Being Your Own Chief Networking Officerstring(39) "Being Your Own Chief Networking Officer"

July 13, 2015
, , , Building Relationships, Business, Entrepreneurial Enterprise, Givers Gain, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Referrals, Word of Mouth 2


CNOIf you work in an organization, you might be familiar with the increasingly popular position of chief networking officer (CNO).  The CNO is the person who handles many corporations’ business networking and community-related activities.

The role or position of CNO has changed over the years.  In the past, the CNO could have been the person responsible for such things as running the computer or IT department, or for computer-related functions in general, because networking was thought of as a matter of electronic connection.  CNOs are still tech related, but these days we’re seeing many executives with that title in charge of completely different functions, handling business networking activities such as these:

  • Community Involvement
  • Internal & External Communication
  • Public Relations
  • Corporate Culture
  • Social Capital
  • Human Resources
  • Diversity
  • Client/Customer Relationships
  • Developing a Referral Marketing Campaign
  • Departmental Collaboration
  • Relationship Advertising & Marketing
  • Improving Vendor Relationships
  • Referral Generation Strategies

As you can see, a CNOs responsibilities can be broad and complex.  However, I believe the two key responsibilities to be: 1) relationship-marketing campaigns and 2) referral generation strategies.  These roles should be top of mind if you’re going to network like a pro.  They should be the principal job focus of a CNO.

First, however, let’s address the thought that’s probably just popped into your head: “Hey, I only have a ten-person (four-person/one-person) organization; how can I afford to hire a CNO to do my networking?

As business professionals ourselves, we remember what it was like trying to get a company off the ground.  And, quite frankly, there never seemed to be enough resources to take care of all the things the business needed, let alone hire an executive-level person.

What I suggest is to create a CNO position in your company and then fill it yourself, at least in the beginning.  In other words, don’t hire a CNO; just take on a CNO mindset.  How do you create a CNO mindset?  Start off by adopting a Givers Gain® attitude.  This gets you in the spirit of finding ways to help others while simultaneously overcoming the scarcity mentality that can creep into your thinking.  Lay out a clear set of guidelines and action items that you’d like the CNO to take, and then fill that position yourself for two or three hours a week.

 

Quantity Is Fine, But Quality Is Kingstring(37) "Quantity Is Fine, But Quality Is King"

July 6, 2015
, , , , Building Relationships, Business, Competition, Connections, Conversation, Follow up, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Referrals, Relationships, Sales, Strategy, Success 2
Photo Courtesy of stockimages at FreeDigitalPhotos.net

Photo Courtesy of stockimages at FreeDigitalPhotos.net

One of the biggest misconceptions I’m aware of in regard to networking is the notion that it’s an “all you can eat” affair.  In other words, people go to an event, work the room in an effort to meet everyone there, and then judge their success by the number of cards they accumulate.  Although I see a certain superficial logic in that, there’s only one fatal flaw with this kind of thinking:  it assumes that the more people you meet at an event, the more successful your networking efforts are–and that’s simply not the case.  Instead, the quality of the connections you form is much more significant than the quantity of connections you make.

Businesspeople unfamiliar with referral networking sometimes lose track of the fact that networking is the means–not the end–of their business-building activities.  They attend three, four, even five events in a week in a desperate grasp for new business.  The predictable result is that they stay so busy meeting new people that they never have time to follow up and cultivate those relationships–and how can they expect to get that new business from someone they’ve only just met?  As one of these unfortunates remarked to me, “I feel like I’m always doing business but rarely getting anything done.”

I certainly agree that meeting new people is an integral part of networking, but it’s important to remember why we’re doing it in the first place: to develop a professional rapport with individuals that will deepen over time into a trusting relationship that will eventually lead to a mutually beneficial and continuous exchange of referrals.

When meeting someone for the first time, focus on the potential relationship you might form.  As hard as it may be to suppress your business reflexes, at this stage you cannot make it your goal to sell your services or promote your company.  You’re there to get to know a new person.  A friend of mine told me something his dad always said: “You don’t have to sell to friends.”  That’s especially good advice when interacting with new contacts.

