My Golden Referral List of 300

What is my Golden Referral List of 300?
My plan is to develop a List of 300 potential prospects that will refer my company to people they know. It is the cheapest form of advertising or rather marketing.  This list will consist of Tile stores, Tile contractors, Realtors, General Contractors, Property Managers, Plumbers, Bathtub refinishing companies, Maid services, etc.  I am figuring on the 80/20 Rule where 80% of my referrals will come from 20% of this list. So 60 of the 300 people on this list will give me 80% of the referrals coming in.

Why 300?  Because it is a reasonable number that I can mail to weekly or monthly without breaking the bank. And based on the 80/20 rules, it will give me a solid 60 people that will constantly refer me and that 60 people is a great manageable number that I can develop a good relationship with.  It is a numbers game.  I hope that each of the top 60 will refer me to on average 2 new customers each month . That is 120 new jobs each month. At an average job price of $600 (hopefully more), I can do $72,000.00 per month or $864,000.00 per year just from 60 people. Is it that difficult to find solid 60 people/companies to give you a measly 2 jobs a month? I hope not, but we will soon find out. Oh, and that does not even include the other 240 people on the list that can bring in a few extra jobs each during the year.

As people fall off this list of 300, I will replace them with new prospects. If I get back 50 mailers that are undeliverable or telling me they do not refer anyone out for one reason or another, then I will replace them to keep the list at 300.  You can set this number to what you want, depending on what you can afford or how slow or quickly you want to grow or how much work you need. For me, for now, it is 300. This may increase or decrease in the future, but my plan is 300.
I will be targeting them 2x per month for the next 6 months, then slow it down to monthly after that. I will be sending them out flyers, brochures, sales letters, emails as well as cold calling them, meeting with them, etc.  Once I weed out the best of the best (the top 60) I will focus more money towards them while still keeping in touch with the others and swapping out the duds for new prospects.
This Golden Referral List of 300 and the goal of developing a strong list and sustain a constant influx of referrals from them will not be quick and easy. I am estimating it takes one year to cultivate it to where I want it to be so it will be my main focus this year. Hopefully it will allow me to not have to advertise much, if at all in the future.

Wish me luck!

Cary Cassidy