Entrepreneurial Enterprise Archives - Page 4 of 5 - Dr. Ivan Misner®

Audit Your Activities — “Navigating the VCP Process(R) to Networking” Series

TR Garland (pictured with me in the photo below) is a friend of mine and co-author of one of my most recent #1 best-selling books called “Building The Ultimate Network.”  He’s also considered a top trainer for the Referral Institute. 

For some time now, we’ve both observed a need to drill down on one of the most important and foundational concepts to networking – The VCP Process®.  Five months ago, we started a much-anticipated 12-part monthly series of blog posts which addresses this and contains some very timely information for networkers across the globe.  Today, we’re proud to share with you Part 5 of the series.  Enjoy.

 

AUDIT YOUR ACTIVITIES
(Part 5 of 12 of the “Navigating The VCP Process® To Networking” Series)

In Part 1, Part 2, Part 3 , and Part 4 of this series, we introduced and re-introduced the concept and steps of The VCP Process® to Networking for our readers through brief anecdotes, relevant comparisons, and sometimes even humorous situations.

Today, we’d like to share with you one laser-focused Power Habit that you can use on a weekly basis to increase the number of referrals you receive. And, that Power Habit is based upon the following underlying Success PrincipleIt’s not always about the ACT of the ACTIVITIES that one should focus on. It’s the ANALYSIS of those ACTIVITIES that produces your greatest results.

A close friend of ours, Jim Cathcart (www.Cathcart.com), is listed in the professional Speaker Hall of Fame and is a very well-known author and speaker on the topic of Sales.  In fact, for 3 years in a row Jim has been selected as one of the Top 5 Speakers on Sales & Service.  So, I guess what we’re saying is that we believe “Jim knows his stuff!”  And in a recent conversation, he said: “Things that are measured tend to improve.”

It got us thinking that nothing could be truer, especially in the process of getting referrals.  Many networkers actually become Referral Institute clients because they want the trainers to hold them accountable for their weekly actions so that they get improved results.  We actually steer them towards an amazing online referral tracking tool called Relate2Profit (www.Relate2Profit.com) to help them hold themselves accountable.  But for today’s conversation, let’s take baby steps.  Let’s talk about something you can do with tools you already have at your disposal…a pen and your Daily Planner.

Our focus is measuring your weekly activities and how they relate to moving people in your network through The VCP Process® all the way from Visibility through Credibility to Profitability.

Here are the recommended steps:

  • First thing every Monday morning block off 5 minutes.
  • Write down the names of 5 people who you want passing you steady referrals.
  • Next, in your Daily Planner block off a 2 minute segment of time for each of the 5 days of the week.
  • Then, during each of those separate 2 minute segments choose 1 of the 5 people who you want passing you steady referrals.
  • Finally, TAKE ACTION by doing something to help YOU move that person (who YOU chose) through The VCP Process® to networking on your behalf.

For example, if you are only at Visibility with 1 of those 5 people, what can you do in those 2 minutes to help you move to Credibility with them?  Or, if you are only at Credibility with 1 of those 5 people, what can you do in those 2 minutes to help you move to Profitability with them?

At a loss for ideas on what you can do in 2 minutes to help compel someone to pass you referrals?  Here’s a brief list of activities that you might want to consider:

  • Search the web for an article relevant to their professional (or personal) goals and email it to them.
  • Go to their Facebook timeline or LinkedIn profile and comment on one of their recent posts to show that you care about what they care about.
  • Send them an email acknowledging that you’re aware of who an ideal client is for them…and let them know you’ll continue to be on the lookout.
  • Call them up and invite them to accompany you on a meeting you already have scheduled with a prospective client of yours.

As noted above, this is a recommended series of actions that we suggest you implement on a weekly basis.  If you do, the COMPOUND EFFECT of these weekly Power Habits will deliver you massive results in the medium and long term with your business relationships.

If this seems too simplistic to you right now, please take special note of the following.  In a recent survey over a 12 week period, when asked if they REGULARLY dedicated just 2 minutes for each of the 5 days of the week to perform ANY of the above recommended actions towards staying “top of mind” with prospective Referral Sources…less than 50% of the respondents reported that they did not.

