Business Networking | Dr. Ivan Misner®

18Sep2023

Successful Business Networkingstring(30) "Successful Business Networking"

September 18, 2023

Let’s talk about the word “networking”. It has become so overused that some business professionals can no longer define it. Many people think that networking is only about going to social mixers or after-work business events, where they shake a few hands, collect some new business cards, and, of course, give away some cards of their own. Sadly, they truly believe that’s all there is to networking. To be fair, we could say that they are engaging in social networking. However, that type of activity should never be confused with business networking.

As the Founder & Chief Visionary officer of BNI^® I have seen the definition of business networking change and evolve over the past 38 years. This is my definition of networking:
“Networking is the process of developing and activating your relationships to increase your business, enhance your knowledge, and expand your sphere of influence or serve the community.”

Notice the key word is relationships.

Successful networking of any kind starts with the genuine desire to build relationships for the purpose of giving and receiving business. If someone is only networking to gain and not to give, they will never be successful.

Building Relationships should be one of the most important components of your business. And the best way to do that is by FARMING not by hunting. It is all about cultivating relationships – taking the time and giving the energy to help them grow and flourish. Think like a good farmer does: they know when to tend to their crops and when to harvest them. If you over pick or try to harvest too soon, you’ll be left with nothing. However, if you continue to care for and maintain your crops (and your business relationships), they will grow abundantly and provide bountiful results for you.

Business professionals who are the farming type of networkers go to networking events because of the opportunities to meet new people. They do not use those events as face-to-face cold calling opportunities. They understand the importance of meeting someone and then building a relationship with them. They go well beyond the ‘hunting’ style of meeting people, which is simply adding another name to their contact list.

Build Deep Relationships

I’ve said this for years: If your network is a mile wide and an inch deep, it is not powerful. To maximize your business relationships, you need to go beyond knowing someone’s name, their job, and where they work. A deep network contains the contacts that you know much more about, and those who usually know much more about you. You want to find out about their family, their interests, their hobbies, their goals. That is how you build a strong, deep network.

Social capital is also an important component of building strong relationships. Social capital is like financial capital. In order to amass financial capital, you have to invest and grow your assets. You need to have money in the bank before you can make a withdrawal. Relationships are very much the same, particularly referral relationships. You must support and help others with their business before you can ask for their help.

Two Views of Business Networking

I have found that businesspeople tend to fall into one of two groups when it comes to their views about networking. For many people, the current mind-set is that networking is a passive business strategy, rather than a proactive marketing tool. This attitude results in a scattered and often ineffective networking approach that consequently wastes the businessperson’s time, and their money. It’s no surprise that when people feel they’ve been wasting their time and money on something, they are understandably not going to want to continue that activity.

On the other hand, some professionals do consider networking a proactive marketing tool for their business. How can you tell? They make it a significant part of their marketing and business plans. They have networking goals. They may even include a budget line item for networking. Most importantly, they practice it and live it every day. They realize that their networking team is there to keep an eye out for potential customers for them. When you “target talk”, that is, when you hone in on exactly what type of client you are looking for, the result will be better, more qualified referrals from your networking partners.

When you have a proactive mindset and attitude about networking, and you focus on building strong, mutually beneficial relationships with like-minded people, you will be well on your way to successful business networking.

Related posts:

Networking – the TRUE Definition

A recent Google search for “what is networking”…

Is Your Network a Mile Wide But an Inch Deep?

Is your personal network deep…

10Aug2023

How to avoid assumptions in business networking

Avoid Assumptionsstring(17) "Avoid Assumptions"

August 10, 2023

Ivan Misner

BNI, Business Networking

When it comes to business networking, assuming that others know everything about your business can be a costly mistake. A florist once made this error, assuming that everyone in a networking group was familiar with the extent of his services. I heard him tell the members of the group, “I’m not sure what else to say. You all know what a florist does, right?” Wrong! His presumption was not only completely wrong, he also missed a valuable opportunity to educate potential customers and referral partners about his full range of offerings.

After the meeting, I asked him if he was an FTD florist, and then asked him several other questions:

Did he offer seasonal specials for holidays? If so, which ones?
Did he handle emergency orders?
Did he have experience with weddings?
Could I set up a billing arrangement with his company?
Could I order online?
Do certain colors of roses signify certain things?
Could he give me tips to keep flowers alive longer?

