In the world of networking, trust is the currency of choice. With it, doors open freely. Without it, you can be standing on the outside looking in at the business you wish you could have. Much more valuable than money, it grows in ways similar to money. Consistent effort, living up to commitments and time are key ingredients to building both trust and money.
Why then, do people walk into a strong-contact networking environment and expect to receive business without any currency? Is your sales manager serious when she expects you to walk out of a new customer’s house with a fist full of referrals?
A few days ago, I ran across a great blog post asking if it is possible for businesses to regain trust. “Integrity and honesty are two of the deepest and most human traits, and I say they absolutely translate to a business level,” said Amber Naslund, author of the Altitude Branding blog.
While I wholeheartedly agree, I also wonder why people expect to be referred to others before they have proven themselves to be trustworthy. Building business by referral requires authentic communication, transparency about your qualifications and proving you truly care about the success of your referral partner.
Maybe this is why so many people shun referrals as a way to build their business, preferring the more immediate feedback they get from cold calling. They will live by the cold call and the occasional referral that comes from being active. This model of business building will never die, but it certainly can kill otherwise good sales professionals!
Since trust is necessary to building solid relationships, here are a few things you can do to build that trust more quickly.
1. Be prepared to give a lot more than you receive. Giving the referrals people are asking for is a good way to get started. If you know your referral partner has a particular cause they are passionate about, volunteer to help occasionally. When you see an article that relates to their business, send it to them. These are all things that do not require a great deal of money and show you care about that person and their business.
2. Under promise and over deliver. Admittedly, this sounds trite. And it works, try it sometime!
3. Play fair. Networked Inc. founder Terry Bean likes to talk about coopetition, the art of cooperating with your competition. This can be a delicate balancing act and one that is highly profitable. It requires you to be transparent with your coopetition in every aspect of your business.
4. Drop the scorecard. There are many factors at play in giving and receiving referrals. Just because you give a referral does not mean it is easily reciprocated, so stop expecting a one-to-one referral exchange. Maybe your business requires a greater degree of trust to build before referrals can be given. Or maybe you just are not asking for the correct referrals. Regardless, keeping score will cause you to become bitter which will keep you from becoming referable!
Trust takes time is a correct but incomplete statement. Trust takes time, sincerity and consistent effort. I hope you are ready for the journey!
Get Nspired!
Sunday, March 22, 2009
Wednesday, March 11, 2009
Networking Shampoo!
There are only two universities in the United States that teach a class on networking, yet organizations like BNI are growing exponentially as sales professionals realize cold calling is no longer an effective lead generation tool. Few business schools are preparing their graduates for the real world of business, where effective sales people drive market share and profitability. Fortunately, there are several great resources for self-education that will allow you to shine in your field.
Realizing that most adults have a goal of reading a book a month, the following is a list of the best of the best books on networking so you can make the most of your precious reading time. These are my recommendations:
1. How to Win Friends and Influence People by Dale Carnegie. Networking is about building relationships. For effective relationships in general, this is a must read. For the successful networker, it is the next read! Sometimes the language is difficult because revisions to the book have been kept to a minimum, which is impressive to me. All that wisdom from 75+ years ago is still relevant today.
2. The 29% Solution by Ivan R. Misner, Ph.D. and Michelle R. Donovan. I am quite sure people have heard the six degrees of separation myth that is so pervasive in American thought today. The myth is so prevalent that people even like trying to figure out of they are really six degrees away from Kevin Bacon. Dr. Misner and Ms. Donovan start of shattering the myth, then laying out a comprehensive plan to get you closer to truly being only six degrees away from anyone on the planet. By reading and implementing just one chapter per week, you will be separating yourself from your competition too.
3. Never Eat Alone by Keith Ferrazzi. Ferrazzi is a master networker. Period. His strategies are easy to implement and so practical most “out-of-the-box” thinkers would never think them up. How about hosting a dinner party and having a strategy around it? Why not volunteer to help organize a conference so you can see the guest list? The spine on my copy of this book is weak from use!
4. Truth or Delusion by Ivan Misner Ph.D, Mike Macedonio, and Mike Garrison. Can you network at a funeral? Is your family a large referral source for you? Following the golden rule is the way to treat referral sources, right? The answers are not as obvious as you might think.
