Trust Archives - Dr. Ivan Misner®

11Mar2021

Building a Strong Trusted Networkstring(33) "Building a Strong Trusted Network"

March 11, 2021

Social Capital, trusted network Building Relationships, Social Capital, Trust, Video Blog 1

The best way to grow your business is by referrals generated from a strong trusted network. In the previous blog, I discussed building quality relationships. Growing more quality relationships in your trusted network will increase the number of referrals generated by the members in your network. What is a trusted network? How do you build a strong trusted network? This video further explains this concept.

A Strong Trusted Network

Quantity is good, but quality truly is king

What is important is the QUALITY, not the quantity, of the relationships that you have with the members of your network. Grow your business by growing a strong network of people who know all about your business and fully trust you. Furthermore, you completely trust every person in your network and have a full understanding of each of their businesses. Finally, educate everyone regularly about the people you would love to be introduced to grow your business. That is a strong trusted network.

Imagine having your personal trusted network as part of a strong global network of 10,000 other trusted networks. Grow your local business with a global network. BNI’s (Business Network International) mission is to help members increase their business through a structured, positive, and professional referral marketing program that enables them to develop long-term, meaningful relationships with quality business professionals. In 2020, over 275,000 members of BNI worldwide passed over 11.5 million referrals which resulted in more than $16.2 billion USD in business. Visit a local BNI chapter meeting and learn how BNI can transform the future of your business.

Effective networking is not really what you know or who you know. It’s how well you know them that really counts. Therefore, the stronger the relationships are that you build with your network’s members, the more referrals you will receive from them.

26Oct2020

Is There Room for Intuition in Business?string(40) "Is There Room for Intuition in Business?"

October 26, 2020

Ivan Misner

instinct, Intuition, trust Entrepreneur, Ivan Misner, Trust 1

Is there room for intuition in business? Yes, most definitely. Decades ago, I may have thought differently. Over the years I have changed my opinion and believe that intuition can be another tool in the business tool belt. The definition of intuition is the “direct perception of truth or facts, independent of any reasoning process; it is an immediate apprehension or a keen and quick insight into something”.

The Intuits’ Intuition

Years ago, I read a science fiction book that talked about “intuits,” people in their society who seemed to understand things instinctually. Intuits were thought to have this incredible ability to have immediate cognition of a situation. But the truth was, the intuits developed the skill to quickly assemble the facts, analyze the data, and predict probabilities based on their field of expertise. The book was science fiction. However, it made a statement that resonated with me. It said something that flies in the face of the definition above. It said intuits trained for many years in very specific fields and that it wasn’t an instinctual understanding of an issue but it was about quickly using reasoning given their amassed understanding of particular issues. In the real world, that’s basically what predictive analytics do using computers today.

Instinctual Intuition

Having reconsidered my opinion on instincts, I noticed that as I acquired more experience in my field, I found myself better at assessing issues quickly and having a “gut feeling” about the direction I should go. What I had presumed was instinct was — at least in part — quickly assessing the situation given my amassed knowledge of a particular subject.

What some people think of as “instinct” might be this amassed knowledge applied rapidly. I recently had someone drop me a note about a particular challenge he was having. I gave him some advice and in an email response discussing the resolution of the issue, he said I had assessed a particular problem accurately and concluded by saying, “your gut instinct is amazing!” Truth be told, it was partly intuition but predominantly my years and years of seeing situations like this and quickly assessing the problem and offering a solution. In my very own narrow field, I looked like an intuit.

Follow Your Intuition

22Dec2016

The Top 10 Ways to Waste Your Time in Networking Groupsstring(55) "The Top 10 Ways to Waste Your Time in Networking Groups"

December 22, 2016

Ivan Misner

Networking, Top Ten, waste time Ivan Misner, Networking, Networking Prep, Networking Tactics, Recommendation, Relationships, Strategy, Trust, Video Blog 1

Make your time and efforts worthwhile in networking groups. Success in networking comes from building trust with the other members in your networking group. Ivan Misner shares his Top 10 ways many people waste their time networking in this video.

28Mar2016

Using Your Passion to Sell Your Businessstring(40) "Using Your Passion to Sell Your Business"

March 28, 2016

Ivan Misner

businessowner, excitement, growth, Passion, referral partners Purpose, Success, Trust

Are your referral partners excited about your business? Getting your referral partners excited about your business is one of the top ways to generate more referrals, and build your contact base more.