I told him there were hundreds of things I didn’t know about his business, and other people surely felt the same way. They need to know what he offers, who he serves, how he does it, and why he is the best choice.

The florist’s case serves as a lesson for all entrepreneurs: never assume that people know everything about your business. Even in networking circles, where professionals come together on a regular basis to connect and exchange information, there is still a need to educate others about your services, products, and the solutions you can provide.

The Power of Educating Others

To effectively engage in your networking group and capitalize on the referral opportunities, consider these steps:

Prepare a List of Questions
Start by creating a list of questions that potential clients might have about your business. These questions can encompass the range of services you offer, pricing details, special promotions, customer policies, and anything else relevant to your industry.

Address One Question Per Meeting
At each networking event, focus on addressing one question from your list when you are speaking to the group. Present concise and informative answers that showcase the depth and breadth of your business. This approach educates others about your offerings and is engaging and memorable.

Showcase Your Expertise
In networking, people seek expertise and trustworthiness in potential business partners. By taking the time to educate others about your business, you establish yourself as an authority in your field. This credibility enhances the possibility of gaining referrals and attracting new customers.

Share Unique Selling Points
Educating others about your business allows you to highlight your unique selling points. Use networking opportunities to showcase what sets you apart from competitors and why potential clients should choose your products or services.

Emphasize Customer Benefits
As share information by answering questions from your list, always emphasize the benefits your customers can expect from working with you. Highlight the value you bring and how you address the specific needs of your target market.

Be Open to Learning
Networking is a two-way street. While educating others about your business, be open to learning about theirs. Understanding their needs and interests better allows you to tailor your responses more effectively and identify potential collaboration opportunities.

Follow Up with Interested Contacts
After networking events, follow up with individuals who expressed interest in your services, and follow up with the referrals you receive, preferably within 24 hours. You can answer any questions they may have and continue educating them about your business with timely and personalized communication.

Bonus tip
If you have ten questions from your original list, and you develop ten weekly presentations from those questions, plan to reuse them again at future networking meetings. People need to hear your information more than once, and there will be new people in the room who know nothing about what you do.

Educate Others

Networking provides a platform to educate others about your business, ensuring that potential customers have a comprehensive understanding of your offerings. By avoiding assumptions and proactively sharing valuable information, you can position yourself as a trusted authority and gain a competitive edge in the market. Embrace networking as an opportunity to educate, connect, and build lasting business relationships that pave the way for success.

Remember the florist from above? He knew his business and assumed that everyone else knew it as well. Avoid making that same assumption in YOUR networking group. Everyone has something they can say that will educate people about the products and services their business has to offer. Avoid assumptions and don’t pass up a chance to teach people more about what you do!

Related Blog Posts

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29Jun2023

Why Teach Your Employees to Network?string(36) "Why Teach Your Employees to Network?"

June 29, 2023

Ivan Misner

BNI, Business Networking

Once while traveling to a book tour date, I sat next to a young man in an airport who struck up a conversation with me. We started talking about what we each did for a living and after explaining what I do, I found out that he worked for a small, family-owned grocery business. I commented that it was probably tough to be the little guy in competition with the larger chain grocery stores and that his employer must be doing something right to still be in business.

Now, being in the business of networking for 20+ years at that time, it was a no-brainer to me that my comments and inquiries about the young man’s employer were a prime opportunity for him to explain what made his company special and to possibly make a valuable networking connection that could bring in business, and maybe even mean a promotion for him.

However, instead of taking advantage of the open door I was extending to him with my curiosity, he just shrugged his shoulders and said, “Yeah, we’ve had the same customers for years, so I guess we’re just lucky that they are so loyal.”

That conversation reminds me of how critically important it is to teach your employees to network! Many business people just don’t do this one simple thing which could dramatically boost their networking efforts. It doesn’t matter how much you – the manager or business owner, may know about networking, or even how well you network to promote your business. You don’t know what you could be missing out on if your employees were trained to network for you.

The fact is that until you teach someone how to do something effectively, expecting them to do it well, or even to do it at all, is unrealistic.

As you might imagine, it is far better to engage your entire staff or team in your referral marketing campaign when you start it, but also throughout the life of your business. When you show employees how to properly network, they are much more likely to network and talk about your products and services, providing your organization with a greater chance of gaining more business.