5. Jeffrey Gitomer’s Little Black Book of Connections. I love Gitomer’s writing style. He is a no-holds barred type of author. He is the only author I believe when he tells me my mother had already taught me the basics of networking by the time I was 10. And he is right on when he writes, “Becoming well known, or at least well known among your prospective customers or connections, is the single most valuable element in the entire connection process.”
6. Endless Referrals by Bob Burg. One thing I truly appreciate about Burg is that he is a win-win type of thinker. His approach to developing referrals reflects that too. Although the book is mostly about remaining visible so people will refer you, the savvy networker understands that visibility is a critical part of building a network of solid business professionals.
7. Masters of Networking by Ivan R. Misner, Ph.D and Don Morgan M.A. This is a change of pace book for me. I do like compilations but rarely recommend them. This is a great one because Dr. Misner is one well-connected person! Stories from Mark Victor Hansen, Bob Burg and Jay Conrad Levinson make this a great read in between appointments.
If this article were a shampoo bottle label, it would tell you to lather, rinse and repeat. To achieve networking greatness, I encourage you to do the same with your reading!
Get Nspired!
Realizing that most adults have a goal of reading a book a month, the following is a list of the best of the best books on networking so you can make the most of your precious reading time. These are my recommendations:
1. How to Win Friends and Influence People by Dale Carnegie. Networking is about building relationships. For effective relationships in general, this is a must read. For the successful networker, it is the next read! Sometimes the language is difficult because revisions to the book have been kept to a minimum, which is impressive to me. All that wisdom from 75+ years ago is still relevant today.
2. The 29% Solution by Ivan R. Misner, Ph.D. and Michelle R. Donovan. I am quite sure people have heard the six degrees of separation myth that is so pervasive in American thought today. The myth is so prevalent that people even like trying to figure out of they are really six degrees away from Kevin Bacon. Dr. Misner and Ms. Donovan start of shattering the myth, then laying out a comprehensive plan to get you closer to truly being only six degrees away from anyone on the planet. By reading and implementing just one chapter per week, you will be separating yourself from your competition too.
3. Never Eat Alone by Keith Ferrazzi. Ferrazzi is a master networker. Period. His strategies are easy to implement and so practical most “out-of-the-box” thinkers would never think them up. How about hosting a dinner party and having a strategy around it? Why not volunteer to help organize a conference so you can see the guest list? The spine on my copy of this book is weak from use!
4. Truth or Delusion by Ivan Misner Ph.D, Mike Macedonio, and Mike Garrison. Can you network at a funeral? Is your family a large referral source for you? Following the golden rule is the way to treat referral sources, right? The answers are not as obvious as you might think.
5. Jeffrey Gitomer’s Little Black Book of Connections. I love Gitomer’s writing style. He is a no-holds barred type of author. He is the only author I believe when he tells me my mother had already taught me the basics of networking by the time I was 10. And he is right on when he writes, “Becoming well known, or at least well known among your prospective customers or connections, is the single most valuable element in the entire connection process.”
6. Endless Referrals by Bob Burg. One thing I truly appreciate about Burg is that he is a win-win type of thinker. His approach to developing referrals reflects that too. Although the book is mostly about remaining visible so people will refer you, the savvy networker understands that visibility is a critical part of building a network of solid business professionals.
7. Masters of Networking by Ivan R. Misner, Ph.D and Don Morgan M.A. This is a change of pace book for me. I do like compilations but rarely recommend them. This is a great one because Dr. Misner is one well-connected person! Stories from Mark Victor Hansen, Bob Burg and Jay Conrad Levinson make this a great read in between appointments.
If this article were a shampoo bottle label, it would tell you to lather, rinse and repeat. To achieve networking greatness, I encourage you to do the same with your reading!
Get Nspired!
Saturday, March 7, 2009
Linkedin to Profitability in Seven Steps
The law of Visibility+Credibility=Profitability (V+C=P) has been promoted by BNI for a few years and makes a ton of sense for offline networkers. You become visible by doing things like authoring articles, speaking at Rotary Chapters and participating in Chamber of Commerce mixers on a regular basis. When people talk with you, research your work and realize you are a person of integrity, your credibility grows. That makes you referable which leads to profitability.
What if you are networking online through Linkedin? How do you create the visibility and credibility needed to become profitable? Here are seven steps you can implement immediately to put the law of V+C=P to work for you on Linkedin today!