This certainly doesn’t mean you’ll never get to sell anything to people you meet while networking; it does, however, mean that you’ll need to employ a different approach.  Networking isn’t about closing business or meeting hordes of new people; it’s about developing relationships in which future business can be closed.  Once you understand that, you’ll stand out from the crowd with everyone you meet.

When you’re networking like a pro and treating new contacts as future referral partners, you’ll absolutely blow away any competitors who still feel compelled to meet as many people as they possibly can.  Why?  Because when you call your contacts back, they’ll actually remember who you are and be willing to meet with you again.

Don’t Know What You Want to Be?–Stick Your Tongue Out and Wave It Around . . .string(90) "Don’t Know What You Want to Be?–Stick Your Tongue Out and Wave It Around . . ."

June 11, 2015
, , , , , , Balance, Business, Conversation, Goals, personal story, Video Blog 1

In this video, I talk about the often difficult question of what it is we truly want to do in order to make a living and contribute to the world.

When my kids were young, I often took them to get ice cream as a treat. When they had trouble making a decision about which flavor they wanted, I told them that if they stuck out their tongue and waved it around, the answer would come to them.

As they got older and had difficulty deciding what they wanted to be when they grew up, I reminded them of their tactic for finding an answer to the ice cream flavor conundrum. In reality, I was simply telling them to experiment and feel things out, so to speak, in order to figure out what they were passionate about and what they would truly be happy doing.

The fact is, if you do what you love, you’ll love what you do.  I think it’s so important and it’s an important message for us as business people if we want to have a balanced life–a harmony, as I call it. 

So, what helpful things have you done when talking to kids or others in regard to what they want to be “when they grow up”?  Please share your experiences in the comment forum below.  Thanks!

Have You Created an Identity for Your Business?string(47) "Have You Created an Identity for Your Business?"

May 25, 2015
, , , Advertising, Brand Building, Business, Marketing/Sales, Networking, Networking Prep, Networking Tactics 5

If someone asked you what your business’ identity is, would you be able to give them a clear answer?  If not, now is definitely the time to give some thought to how you can create an identity and an image for your business that will work for you around the clock.  Why is this important?  Because, as Jeff Davidson, author of Marketing on a Shoestring says, “The age of the image is here.  From corporations to individuals, the imapact of image is irrefutable . . . the success of your business, whether large or small, often depends on how you position yourself and what you project.”BusinessIdentityQuestion

Positioning can help you create an identity and maintain a secure spot in the minds of those you wish to serve, and I believe the first step to positioning your business is deciding:

  • What you’re going to be
  • What you’re going to offer
  • To whom you’re going to offer it

The concept of positioning was actually popularized decades ago in the early 1980s by Al Ries and Jack Trout.  They observed, “In our over-communicated society, very little communication takes place.”  A company must create a position in the prospect’s mind, recognizing that the most effective communication occurs when optimally placed and timed.

Being the “first” remains one of the quickest and easiest ways to gain a position in someone’s mind.  Who was the first person to walk on the moon?  If you said Neil Armstrong, you are correct.  Now, name any of the astronauts who walked on the moon’s surface on the other NASA moon missions.  Not so easy, is it?  If you’re like most people, you probably have no idea.

When you are properly positioned, you save time because others quickly understand what your company represents and offers.  With positioning, each networking encounter, advertisement, message, employee, and every square inch of floor or office space contributes to the delivery of a consistent theme to the target market.

The identity you develop may be right only for you and for no one else.  You may become the leader in an emerging industry, or a highly successful alternative to the leading company.  You may be the only store open for twenty-four hours or the most exclusive shop in town, exhibiting wares by appointment only.  In the highly competitive, swiftly changing environment which we exist in today, creating an identity that sticks in the mind of others is no longer optional but essential.  

