Is It Possible Your Follow-up Tactics Aren’t Doing You Any Favors?string(72) "Is It Possible Your Follow-up Tactics Aren’t Doing You Any Favors?"

March 31, 2014
, , , , Business, Follow up, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Sales, Strategy, Success, System 2

I once had an interesting conversation with an associate who was surprised that she’d gotten flak from a referral source for taking five days to follow up with a prospect that the referral source had referred to her.  My associate explained to me that she doesn’t like to follow up with prospects for four or five days because she doesn’t want the prospect to feel like she’s too eager.

I told my associate that I strongly disagree with her follow-up strategy.  My reasons why are outlined in the following paragraphs . . .

When building relationships, it’s always important not to let much time lapse without following up the first contact. Within twenty-four to forty-eight hours, send your prospect a note expressing your pleasure in communicating with her. It’s still too early, though, to send business literature or make any move toward sales promotion.

Follow up early, but don’t push beyond the prospect’s comfort level. Once the prospect has expressed an interest in your products or services, provide information about them, but don’t force it on her. Continue presenting your products or services, but avoid the hard sell. Focus on fulfilling her needs and interests. Your goal should be to keep your prospect aware of your business without annoying her.

Remember, to secure the long-term loyalty of your prospect and convert her into a customer, you must first build a relationship, and that relationship must develop through the visibility, credibility and profitability stages. It may take a while, but if you’ve selected and briefed your sources well, you’ll speed up the process.

Always, always, always remember to follow up with people, in any situation, at the very least within seventy-two hours. There’s a reason people commonly say that the fortune is in the follow up . . . when you follow up quickly with people, your reputation will benefit, your business will benefit, and eventually your pocketbook will benefit as well.

Do you have any unique and effective ways of following up which have helped you attain success consistently?  If so, I’d love to hear your tactics–please share them in the comment forum below.  Thanks!

Wealth Dynamics with Roger Hamiltonstring(35) "Wealth Dynamics with Roger Hamilton"

February 13, 2014
, , , , , , , , Building Relationships, Business, Connections, Educational Resources, Entrepreneurial Enterprise, Growth, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Productivity, Profitability, Recommendation, Referrals, Self Development, Strategy, Success, System, Video Blog 1

At a recent TLC Conference in Cancun, Mexico, I had the opportunity to talk with wealth expert Roger Hamilton to discuss the Wealth Dynamics system which Roger created to help entrepreneurs achieve ultimate success.  I took the Wealth Dynamics profile test myself and found out my wealth profile is that of a “Supporter,” which I found quite surprising yet very informative, helpful, and enlightening.

In this video, Roger explains how the Wealth Dynamics program can specifically help people who want to build their business through a referral-based marketing program.  Watch the video now to learn about how everyone is different in the way they form connections and how the Wealth Dynamics program can teach you to identify your best way of connecting with others through understanding your individual connection style, and also through pinpointing and understanding how other individuals would like to connect with you.

For more information on Wealth Dynamics, please visit www.WDProfileTest.com where you’ll find a complete explanation of the eight different Wealth Dynamics profiles and more.  If you take the test, I’d love for you to come back and share your results and what you learned from them in the comment forum below. Thanks!

4 Steps to Building an Effective Networking Programstring(51) "4 Steps to Building an Effective Networking Program"

January 27, 2014
, , , , , , BNI, Networking, Networking Prep, Networking Tactics, Strategy, Success, System 14

It’s often been said that “starting is the hardest part” of a project. Well, building your business through networking and word-of-mouth marketing is no exception.

Here are four things you can do to get your networking program off to a strong start:

1. Don’t be a cave dweller: Get out and meet people!

2. Know how to ask for the referral. Learn and develop specific techniques that will help you hone your ability to ask for the referrals you want.

3. Consciously select at least three business or networking groups to join in the next three months (chambers of commerce, community service groups, trade associations, strong contact networks such as BNI, etc.).

