Why a ‘Wait & See’ Sales Strategy is Risky

How much of your business has been built on referrals?

I’m all about referrals - it’s how I grew my own business - but if referrals are your main (or only!) sales strategy, you may have a problem brewing.

You see, if you’re entirely reliant on referrals, you’ve put yourself in a position of helplessness. When the time inevitably comes that you need new business, your sales strategy dictates that you simply “wait and see.”

In today’s new post, I’m explaining why it’s critical to get back in the driver’s seat by implementing a more proactive, multidimensional sales strategy.

Read on to brainstorm new ways you can generate new business and up level your income this year.

Are referrals turning you into a sitting duck?

Referrals are an amazing way to grow your business. I’ve worked with many business owners who have grown their businesses beyond 6-figures on mainly referrals alone. Referrals are also the way I rapidly took my own business from zero to 6-figures back when I was getting started in New York City.

Referrals are powerful because they make the sale much easier, especially when it comes to price. Someone your prospect already trusts connects them with the solution they’re already looking for (read: you!). This naturally leads to a quick, streamlined sales process.

So what’s the issue? The issues arise when your business is entirely reliant on referrals alone.

Let me share a story.

Back in the day, I was managing a high fashion boutique at an upscale mall. We sold one-of-a-kind, beautiful pieces. It quickly became apparent to me that we relied mainly on repeat business and referrals to make sales. Every morning I would open the shop, turn on the computer, and then I would sit there and wait.

I spent many of my days there waiting for someone to walk in the door, hoping they wanted to buy something we had in stock. Sometimes they did - our loyal customers would arrive and spend money. Other days, it was incredibly slow. I felt so helpless.

Waiting on sales isn’t a great strategy for any business.

When you’ve set yourself up to be reliant on referrals to make sales, you’ve (perhaps unintentionally) implemented a “wait and see” strategy in your business. And this is risky.

“Wait and see” strategies rely on someone thinking about you. Someone needs to be thinking about someone else who can use your service, and then that person needs to feel inspired to go the extra step to actually make the connection.

Does it happen? Yes. Is it great when it happens? Absolutely. Are there things you can do to make referrals happen more and more, by training your clients to provide you with referrals? There sure are. And I teach all of that. But here's the thing: referrals are and always will be a one way approach. And that’s not the way most business owners achieve high, multi 6-figure or 7-figure incomes.

It’s critical to create other avenues to money.

If you have been able to successfully get referrals, and those referrals have led to great business, and you're bringing in 6-figures or more, congrats - that’s awesome. But here's the deal: How you got here, is not how you're going to get there. A shift is required if you’re ready to take your business to the next level.

So how do you go about doing that? How do you bring in more business? Is this about hustling harder?

No. Achieving the next tier of success requires a new approach - you need a sales strategy to implement that goes beyond simply referrals. Every day, you need to be doing a mix of several things to create more business, rather than waiting on referrals to show up.

Back when I was managing the clothing boutique, I started collecting our customer’s phone numbers. This was before texting as a marketing tool was “a thing” and it felt fresh to our clients to be connected with a business in this new way. When something new came in that made me think of someone in particular, I’d text them to let them know it would look good on them and invited them in to try it on. This not only forged more meaningful relationships with our clients, but it also led to more sales that wouldn’t have happened had I just sat there and waited for them to show up on their own.

Now, put yourself in this situation. How can you draw more customers into you?

Can you reach out to your current clients for more repeat business in a way that feels authentic? How can you be of service in a way that they feel truly appreciative of? There are so many ways to do this!

You can also generate new business through previously untapped pipelines. Brainstorm ways you can attract new leads. Do you podcast? Can you pitch yourself as a guest on other people’s shows? Could you become an expert guest or speaker at industry events or masterminds?

Optimizing your opt-ins and email sequence can also be powerful tools. Also, let’s not forget networking! Putting yourself out there and meeting new people is an incredible way to grow your reach. While networking is a strategy that utilizes referrals, the difference is that it’s an active referral strategy - you’ve got to go out and get ‘em. With networking, you’re in the driver’s seat.

It’s time to get out of the passenger’s seat in your business.

As the founder of your business, you need to be in the driver's seat. Ask yourself, Am I actually driving sales or am I just waiting, wishing, and hoping that they'll come along for the ride?

Leave wishin’ and hopin’ and prayin’ to Dusty Springfield. That's not what business is all about. Business is about making sales happen. You’ve got to go out and drive them in!

Need driving lessons?

I freaking love helping my clients create sales strategies and hop into that driver’s seat. My strategy sessions are customized to each business and personalized to match the needs and preferences of each individual entrepreneur. I don’t force people into doing things they hate in the name of sales; we create a sales strategy based on all the things you thrive on in your business.

If you are in need of a new sales approach, I’m opening up my calendar and offering up two sales strategy sessions. If you want to take your business to the next level and go beyond your reliance on referrals (which is critical to your growth!), DM me over on Instagram before someone else snags them, and we can see if it’s a good fit for you.