Why Do Businesspeople Help Others?string(34) "Why Do Businesspeople Help Others?"

There are only a few basic ways to inspire people to care about your business and help you build it. Basically, it comes down to relationships and rewards.  

Some people, typically family or friends, will want to help simply because they like you and want you to do well. They are motivated by the relationship itself.

In most other cases, the long-term motivation for people to want to help you and your business is not based solely on whether they like you. Business partnerships, including referral relationships, almost always include some type of mutual reward, typically in the form of financial or social gain. Both you and your networking partner have something to gain, and you are both willing to help each other achieve it.

Some people are motivated by the potential for business referrals you can give to them, while others are motivated by the prestige and opportunities created by having a relationship with you. Regardless of the underlying motivation behind them, business networking relationships can take some time to reach profitability in a substantial way. However, they are certainly worth cultivating. Ultimately, strong relationships will steer opportunities back to you because of the nature of networking itself.

Referrals are Not Reciprocal

I remind networkers that there isn’t a rule that says, “For every referral you give, you can expect one in return.” When you give more referrals, it does not mean that others will automatically do the same. It just doesn’t work that way in referral marketing.
A referral is not always reciprocal.

Effective business networking is about strong and deep relationships with your referral partners. Professionals who focus on giving first and asking, “What can I do to help you?” rather than having an attitude of “What’s in it for me?” usually find more success in their networking efforts.

I believe that most relationships will prove rewarding in the long term, even in cases where you don’t receive referrals in return. There are a few extremely successful people to whom we send referrals and who never reciprocate with a referral back to us. We’re motivated to continue helping them because they will work with the people we refer to them. That makes us look good, as it is often difficult for the average person to start a working relationship with these very successful, very busy professionals.

Additionally, if we refer someone, it opens a door that might never have otherwise opened. The new person that we are referring to our very busy friends or associates is the one who now goes out of their way to reciprocate. That becomes our motivation for helping our networking partners achieve their goals. And, in true Givers Gain® fashion, it usually winds up coming back to us in some way or another.

The Philosophy of Givers Gain

Givers Gain is not only a great way to get business, it’s an even better way to do business. These are some of the motivations that fit with the philosophy of giving.

  1. We give because we understand that in a community, what we do, others will do, and we all benefit.
  2. We give because we know that in the same situation others would do the same for us.
  3. We give because we want to give back where we have profited before.
  4. We give because when we work together, we get bigger and better results than working on our own.
  5. We give because we enjoy it.

A key element of giving is having ethical motivation. You can always give once and justify your motivation, however, giving over and over again requires a motivation that is understood by you, and by the people you surround yourself with.

Remember, in business networking, successful referral relationships are mutually beneficial with both parties being motivated by some type of reward that helps them, and their business, grow.
Can you think of some way that you have benefitted because of caring about others’ businesses and helping them achieve their goals?  

 

 

 

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How to make the Ordinary, Extraordinarystring(39) "How to make the Ordinary, Extraordinary"

This is the fourth video in the “Ivanism” Garage to Global series, hosted by Entrepreneur.com. In this series, I expand on well-known phrases I’ve used throughout my career.

Success is the uncommon application of common knowledge.

It’s common knowledge within the business company that success in business comes from having passion, systems, goals and vision, social capital and leverage. So if we all have the same idea of what it takes to be successful, why aren’t we all?

Give me three minutes, and I’ll give you the answer.

 

flame

Are you Flame or Wax Happy?string(27) "Are you Flame or Wax Happy?"

This is the second video in the “Ivanism” Garage to Global series, hosted by Entrepreneur.com. I expand on common phrases I’ve used over the years and explain how they can apply to your business and referral networking style. Today I discuss the Ivanism, “Working in Your Flame vs Your Wax

Are you flame or wax happy?

That sounds like a bizarre question–but it’s not.

When you’re working in your wax and when you’re working in your flame are two very different things, and can affect you in different ways. If you’re flame happy, you’re excited, motivated and ready to pursue your ambitions. But what happens when are wax happy, and simply complacent with working on things that you aren’t passionate about?

The video below talks about this idea and ways you can make sure you’re always flame happy.

 

 

 

True or False?–Your Best Source of Referrals Is Your Customersstring(68) "True or False?–Your Best Source of Referrals Is Your Customers"

Do you believe your best source of referrals is your customers?  If so, think again . . . the reason people sometimes fall into believing customers are there best source of referrals is that they’ve been trained to believe it and have never pursued any other source of referrals.  The only referrals they’ve ever received are from customers.

