The Busy People Networking Philosophy

I was commenting on a conversation stream on Biznik about increasing networking effectiveness when I discovered I had documented the “Busy People” philosophy of networking. Here is our take on networking along with framework to focus your activities and get better results. Let us know what you think! We’d love to hear from you.

 

Networking takes time. Time is money. Those using networking to build new business can’t afford to misuse time. It costs in dollars and lost opportunities when done haphazardly. Hence, I promote planning.

 

Your networking is truly part of your marketing mix. With that in mind, network strategically to gain exposure, build your credibility, and do your own market research in addition to lead generation.

 

Great networking conversations are built around discovery. Not selling! If you get around a lot the conversations do become second nature. If you don’t, it pays to plan.After doing your homework (know who you are, what you do, how you can serve others) you can show up, ask good questions, and learn far more about another person in a very natural conversation than you would by talking about yourself.

 

Here are a couple of things I teach and practice to increase my payoff and leverage time when networking.

 

I choose events by the following criteria:

 

  1. Target market rich (potential business development)

  2. Target strategic partner rich (potential opportunities, cross marketing, and resources)

  3. Fun (we are whole people, not just our work)

  4. Contribution (attending events to give back to the community, people group, or individuals makes me feel good)

  5. Professional Development (I always want to be increasing my knowledge base)

 

Here is another quick list. Develop key questions to discern the following:

 

  • Is this a prospect? (not so I can sell them on the spot but I can know how best to follow up)

  • Is this a potential partner? (I am always looking for people who do exceptional work)

  • Is this a connection to opportunity, resources, or information? (We can learn alot from from other people’s experiences)

  • Is this a great person to know. (Sometimes the person you are speaking with is just “cool”. (I like to know cool people.)

I have to tell you, when I hear the phrase “elevator speech” I cringe. I think it is overrated in most business networking environments. You can have a killer elevator speech and bomb on the follow up conversation. Good questions overcome many a botched opening introduction. I know. It still happens to me.

 

Do you have a networking philosophy? If so, please share! 

How to Know if Your Networking is Working

 

I speak about networking several times a month and one question I can count on getting asked is “How do I know which networking events to attend or organizations to join?” This question is on people’s minds because it is all too easy to get caught up in the busy-ness of networking with only nominal benefit. A common misconception is that the purpose of all networking is to find clients and customers. While gaining new clients is vital, the truth is networking can and should have multiple purposes. If you are networking only for new business you are missing out on tremendous opportunities.A balanced strategic approach to new business development includes multiple forms of marketing, of which networking is only one tactic. You can increase your networking impact by selecting specific networking groups based on what you need to reach your business goals. Then define specific objectives for each group or event with which you can measure your return on your time investment.

 

I typically recommend that you choose ONE group for each of the five types of organizations described below. If you try to do more than that, you will spread yourself too thin, are less likely to follow through on follow-up and reduce the effectiveness of networking.

 

Sales & Business Development – Choose one group specifically for connecting with potential clients and sales development. Choosing which group to attend depends on your target market. If your clients are small to medium business owners in your geographic location, your local Chamber of Commerce is a likely candidate.

 

Another way to find a group for this objective is to focus on the industries your clients are in. Just about every industry has a professional organization with regular meetings. Read your local newspaper’s business calendar to get ideas.

 

Prior to making a commitment to join, I suggest you visit any organization 2-3 times. As you investigate each group ask yourself, is this group target market or target partner rich? Is the culture one that invites reciprocity and relationship?

Your key objective from your membership in this group is to build relationships of mutual benefit that lead to new business. With this focus you will be able to easily measure how much business you got from it. This may sound pretty obvious but it is curious to see how many people are networking ineffectively at this level.

 

  • Here is a quick basic formula to figure out your return:

  • Hours spent attending event = X multiplied by your hourly rate

  • Dollars spent in membership or fees = X

Add together to get your

  • Total investment in networking group = $$

How many leads and opportunities are you gaining to recoup these costs?

 

Don’t forget to include the meetings outside of the regular networking event to get acquainted with partners. That is a time investment that equates to dollars too. Don’t fool yourself on the value of your time. Make it an equitable exchange by working with all the facts.

 

Contribution – Choose one group for contribution. This might be a Lions or Rotary club, Habitat for Humanity, the Boys & Girls Club or other non-profit organization. When you attend this group your objective is to give back to the community or world. You DO NOT have your sales hat on in this type of group. The dynamic of building relationships with like minded people is that no only do you build life long friends but find those who become key resources and connections to opportunities.

