Our official referral policy is to give a 10% spec fee to anyone who provides us with a qualified lead. This spec fee is paid to the person who gives us the lead after we get paid in full by the client. The 10% is paid on the first $100,000 on the first engagement only.
Our definition of a qualified lead is someone who has one or more of the following features:
a. Identified that they might be interested in doing business with us on a specific project
b. Has the authority and budget to retain our services
c. Has requested (explicitly or not) our assistance
In essence, a “qualified lead” is when someone’s done pre-sale work for us – helping to convince someone that we are the right firm for a specific job.
If you’ve never tried to land a qualified lead for someone, we have a handy guide that we developed for our friends and colleagues to help get you started. [LINK]
“The five essential entrepreneurial skills for success: Concentration, Discrimination, Organization, Innovation and Communication.”
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