Guest Blog Archives - Dr. Ivan Misner®
Networking Quotient

Build Your Referability Degree and Networking Quotient

Today’s guest blog is an extract from the book, “Networking Quotient” by my good friends and BNI® Leaders, Paulo Corsi and YP Lai, about two immensely powerful measurements that determine the ability of your network to generate business for you, your Networking Quotient and your Referability Degree.

As a networker, have you ever asked yourself how effective your network is in bringing business referrals? And have you ever pondered which strategy will bring you better results? Should you expand your network and get to know more people? Should you build a deeper relationship with the people who are already in your network? Well, the secret to getting the answers is being able to measure your network. That sounds simple, right? However, what is the right measurement to use? The size of your network? The depth of your network? Or perhaps something else?

Let me introduce you to two powerful measurements that determine the ability of your network to generate business for you.

Your Referability Degree

The Referability Degree points out how much of your network is working for you. However, it does not tell you if your network has the right size to generate more business opportunities for you.

The Referability Degree is calculated by dividing the number of contacts in your network who have given you a referral in the last six months and dividing this number by the total number of contacts you have. (e.g., 30 people that gave you referrals / 100 people in your network gives you a Referability Degree of 30%).

  • If you have a Referability Degree of 50% or less:

Your focus should be on developing better relationships with the people who do not regularly give you business referrals. Through nurturing the relationship, you will teach them how to generate referrals for you. At the same time, you will be learning ways on how to create value and bring referrals for the other person and develop a long-term mutually beneficial relationship.

  • When your Referability Degree is above 50%:

You are ready to expand your network. As you expand your network, you should simultaneously strengthen the relationship so that both parties can bring good quality business referrals for each other.

Imagine a person that has a Referability Degree of 90% – which is exceedingly high. However, the size of the network is only 10 people. This indicates that he has deep relationships with his existing contacts but has only an extremely limited network. In this scenario, he must expand his network to more people. A network of 10 people will not be sufficient to create a constant flow of opportunities for him.

Your Networking Quotient

The Networking Quotient is simply the number of people that have given business referrals to you in the past 6 months.

For a continual flow of business by referrals, it is recommended to have a Networking Quotient of at least 100. This means having an active community of at least 100 people that you are constantly in contact with, build rapport with and know how to bring you good quality referrals. Building up your Networking Quotient takes time, and with constant practice, it will become your daily habit.

“Networking Quotient”

Networking Quotient  Paulo Corsi and YP Lai in their book, “Networking Quotient”, share in detail how to calculate the Referability Degree and the Networking Quotient. And more importantly, they share proven strategies to build your Referability Degree and your Networking Quotient.

The eBook / Kindle version of “Networking Quotient” is on sale for $1.99 until 11 pm (PDT) TONIGHT – April 1st, 2021.

 Download the eBook version of “Networking Quotient” today.

 

“Work Less Earn More”

Work Less Earn More

Accompanying the Networking Quotient book, YP Lai has written another book, “Work Less Earn More” about the 10 proven strategies to be wealthier, healthier & happier.

This book acts as a guide for busy entrepreneurs to get their lives into harmony, ensuring that while they are in pursuit of material wealth to provide for the family, they also focus on other important things in life like health, fitness, and happiness.

The eBook / Kindle version of “Work Less, Earn More” is on sale for 99¢ on Amazon until 11 pm (PDT) on April 2nd, 2021.

Download the eBook version of “Work Less Earn More” today.

referral source

Why Clients are not your best referral source

Clients are often thought to be your best potential referral source.  However, Tiffanie Kellog shares why they are not in this guest video blog.

About Tiffanie Kellog

For more information on Tiffanie Kellog, please visit her website at tiffaniekellog.com/

Tiffanie Kellog is a professional speaker, coach, and trainer with Asentiv, and is co-owner of a business with her husband.  Therefore, Tiffanie has helped entrepreneurs over the years make more money while saving time. Thus they can have more fun. She is dedicated to helping others make more money in less time.

To contact Tiffanie, call her at 813-263-9690 or email at referrals@tiffaniekellog.com

Networking Efficiently

Tips for Networking Efficiently by Tiffanie Kellog and Matt Wilkerson (Guest Video Blog)

In this video, “Networking Efficiently”, Tiffanie Kellog, a trainer with Asentiv and author of 4 1/2 Networking Mistakes, interviews Matt Wilkerson, owner of the Verizon store in Williston, FL about how to network more effectivelyand to conduct your networking more efficiently , both by having focus, as well as working with a partner.

