In early September, advisor coach Michael Goldberg wrote a reminder of referral basics for Horsesmouth, the leading U.S. practice management site for financial advisors.

This article is reprinted below – if more referrals is a priority, I suggest you pick one of the ten tips and decide to focus on it in the next 30 days.
To get more information on Michael’s work, go to http://www.buildingblocksconsulting.com/

You want more referrals? Here's how.

Do all the right things. Do them all the right way. Go to all the right places. Get involved with all the right people.
And here's the clincher: do it all at the right time. Pretty simple stuff, I know.

Here's where it gets confusing. All that's right for you may not be all that's right for me. Isn't that right?
Despite any and all of this, there are common (or not so common) traits that certain individuals possess that give us confidence. Not so much confidence in ourselves, but in them. These are traits I think we can all agree on; they're the kind of things that make us happy to refer these people business.

Who do you know that most people like—a lot? Who do you know that returns your calls and e-mails promptly, does what he says he's going to do, and does it by when he says he's going to do it?
Who do you know that impresses the people you introduce to her, stands by her work, and has super-high standards?

Who do you know that absolutely loves what she does, so much so that it shows every day? Who can you rely upon for pretty much anything?

Would you have any problem referring these folks business? Would you have any problem introducing them to others in your network? Of course not! And that's the point.
Now here's an uncomfortable question: how many people feel that way about you?

If you want to be more referable, it means you need to establish (or reestablish) your reputation as being reliable and someone that will make others look good.
Remember, when you make your referral sources look good, you look good—and potentially get more referrals. When you make your referral sources look bad—well, not so much.

Here are 10 best practices to establish and develop healthy networking and referral relationships for the long haul.

1.    Ask for what you want.
And be specific, while you're at it.
In essence, be clear with potential referral partners who ask about the type of business you're looking for.
We can't be everything to everyone, so figure out whom you serve best and whom you would like to serve most.

2.    Follow up on all referrals.
A while back, I referred a friend who was job hunting to a client with whom I have a great relationship.
The client was happy to take her call. Since they have similar backgrounds and know many of the same people, I thought it was a match made in heaven and was thrilled to make the connection for them.
But the job searcher never made the call—she said she was too busy with other stuff. I wasn't thrilled anymore.
Always be quick to follow up when others offer the gift of a referral. If you don't, you will lose credibility—fast.

3.    Keep referral sources in the loop.
Communicate, communicate, communicate.
Inform those nice enough to refer you how the connection worked out. Did you speak with the referred party? Did it result in business? Was it a good referral? Why or why not?

4.    Spend more time in all the right places.
 Where do people who are in the best position to refer you business hang out?
Is there a professional association for your referral sources?
For example, if you're looking to work with retirees or pre-retirees, you could attend local AARP groups and offer educational seminars.

5.    Say thank you. And mean it!
How? Send flowers, a bottle of wine, a basket, something thoughtful for the office, or just a handwritten card.
Why bother?  It's the right thing to do, and most people just don't bother. It's a thoughtful touch to find out what they like and consider that before making your purchase.

6.    Be great at what you do.
In fact, be the best! This one should be a given, but it isn’t. It's pretty cool to get referrals simply for being the best.
Of course, it's a great use of time doing what you need to do to become the best.
Word to the wise: spend as much time as possible showing (not telling) those that can refer you business that you are the best in the business. And you will get more business.

7.    Have a strong sense of ethics.
At the end of the day, you have to look at yourself in the mirror. Besides, news travels fast about those on the take.
I can't tell you how many folks I know that have been booted from business groups and lost tons of opportunities simply because they didn't behave. So behave!

8.    Give awesome referrals without expecting something in return.
Especially to those who you like, love, and trust. Especially to those that appreciate it. And by awesome referrals, I mean an actual introduction to someone looking to do business.
There's almost nothing better.

9.    Stay in touch with those that refer you often.
Out of sight is out of mind—believe it!
Stay in touch with people because you like them (sometimes they like you too).
Stay in touch because you're genuinely interested in their success and want to help them (if you're lucky, it will go both ways).
Stay in touch because it's one of the best ways to strengthen your expanding network of contacts. And it's fun!

10.    Make sure it goes both ways.
Ever find yourself giving tons of favors (referrals, advice, time) to someone without getting any of it back?
Not that everything should be quid pro quo or that you should expect a return, but over time it's nice. And when the relationship is one-sided, it's not much of a relationship.
So, what to do?
Be direct and honest. Discuss it openly but without accusation or confrontation.
Ask for help in looking to meet whomever it is you're looking to meet.
You may need to be more specific about the work you do and who you help. Remember, it may not be known to the other person.
Also consider that a particular profession, network, and experience may prevent someone from directly referring business your way. You have to weigh out all the factors, because this can be a delicate situation.

I wish I could say all advisors know these 10 precepts—because most of this stuff is just common sense!
But they don't. Even fewer of them practice these ideas.
But the best ones always do – and get more referrals as a result.