So, challenge yourself this week to do some research on creating an identity for your business.  Start by answering the three bullet point questions above, and then carve out time each day to spend time reading books on the subject or Googling articles on how to create a business identity, brand, and image.  There is an endless array of  helpful business articles available on the internet surrounding this topic.  If you simply spend the time to do the research, I’m willing to bet you’ll come up with a clear answer for people on what your business identity is within a week!

If you have already created an identity for your business, I’d love for you to share about it in the comment forum below.  Let us know what your business identity is and how you went about creating it–I’m very interested to hear your story.  Thanks! 

How to Combat the Fear of Failurestring(33) "How to Combat the Fear of Failure"

May 21, 2015
, , Adversity, Business, Entrepreneurial Enterprise, Fear, Motivation, personal story, Risk Takiing, Self Development, Success, Video Blog 4

We all deal with the fear of failure from time to time.  I know I certainly do.  It’s a part of life and it can sometimes cripple us to the point where we’re so afraid of failing at something that we’d rather not even try.  So, what can we do about it?  How can we move past it in order to achieve our greatest goals, dreams, and desires?

Well, the answer is simple.  We stop worrying about whether or not we are going to fail because–guess what?–we very well may and that’s okay!  It’s inevitable; we are all going to be successful at some things and we’re going to fail at other things.  The key is to refuse to define ourselves by our failures and commit instead to both learning from our failures and defining ourselves by our successes.

In this video, I tell a personal story about a time when I was virtually frozen in fear because I was so preoccupied with the prospect of failure, and I explain how it helped me to realize the key to combatting the fear of failure.  The fact is, if we always try, we can eventually win.  But if we let fear keep us from even trying, we will fail without a doubt.

Is there something that you currently want to accomplish, big or small, but haven’t attempted to start because you’re afraid of failing?  If so, make a list of one action you can take each day (no matter how small) for the next week which will help get the ball rolling and move you toward accomplishing what you want to do.  Then, when the week is over, repeat the process of mapping out and completing small daily actions every coming week–before you know it, you will have made real progress!

If you have a story about a time fear of failure stopped you from doing something, or a time you overcame your fear of failure and accomplished something important to you, please share it in the comment forum below–I’d love to hear from you!

James Barber–“The Networking Guru”string(52) "James Barber–“The Networking Guru”"

May 14, 2015
, , , , , Author, Book, Business, Conversation, Educational Resources, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Public Speaking, Referrals, Sales, Strategy, Success, Video Blog

Just last week at the BNI® U.S. National Conference in Savannah, Georgia, I had the opportunity to have a brief chat with James Barber, author of The Networking Guru.  In this video, I ask James to offer a suggestion or two on how networkers can stand out during weekly presentations in their networking group in order to increase their effectiveness at consistently obtaining referrals from their networking partners.

James reveals his top tip for helping your fellow networkers (i.e., your sales team) to focus and really narrow in on how they can refer you, and he tells a powerful story about a North Carolina business woman who used his top tactic and was so successful that he still finds it amazing when he thinks about the results she got.

Watch the video now to learn how you can stand out and be remembered in order to make it easier for those with whom you network to refer you.  I guarantee that if you incorporate James’ advice into your networking presentations and interactions, you will start to see a significant improvment in your referral marketing results and a noticeable increase in the amount of referrals you’re able to generate.

After watching the video, please share your thoughts.  And, if you’ve had previous experience using the tactic we discuss for generating more referrals, I’d love to hear how it worked out for you–please share your story in the comment forum below.  Thanks!

 

A Little Good Advice Can Go a Long Waystring(38) "A Little Good Advice Can Go a Long Way"

April 27, 2015
Building Relationships, Business, Conversation, Credibility, Networking, Networking Prep, Networking Tactics 2
AdviceHorn

Photo Courtesy of Stuart Miles at FreeDigitalPhotos.net

It’s no secret that we all want to do business with people whom we know and trust.  So, how do you build rapport and create trust with new contacts at networking events?  By offering value-added advice–solid, helpful information provided out of a genuine concern for another person.

