In today’s lesson, I want to talk about a way to add an extra income stream to your business with minimum extra work.
Here’s how it works…
Let’s say, you are cleaning carpets for a client and they express an interest in having their blinds cleaned. You give her a quote… and when she accepts you contact someone who cleans blinds.
You then “sub” the project out to them, but pay them a little less than you quoted. When the client pays you, you pay the ‘subcontractor and keep the difference.
Another option is simply refer your client to another company.Then take a small referral fee.Either way, partnerships like this are great because they allow you to offer a wider variety of services to clients including:
- Carpet cleaning
- Blind cleaning
- Duct cleaning
- Maid services
And more…
But of course, there are some caveats…
First, you need to finda good company that provides the services your clients want. This company should have a similar work ethic, client service and quality of work. You want them to treat your clients like you would treat your clients.
Second, if you choose to collect a “referral fee” you’ll need to stay on top of what you are owed. An easy way to do that is to set up a spreadsheet with all the clients you referred. Then the other company adds details about jobs, payments and fees into it.
TODAY’S TASK:Finding Good Referral Partners
- Choose the type of service you want to offer. Then look on Google or the Yellow Pages for businesses that offer that service.
- Check for public feedback.Look on Facebook, or review sites to see if the company has positive reviews.
- Contact a business you like the look of and ask for a meeting. Explain your idea to them. If they are interested, make a deal that you will refer some clients to them.
- Follow up with a client after the referral job is complete.Ask the client if the service was up to scratch. If it wasn’t, offer the client a free room clean as a way to apologise.
If it was, then you have just created an extra income stream for your business.