Networking: Giving, Taking, and the Fine Balance of Both

Networking requires giving and taking to be mutually beneficial. It's common to see people who are more comfortable with either one aspect or the other, but good skills in both arenas are imperative for success.
"Giving" comes first or at least should. In building relationships, it's easier to break down barriers to trust, respect, and reciprocity by being the first one to extend help to a potential networking partner. "Giving" includes, but is not limited to:

1. The sharing of industry information that is helpful to the potential partner.
2. The sharing of resources and suppliers helpful to the partner.
3. The sharing of new technology with these partners.
4. The sharing of information about the potential partner's competitors.
5. After a level of comfort has been established based on your own business ethics and standards, the sharing of business leads.

At some point in time, you can reasonably expect some of the same type of help in return. You are entitled to get help, or the relationship isn't mutually-beneficial Many people find it uncomfortable to take the following steps when there is no information coming back to them after they have given more than their fair share.

What do you do when you aren't getting anything in return?

1. Make sure that you have made your needs clearly known. Is your 60-second introduction presentation precise enough? Have you asked for specific information that the potential partner would be likely to have access to and gotten no response?

2. Ask the potential partner WHY there has been nothing coming back from their side. This can be tough but doesn't have to be. I teach people to ask the following:
If there were something about my firm or me that would prevent you from feeling comfortable sharing information with me, would you tell me about it, or would you keep it to yourself?

This approach works MAGIC!

3. After exhausting the above options, it's time to walk away. Don't be discouraged. Start the process again and again and again. There are far more people looking to share than just to "take".For the very few people who are ONLY "takers", you can do nothing more than you have. The reality of it is- you are entitled to give and get. And any relationships that don't encompass both aspects, will never be mutually beneficial.

Networking Effectively Part 4: Connect, respect, and refer

To start with, let's look at some connection types:

Casual:
Casual networking can happen anywhere, any time, and for any reason. It is the sort of thing that is spontaneous, usually based on recommendations from friends, and is normally just a matter of being in the right place at the right time.

These types of referrals are based on personal feelings more than anything else. They are better than trying to run down new sales, but they are not normally the highest quality referrals. That will depend on the person you're dealing with, but overall, people think they're doing you a favor by simply sending you work. They forget to think about the payment end of things. Or just what a nuisance their brother-in-law can really be. These tend to be haphazard things that many people consider an extra, rather than a regular part of doing business. That's a mistake. If you can get to the point where you are selective about which jobs you accept this can be a lucrative source of extra business for you.

Directed/Personal:
Still on the seemingly casual side, this is a more deliberateform of networking. It involves being aware of the opportunities involved in making sure people know what you do and have the kind of thinking that will encourage them to send you business.The person who uses this type of networking is usually known for their contacts, but not in an overt way. They'll often be the ones you hear people talk about when they say "I don't know. Ask Chris. Chris usually knows who to go to..."

This is the person who has made the decision to take the first step and make the referrals to good businesses. They have learned to listen well and identify those businesses. And they treat others with respect and genuine concern for their well being.

Planned/ Personal:
This is the most profitable aspect of personal networking. It is also surprisingly easy to do. The idea here is to make sure that you have a conscious and active plan to make new contacts each week.Do things that get you out and around new groups of people. Make yourself accessible to them. And remember the basics. Keep in mind that your circle of acquaintances is not necessarily limited to the people you know now.

That last is an obvious statement, but it's one that people forget. If you make a real effort to be helpful or pleasant to people you don't know, they will likely return the favor, and will certainly be more receptive to getting to know you better. You know that already, but do you use that idea to widen your circle of contacts deliberately ?

What kinds of activities are the best for this ? Anything that will put you in a setting where you get a chance to talk with new people.

Some suggestions :

•Attending trade shows
•Taking adult education classes
•Frequenting new businesses
•Attending parties
•Attending charity functions
•Joining a gym/health club
•Joining community organizations
•Rotary/Kiwanis/Lions Clubs
•Going to different restaurants
•Chamber of Commerce meetings

While at these places, keep in mind that you have a purpose of your own in addition to participation in the groups activities. Meeting people who can help you to get more business. The way to do that is to help them get more business.

As you can see, there are an enormous number of ways to connect on a personal basis. The next post, we'll delve into the professional side of things!

Networking Effectively Part 3: Making the Contact Concept Work for You

In Part 2 we learned about the Contact Concept. So how do you make it work for you?

• Start to think actively about who you know that you can refer people to. And who could refer business to you.Set a specific goal for the process
• Develop an awareness for opportunities to develop contacts.
• Make a point of listening and asking the right questions.
• Let people know the exact type of customer that you want. Learn to ask the questions that will tell you the exact type of customers others want.
• Develop a 30 - 60 second commercial, telling people in a quick and clear way what you do and why you're the person they want to do business with.
• Network on purpose, and with a purpose!

Defining your perfect customer/prospect
This may seem like an obvious thing to you, but it might not be to the people you deal with. You have to be specific when you let people know your ideal customer.

Examples are a better way to explain this:

* You sell insurance. Don't say "Everyone's a good prospect." Say something like : "I'm looking for middle income people who have recently bought homes or had children. The types of changes that make them start thinking about the future."

