Talk to 24 People—Get One Referral pt.2

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

I don't know where the universe or the volcanic activity that regulates this is, but when I have 12, I get no leads. When I have 36 or 48, leads, the quality of them goes down. Somewhere in that bubble of 24, and here's what I think, I think it's because I stay in touch with them, their frequent dinner or networking people, I see them on a regular basis, we tend to talk a lot, we tend to have deep conversations, something pops.

So if you don't have 24 referrers, set that as a goal. If you could look and say, all right, so how many accountants, how many attorneys, how many realtors, how many business brokers, how many private equity funds?

Like and follow this podcast so you can learn more. My name is Carl Gould, and this has been your #70secondCEO.

Talk to 24 People—Get One Referral

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

What can we bring in? What are other activities? So if you look at the second one right there, one of the things that I like to have is I like to have I found over the years, I don't know what the magic science is behind it.

I don't know how the planets rotate to make this work. After 35 years as an advisor and 40 years as an entrepreneur total, what I found is if I maintain a good stable of 24 people that will refer me once per year, that helps my deal flow stay pretty active. That means once a year, these 24 people are going to say, Hey Carl, you should meet so-and-so.

Hey Carl, here's an investor. Hey Carl, here's a landlord. Hey Carl, here's a realtor.

Hey Carl. You see what I mean? That gets me to a month, and I found that that's pretty consistent.

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Bottom of the Funnel

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Things that I've noticed is bottom of that funnel results tend to match the top of the funnel activities.

In other words, if you're 10% ahead of your goal and you look to your top of the funnel activities, you might say, Oh yeah, you know what, I do. I've got, I've been to 10% more networking events than I normally do. I've had 10% more one-on-ones.

I've had 10% more, I went to that extra trade show I don't normally go to, or I stayed for that extra day. If you're behind, that tends to be the case too. We've seen a correlation between bottom of the funnel and, top of the funnel.

In other words, if you're looking at your year and saying, I'm 20% behind, and you say, all right, let me, how many leads did I generate? Boom, not as many as I thought. How many phone calls did I make? A little bit less than normal. How many days of networking did I do? Ooh, that's right, I skipped that whole week on vacation.

I didn't go to those three events. And we tend to find that you're, oh, I didn't make that many outbound calls, or I didn't do that many emails, or I didn't send as many check-in text messages with my existing client base as I normally do. They tend to correlate.

I'm down 10% on the bottom of the funnel. I tend to be down 10% top of the funnel.

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.