 

Professional or Personal Development – Sales leaders pursue continuous improvement. Choose one group for professional or personal development. This might be an industry or trade group, Toastmasters, or leadership group. The objective of this type of group is to continue to hone your skills and add to your knowledge base. You DO NOT have your sales hat on in this type of group either. However as you meet and build relationships with people sharing your value of continuous improvement you have opportunity to meet potential strategic partners and referral sources.

Fun & Relaxation – Now choose one group for fun. This might be a hobby group, athletic group, spiritual group, etc. The objective for this type of group is for renewal, enjoyment and experience. You are a whole person. Every thing you do does not have to be about building business. Have some fun. It’s easy to get wrapped up in activity, worrying and focused on business outcomes and this type of group keeps you anchored to reality. Giving your self a break from business increases functionality everywhere else.

 

Professional Support Team – As you become more established in your business and have clearly defined growth goals for yourself, I suggest you add one more type of group; a Mastermind group. The principle of the Mastermind Alliance was first introduced by Napoleon Hill in the late 40’s when he published, Think and Grow Rich. A Mastermind group is a small group of trusted advisors who share the same goal. I’ve been involved personally in 3 types of mastermind alliances over the years. Their contributions have been invaluable to the growth of my company and I am humbled that all who participated felt the same way.

Now if you are in the first year or two of business development, I suggest you choose only 4 organizations to which you are committed to on a regular basis. Since your networking quality will depend on your ability to follow up, stay focused!

 

Strategic networking has multiple purposes. It is much easier to match your objectives with your goals and choose a group accordingly that you can test the outcome. For example, if the only thing you’re getting out of your business development networking is a sense of contribution, you know it’s time to start looking for another business development group!

 

In closing, ask yourself “Are the groups I am involved in meeting my objectives?” I challenge you to do a quick review of this past quarter activities. Are you getting a return on your time, money and energy investment? If not, it’s time to reassess where to invest your time.

 

Network strategically. Set clear objectives and measure your results. Doing so will make your investment in time and money pay off.

Fresh rules for networking! Need business? Connect up!

 

Most of the people I know are networking to generate new business. Some are operating under the belief that networking is a new form of cold calling and start selling too early in the conversation. You know what I mean. I don’t know about you, but every time I network, I run into someone trying to sell me something. I am usually not their prospect but they don’t ask enough questions to know! They assume everyone is their prospect. Not so! 

 

There is so much available in the information sphere that addresses the ‘how to’ of networking that it is surprising that so many still are challenged using it to produce consistent results! Check yourself? How do you define the activity?

 

Let’s start with redefining the activity of networking. Instead of simply connecting or building relationships, look at networking as a strategic marketing tactic. As a part of your overall marketing strategy, you would likely be much more specific about where you network, who you connect with, and how you follow up!

 

Here are a few quick rules for networking strategically…and making contacts that lead to business!

 

  1. Target events that are rich with those with your target market or potential strategic partners.
     

  2. Don’t start with selling. Ask good questions!
     

  3. See the big picture. The person you meet may not be in need of your services but could connect you to opportunities you wouldn’t otherwise find.
     

  4. Follow up. Do your homework and identify your A prospects & partners (or cool people you meet). When you meet those who fit that criteria or close to it. Take the next step and follow up. This is where the money is made!

 

Next time you network, try these new rules! What about you? Do you have any tips for networking strategically?

 

The Little Things Can Make a BIG Difference

I was speaking for a group this week and was asked for the best way to find (and choose) a networking group. And even more specifically for their particular industry, loan originators. While I gave some pointers about choosing different types of groups and the tips to determine the dynamics I realized I neglected to get right down to the “how to”.

 

 

I’ve been networking for at least 18 years and a lot has changed since the introduction of franchised leads groups to the practice of networking. Both good and bad. One thing I’ve discovered is many learn the practice of networking without really grasping the purpose. We published an article a few months ago, “The Evolution of Networking”, in which we address the typical phases individuals go through as they master the purpose and practices.

 

Check the article at our website.

 

How to find a networking group.

 

  1. Check your local papers and business publications for the business calendar.
     

  2. Ask others in your profession where they network.
     

  3. Google “networking, (your local area)” and see what comes up. In Portland Metropolitan area, check out the list we’ve assembled to serve you.
     