Please watch this guest video blog on my YouTube channel:  Ivan Misner: Networking For Success

Name Tags Tips

Name Tags Tips from Tiffanie Kellog (guest blog)

Name Tags Tips from Tiffanie Kellog.

When networking, wearing a name tag is a MUST! However, what you have on your name tag could be hurting you when networking, instead of helping. Join Tiffanie Kellog, author of 4 1/2 Networking Mistakes and consultant for Asentiv, as she discusses what kind of name tag you want to wear when networking. Click here to watch the video. 

 

About Tiffanie Kell0g

For more information on Tiffanie Kellog, please visit her website at tiffaniekellog.com/

Tiffanie Kellog is a professional speaker, coach, and trainer with Asentiv, and is co-owner of a business with her husband.  Therefore, Tiffanie has helped entrepreneurs over the years make more money while saving time. Thus they can have more fun. She is dedicated to helping others make more money in less time.

To contact Tiffanie, call her at 813-263-9690 or email at referrals@tiffaniekellog.com

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!

Don’t Be a Networking Nuisance

Today, I’m excited to share with you a fantastic guest post from my colleague, Founder and CEO of CareerHMO, J.T. O’Donnell.  J.T. is dedicated to helping job seekers from all walks of life to land their dream job and an important aspect of what she coaches them on is networking.

In this video, J.T. explains how not to become a networking nuisance and the number one tip she offers is relevant to all networkers in every part of the world–not just those who are networking for the purpose of finding a job.

So, take a few minutes to watch the video and if you or anyone you know is looking for a job, I highly encourage you to check out the CareerHMO website and all of the free videos on their YouTube page–the educational content they offer for job seekers is some of the best I’ve ever seen.

 By J.T. O’Donnell, Founder and CEO of CareerHMO

I was speaking to a group of job seekers recently about the “new rules” of networking and the following question came up:

“I’ve connected with a lot of people and they’ve all been very helpful in giving me advice and answering my questions. Some even agreed to meet with me for informational interviews. But now, I just don’t know what to do next. I can’t ask them for more help, and I don’t know how to keep the networking going. What can I do to keep them engaged without them feeling like I’m nagging them for help in finding a job?”

This is a common problem job seekers experience. Nobody wants to be seen as a “networking nuisance.” Especially people looking for work, since networking is the number one method for getting a job these days.

What’s the answer? It lies in the scales of justice.

Read More: http://www.careerealism.com/networking-nuisance/ 

 

Brian Tracy on Eating Frogs & the ABCs of Time Management

I woke up today feeling strongly inclined to share this video featuring my good friend Brian Tracy.  Why?  Well . . .

I’m currently in Croatia meeting with my company’s Executive Management Team for a week and “busy” doesn’t even begin to describe how I’m feeling right now.  Just yesterday, one of my employees made a helpful suggestion that saved me a little bit of time and got a side project off my plate and I said to her, “Thank you so much–you have no idea how much I appreciate that suggestion because with everything going on I feel like I’m drinking water from a fire hose!”

It got me thinking about how unbelievably busy we can all get at times and how it can feel almost completely overwhelming–like we’re never going to be able to come up for air, so to speak.  The fact is, time management is often one of the biggest challenges faced by business professionals across the globe and our ability to effectively manage our time can very easily be the single deciding factor between success and failure.  

That’s why I want to share this short video with you.  In it, Brian explains a simple time management strategy that I really believe can be life changing for a lot of people.  It doesn’t matter what kind of business you’re in, if you apply Brian’s strategy, I guarantee you will see an amazing boost in your productivity.  I can’t promise you won’t still feel a little overwhelmed at times but I can say with confidence that using his strategy has at least helped me keep my sanity (which is something I’d like to hold onto for as long as possible, hard as it may seem sometimes 😉 ) and get more done than I previously imagined was possible.

So, what do you think of Brian’s strategy?  Do you have any of your own strategies for time management which you’ve found to be particularly effective?  I’d love to hear from you so please leave your thoughts in the comment forum below.  Thanks!

EatThatFrog

For more information on Brian Tracy, please visit: www.BrianTracy.com

Frank De Raffele: Localism Is the New Patriotism

The following post is a guest blog written by my friend Frank De Raffele (pictured at right below).  It does focus on America; however, I’m willing to bet that it will get you thinking about localism in you own place of residence, no matter what area of the world you live in.

