Networking | Dr. Ivan Misner®

3Mar2008

Networking Globallystring(19) "Networking Globally"

March 3, 2008

As the 2nd annual worldwide celebration of International Networking Week (www.InternationalNetworkingWeek.com) wound to a close earlier this month, I found myself being reminded of how important it is to pay attention to some basic networking practices when networking internationally.

First of all, you need to make sure you are building a personal network of trust no matter what geographic location you are in. If you want to build relationships that generate referrals, you have to take the time to gain trust and credibility within your network.

Here are a few basic networking lessons you should keep in mind when building relationships with foreign—and local—businesses:

Whether you like it or not, you do become part of a network, so make sure you leave a good impression.
Maintain and cultivate your network—even if only by sending holiday cards every year. Encourage people to visit and stay with you whenever they’re in your area.
When seeking to use your network for information or advice, try to empower individuals in you network to feel that by helping you they’re helping someone else.
Be prepared to quickly build rapport and reinforce the positive expectations people have been given by their contacts.
Be cross-culturally aware. There is a great website that helps people be aware of cultural differences that I highly recomend. It’d called www.ExecutivePlanet.com and I use it before traveling to almost any country around the world.

The value of having your personal network of trust applies wherever you operate. It’s particularly valuable in areas such as the Far East, where the culture of the community requires you to take time to build a trusting and mutually respectful relationship first.

25Feb2008

So, You Know How to Network…But Do You Know How to Sell?string(62) "So, You Know How to Network…But Do You Know How to Sell?"

February 25, 2008

Ivan Misner

Ivan Misner, Marketing/Sales, Networking, Referrals 4

Sell is not a four-letter word. OK, it is a four letter word, but you know what I mean. …It’s not a “bad” word.

I can’t tell you how many times I’ve run across businesspeople over the years who are fantastic networkers, but they think that just because they know how to network, they don’t need to know how to sell. They think that people will like them, and then their products or services will sell themselves. This kind of mentality is unfortunate because people who think this way may be leaving business on the table.

Anybody who’s experienced and successful in referral marketing will tell you that sales skills are needed in every part of the referral marketing process–not just in closing the sale with the prospect.

From the very beginning, you must sell yourself to your potential referral source. A referral is not a guaranteed sale; it’s the opportunity to do business with someone to whom you’ve been recommended. You still have to close the deal. You have to make it clear that you know how to sell, and that you can and will provide the products or services you’re expected to provide. If you can’t make that first “sale,” your potential referral source won’t become your referral provider.

Beyond selling yourself to the referral source, you have to sell yourself to the prospect to get that first appointment. Then, once you’ve made the appointment, you have to persuade the prospect to buy your product or service. This is the part that usually comes to mind when you hear the word “sell.” However, in referral marketing, closing the deal with your prospect is neither the beginning nor the end of the selling process. The sales process is all about keeping an ongoing relationship with the client or customer. This is something that the best referral marketers know and understand.

19Feb2008

A Networking BFO (Blinding Flash of the Obvious)string(48) "A Networking BFO (Blinding Flash of the Obvious)"

February 19, 2008

Ivan Misner

BNI, Ivan Misner, Marketing/Sales, Networking, Networking Prep, Referral Institute 2

Trey McAlister, a certified trainer/coach with the Referral Institute and a BNI director in Northern California, was commenting to me the other day on a huge BFO (Blinding Flash of the Obvious) he had about how and why professionals often become disillusioned with networking. Trey said he realized that many professionals go into networking events ignoring one of the principal “commandments” of networking, either by having the wrong goal in mind or not having one at all, and they therefore end up leaving disappointed. It is extremely important to set a goal before you go into a networking event to give yourself a sense of purpose and direction.

Now, another thing that Trey and I both know is that the two main reasons people might not enjoy networking events are that they 1) feel like everyone is trying to sell them (which many times may be true) and 2) they go to the event hoping to find either hot prospects or a bona fide client. The problem is that when you combine numbers one and two, it creates a recipe for discomfort and dissatisfaction. Trey pointed out that if people actually take to heart the definition of networking I suggested awhile back, “Networking is helping others as a way of growing your business,” they would go into and come out of networking events with better focus and have a much better and more productive time.

