For years research has shown that the vast majority of Ideal Clients select their Trusted Advisors by referral from other clients who are happy.  A far distant second are those Ideal Clients who select their Trusted Advisor through a referral from professionals, such as accountants or attorneys.  Your "Client Acquisition Activity" high-payoff time is best invested on the phone or face-to-face- with your current Ideal Clients for the purpose of being introduced to others who meet your Ideal Client Profile, rather than spending time cultivating relationships with accountants, attorneys, etc. Without wasting space here expounding on the obvious, let's just agree that the research backs up the notion that the vast majority of your future Ideal Clients will find you through a referral from another individual, whom they respect, and who is currently working with you. 

As such, your Potential Ideal Clients will often want to speak with a few of your existing Ideal Clients seeking their endorsement of you and the value you provide; a reference list.  So here's the question, what's the state of your current "Ideal Client Reference List?"

Let's back up and think about  when this list of Ideal Client references is most likely to be requested.  The "stronger" the referral, the less important speaking to Ideal Client references becomes.  In other words, let's say, for example, a small business owner is told by a much larger business owner friend & long-time mentor, "you should call my Trusted Advisor and see begin working together." In such a case it would not be surprising for that small business owner to feel a list of additional references is unnecessary given the fact that a person they respect tremendously, who has a "larger" and more complicated financial situation, is insisting that their own advisor should be hired.  However, let's say that same small business owner is is recommended to you, as Trusted Advisor, by a neighbor they met recently at a "backyard Bar-B-Q."  None of us would be shocked if this Potential Ideal Client, after having an initial meeting with you, might ask to speak with a few of your clients.

Before inviting an Ideal Client onto your list of references, be certain what they will say.  The following exercise will help your overall referral process and may, itself, increase the number of your referrals you receive.  During the next client progress meeting with every Ideal Client, ask each "What value do you feel this relationship is adding to your life, both personally and professionally?"  For some clients, the words will come easy and for others you may have to re-state, clarify or otherwise help them articulate what they are feeling in response to that question.  For those clients who can articulate your value and who seem enthusiastic about their relationship with you, invite them onto your list of Ideal Client references and encourage them to restate what they just described for you.  You should document the value they articulate and also ask, "May I quote you on that?"

So, let's talk about the list itself.  Consider offering no more than three names to Potential Ideal Clients at a time, but be prepared to provide more if you have them, so that your Potential Ideal Client has several to choose from, but isn't overwhelmed by the number of folks to call.  Limit the list to Ideal Clients, if you have them, and only add Non-Ideal Clients if you have no other alternative.  Always ask permission before adding an Ideal Client to your list of references and rotate the list so that you're not over-burdening the same Ideal Clients with these calls from Potential Ideal Clients.  Have the reference list of three Ideal Clients "in the file" the very first time you meet with any Potential Ideal Client; your preparedness will impress and will also showcase your confidence.  

Call your existing Ideal Client every time their name is provided as a reference.  Remind them that they agreed to be on the list and that you just gave their name out.  Let them know the name of the person who may be calling and provide a very brief background.  Share nothing confidential, but rather describe how you feel your client can help this person come to a decision, one way or the other.  Assuming it's true, make it clear why you feel this Potential Ideal Client would be a good-fit and a nice addition to the Ideal Client Community but that you are not asking for a sales pitch from your Ideal Clients; rather you are wanting your Ideal Clients to accurately describe the value of the relationship so that this Potential Ideal Client can make the best decision.  Finally, review with your Ideal Client how they might describe the value they are experiencing from the relationship with you.  If necessary, review your past notes and remind them of what they've articulated before regarding the value they feel they are receiving from you and your team.

Remember that to receive more referrals you need to become more referable. By having an organized and systematic process for establishing and maintaining your list of Ideal Client references you will improve your referral efforts and become even more referable than you are right now.