Q1 Networking Audit: Are Your Referral Relationships Working?

You probably don’t call it “networking” - but you’re already doing it.

You refer clients to people you trust. You hope they refer back. You grab coffee with contacts occasionally. You stay in touch with people who send you business.

That’s networking - even if you don’t use the word.

The question is: is it working?

Most business owners can’t answer that question. They have a vague sense that they “should network more” or that their referral relationships “could be better.” But they have no data.

A quarterly audit changes that. Take 30 minutes to assess your referral network, and you’ll know exactly what’s working, what’s not, and what to do differently next quarter.

Why Quarterly Audits Matter

Referral relationships are invisible until you examine them.

You might think you know who your best referral sources are - but are you sure? You might think certain relationships are active - but when did you last actually connect?

Without an audit, you’re relying on memory and impression. With an audit, you have data.

Quarterly is the right cadence because:

• It’s long enough to see patterns
• It’s short enough to make course corrections
• It aligns with business planning cycles
• It’s not so frequent that it becomes a burden

“You can’t improve what you don’t measure. A quarterly audit turns your referral network from a feeling into a fact.”

The Five-Part Q1 Audit

Here’s your 30-minute networking audit. Go through each section with pen and paper (or a spreadsheet if you prefer).

Part 1: Inventory Your Active Relationships

Start by listing everyone you’ve meaningfully connected with in the last 90 days.

Not “everyone you know” - just the people you’ve actually interacted with. Had a conversation. Sent a referral. Exchanged messages. Met for coffee.

Write down:

• Who have you connected with in the last 90 days?
• Who was active before but has gone silent?
• Who do you want to reconnect with?

Don’t overthink this. Just get names on paper.

David Park

Insurance Agent

Park Insurance Group

Langley, BC

Fictional character for illustrative purposes

“The first time I did this inventory, I was shocked,” David admits. “I thought I had 30-40 active referral relationships. When I actually listed people I’d connected with in 90 days? Eight. Eight people. All those other relationships existed in my memory but not in reality. That audit changed how I think about maintaining connections.”

Part 2: Track the Numbers

Count what happened this quarter. Not what you hope happened - what actually happened.

If you don’t have exact numbers, estimate. But be honest.

These numbers become your baseline. Next quarter, you’ll compare and see if you’re improving.

Part 3: Identify Your MVPs

Look at your data and identify your most valuable players:

Top 3 people who sent you business this quarter:

Top 3 people you sent business to this quarter:

Now look at both lists. Are any names on both? Those are your power partners - people where referrals flow both directions.

If the lists are completely different, you might have an imbalance. You’re giving to some people and receiving from others. That’s not inherently bad, but it’s worth noticing.

“Your MVPs are revealed by the data, not by how much you like them. Some people you enjoy spending time with never send referrals. Some quiet connections are your best sources.”

Part 4: Spot the Gaps

Now look for what’s missing:

Industries you want but don’t have: Which types of professionals serve your ideal clients, but you don’t have strong relationships with any of them?

A real estate agent might realize they don’t know any estate planning attorneys. A contractor might realize they have no interior designer connections. These are gaps worth filling.

People you’ve helped who haven’t reciprocated: Look at your “referrals given” list. How many of those people have sent you business back? Which relationships feel one-sided?

Connections you’ve neglected: Who used to refer you but has stopped? Who should you reconnect with? Who has potential but you’ve let the relationship go cold?

Linda Morales

Mortgage Broker

Morales Mortgage Solutions

Richmond, BC

Fictional character for illustrative purposes

“My audit revealed a huge gap: I had no financial planner relationships,” Linda says. “My clients are buying homes and need comprehensive financial planning, but I couldn’t refer anyone. That one insight led me to build three strong relationships with planners over the next quarter. Now it’s one of my best referral categories.”

Part 5: Set Q2 Targets

Based on what you learned, set specific targets for next quarter:

New relationships to build: How many new referral relationships do you want to establish? Be specific: “2 new accountant relationships” is better than “network more.”