When Trey mentions this BFO in presentations, he reminds members of his audience that if they are truly “business” networking, then goals are a must. “Whether it is the number of people you want to meet or the types of people you want to include in your ‘contact sphere,’ ” he says, “you will be more productive and satisfied with your efforts if you set a goal.” Also, if you make sure to focus on others and not on yourself when you participate in networking events, you will be paving the way to start building relationships, you won’t appear to be selling, and you will be more enjoyable to talk to.

One of the last things Trey mentioned was something he said he remembered from being mentored by Tom Fleming (master trainer for the Referral Institute). Tom taught him to always go into mixers with the business networking attitude as opposed to the social networking attitude. If you go into a mixer ready to socialize or chat, you might as well leave the business networking for another time. By deciding to go into a mixer with a business networking attitude, you’ll undoubtedly improve your chances not only of feeling more satisfied when you leave, but also of having a happy networking experience.

14Feb2008

Strategic Alliances The Right Way!string(34) "Strategic Alliances The Right Way!"

February 14, 2008

Ivan Misner

BNI, Collaboration, Ivan Misner, Networking, Referral Institute 2

I recently had two organizations attempt to create a strategic alliance with BNI and the Referral Institute and I got two substantially different results.

The first company (which shall remain nameless on the grounds that they like to attack folks they are not happy with via the media) contacted me and wanted to speak. With them, it was a case of “Glad to meet you—let’s get married!” I really got the sense that they wanted to GIVE me the privilege of sharing my entire database of contacts with them based on who they were and how amazing it would be for me to even say I had stood in their shadow! Get the picture?

When I explained our corporate philosophy and my own personal belief system that deepening a business alliance and building a relationship with a partner business took time and effort before getting to the “let’s get married” stage, they abruptly ended the call and (I’m sure) moved on down their computer-generated list of businesses to call.

By contrast, here is how the second organization (Brian Tracy University) approached the same issue: Brian Tracy himself contacted me and started the conversation by asking me what our company goals were. I shared with him that we recently set the goal of “92 in ‘12” (9200 chapters by the year 2012). The next statement from him was, “We want to help you achieve that!”

From there it went from “Glad to meet you” to “Let’s get to know each other better!” Brian shared with me that he had ideas that could help us achieve our corporate goal and help our members do better business at the same time. When I explained, as I had with company X, that our philosophy as a networking organization was one of mutual cooperation and that our belief was that anything that would really be of value to either of us would take time, he completely got it, respected it, and supported it!

If you want to create strategic alliance relationships with other companies, be sure you work with organizations that are willing to work with and respect your corporate culture and make sure to understand that the process takes time. If you do, you will have great success with a business alliance.

Our relationship has developed organically and we are now offering a very special program through the Brian Tracy University (www.briantracyu.com) to BNI members and Directors. I’m not sure how company X is faring; I don’t hear so much about their program anymore! I wonder why? Hmmmm . . .

Looking back over two decades of building an international company, I can clearly see that no one person or company brought something to the table that launched my company to the next level. Instead, it was the cumulative effect of many people, many strategic alliances, and many well-nurtured relationships with companies that were willing to get to know us and gradually, over time, build each other’s businesses through combined efforts. Each contact, each opportunity to reach out to each other and each mutually beneficial activity served as just one more spoke in the wheel as we rolled up the hill toward success.

11Feb2008

Fast Pitch Networkingstring(21) "Fast Pitch Networking"

February 11, 2008

Ivan Misner

Collaboration, Ivan Misner, Networking, Online Networking 4

In my monthly column on Entrepreneur.com, I wrote about the 5 Ways To Break Into Online Networking. One of the things I recommended was to “join one or more online networking communities.”

There are a lot out there to choose from today. However, there’s a new one on the web that I’m impressed with. It’s called FastPitchNetworking.com. It has many of the same features most online networks have, such as the ability to create a profile, and promote your website, blog and professional services, as well as the ability to connect with other people in the program. However, it has some new features, and one in particular that I really like.