IvanFrank

“Localism Is the New Patriotism” by Frank De Raffele

Did you know that in 2010 the American people said that they trusted the small business owner over 13 other institutions? According to the Pew Research Center, 71% of those surveyed said that they trusted small business. Only 22% trusted banks & financial institutions and 24% trusted Congress (well no surprise for those two). Large Corporations and the Federal Government were tied with only 25% of the people trusting them. This is interesting; another tie between Federal Government Agencies and National News Media at 31%. Hmmmm. Does that mean people think the News Media and “certain” government agencies are in bed together? I wonder. 32% trusted Labor Unions and 33% trusted the Entertainment Industry. (Those poor innocent actors.) Here is one that is not just surprising but shocking and about to cause a stir of controversy among you and your friends, family and co-workers: 45% trust the Obama Administration! (I am anti-political so this is not a judgment just an observational comment.) Our beloved Colleges and Universities, 61% had trust in them. Church and Religious organizations came in third at 63%. What was above them you ask? Technology companies at 68% and YOU the Small Business Owner at 71%. Imagine that, you are now more popular than God! Didn’t a Rock Band once say that about 40 years ago? Don’t let your ego get too big and start increasing prices by 20%. We don’t love you that much.   Makes you think though. When people are shopping (at least in 2010) were they saying, “Hmm, a sweater or Jesus? Shoes or Jesus?” I wonder?   Now, before you start sending me hate mail, you do know I am joking about the whole being more popular than God and deciding between Jesus and a good pair of shoes, don’t you? But…..a nice car?

On a more serious note, this is great news. It means that with all that has gone on in the last couple of years, that we the consumers believe in our local business owners. It shows that people understand that Localism is a key to our success as a community, a region and a nation. As a capitalist, entrepreneurial society, the support of our local small business entrepreneurs is of the utmost importance.

The question is, why? Why do you think that the American people trust the small business owner over almost every other institution including: Police, Educational Institutions, Religious Institutions and the Media? Because your local. Because you are one of them. Because they know you, trust you and like you. We the American People understand that supporting each other is the key to our success. Our country cannot exist with a selfish mentality. We understand, now more so than ever, that we must give to each other. We must support each other. And from a monetary standpoint, that begins with buying locally. Supporting our local small business entrepreneur. Therefore, if I really love this country the best way to show my patriotism (besides being one of our troops, God Bless Them) is by shopping in my locally owned business.

As a small business owner, what does this mean to you? Now that you know this, how do you capitalize on it? Keep up your marketing, but more importantly get yourself out in front of your local neighbors. Make sure you are involved in the Chamber of Commerce, Lions or Rotary or Kiwanis. Volunteer for local charities or get on boards, be a member of BNI. The more people know you, trust you , like you, the more they will want to give their money to you versus someone else. YOU don’t need to tell them to buy local. You need to show them that you are local. Let them see you out participating, helping and making a difference. Show that you live locally and that your kids go to school here. Hire locals to work with you. The more invested they see that you are in the community the more they trust you. The more “you the business owner” becomes one of us, the local people who need to spend our money wisely.

No, you’re not bigger than God or The Beatles. But you are important to us, your neighbors. I want to know that you respect my money. I work hard for it, very hard. I don’t mind spending it, but I HATE giving it to businesses that don’t respect it. I will not buy just based on price, I will purchase based on the value you show me. If it costs a little more from you versus the “Big Guy” down the street, I will spend with you, if you show me the value.

Localism being the New Patriotism is great news for all of us. But as the business owner you now have a greater responsibility to prove yourself to your customers, not less. We are putting our trust in you and supporting you; Don’t Blow It! If you take advantage of me, I will not only never do business with you again….I will make sure all I know and some I don’t, never do business with you as well.

We are Patriotic. We are Loyal. We are Committed. But we won’t be taken advantage of. America is an amazing place with amazing people. People that are full of positivity, dreams and cheering for the underdog. In the last couple of years we have been the underdog and we have been cheering hard and working harder. We are clawing our way back and we will be better than ever before. Let’s continue our new form of Patriotism by being stronger and stronger supporters of our local businesses. In this case especially, when one wins, we all win!

What Does a Mountain Bike Have to Do with Networking? A Lot, Actually . . .

In this quick video, Referral Institute® Partner & President Mike Macedonio, who is also a good friend of mine and an avid mountain biker, explains an excellent metaphor he came up with about mountain biking and networking. 