You’re probably sitting there thinking, “Oh, but nobody could be excited about my business. I do XYZ, and that’s boring.” Are you excited about what you do? Are you passionate about what you do?

Hopefully, the answer is yes – as a business owner, you should be excited and passionate about your business. That passionate you have for your business should show in how you describe it, and excite your referral partners. If you’re not excited about what you do, no one else will be either.

Think back to a time when you heard a motivational speaker, perhaps as a keynote at a convention or during a seminar. When you left the room that you heard the speaker in, was there an energetic buzz in the air? Were the other attendees excited about what they heard? Usually, the answer to that question is yes. But why?

Motivational speakers have an uncanny ability to share passion through their words, which increases their credibility and helps listeners remember their messages better. The very same end goals should be what you have in mind when educating potential referral partners about your business.

Increasing the excitement about your business can be easy. Take time to think about why you are excited about your business. What about what you do makes you look forward to waking up in the morning and going to work? Your personal challenge in networking is to have an extraordinary message that not only captures, but highlights, your passion and the essence of your business.

My challenge to you this week is to explain something about your business that excites you to a referral partner who may not have known about it before. See how they receive this information, or if they start to get excited, too.

Let me know in the comments below how that passion-fueled conversation goes!

28Jan2016

Building Up Your Power Teamstring(27) "Building Up Your Power Team"

January 28, 2016

Ivan Misner

Contact Sphere, growth, power team, Team Credibility, Growth, Trust 1

How do you increase the number of referrals your networking contacts are helping pass to you? One way, of course, is to educate your contacts on how to best get referrals for you. Another easy way to increase your number of referrals is to create relationships with people who, based on their professions, are most likely to pass quality referrals to you. These ideal referral partners are broken up into two groups: Contact Spheres and Power Teams.

The difference between the two is minor, yet impactful. Your Contact Sphere is all the possible professions you can team up with, while your Power Team is the group that you have actually teamed up with. Often times, these groups will be made up of professions that work together symbiotically, and are naturally inclined to refer business to one another. Think somewhat related, but non-competing, businesses.

To build your Power Team, you’ll want to take some time and map out your ideal Contact Sphere. What professions could you work well with, if only you knew someone who worked in that field?

Once you’ve built your Power Team, your work isn’t done. You must always be looking for ways to pass a referral to your Power Team. Over time, you’ll develop trust and your Power Team partners will pass significantly more referrals to you.

Additionally, one thing that I have seen work well for Power Teams is a weekly meeting, or at a minimum every other week. These meetings should be outside of your regular networking events, and should be smaller, more intimate gatherings with your Power Team. To keep your meetings running smoothly, have a chairperson to lead discussion. Each member of the Power Team should discuss their ideal referral, and perhaps dedicate some time to brainstorming places to find these referrals. As a group, you may also discuss potential other professions who would fit well in your Power Team.

Common mistakes I’ve seen with Power Teams include:

Confusing them for Contact Spheres. Contact Spheres are a broad list of professions that could work well with you, while your Power Team is only those that you are actively working with.
Not dedicating time to them. Just forming a Power Team will not build up referrals for you. Like with any other relationship, you need to build up trust, learn the wants and needs of the other members of the team, and establish best ways to help everyone in the group meet their business goals.
Not building the right team. If you have someone in your Power Team who isn’t passing referrals to you, whether that be because they are having your services done in house or any other reason, they shouldn’t be in your Power Team. While you may not be able to avoid having them in your networking group, you are able to partner with someone outside of your group. There is nothing wrong with having multiple networks.

2Nov2015

Three Reasons Why Your Mentor is Your Greatest Assetstring(52) "Three Reasons Why Your Mentor is Your Greatest Asset"

November 2, 2015

Ivan Misner

mentoring, mentors, relationships, trust Leadership, Mentors, Motivation, Networking, Relationships, Trust 3

Where is your cell phone? Close by? Some of you may even be reading this on your phone right now. Most professionals will have easy access to the internet, and so many of us will jump straight to Google when looking to answer the simplest of questions.

Google can’t always answer your questions, though. Articles and message boards can only get you so far. Occasionally you will have a question or concern in your business so specific that you would really benefit from a direct answer to your situation. This is just the tip of the iceberg when it comes to reasons why every successful businessperson could benefit from a mentor. So why should you have a mentor? Here are three reasons why a mentor could be invaluable to your business.