The feature that I haven’t seen on any other online network is the press release program. Becoming a Premium Member for as little as $9 a month allows you to post unlimited press releases to 20 media outlets (including Google and Yahoo) that will promote your press release across the internet. Most PR services charge much more than that (believe me, I know).

In addition, members of the service have the ability to send their release to 50,000 members at a time and can choose which 50,000 to send to by industry, type and/or geography. FastPitch is the only social network that allows its members to leverage the network in this way.

I tried the service out just prior to International Networking Week to promote networking events around the world. Within a couple of days, I saw my press release promoted on Google and Yahoo!

I recommend my readers take a look. Click here for information on the press release program. For general information, click here.

I’d love to hear about your experiences on this online network and others.

8Feb2008

Small Actions Yield Big Resultsstring(31) "Small Actions Yield Big Results"

February 8, 2008

Ivan Misner

Collaboration, Emotional Intelligence, Giving, Ivan Misner, Networking, Social Capital

I was recently speaking to a friend of mine who is a partner in an international consulting and training company. We discovered that we had a mutual acquaintance who is a bestselling author and fairly well-known speaker. In our discussion, we found out that he had contacted each of us individually to see if there were any possibilities for some type of strategic alliance with our companies.

We were both open to that possibility but couldn’t see any immediate and dramatic way our companies could link up with his and do any specific projects at that time. We were both a bit amused to then discover that we were summarily “dropped” from his radar (no response to e-mails or other attempts to connect) after that.

We got the sense that he was looking for the one big alliance that would help his company soar to the next level. That realization started a conversation about the difference in the relationship between the two of us.

Ironically, we had had the same type of phone call with each other just 18 months earlier and came to the same conclusion. There was nothing on a grand scale we could do together at that moment. The difference, however, was the rest of the story.

We agreed to stay in touch. And then we did. We connected several times over the year and met in person on several occasions. During that time, we found some simple ways to help each other and gradually enhanced the relationship. This was in sharp contrast to the third party we had talked to individually. When this person didn’t see any big payoff, we became persona non grata to him. On the other hand, the two of us found ways to help each other gradually and, even to this day, continue to build on our relationship.

We came to the conclusion that most people who are successful at networking and creating strong strategic alliances view the process as a series of small actions taken with many people to create a long-term positive growth for your company. The process is more of a marathon than a sprint. Throughout the race, you form alliances and help each other over the long haul.

Have you had a similar experience? How has this played out in your business?

4Feb2008

Welcome to International Networking Weekstring(40) "Welcome to International Networking Week"

February 4, 2008

Ivan Misner

BNI, Collaboration, Ivan Misner, Networking, Self Development

Welcome to the second annual International Networking Week (February 4-8, 2008).

Last year, thousands of people from around the world recognized the week, and even more are expected to recognize it this year during hundreds of large events and thousands of small events and networking meetings all around the world.

International Networking Week is about celebrating the key role that networking plays in the development and success of business around the world. It is about creating an awareness of the process of networking. Not just any kind of networking, but what I call “relationship networking,” an approach to doing business based on building long-term, successful relationships with people through the networking process.

International Networking Week has now been acknowledged by several governmental organizations (including proclamations from the governors of Nevada and Maryland, a joint resolution of the California State Assembly and Senate, as well as the county supervisors for the County of Los Angeles).

If you belong to any networking groups, make sure to tell them that this is International Networking Week.

Below is an eight-minute video that talks about International Networking Week, 2008. Share the video with others and feel free to show it at your networking meetings during International Networking Week (you will note that I talk about this blog on the video):

Click Here for 2008 Video

Go to www.InternationalNetworkingWeek.com for more information. Share with us here on the bulletin board. What will you be doing to recognize International Networking Week?

31Jan2008

The Three Core Competencies of Referral Successstring(47) "The Three Core Competencies of Referral Success"

January 31, 2008

Ivan Misner

Collaboration, Connections, Ivan Misner, Networking, Networking Prep, Referral Institute, Referrals 3

Last week, I met with my business partner in the Referral Institute, Mike Macedonio (seen below with me), and as we were discussing what it really takes to drive your business by referral, one of the first things Mike mentioned was that the first core competency of referral success is the need for correct knowledge. It didn’t surprise me that Mike would start with this; after all, we co-authored Truth or Delusion–Busting Networking’s Biggest Myths which directly adresses what works and what doesn’t work in referral marketing. In the book, Mike paraphrases Mark Twain’s statement about having correct knowledge, which appropriately says something to the effect of, It’s not what you know that will stand in the way of your success as much as what you know which isn’t so.

