My Favorite MATH with Client Referrals

Math Consulting

Let’s explore the power of consulting referrals done properly and the impact they can have on your consulting practice.

If you’ve been in the business for any number of years or have some degree of networking prowess you can easily find 60 contacts that you can reach out to for referrals.

What’s clear however, is that if you make a deliberate effort to get referrals and go about doing so in an effective way, your consulting business will see exponential growth.

For simplicity, we’ll say that this number includes both past and present clients as well as your contacts, colleagues, friends, and other professionals you know.

On average, if we assume that each will provide you with 2 referrals (that’s low) over the course of a year that’s 120 referrals.

With an average effort at selling your services you land 15% of those referrals as clients.

That means you’ll have got an extra 18 clients in a year.

Let’s talk some more averages…

If your average client consulting project is valued at $20,000…your consulting income will have increased $360,000.

Now of course my numbers are just numbers. You can insert your own into this equation and get a better sense of how much you can increase your own revenues by.

What’s clear however, is that if you make a deliberate effort to get referrals and go about doing so in an effective way, your consulting business will see exponential growth.

And that’s my kind of math 🙂