"Navigating the VCP Process to Networking" Archives

15Mar2018

The Three Phases of Networking: The VCP Process®string(49) "The Three Phases of Networking: The VCP Process®"

March 15, 2018

"Navigating the VCP Process to Networking", Credibility, Profitability, VCP, VCP Process(R), Visibility Credibility, Profitability, VCP Process, Visibility 1

I have written about this concept in many of my books but I’ve never done the full description here on my blog. So – for the first time, here’s a thorough description of the three phases of networking: The VCP Process.

The key concept in referral marketing is relationships. The system of information, support, and referrals that you assemble will be based on your relationships with other individuals and businesses. Referral marketing works because these relationships work both ways: they benefit both parties.

A referral marketing plan involves relationships of many different kinds. Among the most important are those with your referral sources, with prospects these referral sources bring you, and with customers you recruit from the prospects. These relationships don’t just spring up full grown; they must be nurtured. As they grow, fed by mutual trust and shared benefits, they evolve through three phases: visibility, credibility, and profitability. We call this evolution the VCP Process^®.

Any successful relationship, whether a personal or a business relationship, is unique to every pair of individuals, and it evolves over time. It starts out tentative, fragile, full of unfulfilled possibilities and expectations. It grows stronger with experience and familiarity. It matures into trust and commitment. The VCP Process describes the process of creation, growth, and strengthening of business, professional, and personal relationships; it is useful for assessing the status of a relationship and where it fits in the process of getting referrals. It can be used to nurture the growth of an effective and rewarding relationship with a prospective friend, client, co-worker, vendor, colleague, or family member. When fully realized, such a relationship is mutually rewarding and thus self-perpetuating.

Visibility

The first phase of growing a relationship is visibility: you and another individual become aware of each other. In business terms, a potential source of referrals or a potential customer becomes aware of the nature of your business – perhaps because of your public relations and advertising efforts, or perhaps through someone you both know. This person may observe you in the act of conducting business or relating with the people around you. The two of you begin to communicate and establish links – perhaps a question or two over the phone about product availability. You may become personally acquainted and work on a first-name basis, but you know little about each other. A combination of many such relationships forms a casual-contact network, a sort of de facto association based on one or more shared interests.

The visibility phase is important because it creates recognition and awareness. The greater your visibility, the more widely known you will be, the more information you will obtain about others, the more opportunities you will be exposed to, and the greater will be your chances of being accepted by other individuals or groups as someone to whom they can or should refer business. Visibility must be actively maintained and developed; without it, you cannot move on to the next level, credibility.

Credibility

Credibility is the quality of being reliable, worthy of confidence. Once you and your new acquaintance begin to form expectations of each other – and the expectations are fulfilled – your relationship can enter the credibility stage. If each person is confident of gaining satisfaction from the relationship, then it will continue to strengthen.

Credibility grows when appointments are kept, promises are acted upon, facts are verified, services are rendered. The old saying that results speak louder than words is true. This is very important. Failure to live up to expectations – to keep both explicit and implicit promises – can kill a budding relationship before it breaks through the ground and can create visibility of a kind you don’t want.

To determine how credible you are, people often turn to third parties. They ask someone they know who has known you longer, perhaps done business with you. Will she vouch for you? Are you honest? Are your products and services effective? Are you someone who can be counted on in a crunch?

Profitability

The mature relationship, whether business or personal, can be defined in terms of its “profitability.” Is it mutually rewarding? Do both partners gain satisfaction from it? Does it maintain itself by providing benefits to both? If it doesn’t profit both partners to keep it going, it probably will not endure.

The time it takes to pass through the phases of a developing relationship is highly variable. It’s not always easy to determine when profitability has been achieved – a week? a month? one year? In a time of urgent need, you and a client may proceed from visibility to credibility overnight. The same is true of profitability; it may happen quickly, or it may take years – most likely, somewhere in between. It depends on the frequency and quality of the contacts, and especially on the desire of both parties to move the relationship forward.

Shortsightedness can impede full development of the relationship. Perhaps you’re a customer who has done business with a certain vendor off and on for several months, but to save pennies you keep hunting around for the lowest price, ignoring the value this vendor provides in terms of service, hours, goodwill, and reliability. Are you really profiting from the relationship, or are you stunting its growth? Perhaps if you gave this vendor all your business, you could work out terms that would benefit both of you. Profitability is not found by bargain hunting. It must be cultivated, and, like farming, it takes patience.