Here are some ideas to help your staff learn about business networking

You can do a short demonstration during a team meeting where you role-play ways to ask for referrals from customers, friends, and family. “Do you have a friend or neighbor who may also need our _____ service?”
If you belong to a weekly networking group like BNI®, bring your staff to those meetings, one at a time, so each team member can experience business networking and see the results it can produce. This also helps your networking partners feel that they know your business better, since they are able to meet the people in your company.

Networking is a group activity, so make sure to get your whole team on board with the process. Tell them WHY networking is important and teach them how to do it. You may find that it builds employee loyalty and pride in their job as they get to contribute to the success of the business in additional ways.

Have you done something to get your employees involved in networking your business? I’d love to hear about it.

1May2023

The Importance of One-to-One Meetings with Referral Partnersstring(60) "The Importance of One-to-One Meetings with Referral Partners"

May 1, 2023

Ivan Misner

BNI, Business Networking, Conversation, VCP Process

For years I’ve said that successful business networking is about building relationships with the people in your network. In addition to attending regular networking group meetings, it is imperative that you have one-to-one meetings with your fellow members outside of the group meetings.

This allows you to get a deeper understanding about their business, their products and services, their customers, and learn how you can refer them to people you know. It is also a way for them to do the same for you.

However, some people decline to have one-to-one meetings with their networking partners. I had a conversation with Tiffanie Kellog, BNI regional Training Team Coordinator in West Central Florida, USA, and we discussed the question: When is it okay to say no to a one-to-one?

Well, the answer is: NEVER. It’s never okay to say no to a one-to-one; that is, if you still want to generate referrals from that member.

What is the Purpose of a One-to-One?

The goal is to build relationships with our networking partners — to move through the VCP Process®, going from visibility, to credibility, to profitability. If we say no to a one-to-one meeting, if we’re too busy for our fellow members, then it is stopping the relationship. Think about it – if you’re too busy for a one-to-one, how are you going to have time to take care of the referrals I want to give to you?

And you never know what can come from a one-to-one meeting, even if you don’t think that person has much to contribute to you. I once went to a business meeting and sat next to a college student. I first thought, “Geez, what am I doing, sitting next to this college student? There are all these businesspeople that I want to sit next to.” And I thought to myself, okay, buck-up buttercup. You’re an expert on networking, network with this student. So I asked her lots of questions and got her to open up.

And guess what happened. After the meeting, one of the business associates came up to me and said, “Thank you.” I said, “Why?” He said, “Nobody ever talks to my daughter like that. They all want to sit next to the businesspeople. But you got her to open up and I really appreciate what you did at dinner.” I ended up making a good connection with the father, and I hardly talked to him at all. You never know where a one-to-one can lead.

Tips to Make it Easier to Say “Yes” to a 1-2-1

Schedule well in advance. Find a date that is convenient for both of you. One-to-one meetings are always more successful when both members have time to prepare.
Schedule outside your busiest season. We all understand that certain times of year are busier for some professions, such as accountants during tax time and retail store owners during holiday season. People appreciate when we respect their time restraints.
Have a purpose and format for the meeting. You can ask: What is the intention for the meeting? What are we looking to accomplish? Utilizing the G.A.I.N.S. exchange is a very powerful format for a first time one-to-one with a networking partner.
Stack multiple one-to-one meetings on the same day at the same location. This saves you time traveling to multiple locations on different days. You can also schedule virtual meetings back-to-back. Pick one or two days a week and block off time for meetings with your referral partners.
When someone asks you for a meeting, it’s okay to ask what they want to talk about and how long they think it will take. Having an agenda can help you decide how soon you want to schedule the meeting, and whether you need a one-to-one or just a quick conversation.

Business networking is about taking the time to build genuine, trusted relationships. Investing the time and effort into getting to know your networking members through productive, referral generating one-to-one meetings is the key to networking success.

13Apr2023

Business Networking and Friendsstring(31) "Business Networking and Friends"

April 13, 2023

Ivan Misner

Networking Group’s BNI, Business Networking, Networking

I have found that one of the strengths of a good networking group is that most of the members become friends. Ironically, one of the weaknesses in networking groups is that most of the members become friends. Yes, it’s both a strength and a weakness. Accountability is crucial in running a good network because friends don’t like to hold friends accountable. I have also found that people who truly understand business networking recognize the need to have a system and structure to get results.