* You are an interior designer. Your ideal prospect might be : "Someone who has bought a home in the suburbs that is looking to add to their property values, or someone who was recently promoted to a position that requires more entertaining than they are used to."

* You sell cars. Specifically Mercedes Benz. Your ideal prospect might be "Someone who is moving up the ladder, has an eye for quality and is long term thinker."

Get the idea ? Sit down right now and come up with a short, clear description of the person who is most likely to want, use, and afford your product or service.

Define your ideal customer.
This is a valuable exercise not only for networking, but for your marketing efforts as a whole. You might find that it gives you a clearer focus on where and how you advertise, what you can do to be more efficient, and who you *don't* want as customers.

Networking Effectively Part 2: The Contact Concept

Simply put, this can be said as : "Connect, respect, refer." As you meet people, make a real connection with them. Ask them about themselves. Learn to really *listen*. Find out who their best prospect is and keep your eyes open. Show them respect, and refer them to people who can use their services.

How does this get you what you want ?
People will almost always return a favor. And they tend to assume that anyone who sees the quality of their work and their worth as a person will share the same values. They recommend people who are like themselves.

This will also help you develop a deserved reputation as a helper. That reputation is a major plus when dealing with networking. People like to be associated with those who are seen as being helpful.

Many people in business have a healthy respect for those who have "connections". They are seen as movers and shakers. This is an old and established view that holds up across the business scene no matter what part of the world or what culture you are looking at.

The most important thing in having connections is *being* a connection. There is also simply no better way to develop a relationship of trust than to make the first move. If they don't return the favor, you have lost nothing but a short amount of time. The returns from this type of "Putting the other guy first" thinking are tremendous. The downside is quite small. Try it. You'll be pleasantly surprised.

Networking Effectively Part 1

We're approaching the time of year that is riddled with holiday parties, year end events, and any number of chances to mix and mingle with contacts, current and new. So we're taking this time to kick off some tips for effective networking. We hope you learn and grow from them!

What are the advantages of networking ? What's in it for you ?

Networking has a lot of advantages over traditional advertising and marketing. These are the most important advantages:

More business: As you develop networking skills and contacts, you'll find that the amount of work you get from referrals accounts for the largest part of your new business. And the most profitable.  When properly handled, networks of contacts have a real tendency to grow. This will mean a constantly growing stream of new customers.

Better business: The business you get from referrals will usually be from happy customers. This will mean that your best customers, those who pay on time and without headaches, will be the ones who send you the additional business. Or those business contacts who value their association with you and respect your integrity and quality of work. Either way, good quality referrals.

Cost savings: As you get more business through referrals, you'll find less and less need to advertise and market your business. This means less of the associated costs. And since you'll be getting better quality business, it means less bad debts.

Time savings: Less need for cold calling and selling of work. Most of the referrals you'll get are for people who are already prepared to pay for your service and simply want to find some one they can trust to do the job properly. You'll be able to spend your time working at paying projects, rather than chasing questionable prospects.

Picking up the pace: Business slow ? Just starting ? There is no better way to get things going faster than through a solid referral. Or better yet, through a network of them.

Broader range of opportunities: Networking gives you exposure to more people and, as you develop relationships with those people, often leads to early information on new business opportunities. It also opens the option of initiating new ideas where you introduce contacts to make for a whole new business.

Interested vs. Interesting

OED Certified Advisor Sandy Riser of The Next Level Business Solutions brings us this simple and critical perspective on networking events.

When was the last time you went to a networking event where you felt someone was really interested in you? I like the theory about being interested in who you are talking to vs. what we think we should be at events which is being interesting.


If you switch those around, they will turn your networking into a powerful piece of your marketing. It is not all about you.
See more of Sandy's tips by visiting Next Levels's blog, or by follwoing them on Facebook and Twitter.

Networking Master

by OED Trustee ERIC W. LEAMAN
Why Network? Study after study has been released showing that owners of small businesses consider networking as THE number one way for new business development.

INTRODUCTION TO NETWORKING

The word conjures up all sorts of interesting pictures. Men in recliners smoking cigars and making deals in back rooms. MLM distributors cheering at training sessions and trying to recruit everyone who comes within 3 feet of them when they're done. Even computer wizards doing arcane things behind the scenes to make your Internet connection work.

Networking is about connections. For your purposes in business, it's making connections that bring you customers.

WHAT IS NETWORKING? Networking is cultivating mutually beneficial, give-and-take, win-win relationships.

Networking is the process of developing and nurturing professional contacts to obtain:

1. Referrals

2. Advice

3. Information

4. Support Networking is the ability to relate to and talk to anyone ... anytime ... anywhere, with honesty.

Those who know how to use a network realize:

We are not dependent on each other; nor are we independent of each other ... we are interdependent with each other! The strength ... excitement of networking/networks is that all the people who are part of your network are parts of other networks and their own! Remember ... the "Law of 250" ... Each of us has a sphere of influence of 250 people. (The people who would attend our wedding or funeral). The more people you meet (network) the larger your sphere ... they all have 250 also! A couple of basic working definitions are in order.

Contact A person with whom you have developed, or are developing, an ongoing relationship of trust and mutual respect, SPECIFICALLY REGARDING BUSINESS MATTERS.

To read this complete article & download the complete resource document, visit the OED Community!