Let’s say you’re a real estate agent talking with someone at a networking event who, although not ready to buy a home today, is heading in that direction.  You could say something like this:

Well, I know you’re not interested in buying a home right now.  But, when you’re ready to start looking, I highly recommend checking out the north part of town.  A lot of my clients are seeing their homes appreciate in the 10 to 20 percent range, and from what I understand, the city is thinking about building another middle school in that area.

See how it’s possible to offer some value-added advice without being too salesy?  A statement like this acknowledges that your prospect is not currently in the market (first sentence) but still demonstrates your expertise, so he will remember you when he’s ready to move.

This model works for consultants, CPAs, accountants, financial planners, coaches–just about anyone in a service-based industry in which knowledge is the main product. If you’re concerned about giving away your intellectual capital for free, look at it this way: few people are going to sign up to do business with you if they’re not sure you can do the job.  In the absence of a tangible product, you have nothing but your technical expertise to demonstrate that you have the goods.  And when you think about it, that makes sense.  Whenever you’re ready to buy an automobile, it doesn’t matter how much research you’ve done on a particular model, you’re probably not going to write your check until you’ve taken the car for a test drive.

The same is true for your prospects.  Give them a little test drive to show how it would feel to do business with you. If you’re a marketing consultant, give them a couple of ideas on how they can increase the exposure of their business.  Don’t go overboard; maybe offer a technique you read in a magazine or tried with one of your clients.  Just give them something they can try on to see if it works.

Not only will this open up a good conversation with new contacts while you’re out networking, if you play your cards right, whom do you think they’ll go to when they’re in need of your kind of service?  When it comes to building rapport and creating trust, nothing does it better than offering value-added advice.

Are You a ‘Cave Dweller’?string(37) "Are You a ‘Cave Dweller’?"

April 23, 2015
, Business, Networking, Referral Institute, Uncategorized, Video Blog 1

The concept of being a cave dweller stems from the idea that we wake up in the morning in a large cave with a big screen TV, we go out to our garage, get into a little cave with four wheels, we drive to our other big cave with computers, stay there all day, get back into the little cave, drive right back to the large cave, and we don’t get out and connect with people.

In this video, filmed at a recent Referral Institute® Conference, my good friend Mike Macedonio explains the ‘Cave Dweller Reality Check Sheet’ which you can use to make an hourly break down of your day in order to determine whether you’re spending too much time cooped up at home or in the office.  Mike recently filled out the sheet and his results gave him the eye-opening realization that even as a referral marketing expert, he was still falling into the trap of being a cave dweller!

So, watch the video, make your own Cave Dweller Reality Check Sheet, and find out whether or not you’re taking enough time out in the world to meet others, make real connections, and make a conscious effort to grow your business.  I’d love to hear your results so please come back and share them in the comment forum below.  Thanks!

In this video,

Where to Start When Starting Your Own Businessstring(46) "Where to Start When Starting Your Own Business"

April 13, 2015
, , , Business, Connections, Entrepreneur, Entrepreneurial Enterprise, Networking, Networking Prep, Networking Tactics, Recommendation, Uncategorized 2

I recently got asked a really great question: Where do I get connected with people who can help me open a business?IvanOldSchool

Though there is evidence that business is currently on the rise and the economy is moving in a positive direction, the recent downturn in the economy prompted many people who found themselves unemployed to tap into their entrepreneurial spirit and consider starting their own business.

This begs the question above–are there efficient ways to get in touch with people who can help you start your own business?

The answer is yes, and here are my three recommendations:

1) Go through your contacts and talk to people you personally know who have started a business. Set an appointment.  Let them know what you are doing and ask if they’d give you an hour of mentoring.  If possible, meet with them in person.  Show up with specific questions written out in advance.  Send them the questions prior to the meeting so they have a good understanding of what kind of information you’re looking for.  When you meet, focus on those questions, write down the answers, and stick to the time frame you promised.  If the conversation goes well, ask if you can meet with them in the future.  Follow this process with two or three people who have opened a business successfully.  I guarantee you will find this to be very valuable.

2) Find a business coach who has experience with start-up businesses. Hire them to coach you through the process.