Don’t get me wrong–customers and clients can be a very good source of referrals and I’m not denying that.  However, many businesses (especially big corporations) are out of touch with the fact that other referral sources are available that can be extraordinarily powerful.  Clients, although often the most readily available sources, are not necessarily the best or steadiest sources of high-quality referrals.  The best sources in the long run are likely to be the people you refer business to.  When you help another businessperson build his or her business, you’re cultivating a long-term relationship with someone who’s motivated to return the favor by bringing business to you, who’s sharing your target market, and who will work systematically with you for mutual benefit.

With a well-developed referral network, you can realize more good referrals from one or two professional referral sources than from all your customers combined.  Why?  Because these professionals are better salespeople than your clients and they spend more time in contact with your target market.  They know how to sell to your client base.  They talk your talk.  If you’ve done your job of educating and training them to refer business to you, they can communicate your value better to their contacts.

There’s also a built-in challenge with viewing customers as referral sources.  If you’re spending part of your time with a customer trying to get referrals, you’re generating a conflict of interest.  Instead of devoting all of your time and attention to the customer’s needs, you’re diverting part of that effort toward your own self-interest.  Instead of devoting all your time and attention to the customer’s needs, you’re diverting part of that effort toward your own self-interest.  The customer may sense that they are not getting full value–and the truth is, they may be right.  You may be sending mixed messages.  You may be polluting customer service time with “gimme business” time.

Yes . . . you can expect to get referrals from a happy customer, but you’d better make darn sure the customer is indeed happy.  This means keeping your attention–and your motivations–focused on the customer’s needs when that is the purpose of the visit or call.  However, there’s nothing wrong with asking for another appointment specifically so you and your client can discuss how you can help each other.

What’s the best referral you’ve gotten recently (think about the referral you’ve been the most excited about)?  Where did that referral come from?  I’d really like for you to share your answer in the comment forum below because I’d love to get a conversation going about the diverse array of avenues from which good referrals can be generated.  My goal in writing this post was not at all to discount customer referrals, but rather to emphasize that they are not solely the best source of referrals–great referrals can come from many places.  For that reason, I’d love to hear where your most recent standout referral came from so please share your story with us–I know more people in addition to me would really like to hear about your experience!

 

International Networking Week 2018®

Get Ready for International Networking Week 2013!string(49) "Get Ready for International Networking Week 2013!"

International Networking Week®  2013 is almost here and with it comes tremendous opportunity for  businesspeople across the globe to grow business through the development  of powerful new connections!

International Networking Week®  is an initiative of BNI® and its focus is to celebrate the key role that networking plays in the  development and successs of business around the world.  It’s about  creating an awareness of the process of networking.  Not just any kind  of networking, but “relationship networking”–an approach to doing  business based on building long-term, successful relationships with  people through the networking process.

Over the past several years, International Networking Week has been  gaining momentum worldwide and for the past few years, the Week has been recognized by  tens of thousands of people around the world and acknowledged by many  governmental agencies and high profile organizations.

The number of people participating in this year’s celebration of International Networking Week®, through hundreds of large events and thousands of smaller events, is expected to be even greater than it was in 2012.

You can join in the celebration of the Week by:

  • Watching the 2013 International Networking Week Video by CLICKING HERE. Please feel free to share the link with everyone in your network and post it on any websites you may have.
  • Visiting www.InternationalNetworkingWeek.com for more information and a list of worldwide events.
  • Participating in this year’s recommended special International Networking Week networking exercise by bringing an individual who has been a significant influence on your business/life to the  networking meeting or event you’ll be attending during International  Networking Week.  For full details, please click on the link below.

SPECIAL NETWORKING EXERCISE–INTERNATIONAL NETWORKING WEEK 2013

How are you planning on celebrating International Networking Week?  I’d love to hear your ideas on additional ways to celebrate this year so please leave your thoughts in the comment forum below.  Thanks!

International Networking Week Video 2013string(40) "International Networking Week Video 2013"

The new video for International Networking Week® 2013 has just been released!

This short, 11-minute video, sponsored by the Referral Institute, explains how the week of February 4th-8th, 2013 will bring about great opportunities for businesspeople around the world and increase worldwide awareness about the powerful benefits of business networking. International Networking Week® 2013

2013 will mark the 7th annual celebration of International Networking Week which is now recognized by many countries across the globe, with thousands of events being held during the week. One of the main goals of the week is to help businesspeople everywhere build their networking skills and expand the opportunities within their reach.  In the video, my “Room Full of Referrals” co-authors (Tony Alessandra and Dawn Lyons) offer some very valuable pointers on understanding behavioral profiles in a networking context and where to focus your efforts in order to make the most of International Networking Week.

Take a few minutes to watch the video and share with us here on the blog what you learned.

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

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.

Want to Earn More? You Need to Learn More…string(48) "Want to Earn More? You Need to Learn More…"

It used to surprise me when I heard statistics such as this: 50% of all businesses fail in their first three years.  Now that I’ve been in business for several decades and have seen many entrepreneurs come and go, I’m more surprised that 50% of businesses actually make it past the first three years!

