Mastering the Art of Oversubscription Through Referrals

You might think it's odd coming from a referral expert like me, but here's the truth: you need to be oversubscribed by referral. I've been diving into Daniel Priestley's book Oversubscribe lately, and it's got me fired up about marketing your business in a whole new way.

Active Referral Mindset

First things first, ditch that passive referral mindset. It's time to get active, folks. Control the top of your sales funnel — I'm talking about those potential clients who are interested in what you're offering. Your goal? Have more prospects than you can handle in a year. That's right, aim high!

The Oversubscription Magic

Here's where it gets good. When you're oversubscribed, you can charge what you're worth. Whether you're selling copiers or high-end financial plans, price yourself excellently. Become the obvious choice, as Jonathan Goodman from the fitness world would say. Imagine having so many interested clients that you've got a waiting list. Challenging? Sure. Worth it? Absolutely.

Your Oversubscription Game Plan

1. Think Like a Farmer: You need enough 'land' to grow more than you need. Just like in regenerative agriculture, you're not using all your resources at once. Don't lean on everyone in your network all the time.

2. Build a Diverse Network: If you're in copiers, connect with commercial realtors, insurance folks, tech gurus, office furniture suppliers — you name it. These connections are low-maintenance but can be a goldmine of referrals.

3. Crunch Your Numbers:

   • How many clients do you need next year?

   • How many meetings guarantee success?

   • Double your meeting target based on your close rate. If you need 50 new clients and close 50%, aim for 200 prospects.

4. Engage Your Inner Circle: Pick your top 10 clients, business contacts, and personal connections who are ready to help. Don't wait to have it all figured out — share your vision early and let them shape it with you.

Let's Make It Happen

It's time to be oversubscribed, focused, and unstoppable. Share your vision with your trusted circle sooner rather than later. Aim for that sweet spot where you've got more clients than you can handle, all while helping everyone along the way. Let's turn those referrals into your secret weapon for oversubscription success!

I know that successful sales professionals and business owners face unique challenges as their career matures. My goal is to help people like you manage the transition from producer to successful business leader while enjoying life now. To learn more about how we do that, subscribe to Can I Borrow Your Car on Substack.

You can also:

💡 Connect with Mike on LinkedIn

🔗 Visit Can I Borrow Your Car website

🔗 Explore Strategic Referral Team website

📕 Purchase your copy of Can I Borrow Your Car?

🎙 Subscribe to the Why Should I Refer You? Podcast