Toowoomba Business Referrals
A key measure of Toowoomba Business Networkers‘ (TBN) success is the tallying of the dollar value of additional business generated each year for members.
For example, in previous years the group has seen amounts as high $344,000 of additional business generated for members through referrals. The 2023 target is to generate $250,000 of referral business.
Business referrals are recorded on a convenient referrals slip and exchanged during our weekly networking breakfast meetings each Tuesday. Referrals include the name of both the receiving and referring TBN member, together with the name, contact and product/service details to be followed up.
‘Internal’ & ‘External’ Business Referrals
In recording the referral value, TBN differentiates between ‘Internal’ and ‘External’ business referrals. An ‘Internal Business Referral’ is where one member of the group purchases the products or services of another member. Whereas an ‘External Business Referral’ is when one member passes as a referral the details of someone external to the membership.
From years’ of experience TBN members know that external business referrals are the ‘lifeblood’ of increasing the profile and profitability of local businesses.
By way of example, as a TBN member I may use the services of the group’s auto mechanic to service my vehicle. This is denoted an ‘Internal’ referral as I, a TBN member, am generating business for the mechanic in the group.
Whereas, if I pass a referral to the same mechanic for the service of my friend’s vehicle, the value of business generated is counted as an ‘External’ business referral - The value of the sale is sourced from outside the membership.
In either case, when a referral results in a business transaction, the value of the sale (or commission) is then written on the original referral slip with these amounts being tallied at a subsequent weekly meeting.
Experience Results-Focused Networking
TBN has vacancies in a limited number of business categories. Business owners and professionals are welcome to participate in two breakfast meetings at no cost. RSVP is essential.
Toowoomba Business Networkers - 2022 Executive Team
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