Farming for referrals Archives - Dr. Ivan Misner®
hunting

Networking is more about farming than it is about hunting

Over the years, I have observed that most business professionals go about networking the way our cave-dwelling ancestors went about hunting for food. If I could impart one piece of wisdom regarding networking and getting more referrals, it would be this: Networking is about farming for new contacts, not hunting them.

Premature Solicitation

Has a complete stranger ever solicited you for a referral or business? I call this “premature solicitation.” I have been its victim many times. Years ago, I was speaking at a networking event, and before my presentation, an unknown person approached me and said, “Hi, it is a real pleasure to meet you. I understand you know Richard Branson. I offer specialized marketing services and I am sure his Virgin enterprises could benefit from what I provide. Could you please introduce me to him so that I can show him how this would assist his companies?”

I replied with the following response: “Hi, I’m Ivan Misner. I am sorry. I do not think we have met before. What was your name again?” That surprised the man enough to make him realize his solicitation might have been a bit premature. I continued to explain to him. “I regularly refer people to my contacts, but only after I’ve established a strong, long-term relationship with the service provider”. He thanked me and moved on to his next victim.

Over the years, many people have shared with me their frustrations about strangers who pounce on them at networking meetings and ask for business. However, occasionally someone will share with me that they approve of using “premature solicitation”. Here is one example that I received:

Hunting Networkers

“I don’t happen to believe that you need a relationship with the person you are asking first. What you must have is a compelling story or product/service that would genuinely benefit the referral. The fact that you had not cultivated a relationship with the person has become irrelevant because, more importantly, you had been in a position to help [your contact] benefit from the introduction. If it’s of genuine benefit to the person being referred, I don’t see the problem. Who am I to deny my contacts something good?”

The relationship is “irrelevant”, according to this person. It does not matter if I actually know or trust someone. As long as the person has a worthy product, I should not “deny my contacts something good.”  I absolutely disagree, and I would ask anyone interested in business networking to keep the following in mind:

  • Networking is not about hunting.
  • Networking is about farming.
  • It’s about cultivating relationships.
  • Do not be guilty of premature solicitation.

Farming Networkers

This kind of networker is also meeting people. However, they build relationships first, instead of just adding names to a contact list. They are building referral sources to people that were referred to them by their strategic alliances. Proper networking is about taking the time to cultivate relationships. Use networking opportunities to first meet people, Then schedule additional times to connect and build trust with them. Do not ask someone for a business referral until you feel confident that the person knows and trusts you.

Networking is indeed like farming. Commit to mastering what it takes to efficiently and effectively harness the potential in your “relationship crops” and you will reap a bountiful harvest of mutually satisfying relationships and sustainable growth in your business.

Farming for Referrals

If I could impart one piece of wisdom regarding networking and getting more referrals, it would be this: Networking is about farming for new contacts, not hunting them.

It’s a point that needs to be made, because most business professionals go about networking the way our cave-dwelling ancestors went about hunting food–aggressively and carrying a big stick.

You’ll see them at any gathering of businesspeople. They’re so busy looking for the next big sale or trying to meet the “right” prospect that they approach networking simply as an exercise in sifting through crowds of people until they bag the ideal client, the big customer who can turn their business around. They don’t have time for regular people like us; they’re stalking the director of marketing, chief operating officer or other high-octane connection, looking for the big kill.

“Farmers take a different approach. They don’t waste time looking for the right person; instead, like those who plant seeds and patiently nurture their crops, they seek to form and build relationships wherever they can find them. If they get an immediate payoff, that’s fine, but it’s not their principal goal. They know that the effort expended upfront will pay off in a rich harvest later on–much richer then the hunter’s quick kill–and that truly profitable relationships can’t be rushed.

Share your thoughts OR experiences relating to farming vs. hunting in your networking activities.

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