Maybe I’m being a tad harsh . . . but not much.  One thing I’ve learned is that most successful entrepreneurs embrace and engage in a culture of learning in order to excel.  Personal and professional self development is an ongoing journey–not a destination.  It’s always a work in progress.  Often, businesspeople get so caught up working “in” their business that they forget to spend time working “on” their business.  Part of working “on” a business is one’s professional development.

Most entrepreneurs only pay lip service to education (okay, maybe not you since you’re actually taking the time to read a blog post about business but I’m talking about the average entrepreneur).  Ask a number of entrepreneurs and businesspeople if they would be willing to attend a seminar on building their business and three quarters of them will say yes.  However, if you proceed to tell them that the seminar is four weeks from tomorrow at 7 p.m., only a handful of those who initially agreed they would go will actually sign up.

Benjamin Franklin once said, “If a man empties his purse into his head, no one can take it from him.  An investment in knowledge always pays the highest return.”

With that in mind, here’s an action item that will help get you started on the path to immersing and engaging in a culture of learning:

Look at your financials (or checkbook, or credit card statements) for the past year.  Have you invested money into any type of ongoing business education?  If you aren’t “emptying some of your purse into your head,” take a few minutes to think about what you want to learn to help you build your business and then sign up for something this week.

Remember, if you want to earn more, you need to learn more (and reading this blog from time to time won’t hurt either)!

Lastly, share with us something that someone once taught you (something from books and seminars are OK) that helped you in some important way.


Success: The Uncommon Application of Common Knowledgestring(53) "Success: The Uncommon Application of Common Knowledge"

In this short video by Applied Transformation, Inc., I talk to Roger Green about how I came up with the idea that success is the uncommon application of common knowledge, and explain why I’m such a firm believer in the concept.

If you aren’t buying it just yet, think about this . . . everyone I interviewed some years ago about the secret to success–from Buzz Aldrin, to Erin Brockovich, to average businesspeople, to undergraduate college students–all gave me almost the exact same answer.  So, if we all know what it takes to be successful, then why is it that we aren’t all as successful as we’d like to be?

What’s your take on the secret to success?  Is your recipe for success the same as the answer I heard repeated from each person I interviewed, or do you have different ideas about how success is achieved?  Please leave your thoughts in the comments section.

Business Networking & Sex: Survey Says . . . Time Spent Networkingstring(71) "Business Networking & Sex: Survey Says . . . Time Spent Networking"

In this short video, I share a portion of the results from the survey of 12,000 businesspeople on which my most recent book, Business Networking and Sex: Not What You Think, is based.   The results I discuss here indicate that there is a very powerful, direct linear correlation between the time spent networking and business success.

You’ll also hear some colorful comments in the video relating to the book and my co-authors (e.g., “Frank, you’re a bad, bad boy . . .” ;-)).

After watching the video, please leave a comment explaining whether you feel the indication of the statistics is true or lacking based on your personal networking experience.

Business Networking and Sex: Survey Says . . . Transactional vs. Relationalstring(75) "Business Networking and Sex: Survey Says . . . Transactional vs. Relational"

In this short video, I share a portion of the results from the survey of 12,000 businesspeople on which my most recent book, Business Networking and Sex: Not What You Think, is based.   The results I discuss here indicate that men and women act differently when it comes to the VCP Process®, transactions, and relationships.

Based on your experience, would you say these results jive with what you’ve found to be true in the networking world?  Please share your thoughts in the comments section–I’d love to hear them!

Only Focusing on ONE Referral Source Equals Missed Opportunity!string(63) "Only Focusing on ONE Referral Source Equals Missed Opportunity!"

In this video, Cheryl Hansen, a Trainer and Franchisee with the Referral Institute, explains that most people tend to focus only on existing clients as their main source for business referrals and they neglect the seven other referral sources which they could be developing simultaneously to generate unlimited opportunity for new referred business!

Cheryl highlights community service organizations and casual contacts as just a couple of commonly untapped referral sources and urges businesspeople to start developing all eight of the referral sources which are outlined in the book The World’s Best Known Marketing Secret and listed below . . . which of them are you going to make a commitment this week to start developing?  Leave a comment and let us know . . .

The Eight Referral Sources:

  1. People in Your Contact Sphere
  2. Satisfied Clients
  3. People Whose Business Benefits from Yours
  4. Others with Whom You Do Business
  5. Staff Members
  6. People to Whom You’ve Given Referrals
  7. Anyone Who Has Given You Referrals
  8. Other Members of Business Referral Groups

If you’d like a more specific description of any of the eight referral sources, simply leave a request in the comments section–I’m more than happy to write a blog with further details regarding any/all of the above sources.

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