For those who started their own PI firm any advice on how to get or create referral networks? And how long did it take you to become profitable?

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I don’t own my own PI firm but know plenty who do. You create referral networks by networking with larger firms in your area and those handling other types of law. Larger firms will want to send you cases that don’t meet their criteria for a percentage of fee (keep in mind these often aren’t good cases). However, those clients will be the best advertisement for your firm. Firms practicing other types of law will refer people to you and will expect you to refer clients to them. As far as how long it takes to be profitable, that greatly depends on what your upfront expenses are. I would estimate at least 2 years unless you unexpectedly have a large windfall early on.

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F

Most of our cases so far have come from
Colleagues. It’s reminding everyone in your family and network that you do PI, so that way if something happens they’ll think to call you first.

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