Frequency targets: How often will you maintain visibility with your network? Weekly videos? Monthly check-ins? Set a number you can actually achieve.

Referral targets: How many referrals do you want to give? (Yes, give - the best way to receive is to give first.)

Reconnection list: Who specifically will you reconnect with? Name names.

“Goals without specifics are wishes. Set numbered targets for Q2 and you’ll have something to measure against.”

Red Flags to Watch For

As you do your audit, watch for these warning signs:

All take, no give: If you’re receiving referrals but never giving them, you might be depleting your network’s goodwill.

All give, no receive: If you’re giving referrals but never receiving, your referral descriptions might be unclear, or you need different partners.

Concentration risk: If 80% of your referrals come from one or two people, you’re dependent on relationships you can’t control. Diversify.

Dormant relationships: If most of your “active” relationships are actually cold, you have a visibility problem, not a relationship problem.

No new connections: If you’re not adding any new relationships, your network is shrinking through natural attrition.

Tom Marino

Accountant/CPA

Marino & Associates

North Vancouver, BC

Fictional character for illustrative purposes

“My audit showed classic concentration risk,” Tom shares. “One lawyer was sending me 60% of my referrals. Great guy, love working with him. But if he retired or moved or just stopped thinking of me, I’d lose most of my referral pipeline overnight. That audit prompted me to intentionally build relationships with other attorneys. Now I have four lawyer relationships instead of one.”

Action Items Based on Findings

Here’s how to translate audit insights into action:

If you’re not giving enough: Commit to giving one referral per week. Look for opportunities actively. Build the giving habit.

If you’re not receiving enough: Have the “what would help you think of me?” conversation with your top givers. Clarify your ideal client description. Increase your visibility.

If relationships are dormant: Set up a weekly visibility rhythm - even 60-second videos keep you present. Dormant relationships come alive when you show up consistently.

If you have gaps: Identify specifically who you need to meet. Join groups or platforms where those professionals gather. Be intentional about filling the gaps.

If you have concentration risk: Make building new relationships a priority next quarter. Don’t wait until you need them to start building them.

The Mindset Shift

Most business owners approach networking as something they “should do more of.” It’s vague and guilt-inducing.

Quarterly audits shift your mindset. Networking becomes a measurable activity with clear inputs and outputs. You can see what’s working and what isn’t. You can set specific goals and track progress.

That clarity is liberating. You stop feeling guilty about “not networking enough” and start asking “are my networking activities producing results?”

“The audit transforms networking from a vague obligation into a measurable business activity. That makes it manageable.”

Your Q2 Plan

Based on your audit, you should now have:

1. A list of your active relationships
2. Data on your Q1 referral activity
3. Your top referral sources and recipients
4. Gaps you need to fill
5. Specific targets for Q2

Tomorrow, we’ll go deeper on building a comprehensive Q2 networking plan. Today, complete the audit. Get the data. Know where you stand.

Sarah Martinez

Marketing Consultant

Martinez Marketing Group

Vancouver, BC

Fictional character for illustrative purposes

“I resisted audits for years because they felt corporate. I’m a solo consultant - do I really need to analyze my network?” Sarah laughs. “But once I did my first quarterly audit, I was hooked. It took 30 minutes and showed me exactly which relationships were producing results and which were just friendly noise. Now it’s a non-negotiable end-of-quarter ritual.”

Measure What Matters

Rhythm of Business builds tracking into the platform. You can see who’s engaging with your content, which connections are active, and how your visibility translates into relationships.

The quarterly audit becomes easier when the data is already collected. You’re not reconstructing from memory - you’re reviewing what the system tracked for you.

Related Reading

• How to Track Referrals Without Expensive CRM Software - Simple tracking systems that support your audit
• What Is a Power Partner? (And How to Find Yours) - Identifying your MVP referral sources
• Your Quarterly Networking Plan: Map Out Q2 - Build on your audit with a concrete plan