Why You Should Track your Small Business Referrals

Recently there was a case study conducted at the HarvardBusinessSchool with the goal of answering the fundamental question: “How can small business professionals ensure their referral relationships are more reciprocal?” One of our key findings was that by tracking each and every referral you send/receive, your referral relationships will become mutually beneficial; resulting in an increase in business for both parties. The first and most important reason you should track your referrals also happens to be the most selfless. We've all had professional relationships that either breakdown or become dormant because either one or both parties feel the relationship is imbalanced. Relationship building is all too often approached with a hands-off attitude. This creates ambiguity which is natural in our personal relationships but it can be quite toxic to our professional relationships. If you generate a lot of your business via referrals (most small businesses do) then there i... [Read Full Article]