This means that people have identified key Contact Sphere Professionals who should be passing them referrals.  BUT, they go weeks and weeks without performing small actions to compel these people to pass them referrals or even to stay top of mind!

Where would you fit into this survey?

In closing, we’d like to recommend you consider that the above Power Habit that can be performed is actually only 15 minutes of your work week.  If you work a standard 40 hour week, it’s less than 1% of your time investment for that week.  We believe that there should be no excuse for not dedicating 1% of your work week to “staying top of mind” with prospective Referral Sources.  Do you agree? 

We thank you for reading today’s post and extend an invitation to be on the lookout for next month’s contribution to this series – Part 6 called “The ABC’s of Business Networking”.

Networking in Thailand, Malaysia, or Japan?–Dos and Don’ts to Note

Understanding cultural differences when doing business and networking around the world is  becoming increasingly important in this global society (click here for an explanation).

On a related note, I posted a blog entry a few weeks ago outlining valuable tips from top networking experts in China and Vietnam which will help people traveling to those countries to position themselves for the most successful outcome when networking and doing business there.  I promised that I would revisit the topic of what to do when preparing to network in Asia by posting another blog specifically offering advice on networking in Thailand, Malaysia, and Japan–today I am following through with that promise.

Thai and Malaysian business networking expert Avryl Au (pictured above) has a number of important recommendations for networking and conducting business in Thailand and Malaysia:

  • When doing business in Thailand, they do not shake hands.  Instead, they put their hands together (palm to palm) and place them just in front of their face, close their mouth, and bow slightly.  It is acceptable for foreigners to do the same.
  • In Malaysia, Au says that the handshake is the official way to greet, but after that you put your right hand on your heart.  Westerners generally have a firm handshake.  However, in Malaysia the handshake is generally softer.  This is not a sign of weakness.  It is simply the cultural norm.  Again, foreigners may do the same.

Asato Ohno (pictured below), one of Japan’s leading experts on networking says, “One big difference between the Japanese culture and Western business culture is an activity the Japanese call ‘nominication,’ which means drinking communication.”  According to Ohno, “In order to build any kind of meaningful business relationship with your associates, you must go out for dinner and drinks.”

While this concept is not foreign in Western business culture, it is something that is much, much more important in Japan.  Ohno says, “People believe they can build deeper relationships with others more quickly by drinking together.  It is almost like having casual one-to-one meetings regularly.  Therefore, it is important for any business person to prepare and to plan for ‘nominication’ sessions in order to be successful.”

Finally, exchanging business cards is an essential part of most cultures.  In most Asian countries, after a person has introduced him or herself and bowed, the business card ceremony begins.  In Japan, this is called meishi The card is presented to the other person with the front side facing upwards toward the recipient.  Offering the card with both hands holding the top corners of the card demonstrates respect to the other person.

The business card is admired much more in Asian culture than it is to us here in Western society.  It is truly an extension of the individual and should always be treated with respect.  Things like tucking it into a pocket after receiving it, writing on it, bending or folding it in any way, or even looking at it again after you have first accepted it and looked at it are not considered polite and can insult your fellow Asian networker.

So, with that last recommendation, I think I’ll grab some business cards, set a reservation at a local restaurant, contact some business associates, and start a little nominication of my own. Cheers.

Women Are the New Men

 

I was recently interviewed by Bill Moller on the “First Business” news show about men and women in business. 

The host said that “women are the new men.”  It’s an odd statement, I know, but I promise that if you take a mere three minutes out of your day to watch this video clip of the interview, you’ll understand what he means by this and you might not think it’s such an odd statement after all.

I came to the conclusions I talk about in this interview based on many recent statistics and findings by esteemed business publications and I think it’s a really interesting and noteworthy topic.  What are your thoughts on this? Do you agree? Disagree? . . . I’d love to hear your input so, by all means, please leave your thoughts in the comments section.

Preparing to Network in Asia?–Consider These Valuable Tips

Last week I posted a blog about how cultural differences play into global networking and how understanding those differences becomes very important as we do business around the world.

On a related note, I’d like to offer some valuable tips I’ve picked up from a handful of networking experts in Asian countries–today I’ll focus on China and Vietnam and in the coming weeks, I’ll revisit this topic and provide the additional advice which comes from experts in Malaysia and Japan.