Not only does Mike do a great job of explaining how aspects of mountain biking are very similar to networking, he also manages to do something that’s quite remarkable . . . he talks me into getting on a mountain bike ! 😉

After watching the video, ask yourself about your own networking group–does it have all the key components to function and gain momentum like a well-built, lasting mountain bike?

Also, I’m really interested in hearing any networking metaphors you’ve come up with during your networking career--I’ve heard some very creative ones over the years and they always get me thinking so I love hearing new ones.  Please share your ideas in the comments section . . . who knows? . . . I might just be asking you to do a future guest blog!

Tom Connellan: Improving Your Personal & Professional Life Is a Piece of Cake!

(Dr. Thomas K. Connellan, New York Times Bestselling Author)

I’ve been recommending a book by Tom Connellan, Inside the Magic Kingdom, for years and I have great respect and admiration for Tom’s wisdom and his work–today, I’d like to share with you a guest blog written by Tom.

 

The Next Big Thing Is Small, Completely under Your Control

Something You Can Do Right Now Which Produces Massive Results in 71 Days

Could you improve some aspect of your personal or professional life by 1% by this time tomorrow?  Of course you could!

At the close of my keynotes over the past 48 months, I’ve asked thousands of people that question.  In all that time, no one has ever said, “Nah, I can’t make a 1% improvement–not in a day, anyway.”  The response has been just the opposite: “Only 1%?” . . . “That’s doable.” . . . “Piece of cake.” . . .”Anyone can improve something by 1% in a day–probably more.”  These responses are exactly right–it IS a piece of cake.

Let’s take an example of something a lot of people want to improve: their listening skills.  You could be 1% better at listening to other members of your networking group at your next meeting.  You could be 1% better at listening to your clients, colleagues, and the people who work for you.  You could be 1% better at listening to your kids, your spouse . . . you get the idea.

The best part?  If you improve by just 1% every day, in 71 days you will be twice as good.  If you think you can’t last 71 days, then in just 42 days, you will be one and a half times as good.  (And once you see the difference it makes in your life, I bet you will keep going.)

Just as compounding interest grows your bank balance even if you add only small deposits, making daily bite-sized chunks of improvement brings an outsized boost to your skill level.  Imagine the edge you would have over your competitors if you were twice as good at listening to your clients’ needs and your colleagues’ ideas.  Think of how much better your relationships would be if you were deeply listening and communicating with the people you love.

It’s true.  The next big thing is 1% and making a 1& improvement is easy. 

So, why isn’t everybody doing it already?  Because not making a 1% improvement is even easier.  Inertia holds us in place.  As Newton said, a body at rest stays at rest.  We make up all sorts of excuses for not starting now, or tomorrow, or the day after that.

The only way to get past inertia is to put yourself in motion.  Go ahead and make that first 1% improvement.  The game will begin to change.  You will overcome inertia and start gathering momentum, because a body in motion stays in motion.

All you have to do is start.  Now.  Pick something that matters to you.  Choose to be 1% better.  It probably won’t even take a day–more like a minute.

So just start!

What do you think of this guest blog by Tom?  Please leave your feedback in the comments section. 

To find out more about Tom Connellan, please visit: www.tomconnellan.com.

The ‘Profitability Ninja’ & The ‘Samurai of Innovation’

Last week I posted the first part of a series of guest blogs sharing the article “Creativity vs. ‘Innovativity'” by Frank DeRaffele.  Below is the continuation of where the article left off last week.

“Creativity vs. ‘Innovativity'” by Frank J. DeRaffele Jr. ( . . . Continued — CLICK here to read Part 1)

So how do we save ourselves from this Ninja?  Enter the Samurai of Innovation. This Innovative Samurai (dressed in white, by the way) cuts through the creativity and reveals Innovative Thought, Innovative Ideas, Innovative Profitability.

Innovation is the good twin of creativity.  Innovation is creativity with focused and applied business value.  It knows how to see, analyze, evaluate, measure, and decide if this creative thought is able to become Business Innovation or if it will stay as Creative Waste.

As creativity is both a strength and a weakness to us as small business entrepreneurs, we must learn and develop the skill of how to take our creative thoughts and see if they can become innovative bottom line value.