Hone your craft

Your mentor will likely be someone who has years of experience on you in your field. They know how to accomplish tasks that you might not, and as a person who has a genuine interest in you and your success, they will teach you how to communicate more effectively, succeed at a networking event, or set worthy and empowering goals. Whatever your hurdle is, your mentor can help you overcome it.

Access to relationships

So often we forget the power of the network those in our network have. As you are networking and working to grow your business, your mentor once upon a time did the same for their business. Their network is a powerful resource to you, and they would likely be more than happy to get you in contact with members of their network as need arises.

Building your confidence

Having a mentor can help build your confidence in numerous ways. For one, having an individual that you trust and respect backing you, perhaps someone with a reputation in your industry, can help you feel as if you have made the right decisions. Additionally, hearing their stories from when they were at the same juncture in their career can help you see your situation with a different clarity, and help you feel empowered.

Do you have a mentor? How have they helped you the most? Leave your comments in the field below!

23Jul2015

Networking Is a Marathon, Not a Sprintstring(38) "Networking Is a Marathon, Not a Sprint"

The fact is, networking truly is a marathon of an endeavor–it’s most definitely not a sprint. I have met so many people who practice what I call ‘hyperactive networking’ and they mistakenly approach networking at the speed of an all-out sprint–they want to be absolutely everywhere and meet absolutely everyone and they go, go, go ALL of the time until they soon inevitably burn out, ‘collapse,’ and give up.

It’s a real shame because if these people would, from the beginning, just slow down and take the time to develop a networking strategy and understand that networking takes time, patience, hard work, dedication, commitment, and endurance, they would be reaping great rewards from their networking efforts instead of exhausting themselves with nothing to show for it in the end.

Networking at its core is about taking the time to build genuine, trusted relationships. Sure, visibility is important, but without building trust right along with it, visibility won’t get you very far in the long run. You can run around all day long going to networking events and shaking people’s hands, but if you’re not spending time following up and developing trust with the people you meet, then you haven’t really achieved much of anything that will actually give you results from your networking efforts–do not confuse activity with accomplishment.

So, what are your tactics for pacing yourself in the marathon of networking? What actions do you take to strategically build relationships? I’d love to hear from you so please share your thoughts and ideas in the comment forum below–thanks!

2Jul2015

Keith Ferrazzi: Build Trust by Breaking Breadstring(45) "Keith Ferrazzi: Build Trust by Breaking Bread"

As most of you who read this blog are avid networkers, it’s highly likely you are already familiar with Keith Ferrazzi. If you aren’t, however, I can tell you that if the dictionary had a photo to accompany the definition of “master networker,” the photo would be of Keith. He is absolutely the epitome of a master networker, and he has the most diverse group of contacts of anyone I’ve ever known.

Keith’s first book, Never Eat Alone, is a bestseller and the entire premise of the book is that networking over a meal is an absolutely amazing way to build rapport and trusted relationships with people. After I read it, I found myself constantly referring to it in conversation and recommending it to people because it really is true–something magical and companionable happens when people break bread together.

I wanted to share this video with you today because, in it, Keith talks about his own key strategies for hosting networking dinner parties, and I think the “dinner party tactic” is one that not a lot of networkers have dabbled with. I would love to see networkers around the world, both novice and seasoned, experience the amazing, relationship-building power that hosting a purposeful dinner party can have.

Keith believes that the strongest links have been forged at the table. Because of this, he has mastered the art of throwing a networking dinner party and, in his networking content, he consistently emphasizes the power that throwing a dinner party can have in creating memories and strengthening relationships. He is quick to mention, however, that if we continue to have dinner parties with the same people, our circle will never grow. His solution is to identify and invite “anchor tenants” to your party. These are people who are related to your core group but who know different people, have experienced different things, and thus have much to share. They tend to be the people who have had a positive influence on your friends’ lives. It’s akin to inviting the CEO to the manager’s table, as Ferrazzi says. Soon other executives will want to be there too.

I had the opportunity to experience one of Keith’s networking parties firsthand and the anchor guest that night was the legendary author Gore Vidal. Providing the entertainment was America’s oldest collegiate a capella group, the Whiffenpoofs of Yale. Clearly, not all of us will be able to get Gore Vidal and the Whiffenpoofs at our networking party, but I’m guessing that Keith didn’t have them at his first party either. However, the strategy is sound and I encourage you to try out the concept as a way of building your visibility in the community. Keith has paid close attention to how a meal can most appropriately be leveraged for a business networking opportunity; the primary focus should always be on developing the relationship–learning about each other, helping one another with problems, and giving ourselves.

