I believe that being in business is one of the most interesting character developing and personal growth exercises! It seems every day we have an opportunity to be tested and define our parameters, not just in terms of business practices and policy, but in who we are and how we behave in relation to clients, prospects, vendors and our community.
Yesterday I was approached by a new firm offering a leadership coaching program. The representative wanted to a) sell me on signing up, and b) secure my agreement to promote their program to my circle of professional contacts. She was very surprised when I told her that I never enter into commission or kickback agreements.
Why not? We all need cash flow to sustain our businesses and lifestyle, and wouldn’t it be nice to have an additional source of income just show up from time to time?
The stance we have taken in my firm is that if we know of a product, service or resource that would be valuable to colleagues, friends or business allies, we are happy to send it along to them with no thought of compensation.
And if we don’t see that kind of value, there isn’t enough money in the world to secure my referral on any terms.
What do you think? Is there another point of view that I am missing? Love to feature your comments and feedback in a future book or upcoming blog article.
Colette Acheson
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Colette, I agree with your assessment: 'if we don't see that kind of value' isn't not worth referring.
ReplyDeleteI beleive that, as professionals, members of our network rely on us to be their 'Google' in a sense... that is, to search, screen, evaluate, and refer only what we know our clients, friends, and colleagues will truly benefit from.
Where I disagree is when we do see that value - when we know that a product, resource, or service can truly help members of our network - why should we be ashamed of earning money for our efforts?
We accept payment from clients when we fulfill our formal contracts - why shouldn't we benefit when we serve the 'social contract?'
Of course, this only works when we are truly honest with ourselves about what IS valuable and how well we know our clients' and business allies' needs.
Like you said, 'if we don't see that kind of value' it isn't worth my referral.
Heather Petherick
In my opinion investing the money for a business can be good idea. Starting a business and investing the money in a business can also make more money for us.
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