A creative thought may be a wonderful idea but it has no direct relation to a solution.  Not that it is not of value, because it may have great value, but it may not be of value NOW.  When it is not of direct value, we open the gate for our Profitability Ninja to enter.  The question is, how do we define value? In its most simple form, we can answer this question by asking — Does this creative idea relate directly to a current problem that we have and will it help us solve the problem in the way we would like?

For example, let’s say you own a retail store.  You measure your success by the number of transactions you do on a daily basis and by the dollar volume of each transaction.  Currently you are very happy with the number of transactions but you would like to increase your average dollar per transaction.  Most customers that purchase from you spend an average of $55.00 (USD) per transaction.  You would really like to get that number up to $65.00 (USD) per transaction.  This means we need to look at up-selling, cross-selling, and the packaging of products.  As you start to think about this, you come across an idea of a great new way to do a direct mail piece to a new target market.  You know that if this new direct mail piece works, you will attract a new client base to your store.  This new client base is exciting because you haven’t focused on new target markets for quite a while and by expanding into . . . WAIT A MINUTE! What does this have to do with increasing your average dollar per transaction?!  The answer is . . . NOTHING.

What just happened here?  Yes, it was the Profitability Ninja. He snuck in and started you thinking down a new path.  He got you to come up with a great new idea and while getting excited about that idea, he made you forget that your real problem is Average $/Transaction . . . NOT Number of Transactions.  Do you see what I mean?  This new idea may not be a bad idea–in fact, it may be a good idea . . . however, it is not helping to solve the current problem at hand.  By not keeping your focus on Direct Resolutions to your problem, your profits will go into the red.

Come back next week to read the final installment of Franks article, “Creativity vs. ‘Innovativity,” and learn how to recognize ‘innovativity’ to maximize benefits from creativity and help your business soar. As always, if you have a comment to share, I’d love to read it so please leave your thoughts in the comment section.

Creativity vs. ‘Innovativity’

My friend Frank DeRaffele Jr., whom is also one of the co-authors of my upcoming book Business Networking and Sex, shared with me a great article he recently wrote called “Creativity vs. ‘Innovativity'” and I’d like to share it with all of you who read this blog.

Frank makes some very interesting points about the importance of balancing creativity and innovation in regard to small business and I think small business owners and entrepreneurs everywhere will benefit from reading this article.  Since the article is quite lengthy, I’m going to divide it into a few different guest blogs so, if you like what you read in the remainder of this blog entry, be sure to stay tuned for the follow up guest blogs featuring Frank’s article.

“Creativity vs. ‘Innovativity'” by Frank J. DeRaffele Jr.

As Small Business Entrepreneurs (SBEs), one of our greatest strengths is our creativity.  Coming up with new ideas . . . ALL THE TIME.  However, one of our greatest weaknesses is our creativity.  Coming up with new ideas . . . ALL THE TIME.  For most of us, we have too many ideas, too often.  Oh, the paradox!  We tend to like the new idea, the new concept, the new Ah-ha!  The problem with this creativity and these great ideas is that we tend to be great out of the gate but lose power on the follow through.  I am not saying that we should not be creative.  I am not saying that creativity is a bad thing.  I AM saying that creativity can be a time stealer, distraction, justification, and crutch.

Ninja vs. Samurai

Most of us SBEs love the freedom that we have to come up with new ideas and then implement them as quickly or as slowly as we like.  We love the fact that if and when we get bored with this new idea or we feel it is not panning out as we hoped, we can just drop it and move on.  After all, we have no one to answer to.  “I can do what I want, when I want to, and no one can tell me otherwise” we think to ourselves.  This is true.  Very true.  In fact, TOO TRUE.  This freedom we have ends up becoming our Profitability Ninja.  This Ninja disguises himself as strength and confidence, happiness and joy.  Yet, behind his mask is the true assassin.  The Ninja who will kill our profits.  He begins to steal our profits and we don’t notice it.  We may not notice it for weeks, months, or years.  We mostly don’t notice it because either he is too close to us or we just refuse to see him.

This Ninja steals by keeping us focused on new projects that really haven’t been well thought out.  Investing time, energy, man hours, relationships, and money, with little to no return.  This is when the Dark Ninja turns into the Red Ninja.  We are metaphorically bleeding.  We are now going from profitability to loss (Black Ink to Red Ink).

So how do we save ourselves from this Ninja?  Enter the Samurai of Innovation . . .

Come back next week to read more of Frank’s article and learn about the “Samurai of Innovation.” In the meantime, if you have any comments to share about this first article installment, please feel free to share them here.

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