One of China’s leading experts on networking, Jihong Hall (pictured with me below), says that “face is everything to the Chinese.”  When used in a business context, face is not something you wash or shave but is something that is granted or lost.  In China the word face is an idiom for dignity, prestige, honor, respect, and status.  According to Hall, Westerners often make jokes at their own expense or at other people’s expense.  They have a knack for laughing at themselves.  However, she strongly recommends that you do not do this with the Chinese until you know them very, very well.  If you lose their face you will lose their business.

She has three additional recommendations when working with the Chinese:

  • When negotiating, always keep plenty in reserve.  A deal must be a compromise in which you have given enough ground so that their face is satisfied.
  • Numbers are very important to the Chinese.  For example, if your company was formed in 1944 it is best not to mention it because that means “death, death” in Chinese culture.  Even prices and fees charged are guided by the right numbers.
  • How you look is VERY important.  Dress well.  Smart, casual dress is fine; however, wear stylish clothes.

Vietnamese business networking expert Ho Quang Minh (pictured above) also recommends that you look formal when doing business in Asian countries.  He says:

  •  Westerners should be aware that some Asian businesspeople may talk less because they do not feel comfortable speaking English.  Don’t assume that they are not highly successful or that they are not driven business professionals simply because they come across as quiet or reserved.
  • Discuss business over a meal.  Do not go straight to the point at the first meeting.

What do you think of this advice–do you find it helpful?  If you are a networker in Asia or commonly network in Asian countries, what has your experience been?  Do you have any insights to share?  Please leave your thoughts in the comments section.

 

 

The #1 Question You Should Be Asking Yourself

It’s a given that we all want to be happy and successful in whatever career path we choose to follow–but how do we get there?  The path may be different for each one of us, but the #1 question we should be asking ourselves in order to set out on the correct course for achieving happiness and success is the same for each of us . . .What is my passion?

In this video, presented by Applied Transformation, Inc., I talk with Roger Green about the overwhelming importance of identifying your passion, following your passion, and then always looking for opportunities within that passion.

What is your passion?  Have you identified it yet?  If so, are you currently following it?  If not, what are some ways you can think of to change course in order to start following your passion?  Remember, it’s never ever too late to start following your passion. 

I’d love to hear your comments about this topic and what your experience has been related to it–please leave your feedback/thoughts in the comments section . . .

Visit WorkingOnIt.com and Build Business with Systems

In this video, Michael Gerber and I discuss one simple idea: SYSTEMS.

I used Michael’s ideas about systems to build my business and as a result, my networking organization has grown to over 6,000 chapters in 50 countries around the world.

Watch this video to find out more about building business with systems and about Michael’s new website www.WorkingOnIt.com–a fantastic resource for business owners and entrepreneurs around the world.

Entrepreneurial DNA

One of the reasons I am so endlessly passionate about business networking and finding new ways to inspire the growth of businesses around the world is because I absolutely love surrounding myself with people who exude the entrepreneurial spirit.

As children, we have the sense that “the world is our oyster,” so to speak, and that anything is possible.  Unfortunately, over time, many people lose this sense of wonder and adventure and the accompanying faith that anything is possible.  Entrepreneurs, however, never lose this open-minded outlook about opportunities and possibilities and we have a constant desire to make a unique mark on the world.  This is why I am continuously inspired by the entrepreneurs I meet in my travels across the globe and why I will continue to focus much of my effort on encouraging and supporting entrepreneurial enterprise in much of what I speak about and write about.

So, when I recently read a book called Entrepreneurial DNA written by Joe Abraham, Founder of the BOSI Performance Institute, and realized what a powerful tool it is for entrepreneurs, I couldn’t wait to share it.  I was so impressed by the content that I endorsed it as the ultimate roadmap to building a thriving business and life as an entrepreneur.  I would like to encourage entrepreneurs in every part of the world to read this book because I believe it offers tools to optimize your entrepreneurial business endeavors that you won’t find anywhere else.