It can be dangerously easy for a networking group that meets regularly to become a talk session over coffee with little or no networking taking place. That is what happens when the group loses sight of their purpose, their focus, system, and structure – or it happens if they never had any of those things to begin with.

Often, people begin to make up their own agendas and they lose their focus on networking. When you lose focus, the meetings become social. Networking should be about business. Of course, there will be a social aspect, but it’s mainly about business, commitment, and accountability.

Leadership and Teaching

People can be like water – taking the path of least resistance. Without the proper framework in which to operate, the agenda might become the current topic of the day’s news, or it ends up being whatever the person running the group thinks the meeting should be from their own personal perspective. Inconsistency like that, over time, is a problem for a networking group.

Even if the group has a good, strong leader, that person’s life will change at some point or maybe they will simply get burned out. The problem starts if there is nobody else to teach. Teaching is a leaky-bucket process. You begin with a full bucket of information. When that information is taught to someone else, some of it leaks out of the bucket and the people being taught get a limited version of the information. Then, when that person teaches someone else, the material continues to get watered down based on their personal understanding and their ability to articulate the material.

By the time you are in the third or fourth generation of people passing along the information, you only have about half a bucket remaining. When the bucket of information gets low, people start putting in their own content. The problem is that it might not be good content. I’ve seen this time and time again. By the way, very rarely does the material improve over time with the leaky bucket process.

I learned early on that the best solution is to write everything down to develop “train the trainer” material so there is consistency in the system and the way the training is conducted. Making the leadership training part of a replicable system is the best way to fill the leaks and have good leaders for the organization.

I think it is a beautiful thing when people in a networking group become close friends. The key is to make sure it doesn’t detract from the group’s goal of building each other’s business through networking and referrals.

It is important for ALL networking groups to ensure that there is a strong sense of purpose with a solid structure, and that each member is committed to carrying out the systems for networking which are already in place. This will ensure that members agree to be accountable with their business networking friends.

How does your networking group maintain its focus and commitment to systematic networking practices? I’d love to hear your thoughts – leave a comment below.

27Mar2023

Business Networking and the Solar Systemstring(40) "Business Networking and the Solar System"

March 27, 2023

Ivan Misner

Necker Island, Solar System Business Networking

During a hike on my recent trip to Necker Island, my friend, Mike Macedonio, and I had a great conversation about comparing the hiking trail to the solar system.
I invite you to watch this short video to learn more.

It reminded me that business networking is a journey and it’s all about relationships. Remember, networking is a marathon, not a sprint.

6Mar2023

I was a Lollipop Entrepreneurstring(29) "I was a Lollipop Entrepreneur"

March 6, 2023

Ivan Misner

Room Full of Referrals, The Platinum Rule BNI, Business Networking, Entrepreneur, Promoter 8

It is extremely valuable to understand your behavioral style and how it relates to your business networking. Most importantly, learning how to identify behavioral styles in others, and then learning how to adapt your own approach to those different styles, can make a significant difference in your referability.

I wrote about this in my book, “Room Full of Referrals,” with co-authors Dr. Tony Alessandra and Dawn Lyons. All customers and all networkers prefer communication in a manner that is most familiar to them. Knowing their personal style can help you customize an effective sales or networking approach for each unique individual.

Dr. Tony Alessandra calls this The Platinum Rule – the idea of treating people the way they want to be treated.

The Four Common Behavioral Styles

Go-Getter: Fast-paced, task-oriented, & doesn’t like to be wrong about anything.
Driven, Bold, Decisive, Strong Desire to Lead
Promoter: Fast-paced, people-oriented, gregarious, likes to be in the spotlight.
Energetic, Outgoing, Fun-Loving, Positive, Talkative
Nurturer: Slower-paced, people-oriented, dislikes confrontation, & helps others.
Patient, Helpful, Understanding, Reserved
Examiner: Slower-paced, task-oriented, methodical, likes facts, & dislikes hype.
Effective, Efficient, Thorough, Research-Oriented

A key point to remember is that we are all a blend of the four styles with different intensity levels of each.

My Style

Oftentimes your behavioral style can be observed at a fairly young age. When I was 11 years old, I missed the bus going to school one day. The school was about two miles away and I had plenty of time, so I started walking.

