A referral is simply a contact provided by a customer or a prospect, usually one who is presently not ready to take up your offer.
As a prospect, a referral can be ‘highly-qualified’ i.e. open to your offer and easy to convert into a customer or associate because the referrer believes s/he might be interested in your offer.
Referrals are a great source of new business, yet most associates don't actively seek them, It's a shame, because it is one of the most powerful forms of lead generation. In fact, some business owners will swear that they generate most new business through referral marketing. Obtaining referrals can be a simple process; once you have spoken to someone about your offer, simply ask, “Who (else) do you think might be interested in this opportunity?, OR ‘Do you know anyone who has a health/fianacial problem that might benefit from what I have to offer?’. Optionally, you can set up a system where you reward people for providing referrals.