Joe has outlined a breakthrough entrepreneurial profiling system called the BOSI system which empowers entrepreneurs to align their business to their unique strengths because, clearly, all entrepreneurs are not the same.  As the inside cover of Entrepreneurial DNA states:

Entrepreneurial DNA proves the simple but critical fact that not all entrepreneurs are cut from the same cloth.  After all, nobody would put Donald Trump, a multilevel marketer, and the owner of a local pizza parlor in the same category.  Everyone possesses unique entrepreneurial “DNA”–and discovering yours is the critical first step to success.

To help you build a successful business or optimize results within your current business, serial entrepreneur and business strategist Joe Abraham has developed the BOSI system–a simple, structured process for determining your own entrepreneurial tendencies, strengths, and growth areas.  With the BOSI system, you can create a strategic plan mapped to your entrepreneurial DNA that will improve all aspects of your business and leadership journey. (The) system provides four entrepreneurial categories that people fall into.  Which type of entrepreneur are you?

Builder:  Strategic, always looking for the upper hand
Talent: creating scalable business ventures

Opportunist:  Speculative, always in the right place at the right time
Talent: making money fast

Specialist: Focused, in it for the long term
Talent: providing exceptional client service

Innovator:  Inventive, with a desire to make an impact
Talent: creating game-changing products

If you are an entrepreneur, you owe it to yourself and your business to read this book–you’ll thank me later. 🙂

To learn more about Entrepreneurial DNA, CLICK HERE.

To order the book through Amazon, CLICK HERE.

To order the book through Barnes and Noble, CLICK HERE.

FREE Webinar with Michael E. Gerber!

 

I’m excited to extend a very special opportunity to all BusinessNetworking.com blog readers to attend a FREE webinar that I am hosting on October 28th which will feature my good friend, renowned business expert and author of The E-Myth, Michael E. Gerber.

To get full details on the webinar, CLICK HERE and watch the short video where Michael and I explain the invaluable business insight you’ll gain by attending the event–it will undoubtedly help you to build your brand and grow your business.

Space for the free webinar is limited so, after watching the video, be sure to CLICK HERE TO REGISTER for the October 28th event and reserve your spot–I’m looking forward to having you join us!


BNI Business Index 2nd Quarter Findings–Leaner and Meaner!

The BNI Business Index is a website that was created to consistently gauge the ever-changing economic state of business based on quarterly global survey results of retailers, service companies, and manufacturing companies all around the world.


The statistics gathered from the survey results are intended to keep small business owners, entrepreneurs, and companies, as well as the media and the general public, educated and informed as to the changing state of the global business economy and the current business trends that become apparent over time.

The findings for the 2011 2nd Quarter BNI Business Index are in and they continue to look promising. Over 1,700 people responded to this survey and for the third quarter in a row, we see a rise in the index relating to how business is doing today compared to a year ago. According to the survey, 70.4% of the respondents believe that business is growing (58.1%) or growing substantially (12.3%) compared to this time last year. Only 5.4% felt that business was declining (4.6%) or declining substantially (.8%) compared to this time last year.

This quarter there were four themes that seemed prevalent:

– Being Leaner & Meaner
– Networking
– Having a New Focus
– Government Regulations

One survey respondent best summed up the “leaner and meaner” theme by stating that his business was  becoming “leaner, keener, and meaner!”  Another person stated that they had “adapted to the business environment and things have ‘stabilized’ as a result.”

Get the full 2011 2nd Quarter BNIBusinessIndex.com Survey Report by CLICKING HERE.

TAKE THE CURRENT BNIBusinessIndex.com Survey by CLICKING HERE NOW and GET A FREE 6 MONTH SUBSCRIPTION TO NetworkingNow.com!!

What Does ‘Overnight Success’ Mean to You?

[tube]http://www.youtube.com/watch?v=pfv-fmNBLek[/tube]

During the course of the past two decades, I have had the privilege and honor of giving many keynote presentations and participating as a featured speaker at events across the world.  I have a great passion for public speaking and I feel very fortunate that organizations and associations continue to invite me to present at events internationally.

As a speaker, it is important to have a speaker’s reel video to send out to organizations who are considering you as a presenter at an upcoming event.  I recently enlisted Marrick Production Services to create my new speaker’s reel (click on the play arrow above to view it) and during the production process, I got to thinking about the different speaking engagements I’ve done and it struck me how many times I’ve heard people marvel at how amazing it is that I achieved such remarkable ‘overnight success.’

