Strategic Alliances

Strategic Alliances

A strategic alliance is an arrangement between two companies that have decided to share resources to undertake a specific, mutually beneficial project. With strategic alliances, each member will contribute to your success. No one person is likely to turn your business around, but together, over a long time, they can make a difference. By having a series of small actions over time, you can gradually enhance your relationships and really yield big results

Don’t give up if there’s no immediate payoff. The key is to stay in touch. The best strategic alliances stay connected several times over the year. Plus, you meet in person on several occasions. During that time, you discuss some really simple ways that you can help each other. Therefore, you gradually enhance the relationship.

Successful networking is a series of small actions. Most people who are successful at networking and creating strong strategic alliances view the process as a series of small actions taken with many people to create long-term positive growth for your company. It’s not a get rich scheme. By working with multiple people over a long period of time, you build your business. Don’t just write somebody off if they can’t add something or contribute something to your business immediately.

If you are a member of a networking group, look at the members of the group. Each of them will contribute to your success and they layer a little bit of success on top of each other for you. Each one is a little layer of success for you. No one person in your chapter is likely to turn your business around, but together over a long period of time; they can make a dramatic difference.

In conclusion, I highly recommend that you form strategic alliances with others. By working with multiple people over a long period of time, you build an incredibly solid foundation for successful business.

VCP process

The VCP Process with Tiffanie Kellog

We simply can’t achieve success at networking without strategically building VCP = visibility, earning credibility, and then ultimately gaining profitability.

VCP is a referral process, not a sales process. If the majority of your clients aren’t giving you referrals, then you are only at Credibility with your clients, not at Profitability. It’s possible that you can have a lot of Visibility and a lot of Credibility, but NOT have Profitability. Rather than a formula, VCP is a continuum. Before you can refer to someone, you will need to know, like, and trust them.

In this guest video blog, Tiffanie Kellog, a trainer for Asentiv Florida, explores the three stages of the VCP process. Click here to watch.

In short, your goal should be to first enter Visibility with people, then perform activities that will help you build trust and Credibility with them, and finally through time and the strengthening of that relationship, they will most likely pass you consistent referrals in the Profitability stage.  After all, “It’s not who you know, it’s who knows you.

John Maxwell interview

John Maxwell Interviews Ivan Misner on “Networking”

In this video, I discuss with John Maxwell about checking your checkbook and calendar priorities and how to build your business by building relationships. I also share how I reverse engineer my goals.  Finally, we discussed coaching vs. mentoring and “Farming vs. Hunting”. Please click on the photo below to watch the video of my personal interview with John Maxell.

 

John Maxwell interview

John Maxwell Interviews Ivan Misner

Ivan Misner on “Networking” from The John Maxwell Team on Vimeo.

 

John Maxwell

John Maxwell Interviews Ivan Misner on “Building Relationships”

In this video, I share with John Maxwell how BNI started with my personal need to build my business with referrals. I also share who are my mentors and the philosophy of Givers Gain.  Finally, we discussed how you should make decisions based on the information you are provided WITHIN the context of your value system. Please click on the photo below to watch the video of my personal interview with John Maxell.

John Maxwell interview

John Maxwell Interviews Ivan Misner on “Building Relationships”

Ivan Misner on “Building Relationships”

from The John Maxwell Team on Vimeo.

10 Questions to Ask When Meeting Someone for the First Time

When meeting someone for the first time, do you ever find yourself getting tongue-tied or feeling lost when it comes to knowing what questions you should ask to get a conversation going? Help is here!

Below, I list 10 questions that I personally use when I’m meeting someone for the first time.  Most of the questions shouldn’t be too surprising to you because what you’re trying to glean from an initial conversation with someone is usually pretty standard.  However, there are two questions that I really, really love.  One of them will allow you to get an idea of what someone is truly passionate about when it comes to their business.  The other will create a powerful opportunity for you to make a real connection and begin building a lasting, mutually beneficial relationship.

Here are ten great questions to ask someone while networking that are then likely to be asked of you in return. These would be great questions to pose during your next one-to-one meeting.

1. What do you do?

2. Who’s your target market?

3. What do you like most about what you do?

4. What’s new in your business?

5. What’s the biggest challenge for you and your business?

6. What sets you apart from your competition?

7. Why did you start your business?

8. Where is your business located?

9. What’s your most popular product?

10. How do you generate most of your business?

In his book Endless Referrals, my good friend Bob Burg posed what may be the single best question we’ve heard to ask someone about what he or she does. Bob writes that the question “must be asked smoothly and sincerely, and only after some initial rapport has been established”. The question is this: ‘How can I know if someone I’m talking to is a good prospect for you?” Bob is right on the mark with this question. It separates you from the rest of the pack; it’s a question that the average person doesn’t ask. And it demonstrates one of the top ten traits of a master networker: helpfulness

Please think about what questions you ask people during an initial introduction.  Do you have any different or unusual questions which you’ve found to be particularly helpful in your conversations?  I’ve told you what questions I use and I’m very curious to hear what questions you’ve had success with, so please take a moment to share in the comment forum below.

