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Life Business and Money - Do Finder's Fees Work?

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Steven Kay

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By Dr. Ivan Misner and Bertrand McHenry
 
You can greatly enhance your word-of-mouth based business by designing creative incentives for people to give you referrals.  Yet of all the key techniques for making the system work, this one seems to frustrate people the most.
 
Historically, finder’s fees or referral fees have been used as an incentive for giving someone referrals.  Although finder’s fees can be appropriate, I don’t believe they are necessarily the best technique to employ in most situations.  Here is an excellent example of a non-monetary incentive system:
 
 

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