Every time someone says this to me, I reply with a chuckle and something along the lines of: “Yeah, it’s great . . . and it only took over two decades of hard work.”
😉

The thing is, I’m not sure there really is such a thing as overnight success. I know it happens in the movies quite often but, throughout my years of traveling and networking,  I have yet to cross paths with someone who achieved any kind of significant success without putting forth a great deal of hard work and dedication (speaking of hard work and dedication, a BIG thank you goes out to Mark Ellensohn and Chris Higgins for the hard work and dedication they put into creating this video for me!).

I’d really like to get some feedback on this–what does ‘overnight success’ mean to you?  Do you think a person can truly achieve overnight success, or do you think that the road to ‘overnight success’ is a long one that’s paved with plenty of effort and discipline?

Leave your comments and let’s get a discussion going! If you or someone you personally know is living, breathing evidence of overnight success, I’m particularly interested in that story (sometimes being proven wrong can make for very interesting content in speeches!). And, by all means, I’d also love to hear what you think of my new speaker’s reel!

Michael Gerber’s Key to Business Growth: “Working on It”

[tube]http://www.youtube.com/watch?v=cZInadxrKQ0[/tube]

In this video, my friend, The E-Myth author Michael Gerber, talks about his new website — www.WorkingOnIt.com — which is devoted to helping entrepreneurs grow business and achieve success.

I wanted to spread the news about this great educational resource because I am a firm believer in Michael’s strategies and philosophies for business growth.  I built my networking organization around some of the key philosophies that Michael wrote about in The E-Myth and I know that is a large part of why my business has grown globally into what it is today.

So, after you watch this short video clip, be sure to check out Michael’s new website and then, if you have a minute, please come back and leave a comment to let me know what you think.

PLEASE NOTE:  Although Michael’s new website, www.WorkingOnIt.com, makes mention of BNI and addresses “BNI friends,” the website and the educational information and offers it contains are open to absolutely everyone–including BusinessNetworking.com blog readers and the general public as a whole.

Recognizing ‘Innovativity’

This is the final guest blog in the three-part series featuring Frank DeRaffele’s article, “Creativity vs. ‘Innovativity.'” To read the beginning and the middle of the article, please CLICK HERE for Part 1 and CLICK HERE for Part 2.

“Creativity vs. ‘Innovativity'” by Frank J. DeRaffele Jr. ( . . . Continued)

Recognizing ‘Innovativity’

Innovation in our businesses is extremely important. New ideas help us to run our businesses more efficiently, market more effectively, sell with greater success, satisfy customers at higher levels and lead us to greater overall results–if we have a method to put them in place and the discipline to follow through with them.  Innovation gives us competitive advantage in many cases.  We just need to make sure we are not being deceived; we need to understand how to recognize the difference between Innovation and its evil twin, Creativity.

Quick steps to recognize  ‘Innovativity’ over Creativity in a great new idea:

1. Know what your current problem is and what you want as the end result in solving that problem.

2. Confirm that your new idea will help solve that problem DIRECTLY.  Don’t justify that it is a distant cause and effect relationship (e.g., “If I bring in a new target market they will buy more and I will increase my average dollar transaction.” — This simply justifies a non-direct creative idea).

3. It can be executed simply.  The best solutions usually are not complex.  Many times, the most complex problems have simple solutions.  As a Small Business Entrepreneur (SBE), it is rare that you have a complex problem.  It may be inconvenient, bad timing, a pain, or unexpected, but rarely so complex that it takes a complex solution.  Most very effective innovations are simple solutions.

My last words of advice on this topic: Don’t stop being creative!  Always be creative, just know how to use your creativity in the most effective and profitable manner.  Make your creativity spark your innovations so you may continue to build a very profitable and sustaining business.

This wraps up the final part of Frank’s article, “Creativity vs. ‘Innovativity'” and I hope you have all found it to be as enjoyable and beneficial as I found it to be.  Any comments you leave about the article, I’ll be sure to pass on to Frank so please don’t be shy–tell us what you think!

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