I invite you to visit KeithFerrazzi.com to learn more about Keith, and I highly encourage you to check out his content on networking–it’s absolutely fantastic!

2Mar2015

Are You Walking the Talk in Your Business?string(42) "Are You Walking the Talk in Your Business?"

March 2, 2015

Ivan Misner

Networking, Walking the Talk Business, Credibility, Marketing/Sales, Networking, Trust, VCP Process 2

I recently saw someone’s Twitter update telling me all about how his vitamin line will not only make me skinny and healthy, but will also make me wealthy. While there is nothing objectionable about any of these outcomes, the jarring reality is that the man promoting this wonderful opportunity is neither skinny, nor healthy, and he had just been posting updates about how he was desperately trying to dig himself out of debt!

Do you see the disconnect here? I’m sure you have seen people at networking meetings and events who will stand, introduce themselves, and deliver a promise-filled monologue about how their product or service will bring you all kinds of things which they themselves obviously do not have the benefit of enjoying.

Photo courtesy of marin at FreeDigitalPhotos.net

What’s missing is congruency. When your professional message is not congruent with your personal situation, your networking efforts will not be effective. If you are promoting yourself as a wellness coach, and yet you are often sick and carrying 20 extra pounds, there is a jarring incongruence for which it will be hard for you to compensate. When I want to refer my colleagues to a wellness coach, I will refer one who is healthy, fit and obviously achieving the results she promises I will receive from participating in her program.

This may seem logical, but I often see people all over the world with incongruent messages. Ask yourself how congruent your message is. If you’re a professional organizer, is your briefcase a disaster? If you’re a car detailer, how does your own vehicle look? If you have never done so, take stock today of your message. Evaluate what you’re saying the benefits of your products or services are compared to what you are showing people they are.

Ralph Waldo Emerson once said, “What you do thunders above your head so loudly, I cannot hear the words you speak.” In his book Inside the Magic Kingdom, Tom Connellan calls this “walking the talk.” How are you doing when it comes towalking the talk in your business? It will have a definite effect on the success of your networking efforts.

Share a story with me about someone (don’t name names!) whose message was not congruent with their actions. I’d love to hear other stories.

22Jan2015

In-Person Spammingstring(18) "In-Person Spamming"

At a recent Referral Institute® conference in San Francisco, one of the organization’s top trainers, Tiffanie Kellog, took a few moments to chat with me about the concept of in-person spamming. If you’ve ever encountered people who use networking as a face-to-face cold calling opportunity, so to speak, then you’ve been the subject of in-person spamming.

Watch the video now to learn why Tiffanie sometimes compares networking to speed dating and to get our combined take on the real point of networking, where people tend to go wrong in their networking approach, and how to know when it’s appropriate or inappropriate to give another person your business card.

If you’ve had an experience with in-person spamming, please share your story in the comment forum below. Thanks!

2Oct2014

Build Trust to Be More Effectivestring(32) "Build Trust to Be More Effective"

October 2, 2014

Ivan Misner

Charlie Lawson, Networking, Networks, Referrals, relationships, trust BNI, Building Relationships, Connections, Credibility, Networking, Networking Prep, Networking Tactics, Relationships, Trust, Video Blog 2

In this video, I speak with Charlie Lawson, networking expert and National Director of BNI® UK & Ireland, to talk about why networking isn’t a “get rich quick” scheme and how, quite to the contrary, it involves building long-term relationships based on trust.

The thing is, networking is more about farming than hunting. In other words, instead of voraciously chasing people to gain business, you must nurture relationships in order to build trust. Trust is what makes networks work. When trust is high among members of a network, there’s a wonderful cohesiveness and capacity to help one another generate effective referrals to mutually assist each other’s business growth.

However, when trust is low and relationships are plagued by suspicion, networks collapse and no worthy referrals will be given. If someone likes and trusts you, they are much more likely to give you effective referrals which will help generate more business for you.

Essentially, you must cultivate relationships with different business professionals in order to build confidence. If confidence is gained, trust can then come into play. Once you’ve gained trust, you are more likely to generate business through those relationships.

Do you have any specifically effective ways of building trust with the professionals with whom to network? If so, please share them in the comment forum below. If not, make it your goal this week to come up with some ways to do so–you have nothing to lose and a whole lot of trusted, long-term relationships to gain!