3) Read, read, read!  There are a lot of books out there on opening a business. I have personally reviewed many of the books published by Entrepreneur Press on starting a business and they are excellent.  Go to EntrepreneurPress.com to see some of them.

I strongly encourage anyone genuinely interested in starting their own business to pursue the endeavor. I have owned my own business for thirty years (that’s a picture of me at top right, when I first started my company, BNI, and was running it from my house and garage with only one other employee in the mid ’80s) and it continues to be an amazing and fulfilling journey. I don’t think I would ever go back to working for someone else.

Who Cares about Your Business?string(30) "Who Cares about Your Business?"

March 30, 2015
, , , , , , Building Relationships, Business, Collaboration, Connections, Goals, Growth, Motivation, Networking, Networking Prep, Networking Tactics, Referral Incentives, Referrals, Relationships

Do you know who really cares about your business and wants to help you?  Realistically, there are only a few basic ways of motivating people to care about and help build your business.  Basically, it comes down to relationships and rewards.  

Photo courtesy of graur codrin at FreeDigitalPhotos.net

Photo courtesy of graur codrin at FreeDigitalPhotos.net

Some folks, usually friends or family, will simply want to help because they like you and want you to do well.  These people will be motivated by the relationship itself.

But in most other cases, the long term motivation to build your business is not based primarily on whether or not the other person likes you.  Business partnerships, including referral relationships, almost always include some form of mutual reward; typically in the form of social or financial gain.  Both you and your networking partner have something to gain, and you are both eager to help each other achieve it.

Some people are motivated by the potential for business referrals you can send, while others are motivated by the prestige and opportunities created by having a relationship with you.  Regardless of the underlying motivation behind them, relationships can take time to prove profitable in a substantial way, but that doesn’t mean they aren’t worth cultivating.  Ultimately, strong relationships will steer back opportunities because of the nature of networking itself and of the endless variety of products and services to which it can lead.

I firmly believe that most relationships will probably prove rewarding in the long term, even in cases where you don’t receive referrals in return.  There are a few super successful people to whom we send referrals who’ve never reciprocated with a referral back.  We’re motivated to continue helping them in any way we can simply because they will work with people we refer to them.  That makes us look good, because it’s very difficult for the average person to start a working relationship with these very successful, very busy people.

If we refer someone, it opens a door that might never have otherwise opened.  The new person that we are referring to our very busy friends or associates is the one who now goes out of his way to reciprocate.  That’s our motivation; helping our networking partners achieve their goals.  And, of course, in one form or another, it winds up coming back in some way.

What are some experiences you’ve had in which you’ve benefitted in some way or another as a result of truly caring about others’ businesses and helping them to grow and achieve their goals?  I’d love to hear your story/stories so please share your experiences in the comment forum below.  Thanks!

Has Your Business Mission Changed?string(34) "Has Your Business Mission Changed?"

March 19, 2015
, BNI, Business, Entrepreneurial Enterprise, Givers Gain, Growth, Referral Institute, Uncategorized, Video Blog 1

In this video, I answer the question of how the mission for my own business, BNI® (the world’s largest business networking organization), has changed over the last thirty years.

In every business, there are some things which remain constant and other things which become transformational.  The one thing which has remained constant in my  own business is the philosophy of the organization, Givers Gain®, which is inculcated into the core of the entire company worldwide.  The organization itself, however, has a transformational nature in that we are Changing the Way the World Does Business®.  This is probably the biggest example of how our mission has changed as we started out as a tiny fledgling organization in Southern California not realizing we would eventually become a huge global company.

After watching the video, I’d love to hear your thoughts as well as your ideas on how the mission in your own business has changed.  Please share your thoughts in the comment forum below.  Thanks!

