. Remember, by simply asking can quickly double your goal to increase sales.