More Strategies to Stay in Touch

 

Last week I shared four ideas for staying in touch with people. I discussed sorting through you list then using the system they use. I recommended using social media and old-fashioned stamp and envelope snail mail.

Here are 3 more strategies that will help you improve how you can stay in touch with others.  If you can’t do them all – do what works for you.

  1. Online chat/Skype or other instant message systems. I’m not a big fan but – it’s not about me, it’s about the other person.  What are they using?  I see many people using messaging systems online?  If you want to stay connected, connect where they are.
  2. Periodic phone calls. I know, crazy idea, actually talk to people.  Your smart phone has a green button – use it.  If appropriate, set up regular calls.  My wife and her sister have done that for many years.
  3. Face to face. Don’t be a “cave dweller.”  Nothing beats actually meeting someone face to face and having a conversation.  You have to eat breakfast and lunch every day, so why not do this a few times a week with a good referral partner? You can kill two birds with one stone by strategizing with your referral partner about how to help each other over a meal.

Benign neglect is a horrible thing when it comes to building social capital.  Start today to stay in touch. Pick a few of the techniques I listed above and “touch” someone.  Hey now, keep it appropriate.

Four Strategies to Stay in Touch

People often ask me, “how can I stay in touch with people or get back in touch with people that I haven’t seen or spoken with recently?”

Start by making a commitment to improving this area.  There’s a great Chinese proverb that I really like – “When’s the best time to plant an Oak tree?  The answer is – 20 years ago.  When’s the second best time – now!”

So, here are 4 strategies that will help you improve in this area.  If you can’t do them all – do what works for you.

  1. Sort through your list of people. You can’t stay in touch with everyone.  Who do you want to make sure to stay connected with and why?  It could be personal, it could be professional, but create a list that you want to focus on.
  2. Use the system they use! It doesn’t have to be Facebook or LinkedIn – use Pinterest or other programs, Snapchat, What’s App – whatever they use.   Each of my children uses  different systems.  If I want to connect with them – I need to go where they are.  For my oldest daughter, it’s texting or a phone call.  For my second daughter, it’s What’s App or texting.  For my son, it’s an online game called Steam.  I have some business associates who only reach out to me on Facebook or LinkedIn.  Others are strictly email or a phone call.  The key here – is to go where the people you want to talk to, hangout.
  3. Use social media platforms like Facebook, LinkedIn, Google+ or Twitter to your advantage by sharing news and reading updates without having to reach out to people on an individual basis. Social media is fantastic. Instead of starting your next call with, “What’s new?” you can jump to, “You cut off your hair!” “You have a new job!”
  4. From time to time, use snail mail! Yes, OMG, send a handwritten letter or a card.  It’s so “old school” and it’s almost guaranteed that someone will read it.

Next week I will share more tips.

Remembering Names

When networking, it’s important to remember the basics of interpersonal communication–making eye contact, listening more than you speak, and of course, actually remembering people’s names.

Yeah, I’d say remembering someone’s name is high up in the list of mannerisms that will impress others in networking. It shows you pay attention to detail, you listen well and are interested in the person, not just their business.

It can be challenging to remember names, especially if you’re an avid networker. Years ago, I was told about a four-step process that will ensure you never forget your manners–and it actually works!

1. Repetition is key. When you are introduced to someone new, ask for their business card and read it carefully. Then, read the name on the card and ask them to repeat it; it will help lock the face with the name. “Hi! It’s great to meet you, Betsy Smith. It’s pronounced Betsy, yes?”

2. Use their name in conversation. When you begin a conversation, listen to what they are saying and respond by using their name; “Wow, Betsy, that sounds like an incredible opportunity! I’d love to sit down with you over lunch and talk more.” ID-10046846

3. Connect them with others and use their name in the introduction. You are networking after all, so it’s important to connect others if you can. Whe introducing two people, use their names when they first meet. “Joe, I’d like you to meet Betsy. Betsy is a realtor who just landed a big contract with the city. I bet you two would have a lot to talk about!”

4. Dedicate it to memory. Once you’ve left the networking event and you’re back at home or work, take out the business card and try and remember what that person looked like and what they were doing and saying. Maybe even send them a quick “nice to meet you” email to help you remember the conversation you had.

The next time your at a networking event, try to use these devices and see if it helps. If you can remember the devices, that is.

 

Conscious Men

Good friends of mine, Dr. John Gray (the author of Men are From Mars, Women are from Venus) and Arjuna Ardagh, have recently released their newest novel, Conscious Men. This wonderful book highlights me, and the story of BNI, in numerous places throughout, and I’m honored to have been mentioned in their latest work. My “Village People story” and the “story of Bob” are both highlighted in this book.

To get a copy of the book, visit the promotional website here.

Check out this week’s video blog, featuring both John and Arjuna, by clicking on the graphic above, or clicking here.

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