Follow the Money Trailstring(22) "Follow the Money Trail"

March 16, 2015
, Advertising, Business, Collaboration, Conversation, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Referrals, Strategic Planning, Strategy 1

How many businesses would you say you’ve supported over the years by being a loyal customer?  Think about it, you could have been solely responsible for the new wing your veterinarian added to her office last year, just from all the money you’ve invested in your pet’s care over the last ten years.  For some businesses, not only may you have been a customer–you may also have recommended them to other people.  When was the last time those businesses returned the favor and helped your business succeed?  There’s a strategy I like to call “following the money trail” which shows you how to leverage the law of reciprocity with the businesses you have financially supported.

Before you read on and get deep into this strategy, go find your checkbooks–both personal and business.  I’ll wait . . . There, now that you have your checkbook(s) in front of you, it’s time to follow the money trail.  Scan your checkbooks for local businesses that you have paid.  You may notice regular expenditures, such as your hair stylist, veterinarian, physician, lawn care service, housecleaning service, dry cleaners, day care, pet resort, or grocery store.

First, let’s put this money trail into perspective.  Start by analyzing just how much you have invested in these businesses.  Get out a piece of paper and draw a table like the one shown below.

29PercentGraphReviewing these figures will help you realize just how much you’ve invested toward the success of some of your favorite businesses.  Staggering, isn’t it?  Now, what can you do with this information?

The law of reciprocity states that if I help you, you will, in time, help me in return.  I would venture to guess that most of these establishments have never been approached by their customers with a request of reciprocity.  What would you say to them?  How would they react?  Why bother?  You might wonder: What could a hairstylist do for me–or for a financial planner–other than style hair?

Seeking reciprocity begins with your willingness to ask the question.  Your request needs to be specific and needs to be supported by how much you have invested in their business over the last year or so.  Are you willing to approach your favorite businesses and ask them to support your business in some way?  If yes, let’s start with the example below and then consider what you could do for your business.

Example: Financial Planner Seeks Reciprocity from Hairstylist

First, the financial planner needs to take the hairstylist–let’s call her Joan–to lunch or coffee and engage her in conversation.

Financial planner:  Thank you for joining me for lunch.  I wanted to get some time with you away from the salon so I could talk with you about your business–and to ask for some help with my own business.  I’ve enjoyed being your client for the last five years, and I’m glad I was able to refer four other people to your salon who have become clients.  I wanted to ask if you might be willing to help support my business as well.

Joan:  I have very much enjoyed you as a client, and I really do appreciate your referrals.  What do you have in mind?

F.P.:  As a client, I receive your quarterly newsletter.  I see that you often have advertisements from community businesses.  Would you give me space in your newsletter for an ad for one year?

J:  Sure, but that would cost about $500 for the year.

F.P.:  I was hoping that you would give me the space for no charge in return for my past referrals and for being such a loyal customer, even after moving twenty miles away.

J:  I see your point.  No one has ever asked me to do anything like this before.  But it makes sense to me since you are actively supporting my business.  The least I could do is give you ad space.  Sure.  I’d be happy to help you.  Is there anything else you’d like me to do?

F.P.:  As a matter of fact, there is.  Could you leave one of my newsletters in your waiting area for your patrons to read while they wait?

J:  Of course–that would be no problem.

In this example, Joan was willing and able to help the financial planner expand her visibility.  Most people, once it’s pointed out to them, understand that the law of reciprocity goes both ways.  If they seem reluctant to help you, it’s time to reconsider your loyalty.  Should you continue to support someone else’s business when he or she flatly refuses to help your business in return?

As a client, you’re giving a lot to someone else’s business.  It’s not unreasonable to ask for something that supports your business in return.  Now think about your business and the businesses you support.  What can you ask of them?  Can you contribute to their newsletter?  Will they display your pamphlet?  Will they post your business announcements?  Can you leave a stack of business cards on their coffee table?  Will they pass out your business’ coupons to their customers at the register?  Will they sponsor your next event?

Make it a point this week to approach at least one establishment for help with promoting your business.  After all, when you follow the money you’ve spent on other people’s establishments, isn’t it about time some of it came back around to you?  Also, I’d love to hear about your experiences with this so please come back and share your thoughts and experiences in the comment forum below.  Thanks!

 

 

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