The second core competency in successful referral marketing is to stay engaged with your referral marketing plan. This is harder than it sounds. Many referral marketing concepts are counter intuitive. It’s like telling a driver to turn into a skid. This is not the natural reaction. Even when the driver understands it’s in his best interest to turn into the skid, it’s only when he does it that he learns how it actually works.

Referral marketing is the same way. When we’re going out looking for more business, it’s natural to look for qualified prospects and approach them. However, referral marketing shows us that we will be even more effective if someone who has a credible relationship with the prospect sent them to us. We understand this is in our best interest, however it may not be our natural reaction.

So, how do you get the business owner to network in a way that may not come naturally? Some of the solutions Mike and I discussed are to:

* Stay connected to blogs and podcasts on networking
* Participate in networking groups
* Get involved in ongoing referral trainings

The first two core competencies, obtaining correct knowledge and staying engaged with your referral marketing plan, apply to any personal or professional development programs and it is important to keep in mind that though they may be “simple,” they’re not “easy.”

The third core competency, implementing a system to train your network on how to refer you business, is the missing piece that most business people do not have in place to create referral success. No matter how brilliant you are in referral marketing, or how skillful you are in “leaning into the punch,” if your referral partners are inadequate your results will be insufficient.

Mike gave a great football analogy for this. He said, “What if Tom Brady, the most successful quarterback at this time, were to get on the field with a team that was lacking skills and knowledge of the game? Tom Brady would be throwing perfect spirals to players who can’t catch and don’t know their assignments. It wouldn’t take long for Tom to recognize that he’s better off just keeping the ball and running. This could be equated in business to direct prospecting. It is hard work for short yardage.

So, what can we learn from this? That if you make the three core competencies a priority, you will not only be on the right track for referral success, you will also be gaining much more “yardage” from your efforts!

What has your experience been and/or how do you think you can apply these ideas to your business?

27Jan2008

The Speed of Truststring(18) "The Speed of Trust"

January 27, 2008

Ivan Misner

relationships Author, Book, Ivan Misner, Networking 4

I’m in Cancun this week, participating in the Transformational Leadership Council (a network of transformational trainers and profesionals started by Jack Canfield in 2004).

I had an opportunity again to hear my friend Stephen M. R. Covey speak about his book, The Speed of Trust, and it reminded me just how much I love this book and why it is so important to networking.

During his presentation, he told how Warren Buffet bought a company from Wal-Mart in one single meeting of two hours. Both parties shook hands and, 29 days later, Wal-Mart had its money. In Buffet’s annual report he said; “We did no due diligence. We knew that Wal-Mart would do what they said, and they did.”

In this day and age of long contracts and huge legal bills, this sale was done quickly because there was high trust on both sides. The result was a deal done in less than a month, saving millions of dollars.

Trust is the most compelling form of motivation. Covey spoke about “Three Key Ideas” to move at the speed of trust:

There is a compelling business rationale for trust. It affects cost. There are economic benefits. High trust is a divedend and low trust is a tax. When trust goes down, speed goes down with it. When trust goes up, speed goes up and costs go down. This is a dividend, a high-trust dividend. Trust is a qualitative and quantitative factor. Nothing is as fast as the speed of trust.
In today’s new global economy, the ability to establish trust is key to every organization. We are interdependent. In a cluttered world, trust helps you cut through the clutter. It is a performance multiplier. When people trust you, everything else you do is enhanced.
Trust is a competency. It is something we create and can get good at. It all starts with self-trust and personal credibility. Are we behaving in a way that builds trust and transparency? Are we keeping commitments and talking straight?

One of the best ways to obtain trust is to extend trust. When trust is reciprocated, it moves faster.