4. Develop a creative incentive to encourage people to send referrals your way (If you’re a music store owner, for example, you might send music tickets to people who refer business to you).

The bottom line is this: Get out there and make diverse contacts, be specific in your approach, and help others in creative and enthusiastic ways so they’ll want to refer you business!

 What are some specific ways that you approach networking? . . . What tactics do you have for making diverse contacts and helping others creatively and enthusiastically?  I’d love to hear your thoughts and I’ll send a free, surprise gift to the first ten people who respond to these questions in the comment forum below.  In order to ensure that you receive your gift, be sure to e-mail larry@bni.com with the subject line “blog comment” and your full contact information [mailing address and phone number (your phone number is required by the shipping company in case they need to contact you in order to deliver your package)]–I assure you that your contact information will not be shared or used for any other purpose than to ship your gift to you. Thanks in advance for your participation–I’m looking forward to hearing your thoughts!

 

Networking Strategy Advice from NetworkingNow.comstring(49) "Networking Strategy Advice from NetworkingNow.com"

January 9, 2014
, , Educational Resources, Networking, Networking Prep, Networking Tactics, Strategic Planning, Strategy, System, Video Blog 1

Today I’d like to share a video that I recorded a while back that is timelessly useful when it comes to creating a solid and effective networking strategy.  In the video, I outline the best way to find like-minded business professionals to network with and I explain the four different streams—or types of networks—which you should be sure to strategically build into your overall network.

This video comes from the educational video archive housed within NetworkingNow.com and it is just one example of the vast array of educational content offered on the NetworkingNow.com website—there are literally hundreds of business and networking downloads available in the site’s online library and you can access all of them for FREE for six months by entering the free subscription code given below.

The free subscription is a gift from BusinessNetworking.com and all you have to do is enter the code (“freesixmonths”) on NetworkingNow.com to gain access to the entire library of content!  Please note that you will be required to enter a credit card number on the site but you will not be billed for the free six month membership.  You will need to end your subscription if you don’t wish to be billed for the second six months.

Please leave a comment regarding your thoughts on this video and also letting me know what type of downloadable content you most like to access on sites like NetworkingNow.com:

  • Video?
  • Audio?
  • PDF Articles?
  • Digital Books?
  • Something Else? If so, what specifically?

The VCP Process® Explained–What’s Your VCP Story?string(62) "The VCP Process® Explained–What’s Your VCP Story?"

September 26, 2013
, , , , , , , , , , , Author, Book, Building Relationships, Connections, Credibility, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Profitability, Referrals, Relationships, Sales, Strategy, Success, System, VCP Process, Visibility 8

As some of you may know, Jack Canfield, Gautam Ganglani, and I are currently working together on a book about networking.  This short video is one of many others, some of which I’ll post in the future, that cover networking topics which we will be focusing on in the book.  The videos are the result of brainstorming sessions for the book and in this particular video, I explain each step of the VCP Process® approach to networking in careful detail, emphasizing that credibility is really the key to networking success.

I share a personal story which demonstrates why trying to drum up referrals from people you’ve never met before is an exercise in futility as you’re not even at the visibility stage with them, and I outline the absolute best way to establish credibility with others.

If you have a story relating to the VCP Process® which fits the criteria I describe in the video, please visit www.SubmitYourNetworkingStory.com to submit your story for a chance to be published in the upcoming book on networking that Jack Canfield, Gautam Ganglani, and I will be publishing.  Also, I’d love for you to briefly summarize your story in the comment forum below as well.  Thanks in advance for your participation!

 

Spray and Pray Networkingstring(25) "Spray and Pray Networking"

August 26, 2013
, , , , , , Marketing/Sales, Networking, Networking Prep, Networking Tactics, Referrals, Relationships, Sales, Strategy, Success, System 13

An associate of mine once told me about an interesting experience she had when she struck up a conversation with a woman at a networking function.  When the woman asked my associate what she did for a living, my associate explained that she  helps small business owners build their businesses through networking and referrals.  The woman smiled quite confidently and said, “I’m a business owner myself and I’m actually really good at networking!  I’ve been doing it for a long, long time.”