Along the way I passed a fuel station with a small store attached to it. My eye caught some awesome looking lollipops – big, red, strawberry-flavored suckers. They only cost a nickel (five pennies) so I bought four or five of them and continued on to school. When I got there, a friend saw what I had and asked me if he could buy one. I said sure he could – for a dime (ten pennies). He bought it right away! That day I sold all the lollipops except for the one that I kept for myself . . . and I saw a great business opportunity.

The next day I decided to walk to school again, and this time I bought a dozen lollipops at the store. I sold them all before school was done for the day. I did this the next day, and the next… for almost a month. I was very happy with my margin and the money that I saw growing from my lollipop enterprise.

That was my first experience in business, and it was obvious from that early time in my life that I was a “Go-Getter” behavioral style.

The end of the story had another lesson in store. After a month of great sales, the Principal called me into his office and told me I couldn’t sell candy to students on campus. I asked him why and he said it was a school policy. Then I asked him why it was OK to sell candy bars for the school fundraiser on campus but not sell other candy for any other reason. He basically told me that was the policy and I could follow it or be suspended. Thus, the last lesson I learned was about government regulation. The next business I started was NOT on campus.

Do you recall your first business experience? How has your own behavioral style helped or hurt your networking and referral marketing efforts? I’d love to hear your story.

15Dec2022

The Best Way to End a Conversationstring(34) "The Best Way to End a Conversation"

December 15, 2022

Ivan Misner

End a Conversation, exit lines BNI, Business Networking, Conversation 3

We’ve all been at business networking events where a conversation with someone takes much longer than we expected (or wanted). I am often asked about the best way to end a conversation in a networking situation. My answer is a simple solution with some easy options.

You can say, “It was really nice meeting you. May I have your card so I have your contact information? Thanks.” That’s it. There is no need to apologize because you want to go and continue networking, and you absolutely don’t want to say that you just saw someone else you need to talk to. You simply thank them after you get
their business card, end the conversation, and move on.
An option is to tell them what you liked about the conversation that you had together, or recap something from the conversation that you found interesting and then say the same thing from #1, “It was really nice meeting you. May I have your card so I can have your contact information? Thanks.”
If they say something during your conversation that makes you think of somebody you know who could be beneficial for them to meet, tell them about that person and offer to make an introduction. Then be sure to follow-up and do it! If the other person is also attending the event, you can make the introduction right then and there. It is always a good thing to be a “connector” at a networking event. Once those two are connected and in their own conversation, you can go network with others at the event.
One more option is: You may want to invite them to be your guest at another networking meeting that you regularly attend, such as your BNI® chapter meeting. This is a great opportunity to connect them to another network of professionals. It is also a good way for the two of you to meet again and continue to get to know one other.

What about “Exit Lines”?

Some people want more ways to end a conversation. There are many “exit lines” out there and I’ve seen a lot of them. I strongly recommend that you do not use them unless they are absolutely true. I offer three efficient exit lines that work whether you’re ready to wrap it up immediately or you have time for courtesies.

Remember to keep it simple and keep it honest.

I have to be home by “x” o’clock to have dinner with my family.
I have a deadline on a project, and I need to leave now.
It’s been nice to meet you, however, I need to go to the washroom.

You can use anything that is similar to these three suggestions, as long as it is true. If you really have to leave the event to do something, tell them so. And then leave the event.

Otherwise, you can simply use the solution in #1 above. It is an effective way to end a conversation without offending anyone at your networking events.

Follow-up Is Key

What you do AFTER you meet someone at a networking event is just as important as the initial conversation you have with them. I recommend the 24/7/30 Follow-up System:
Drop them a note, text, or email within 24 hours.
Connect with them on social media within 7 days.
Reach out to them within 30 days to set up a one-to-one meeting.
This approach helps you establish a powerful routine to make your networking efforts more meaningful and successful.

When it comes to ending a conversation at a networking event, remember that you don’t need to overthink it. Keep it simple. Be polite, friendly, and honest. Don’t make excuses and respectfully move on from the conversation. And of course, be timely and professional with your follow-up.

3Nov2022

Networking Education in Business Groupsstring(39) "Networking Education in Business Groups"

November 3, 2022

Ivan Misner

Business Groups, Education Coordinator, several BNI, Business Networking, learning, Networking Education 1

I think that all networking groups, as well as other types of professional business organizations, can benefit from regular networking education moments at their meetings.