  4. Visit your local chamber, or visit www.bni.com, www.letip.com and check out local chapters.

Before visiting or joining a networking group. Go back to basics. These basics should be in your working marketing plan. Most of us are continually refining these definitions as we gain experience and master the sales process.

 

  1. Get clear. Think about what you really do for your customers. Not in titles or in vague descriptions. Get down to the pains, frustrations, and angst you relieve. Build a power word bank of those key words in the pain quadrant. Don’t forget to add words from the WOW! spectrum too. After working with you, what is it your clients feels? For example, peace of mind, increase cash flow, debt free, etc. Remember this is not to manipulate prospects but rather to better connect, build rapport, and discover fit and time frame for your services.
     

  2. Get focused. Who are ideal prospects for you? Get specific and target your ideal market. Don’t be afraid to go for those cream of the crop individuals or businesses. Vague answers, such as anyone who needs what you offer won’t serve you, your customers, or your future network.
     

  3. Get partners. Identify those who share your ideal target market. These might be businesses who complement yours or those who are related to those in your prospective customers. For example, if you are a lender, strategic partners might be escrow officers, title companies, real estate professionals, insurance agents, CPA, financial planners, etc. These are service providers who complement your service. To go beyond the obvious, you can peer into your prospects Rolodex. Look at personal services such as hairdressers, personal trainers, door to door dry cleaners, personal chefs, etc. The key is to connect with those who might be aware of prospects with a need you can fill, who really understand the value of reciprocity and the power of partnering to increase impact, exposure, and add value to their customers.
     

  4. Get connected. Determine where to show up to make the connection. Select events, organizations, or periodicals that connect you with those in your ideal target market or with partners.

 

As you venture out to attend with the prospect of making connections, ask yourself. Will this group connect me with those in my ideal target market or those who could be partners?

 

Your time and money are valuable. Visit any group twice before joining to see if the chemistry fits.

 

If you have some recommendations on finding a networking group, please add your comments!

 

The Evolution of Networking, Part II

 

You a Super Connector?

 

100% of my clients want networking to be easier. Me too. It seems to come so naturally for some and still others seem to navigate at a higher level. If you’ve attended more than a few networking events, you’ve probably crossed paths with them. These are the Super Connectors! A natural connector sees connections where others may not. They love putting people together, sharing ideas to help others build their business, gain knowledge or connecting them to resources. They share freely with out expecting to get anything back because their joy comes from the connecting process.

 

If you are a natural connector you are motivated to continuously improve the process. More connections equal more joy and fulfillment. If this sounds like you, you’re on your way to Enlightened Networking. You are a natural born Super Connector. My personal journey to becoming a Super Connector has included both natural ability and conscious evolution.

 

In every position I’ve ever held, I gravitated toward matching people with people and resources. When I ventured into sales and discovered networking as a business development vehicle, I began as a “Neanderthal” or more gently, a networking newbie. It was all about me and what I was getting. I didn’t see the correlation of tapping into my strength as a Connector and the exponential power of purposefully building a network of mutually beneficial relationships until I joined a leads group in the mid 90’s. While that worked well, I found myself continuing to invest a lot of energy in others to generate the leads I needed to meet my goals.

 

I had an AHA! moment the year I doubled my sales (kind of like discovering fire) and my paradigm shifted. When I looked back after that experience, I knew I would never work as hard as I did to tap into the abundance of opportunities that could be gained through being a Super Connector.

 

 

The Super Connector phenomenon comes about in two ways; either by intentional evolution or by a natural state of being. You probably know people like those we just described. Those who come by their connecting ability so naturally it appears effortless. This may not be you. No matter where you are in the evolutionary process of building a network of relationships that are mutually beneficial, you can move into the benefits of enlightened networking. You moved yourself this far through the process with a hit or miss approach. Now, moving through the evolutionary process to becoming a Super Connector may simply involve doing more of what you are already doing with purpose and focus.

 

Here is what I have learned about networking over the years:
 

1. Networking is NOT selling.

2. Not everyone is my customer.

3. Not everyone who could refer business to me will.

4. Not everyone I could refer business to will earn that business.

5. Networking is a strategic marketing tactic that increases visibility, credibility and opportunity.

6. Effective networking is about building mutually beneficial relationships.

7. Networking done on purpose can be the most powerful tool to set you apart from the competition in any marketplace.

8. Networking done with a plan taps into people, resources, and opportunities your competition may never discover and yields amazing results.