This, of course, ignited my associate’s interest so she said to the woman, “I’m always interested in the tactics of successful networkers; do you mind if I ask you what your secret is?”  The woman flashed a self-satisfied smirk, stood up straight with an air of accomplishment, and said, “Well, I always make sure to go to networking functions with a friend and when we enter the room we draw an imaginary line right down the middle.  If my friend takes the right side, I take the left side and vice versa.    Once we each choose the side of the room we’re going to cover, we agree to meet back together at a certain time, and then we spend the entire time networking only on our individual side of the room trying to gather as many business cards as possible.  When the time comes for us to reconvene with each other, we compare how many business cards we each collected and whoever has the least is the loser so they then have to buy lunch for the one who collected the most.”

My associate inquired further, “So what do you do each do with all of the business cards you gather?”  Donning her proud smile yet again, the business woman said, “That’s the beauty of it.  I enter them into my prospect list and begin to send them information about my services!  Since I have all their contact information, I figure why not pitch my services to them–they’re all potentially good prospects, right?”

When my associate told me this story, she was appalled that the woman would network in this way and I wholeheartedly agree that this is NOT an effective way to network.  Instead, it’s a classic example of how some people use networking as a “face-to-face cold-calling” technique which I like to call “spray and pray”–it’s basically just like taking a networking spray can (so to speak) full of meaningless information, dousing the room of people with your spray, and praying that you’ll hit a few people who will respond to the generic concoction you’ve sprayed them with.

Networking is not . . . I repeat NOT . . . about simply gathering contact information and spamming people at a later date.  In reality, that’s nothing more than glorified cold calling–Brrrrr–it gives me the chills!  I used to teach cold calling techniques to business people many, many years ago and though cold calling may work some of the time, I did it long enough to know that I didn’t ever want do it again.  Nearly three decades ago, I decided to devote my entire career to teaching the global business community  that there is a much better way to build long-term business than “spraying and praying”–not only is it better, it is the absolute best way to grow any business–the secret to effective networking and long term business success is investing in strong, mutually beneficial business relationships based on trust.

Have you ever had an experience with someone who adopted the “spray and pray” networking style, or have you ever been a “spray and pray” networker yourself?  If so, please share your story here–I’d love to hear your experiences!

True or False?–The More You Promote Yourself, the More Referrals You’ll Get . . .string(93) "True or False?–The More You Promote Yourself, the More Referrals You’ll Get . . ."

June 17, 2013
, , , , , , , Givers Gain, Networking, Networking Prep, Networking Tactics, Referrals, Strategy, Success, System, Visibility, Word of Mouth 5

If you believe that promoting yourself, in the traditional sense, is the best way to get referrals, I hate to break it to you but it’s actually not a particularly effective way of generating referrals.  The thing is, just talking about yourself is not enough–you’ve got to teach people how to refer you.

You’d think that people would listen when you describe what you do and then just naturally put two and two together when they come across somebody who needs your product or service but unfortunately it doesn’t often happen that way.  People need to be led down the path.  You’ve got to say, “This is what I do.  Here’s what you need to look for, and this is how you refer me.”

Every day we all stand in the middle of a sea of referrals.  They are all around us, they happen all the time, but unless we (and our potential referral sources) are trained to pick up on them, we are oblivious to them. 

The secret is to train yourself and your sources to listen for the language of referrals.  Tell them, “When someone says, ‘I can’t,’ ‘I need,’ ‘I want,’ or ‘I don’t know,’ whatever she says next is a possible referral for me.”  Teach your sources to listen for words or phrases expressing a specific need: “I can’t get this lawnmower engine running right,” or “I don’t know which tax form I need to use,” or “I want to remodel my dining room, but I don’t know any good contractors.”  One of these could translate into a referral for you or someone you know.