I personally think one of the greatest volunteer positions in a BNI® chapter is the Education Coordinator role because you have an opportunity to pour into people about the things that you’ve learned. Especially for those who have served on the chapter’s Leadership Team and had some advanced training, or if you listen to the BNI Podcasts, and if you read books on business networking (I’ve written several), you can share helpful information to help all members of the group.

I designed the BNI Podcast episodes to be easily utilized as networking education moments for business professionals. They can be presented as a short summary, highlighting two–three tips or best practices. The transcripts, or portions of them, can be copied and pasted to a digital or paper document to hand out to all members and guests at the meeting. You can also play a short clip to emphasize the topic.

Immerse in a Culture of Learning

I once had an BNI Chapter Education Coordinator say to me, “I am in a chapter where the members just aren’t listening to the podcasts. And we, the leadership team, recognize that for a chapter to be successful, everybody’s got to be working off the same playbook, we’ve got to be together as a team.”

He told me his solution. The very first week in his role as the Education Coordinator he stood up and said to the group, “I basically have two choices as Education Coordinator, and I’d like your opinion on what you’d like me to do. One, you can let me know the topics that you’d like me to talk about, and each week I’ll do a short lecture on that topic. I’ll pull material from BNI podcasts, Ivan’s books, his blog, and I’ll talk about that content for you directly. Or two, we can have a dialogue. We can share ideas on what works and what doesn’t work. Which one of those two would you prefer?” He said he knew what the answer would be, and they all said, “Dialogue, please. We want to talk.”

He then told them, “Great, I was hoping you would say you wanted a dialogue. So in order for us to have an informed dialogue, we have to do the reading. We’ll take topics that you would like to talk about, I will assign a podcast, or a blog, or some material, for you to read or listen to on that topic for the next week. And if you have listened to the podcast, or read the material, you can talk.

If you haven’t listened to the material or read it, you can’t join the discussion. And we’ll know that you listened to it or read it because you’re going to have to quote something from it. For example – Dr. Misner said this and that on the podcast, or his guest, so-and-so, made this point. But if you haven’t listened to it, you can’t talk.” And they all agreed to do it.

How did it work? Well, because the members knew that they couldn’t be part of the dialogue unless they read or listened to the material, they went from a chapter where almost no one listened to the podcast on a weekly basis, to having almost 100% participation!

This is a great way to get engagement while sharing information that will help the membership in the group and out in the business world. It is a fantastic way to help the chapter immerse in a culture of learning.

The truth is, if everyone listens to or reads the material, and then you spend a few minutes talking about it, it’s so much more real. It is much more engaging than simply sitting there listening to a lecture. And actively participating in a discussion helps people retain the information better, making it more likely that they will use it in their everyday business networking activities.

24Oct2022

Don’t Do THIS at Your Networking Meetingstring(42) "Don’t Do THIS at Your Networking Meeting"

October 24, 2022

Ivan Misner

business networking meeting, Taking Notes BNI, Business Networking, Networking Meeting 2

Imagine yourself sitting in an important meeting with your biggest client when you get a text message. Would you stop listening to your client and completely ignore them so you could respond to the text?

What if you got a phone call . . . would you stop in the middle of your presentation as you were pitching your most important customer about your newest product in order to answer the call?

The answer to both questions is – of course you wouldn’t! That would be a blatantly rude move on your part, and it would put your most valued client relationship at risk.

So, why in the world would anybody even consider looking at their phone during a business networking meeting??

To be clear, a good reason for looking at it, picking it up, or using your phone in any way during any type of networking meeting does not exist!

One of the fastest ways to ruin your credibility and earn a reputation of being rude, unprofessional, and undeserving of referrals is to use your phone during a networking meeting. It virtually screams to your networking partners: I don’t care what you have to say because I have better things to do right now, and this meeting is unimportant to me.

If you want positive results from your business networking efforts, then that is the last thing you would ever feel about, or say to, anyone in your network. And yet, if you are using your phone during meetings with your referral network, I promise you–not only is that the exact message you are sending them, you’re also wasting their time and yours.

Click the short video for the story of what I actually heard during an online business networking meeting.

I couldn’t believe it!

Practice Active Listening

We all understand that there is a great deal of overlap between in-person and online networking. However, networking online only works when you are engaged during the entire meeting. You need to learn about your fellow members – their business, their best customers, and their target markets, so you will know how to recognize referrals that you can give to them. Effective networking and building strong business relationships both require active listening. To do that, you have to be fully engaged in every part of the meeting, giving all of your attention to whomever is speaking. Skip the multi-tasking, keep your focus.