9. Relationships built through networking can last a lifetime.

10. You take your network with you no matter where you go.When I launched Connectworks I began to test all I knew about networking at a higher level. I would not be where I am if I’d followed the traditional, safe sales and marketing route.

 

Connectworks is moving into a national presence in the marketplace. We evolved from a coaching and training company into an executive consulting and strategic business development firm. We apply the principles we teach to every aspect of our own business planning and development. We coach clients to apply the principles we teach in the same way. Connectworks is now licensing other consultants and companies to offer the Networking for Busy People model to their clients and employees. We are well known in our local market and are now expanding our reach in the western region. We are on our way to fulfilling our vision of having the Busy People principles in practice in every state in the US. It is a big dream and the only way I could make it happen was to build a SUPER network of those who could derive mutual benefit from our shared growth.

 

My question for you is, “What dreams do you have for your business? If your business could be all you want it to be, what would it look like?” Now, start to think about how you can build and tap into your network to make that happen.

 

Ready to evolve? Let’s talk about the fundamental principles of the Super Connector. We’ve packaged them in the Power Principles for Busy People™:

 

  • Principle 1: Get Clear – Know your business. Busy People who get results know who they are and what they really do for their customers, employees, and community. They also know what they need whether it’s more customers, more partners, more visibility, more resources, or more feedback. And they know how to ask for it.
     

  • Principle 2: Get Focused – Know your target market. Busy People who get results have a clear picture of their bull’s eye target audience. Not only do they know where they live, work, and play they know what motivates them to make buying decisions.
     

  • Principle 3: Get Partners – Know who shares your target market. Busy People who get results know two things. One, they know who complements the services they provide. Two, they tap into their prospects rolodex to access a less obvious network of service providers and more. They connect with those other services providers through added value, opportunities, and resources.
     

  • Principle 4: Get Connected – Super Connectors know where their target market shows up and they put themselves in those places. Busy People who get results are connected. They are visible and credible in the arenas where their prospects and partners inhabit.

 

In order to evolve to the next level, you have to know where you’re starting point.Where are you in the evolutionary cycle?

 

The Neanderthal Networker or “Survival of the Fittest”Are you focused on your basic needs? That means SALES. If sales is your only focus you are missing a world of opportunities. Begin to take advantage of the opportunities around you by tapping into resources, partners, and events.

 

The Medieval Networker or “Man Discovers Tools”Are you using referral sources and organizations yet frustrated because you are giving more than you get in return? Apply the Power Principles above to gain clarity and focus. These tools equip you to craft the right message for the right markets, add the best partners and direct you where to connect for the highest, long-term returns!

 

The Enlightened Networker or “The Super Connector”Are you already well known within your business community and beyond? Have you positioned yourself as a value-added resource? Fantastic!

 

Regardless of where you are in the evolutionary cycle, ask yourself these questions to further define your problem areas and what you need to do to move forward:

 

  1. Am I working too hard to get the sales I need?

  2. Am I working with people who understand the value of reciprocity

  3. Am I asking for what I want and need? Opportunities, resources, and feedback?

  4. Am I getting what I need from the key players in my network? If not, is it them or is it me?

  5. What needs to change to improve results? Change in players, shift in my own communication, a more focused approach? Fine tune my systems?

Becoming a Super Connector doesn’t happen overnight. Creating the business of your dreams takes planning and focus. Be thoughtful, intelligent and strategic. It’s just smart! When you use your time wisely in the workplace, you have more for yourself and those important to you!

The Evolution of Networking, Part 1

Are you an Enlightened Networker?

 

100% of my clients want networking to be easier. Me too. It seems to come so naturally for some and still others seem to navigate at a higher level. If you’ve attended more than a few networking events, you’ve probably crossed paths with them.I’m talking about those people who seem to breeze into the room and the mood shifts. The energy in the room starts to buzz, ears perk up and next thing you know, people are lining up to talk to them.

 

They seem to know just about every body and those they don’t know, they quickly meet. Although they’re going from person to person in just a few minutes, when they’re talking to you, you feel like you’re the only two people in the room. They’re always gracious, have a helpful tidbit of information and are willing to put you in touch with just the right contact you’re trying to meet. I call them Enlightened Networkers. Don’t you want to be more like them? I know I do.

 

Here’s the deal. Enlightened Networkers don’t happen overnight. Getting to that level of networking skill is a process that can take years, if it happens at all. To speed up the cycle, you have to understand the evolutionary stages, find your own stage in the cycle and create an action plan to move yourself to the next level.