Remember also that referral success arises from a system where information flows in both directions.  Approach it not by promoting yourself but by learning about other people’s businesses in order to find business for them first.  After that you can explain to them what you do–if they’re interested.  Maintaining a balance, with an emphasis on the philosophy of Givers Gain®, is what will most efficiently and effectively bring you success in referral marketing.

Think of one person in your network whose business you are interested in knowing more about.  What ways can you think of to get the ball rolling this week in regard to opening up a discussion with that person about each other’s respective businesses?  Please leave your comments, thoughts, and ideas in the comment forum below.  Thanks!

 

Facts Tell, But Stories Sellstring(28) "Facts Tell, But Stories Sell"

May 27, 2013
, , , , , , , , , , , , , , , Conversation, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Referrals, Sales, Storytelling, Strategy, Success, System, Word of Mouth 4

Over the past few weeks, I’ve posted blogs on how embracing quality, adding members, and seeking engagement are all things that will help networkers and entire networking groups achieve success.  Today, I’d like to talk about an additional tactic for obtaining stellar networking results–sharing stories.

Listening closely to the information shared by those in your referral network will help you in telling positive stories about them when you come across potential opportunities to refer them.  Conducting regular one-to-one meetings with each of your networking partners will also help you become more able to share stories when you refer others to them.  Think about your many positive experiences with your fellow networkers and write them down.

A number of years ago, I met Robert Dickman, author of The Elements of Persuasion, and he taught me the formula for a good story:

  1. A story is a fact
  2. Wrapped in emotion
  3. That compels us to take action
  4. That transforms us in some way

The key here is that a good story compels people to take action and that this action transforms or helps them in some way.  I always try to re-live a story, not just re-tell a story.  Make it sound fresh and alive.  That is an important aspect of storytelling.

Remember that facts tell, but stories sell.  If you want to build your network in order to generate more referrals, overlay storytelling on top of your efforts.

The keys to success within networking groups which I’ve previously posted blogs about (embracing quality, adding members, seeking engagement) can combine with sharing stories for a powerful formula that will help members of networking groups obtain optimum networking results and business growth:

3+1 = Member Success

  • 1-Embrace Quality
  • 2-Add Members
  • 3-Seek Engagement
  • +1 Share Stories

Understanding this formula can improve your business networking success in amazing ways. 

If your networking group already employs this formula, I’d love to hear about the impact it has made on your group’s performance and results.  Please share your feedback (and stories) in the comment forum below.  Thanks!

If Your Goal Is Success, You Need to Take a Look at Your Systemsstring(64) "If Your Goal Is Success, You Need to Take a Look at Your Systems"

December 20, 2012
, , , , , BNI, Business, Ivan Misner, System, Video Blog 3

In this short video, filmed at the 2012 International Conference for BNI, the networking organization I founded back in 1985, I talk with my good friend and BNI Executive Director Mark Carmody about systems and business.

Mark tells how one of the stories in Michael Gerber’s book The E-Myth caused him to have an epiphany about the value in systems and how systems can make it substantially easier to run an efficient business.  To sum things up, the more systems you incorporate into your business, the more successful you will be over time.

After watching the video, please leave your feedback in the comment forum below and share some of the systems you’ve implemented in your business that have made a significant impact on your success. It’s always inspiring and thought provoking to hear about some of the ways people are achieving success in their businesses and whether the systems you rely on in your business are basic or more out-of-the-box, I’d love to hear about them.

Authenticity Is the ‘New’ Audacitystring(46) "Authenticity Is the ‘New’ Audacity"

November 26, 2012
, , , , , , , , , , , , Building Relationships, Business, Connections, Credibility, Guest Blog, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Online Networking, Profitability, Referral Institute, Referrals, Relationships, Sales, System, VCP Process, Visibility 32

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®.  Ten 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.  In the past, we’ve co-authored the articles.  Today, I’m proud to share with you Part 10 of the series – which is written entirely by TR as a Guest Blogger.  Please comment below and let us know what you think.

