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title: Build a Referral-Based Business description: [AFW M.1.17] Michael's Epiphany #17 published: true date: 2026-06-30T08:08:40.558Z tags: editor: markdown dateCreated: 2021-05-07T18:50:30.989Z

Why Referrals?


"When you gain most of your clients from referrals, you never have to work again."

  • Survey of professional Advisors shows that 88% of clients come from some form of referral.
  • Eventually, you want to build a “by referral-only” based business.
  • A referral-based business is a form of residual income.
  • Only 12% of amateur Advisors ask for referrals, but 86% of clients are receptive to being asked.


Watch 100% referral-based business VIDEO


Quick Tips for Getting Referrals

  • Do a good job and keep it simple.
  • Be available, and respond quickly to your clients' inquiries.
  • Email a monthly newsletter, not more not less,
  • Conduct one (not zero and not more than one) annual meeting, either face-to-face, via webinar or phone.
  • Send birthday wishes.
  • Bonus: refer people to your clients' business or clubs/charities - if appropriate.


Resources