29 Mar '12, 10am

How the Power of Referrals Can Build Your Business

How the Power of Referrals Can Build Your Business

Do you use referrals to build your business? If not, you’re missing out. A new study by small business community Manta.com found referrals are the number-one way small business owners find and form beneficial relationships that grow their businesses. The survey of over 1,000 entrepreneurs asked how they find connections and grow their referral network—and the answers might surprise you. Just 1 percent of respondents got their biggest business boost from connections on LinkedIn, and only 4 percent from Facebook. Even networking events yielded profitable connections for just 11 percent of respondents. More effective? Relationships with family and friends led to profitable connections for 17 percent of the entrepreneurs surveyed. In fact, when it comes to looking for partners or vendors to do business with, 56 percent of small business owners said they make connections by ask...

Full article: http://www.networksolutions.com/smallbusiness/2012/03/how...

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