 

AUTHENTICITY IS THE ‘NEW’ AUDACITY

(Part 10 of 12 of the “Navigating The VCP Process® To Networking” Series)

Have you ever heard the following phrase: “It’s nothing personal, it’s just business”? 

I have.  And every time I hear it, it still disappoints me.  Today, business is personal and people do business with ME because of ME, and they should do business with YOU because of YOU – not because you perfected some PowerPoint presentation or recently attended a Sales seminar on how to overcome a prospect’s objections.

Nowadays the consumer marketplace that fuels the economy sets the criteria on how they wish to be treated.   Consequently, to society today the term ‘overcoming objections’ sounds a lot more like the following descriptive words:

  • Persuade
  • Manipulate
  • Convince
  • Coax

When it comes to buying, purchasing, or investing criteria, I don’t know about you, but the concept of being ‘closed’ and the terminology used in the Traditional Sales Model doesn’t translate that well with me – and probably society overall for that matter.  I don’t want to be ‘convinced’ of anything and my guess is that you don’t either.  If you’re interested in creating a long-term client/customer relationship, it’s my presumption that it’s probably not in your best interest to start off by persuading, manipulating, or convincing your potential client to do business with you.  Don’t you agree?

Yet the sad truth is that, today, it’s probably a safe bet that we could go to Amazon.com and search books on the topic of Sales.  It’s also probably a safe bet that we’d find hundreds (and potentially even thousands) of Sales books with their title including the words ‘Persuasion Techniques’, ‘How To Close The Sale’, and even ‘How To Overcome Objections.’  Yes, people who employ these tactics will get results.  I’ll concede that point.  But these tactics continue to reinforce the lifestyle of a HUNTER – behaviors that are long gone as conduct that small business owners and entrepreneurs idolize.

Remember, Business Networking is more about ‘farming’ than it is about ‘hunting’.  It takes time to cultivate relationships.  But once you dedicate the effort, these relationships ultimately allow you to ‘harvest’ referrals for a lifetime.  Today, people choose to do business with other people because of:

  1. Who they are
  2. What they stand for and
  3. The lessons that life has taught them through their own personal experiences that uniquely qualify them to offer the marketplace a product or service in a way that only they could deliver.

If you seek Client relationships, today’s customers aren’t just buying what you sell. They’re buying who you are.   If you seek Strategic Partner relationships, people refer other people – NOT the product or service they offer or the actual company that they represent.

When networking and getting to know other professionals, if you shy away from who you are, what you stand for, and what personal experiences life has revealed to you, then your message most likely will not resonate today and you may not get the results that you expect.  Don’t make a mess of your message by trying to recite the ‘About Us’ Section of your company’s website when you first meet people.  What is captivating to other professionals these days is congruency with how you communicate that you are a real person through your attitude, behavior, and actions.

The definition of Audacity according to Wikipedia is to be BOLD, COURAGEOUS, or have CHUTZPAH.  I say that it’s pretty bold to be yourself with all your wonderful flaws (nobody’s perfect) because it proves your authenticity and attracts connection.  Everybody has relationships, yet few people relate.  Strive to be one of the few.  If you truly act like yourself all the time and not just in your personal life, then people will be able to relate.  This builds trust, credibility, and camaraderie.  If your behavior is different depending on whether you’re in a personal or professional environment, then you may be attracting people who are attracted to who you’re pretending to be.  And, it’s my belief that this is not the recipe for a long term professional relationship that’ll provide a steady stream of referrals.