1. Complete your profile! Treat your profile as an online resume. You are putting yourself online to generate more business; so potential business partners need to know who you are. Your experience relevant to them is important, so make sure it is easy to read and readily available. So to is your summary. People need to know what you are looking for and your summary is where you tell them. A good, professional looking photo will help cap off your profile and is one thing several small business owners look for before calling. They like to know you are real!
2. Give recommendations! Make sure your recommendations are relevant and specific to the person you are recommending. This helps people in your network gain credibility because you have given a third party endorsement of their product or service. Every time you give a recommendation, it appears as an update on your profile throughout your network too!
3. Ask for recommendations! As I was taught in the Dale Carnegie Sales Advantage course, it is a great idea to ask for a letter of recommendation from customers. That is one offline strategy that translates directly into the online world with great success. Each time someone recommends you, it appears as a status update to his or her network. That exposes you to their network in the best possible way!
4. Answer questions! Every question you answer through the Linkedin Answers tab appears as a status update for you, keeping you visible. Once someone has closed a question, they also get the opportunity to select who gave the best answer. If that is you, it appears on your profile for everyone to see. Answering questions gives you great V+C!
5. Participate in groups! Most universities, Chamber of Commerce and industry assocations have a group on Linkedin. Find a few that relate to your interests and join them today. When you are accepted, get on the discussion boards. Each time you participate in a discussion, it is posted as an update to the group. It is a great way to build V+C to a much larger network!
6. Utilize applications! I decided to check out the new Polls feature on Linkedin to ask questions about networking. As soon as the poll was complete, it appeared as a status update on my profile. I was given a link that I could post anywhere, so I posted it in a few of the larger groups I belong to and asked for feedback. The resulting responses caused several dozen hits to my profile and a few new connections!
7. Status updates! Celebrate client wins, great conversations with new referral partners or even what you just read. This is an easy way to keep in front of your network daily. If you want to update this and several other services at once, check out Ping.fm.
The path to profitability online is the same as offline, even if the methods are different. Make the commitment today to implement at least one of these methods everyday and watch your visibility and credibility soar!
Get Nspired!
What if you are networking online through Linkedin? How do you create the visibility and credibility needed to become profitable? Here are seven steps you can implement immediately to put the law of V+C=P to work for you on Linkedin today!
1. Complete your profile! Treat your profile as an online resume. You are putting yourself online to generate more business; so potential business partners need to know who you are. Your experience relevant to them is important, so make sure it is easy to read and readily available. So to is your summary. People need to know what you are looking for and your summary is where you tell them. A good, professional looking photo will help cap off your profile and is one thing several small business owners look for before calling. They like to know you are real!
2. Give recommendations! Make sure your recommendations are relevant and specific to the person you are recommending. This helps people in your network gain credibility because you have given a third party endorsement of their product or service. Every time you give a recommendation, it appears as an update on your profile throughout your network too!
3. Ask for recommendations! As I was taught in the Dale Carnegie Sales Advantage course, it is a great idea to ask for a letter of recommendation from customers. That is one offline strategy that translates directly into the online world with great success. Each time someone recommends you, it appears as a status update to his or her network. That exposes you to their network in the best possible way!
4. Answer questions! Every question you answer through the Linkedin Answers tab appears as a status update for you, keeping you visible. Once someone has closed a question, they also get the opportunity to select who gave the best answer. If that is you, it appears on your profile for everyone to see. Answering questions gives you great V+C!
5. Participate in groups! Most universities, Chamber of Commerce and industry assocations have a group on Linkedin. Find a few that relate to your interests and join them today. When you are accepted, get on the discussion boards. Each time you participate in a discussion, it is posted as an update to the group. It is a great way to build V+C to a much larger network!
6. Utilize applications! I decided to check out the new Polls feature on Linkedin to ask questions about networking. As soon as the poll was complete, it appeared as a status update on my profile. I was given a link that I could post anywhere, so I posted it in a few of the larger groups I belong to and asked for feedback. The resulting responses caused several dozen hits to my profile and a few new connections!
7. Status updates! Celebrate client wins, great conversations with new referral partners or even what you just read. This is an easy way to keep in front of your network daily. If you want to update this and several other services at once, check out Ping.fm.
The path to profitability online is the same as offline, even if the methods are different. Make the commitment today to implement at least one of these methods everyday and watch your visibility and credibility soar!
Get Nspired!