Now, I do believe in taking notes. When someone mentions who a good referral would be for their products or service, and I immediately think of a person in my network, I’m going to write that down so I can follow up after the meeting.

Remember, great networkers go to networking events with the intention of building relationships. That means you need to be an active participant in the entire process to get any substantive results.

My recommendation is to check your phone one last time before your networking meeting . . . check that it is completely turned off and don’t turn it back on until you leave the meeting, whether it is in-person or virtual.
Remember, networking meetings and phones don’t mix!

3Oct2022

Ten Commandments for Business Networkingstring(40) "Ten Commandments for Business Networking"

October 3, 2022

Ivan Misner

communicate, Follow Up on Referrals BNI, Business, Business Networking 4

It amazes me the number of people I meet who are at the top of their game in the business world, and yet they struggle with confidence when it comes to networking meetings. I wonder how they find networking so difficult when they are remarkably impressive performers in other areas of business.

The truth is, there are a lot of reasons people struggle with networking. Sometimes it is just confidence, and sometimes it is a lack of experience, organization, or time management.

This led me to create my Ten Commandments of Successful Networking. These are step-by-step practical guidelines covering everything one needs to do to be a highly confident and successful business networker.

Ten Commandments of Successful Networking

Do Not Sell to Me. If we are trying to help one another get more business, you tell me your target market, I tell you my target market and when we are out in the world, we speak well of one another and refer one another. Do not try to sell to me – I’m your referral resource; you can sell through me to get to the people that I know. If I need your product or service, I will certainly call upon you. Don’t sell to me; build a relationship with me.
Understand the Law of Reciprocity. If I am sending business to you, please keep me top of mind. Giving me a new client is the best thank you I can receive, and I will continue working to find referrals for you when I know you appreciate me. The Law of Reciprocity is part of social capital theory and in BNI® it is our principle core value – Givers Gain. If you help me, I’ll help you, and we’ll all do better as a result.
Do Not Abuse Our Relationship. Sending me a bogus referral just to use me, my expertise, or my resources for free without asking permission first is the fastest way to lose my respect. Mutually beneficial referral partnerships are built on trust.
Always Be on Time. If we have arranged a meeting to get to know one another and strategize how we can refer business to each other, don’t be late. I dedicated this time in my schedule FOR YOU, and I respect you enough to be on time. I expect the same. Don’t reschedule our appointment unless it is absolutely critical.
Be Specific. Specific Is Terrific! Tell your referral partners, in a laser sharp way, how to refer to you. If you tell me your target market is “anybody” or “everybody,” that means nobody to me. The more specific you are, the easier it will be for me to find referrals for your business.
Take Your Business Seriously. As your networking partner, I need to know your intentions. If your company is a hobby business, it will be difficult for me to assist you. If it is a part-time business, you are limited in the time you spend working on your business, and also in the time you have working to find referrals for me. However, if you’re working your business part-time with a goal of making it full-time, I am there for you,100%. You must be 100% in your business in order for your networking group to feel comfortable referring you.
Follow Up on Referrals. When I send you a referral for potential business, please follow up with that prospect in a timely fashion– ideally within 24 hours. If you’re going out of town or will not be available for some time, a quick call, text, or e-mail to the person to let them know when you will be available will preserve your credibility AND protect my reputation in recommending you to someone I know and care about.

Communicate. If I do something that upsets you, inadvertently send you a “bad” referral, or cause you to have ill feelings toward me, please communicate with me as soon as possible. I may not be aware that I have caused a problem for you. If you tell me, I can try to fix it. Referral networking is about relationships. Clear, open, honest, and direct communication is the best way to build effective relationships with referral partners.

Protect My Reputation. Most people would rather die than risk their reputations. If I receive disparaging or derogatory feedback from a referral that I sent to you, it is as though you cut me off at the knees. Please do what you say you will do and live up to the ethical standards of your profession. Protect my reputation (and yours) by doing a good job.
Prepare for Success. If you really want to grow your business, then prepare to receive more business. Does your current business plan include the next steps for your company’s growth? I will move mountains for my networking partners to ensure they get referrals on a consistent basis.

Understanding and following these recommendations as a regular part of your business networking practices can help new and seasoned professionals network successfully. I’d love to hear your thoughts.

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