 

When I was first introduced to networking in the early 90’s, I thought networking was about image, schmoozing, and who you know. This was during the period of my first business venture. When one of my sales people invited me to a leads group, I was curious to see how it worked. It sounded good—other sales people out looking for leads for each other—but did it work? What I experienced at that time was everyone had their hand out looking for sales for themselves not really contributing to each other. This left me thinking that networking was a hit or miss sales tool and a waste of time. In retrospect, I wish I had only known then what I know now about value of purposeful networking. With that knowledge my first business might not have failed.

 

When I returned to the field of sales a few years later, I found myself introduced to a new form of leads group. With more structure, this organization held each person responsible for contributing leads to other group members. It seemed to work; but I noticed it worked better for some than for others. This got me wondering why and led me to observe the evolution of a networker. Here is what I discovered. When we are new to networking or motivated by sales quotas, many of us begin as

 

The Neanderthal Networker or “Survival of the Fittest” Our earliest adventures in networking are typically spent in survival mode. You know how early man was in basic survival mode, always on the hunt for food? When we are sales driven, we operate in the same mode. Our focus is on meeting our basic needs for food and shelter. For us, that means SALES. If you can identify with being a Neanderthal Networker, I hope this article challenges and inspires you to move into the next stages of growth.

 

The Medieval Networker or “Man Discovers Tools” The Medieval Networker has learned the importance of reciprocity and leverage. They build relationships with other networkers who share a common interest or market and work together to generate leads and new business for each other. They understand that networking isn’t just about sales but also about helping others. While reciprocity sounds good in theory, it works best when working with those who have similar values and are mindful of giving when they get. Many a networker exists at this level and gains consistent results. But here is what I know. There is SO much more to be gained and shared within these relationships. If this is your current networking reality, you might find yourself feeling frustrated because you are giving more than you get in return.

 

The Enlightened Networker or “The Super Connector” This distinctive group of people is emerging as the new Super Connectors. They are well known within their business community and beyond. This is the ease the rest of us long for. We see them navigate relationships, events, and opportunities with skill and grace. These leaders appear to have a special gift or secret.

 

Honestly, they intimidate us a little. When we can, we buy their books, attend their workshops, and download their free stuff hoping to glean some information which will give us the same edge.

 

What makes Enlightened Networkers different? They really do operate at a different level. We mentioned the fact they fully understand and utilize their partnerships, resources, and opportunities. It is more than just simple utilization; they are active participants in creating their reality. They aren’t willing to passively allow the fate of their business to rest the hands of those who may or may not be interested in contributing. They know what they need and are able to ask for it. They get involved in others’ business and personal growth. They are generous with both information and resources. They understand what they have is not unique to them. It is available to all. What differentiates them from others is that they have invested the time, energy, and perseverance to gain this level of mastery and abundance mindset. As result, they unlock exponential results from their network.

 

So how do you move your own evolution forward and become an Enlightened Networker? It starts by understanding where you are. Let’s do a quick self check to find your current state.

 

When networking, are you in sales mode? Does your networking focus begin and end with what’s in it for you? In generating leads for your business and closing the sale? I’m not saying it’s wrong to focus on finding clients and customers. After all, that’s why you’re networking in the first place!

 

Is your referral network not as forthcoming as you would like? Are you working harder than you’d like to get the results you want? Are you counting the cost, both in time and money, to continue working harder rather than smarter? If so, does it hurt a little? Let’s ease the pain and move together into the Enlightened Networker stage!

 

The shift happens when you do three things.

 

First, you re-frame your perspective. Take a look around and begin to tap into the wide variety of opportunities and resources available in your network. When you’re open to it, there are more than just sales to be made.

 

The second and just as important factor in becoming an Enlightened Networker, is to freely offer opportunities and resources to others. It’s about reciprocity. When you give other’s your time, expertise and connections, they remember it and want to give back.

 

Lastly, you network on purpose. You calculate your activities, partnerships, and opportunities by their return on investment. You build strong core relationships with a long term view. You do this for more than your bottom line. You do this so you can better serve others; your network, your customers, and yourself.

 

In closing, I know you can evolve yourself. I would not be where I am today if I hadn’t moved myself through the evolutionary stages of networking. If I can do it, you can too.Stay tuned! Our next post will address more on becoming a Super Connector.

 

Networking. It’s more than who you know; it’s how well you connect. Connect on purpose!