Covey ended his presentation by asking, “Are there people that you work with that you could extend trust to who you can make a profound difference for?” Now the key is to follow your conscience. Develop relationships and extend trust.

I love Covey’s book and I highly recommend it to anyone wanting to build and improve his or her personal network.

Shown in photo – Stephen M.R. Covey, Ivan Misner and Greg Link (Covey’s business partner at Covey-Link).

24Jan2008

Business Networking Trends (Part 3): Small Companies vs. Largestring(62) "Business Networking Trends (Part 3): Small Companies vs. Large"

January 24, 2008

Ivan Misner

Ivan Misner, Networking, Referrals, Social Capital

Here is the final installment of my thoughts about trends in 2008 for business networking.

Small companies will continue to have the edge over big companies relating to business networking.

For the most part, big companies are clueless about building sales through the networking process. They continue to teach salespeople traditional methodologies while relying heavily on advertising to create buzz. Mind you, there’s nothing inherently wrong with these strategies. The problem is–big companies don’t effectively incorporate referral marketing into the process.

When it comes to developing social capital and the networking process, small business is king. Big business is slow to move out of the mindset of splashy ad campaigns, big dollars spent on traditional marketing and the “same old, same old.”

If big business does ever get it, however, it is likely to run over the little guys. Big business will learn how to develop social capital and will teach its people how to do true relationship marketing. Most big business is just a notch or two above the universities in the “you can’t tell me anything new” department. For now, there are only a few forward-thinking big companies that consistently apply these concepts (and I mean very few–I’m working with one large insurance company that may be an exception). For the rest, it is a trend to watch for in the distant, distant future.

The trends I’ve talked about in my last three blogs are not just an American phenomenon but an international one. The introduction of “International Networking Week” is a prime example of how this approach to doing business is growing worldwide.

Small business development through the process of building social capital will continue to grow in the global market we are currently experiencing. No one has a crystal ball, but based on what I’m seeing and what I’ve seen in the past, I believe these are some of the key things to look for relating to networking and referral marketing over the next few years.

17Jan2008

Business Networking Trends (Part 1): Online Vs. Face-to-Facestring(60) "Business Networking Trends (Part 1): Online Vs. Face-to-Face"

January 17, 2008

Ivan Misner

BNI, Collaboration, Connections, Ivan Misner, Networking, Referral Institute, Social Capital 13

Several emerging issues and trends surrounding the process of networking are being created out of the need to find an effective way to develop business for entrepreneurs and salespeople in this new century. Over the next few blogs, I will address three of the most prominent trends that I believe will become more important in the coming years. Here is the first one:

Online and face-to-face networking will both continue to flourish.

Iâm a proponent of online networks such as Ecademy.com and others. I think they will continue to grow successfully and help many of their members. However, they are not the final answer to business marketing or to networking. They are another great tool for people to connect with others (especially outside their local geographic area).

On my Referrals For Life blog, someone recently said: âI donât know that it is true anymore that referrals are about relationships.â? He went on to say, essentially, that technology is changing the rules and that just participating in a website will be good enough. Well, in one word, Iâd have to say, “wrong.”

Referrals are and will be, for the foreseeable future, all about relationships. Whether they are relationships built online or face to face, they will still involve relationships. People refer people they know and trust. They will not regularly refer someone just because he or she is listed on a website. Thatâs called advertising, not networking.

Online networking works, but relationships must still be part of the process. Using the internet to exchange ideas, share knowledge and increase your visibility will be imperative in the coming years. Virtual networking is catching on in many circles. Some people involved in face-to-face networking feel threatened, as if online networking were going to replace their tried-and-true system.

Those who foretell the demise of face-to-face networking fail to note one important thing: the facts. Face-to-face networking groups continue to expand. The growth rate of my own referral networking organization, BNI, bears this out. Since the internet first became popular in the mid 1990s, BNI has experienced more than a 1,000 percent growth rate. That is not a typo.

Technology flattens the communication hierarchy and provides opportunities to improve your networking efforts–not replace them. I believe people who understand this will begin to use technology effectively–without replacing relationships–to take their marketing to new levels in the years to come.

1 … 66 67 68 69 70