A Case for Networking; Ending Interruptions One Relationship at a Time
Reading is a way of life for me. I read over 40 books last year and read blogs from at least 20 different authors on a regular basis. Sometimes I even read things by people I do not agree with to keep my own arguments sharp. Which is how I ran across the blog, “Networking for Results.”
You see, Doyle Slayton, founder of Sales Blogcast loves cold calling. “Don’t get me wrong, I’ve met a lot of nice people and built some good friendships at networking events, but when I’m looking for results… when I’m looking to exceed quota… I get on the phone! Cold calling and pipeline management… that’s the key to sales success!” said Slayton.
He is right, for him. For many people, building relationships is key to sales success. Most networkers fall back to ineffective arguments when faced with impatient sales managers. They say things like, “I hate cold calling,” or “I think the phone might bite me” when pressured to cold call. With the advent of Do Not Call lists and other measures, what is a sales professional to do?
Answer; follow Seth Godin’s advice! In his book Meatball Sundae, the master marketer talks about the interruption method of marketing as a dying beast. Billboards, newspapers ads and television commercials no longer hold the sway they once did. With the advent of social media, what is beginning to work is building relationships with potential customers.
How does that relate to the average salesperson? In a sales environment, cold calling is akin to interruption marketing, so you need to build relationships with potential customers if you want to survive!
Slayton does say in his blog that he will keep an open mind, IF someone can give him a step-by-step process for building relationships. Here it is:
1. Be truly interested in other people. This means that you have to listen much more than you talk when you are first meeting people. No more formulating your next thought while the other person is talking or you could be missing something critical to building a quality relationship.
2. Be willing to give without expecting to gain. With your sharply honed listening skills, you will come to learn different ways you can help people. It might be volunteering to help with their favorite community benefit organizations. It could be making an introduction they need to build their business. It could be just listening. Just leave the scorecard at home.
3. Be patient. This is a long-term strategy. Building trust in a relationship takes time. You can build trust more quickly by being impeccable in everything you say and do. Just remember that trust takes time!
This is just the beginning. Building relationships is a long-term strategy. Networking is not a get-rich-quick scheme, but it can be a profitable and fulfilling way to build your business. For evidence and advise on relationship building, review the legacy of Dale Carnegie. Mr. Carnegie was one of the best relationship builders America has ever known. Although he passed away over 50 years ago, his courses in relationship building are still being taught all around the world.
Get Nspired!
You see, Doyle Slayton, founder of Sales Blogcast loves cold calling. “Don’t get me wrong, I’ve met a lot of nice people and built some good friendships at networking events, but when I’m looking for results… when I’m looking to exceed quota… I get on the phone! Cold calling and pipeline management… that’s the key to sales success!” said Slayton.
He is right, for him. For many people, building relationships is key to sales success. Most networkers fall back to ineffective arguments when faced with impatient sales managers. They say things like, “I hate cold calling,” or “I think the phone might bite me” when pressured to cold call. With the advent of Do Not Call lists and other measures, what is a sales professional to do?
Answer; follow Seth Godin’s advice! In his book Meatball Sundae, the master marketer talks about the interruption method of marketing as a dying beast. Billboards, newspapers ads and television commercials no longer hold the sway they once did. With the advent of social media, what is beginning to work is building relationships with potential customers.
How does that relate to the average salesperson? In a sales environment, cold calling is akin to interruption marketing, so you need to build relationships with potential customers if you want to survive!
Slayton does say in his blog that he will keep an open mind, IF someone can give him a step-by-step process for building relationships. Here it is:
1. Be truly interested in other people. This means that you have to listen much more than you talk when you are first meeting people. No more formulating your next thought while the other person is talking or you could be missing something critical to building a quality relationship.
2. Be willing to give without expecting to gain. With your sharply honed listening skills, you will come to learn different ways you can help people. It might be volunteering to help with their favorite community benefit organizations. It could be making an introduction they need to build their business. It could be just listening. Just leave the scorecard at home.
3. Be patient. This is a long-term strategy. Building trust in a relationship takes time. You can build trust more quickly by being impeccable in everything you say and do. Just remember that trust takes time!
This is just the beginning. Building relationships is a long-term strategy. Networking is not a get-rich-quick scheme, but it can be a profitable and fulfilling way to build your business. For evidence and advise on relationship building, review the legacy of Dale Carnegie. Mr. Carnegie was one of the best relationship builders America has ever known. Although he passed away over 50 years ago, his courses in relationship building are still being taught all around the world.
Get Nspired!
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