In the grand scheme of things, you devote your time networking at the local Chamber of Commerce, Association Mixers, and even weekly BNI meetings to receive a return on your investment (ROI) in the form of regular referrals.  Navigating the VCP Process® to networking from Visibility to Credibility all the way to Profitability would most likely then be your goal.  Based on the marketplace’s value on authenticity today, I personally believe that your easiest path to Profitability is to start by simply being yourself.  Isn’t that a sigh of relief? 🙂

In closing, a successful small business owner’s mission is not solely to take the action to network.  It’s about taking the actions to ensure that you connect and relate with others when you network that really counts.   I 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 11 called “Don’t Make a Mess of Your Message.”

Have a Positive and Supportive Attitudestring(39) "Have a Positive and Supportive Attitude"

November 12, 2012
, , , , , , , , , , Connections, Givers Gain, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Success, System 8

The First Law of Notable Networking: Have a Positive and Supportive Attitude

Good networking involves providing a positive and supportive environment to other business people.  Remember this: Notable Networking is predicated upon the concept that Givers Gain®. 

If you freely give business to others, they will give business to you.  This concept is based on the age-old notion that “what goes around, comes around.”  If I give business to you, you’ll give business to me, and we will both do better as a result.  Networking is like a savings account: if you keep investing wisely, you can draw upon it when you need it.  One enthusiastic networker who belongs to a formal networking group told me, “The longer I’m in the group, the better I get at networking and the more referrals I get.  In addition, it seems that the more referrals I get, the higher the percentage that I close!  By developing long-term relationships, I am gaining the trust of the other members, which makes it easier to receive and close the referrals that are passed to me.”

A positive, supportive attitude also includes the way you present yourself to other people.  Everyone likes to do business with an enthusiastic optimist.  If you join a networking group, remain focused on the reason you’re there.  I see far too many people go to networks and get caught up in the irrelevant nitpicking: “The food’s no good,” “The speaker was mediocre,” “This room’s not very nice,” and so on.

With the quibblers, I share this anecdote: An airline attendant once responded to a passenger’s complaints about the quality of his dinner by asking him, “When you go to a French restaurant, do you usually order an airline ticket?”  The same rationale applies to networking meetings.  The quality of the food and the speaker should be secondary to the quality of the contacts you are making.  Don’t lose sight of your purpose.

It’s not Net-Sit or Net-Eat, it’s Net-WORK!  If you want your network to work for you, then you have to work your network in a positive and supportive manner.

In many ways, the First Law of Notable Networking involves more than attitude; it’s a way of life and a good way to do business.  When you constantly and consciously keep other people in your mind, they will do the same for you.

I’ll be posting about the Second and Third Laws of Notable Networking over the next couple of weeks so be sure to check back if you want to learn even more about how to succeed as a networker.

*Can you think of a person in your network who exemplifies the First Law of Notable Networking?  If so, take this opportunity to carry out the First Law yourself and showing them your support by recognizing that person in the comments section below.  Tell us who they are and what they do that makes them such a shining example of this First Law of Notable Networking.

If You Don’t Get This, You Won’t Succeed at Networkingstring(66) "If You Don’t Get This, You Won’t Succeed at Networking"

November 8, 2012
, , , , , , , , , , , , , , Behavioral Styles, Building Relationships, Connections, Credibility, Gender, Networking, Networking Prep, Networking Tactics, Online Networking, Profitability, Referrals, Relationships, Success, System, VCP Process, Video Blog, Visibility, Word of Mouth 2

In this brief video, Roger Green and I talk about the two styles of engagement (Relational vs.Transactional) and The VCP Process®.

Throughout the course of my research, I’ve found that, on the average, when it comes to networking, men’s behavior typically goes in one specific direction, and women’s behavior goes in a very different direction. It’s very important to understand this but what’s even more imperative to understand is the VCP Process®–if you don’t get VCP, nothing else you do will work at networking; you have to understand VCP.“

Remember: Generating business through networking is a referral process; not a sales process.  After watching the video, please share your thoughts in the comments section regarding the VCP Process®–which part(s) of the process do you currently excel at and which part(s) do you feel you might need to work on?  Do you believe your are better at certain parts of the process due to being either transactional or relational, or because of your gender?

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