Visibility and credibility are important in the relationship-building stages of the referral marketing process. But when you have established an effective referral-generation system, you will have entered the profitability stage of your relationships with many people – the people who send you referrals and the customers you recruit as a result.

13Oct2014

Using Social Media—“Navigating the VCP Process® to Networking” Seriesstring(76) "Using Social Media—“Navigating the VCP Process® to Networking” Series"

October 13, 2014

Ivan Misner

"Navigating the VCP Process to Networking", Credibility, Networking, Profitability, Social Media, TR Garland, Visibility Credibility, Guest Blog, Networking, Networking Prep, Networking Tactics, Online Networking, Profitability, Social Media, VCP Process, Visibility, Word of Mouth 3

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.”

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®. A while ago, we started a much-anticipated 12-part series of blog posts which addresses this and contains some very timely information for networkers across the globe. Today, we’re proud to share with you Part 12–the final post in this series. Enjoy.

Using Social Media to Navigate the VCP Process®
(Part 12 of the “Navigating The VCP Process® To Networking” Series)

In Part 1, Part 2, Part 3 , Part 4, and Part 5 of this series, we introduced and re-introduced the concept and steps of The VCP Process® to Networking for our readers through brief anecdotes, relevant comparisons, and sometimes even humorous situations. For Parts 6and 7 we even shared with you video trainings from the both of us.

In Part 9, we suggested some behaviors that you can use on a weekly basis to increase the number of referrals you receive. And, as a result, we got a couple phone calls complimenting us about how that particular blog post clearly outlined what type of behaviors a successful networker should be practicing on a weekly and monthly basis – and we were asked to provide more. We fulfilled that request.

In Part 10, we addressed that ‘Mindset’ has as much to do with your success in networking as ‘Skillset’. And in Part 11 we addressed how to deliver effective Introductions & Short Presentations when Navigating The VCP Process® To Networking. And therefore, in this final installment of the series, we found it relevant to address “The Elephant in the Room” – Social Media.

Yes, as experts on Business Networking and Referral Marketing, we’ve been asked time and time again to provide our opinions on how Social Media fits into one’s own Business Networking Plan (…if at all).

So, today, let’s address this “The Elephant in the Room”. Let’s bring out into the open the question that still may be on the minds of many of our readers.

When asked about the topic of Online Networking versus Offline Networking, you may have already heard Ivan share his philosophy that “…it’s not either/or, it’s both/and when addressing this topic”.

Today, let’s dig a little deeper and give you a clearer picture on what’s meant by this, as well as deliver you actionable steps for you to take (as the title of this blog insinuates) to use Social Media to navigate the VCP Process® to networking.

Let’s get started.

An often overlooked tool to navigating the VCP Process® is using Social Media effectively. And, more specifically – Facebook. Now please allow us to clarify. We didn’t say Facebook is overlooked! Lol.

ENTERTAINMENT vs. EXECUTION

We happen to believe that many people are actually addicted to Facebook and spend way too much time using it for ENTERTAINMENT. Whereas, they could actually be using it for the EXECUTION of a well thought out strategy.

Let’s face it. There are professionals out there who you want passing you referrals that are on many of the same Social Media platforms that you’re on. Yet, do you have a Business Networking Plan that addresses this?

Well, would you like to grasp a really quick concept that will help you address this?

For example, let’s assume an ideal referral partner for you is a CPA. And, you recently met a CPA at a monthly networking event such as a Chamber of Commerce mixer. What typically happens is that “life happens” immediately after that event and 30 days go by before you see that CPA again.

From our perspective, it’s going to take a long time to dig deep and build a quality, meaningful relationship and move through the VCP Process® with this person when you only see this CPA twelve times a year.

Therefore, today, we’re recommending you use Social Media to compliment your in-person, face-to-face networking efforts. Yes, if you take action and plan to make strategic “Touch Points” during the time between those mixers, you’ll actually be able to expedite the VCP Process®.

And, who doesn’t want to shorten the cycle from first meeting someone (i.e. Visibility) to building trust with them (i.e. Credibility) to finally getting an actual referral from them (i.e. Profitability)?

Yes, too many people are spending too much time on Social Media for ENTERTAINMENT purposes versus the successful EXECUTION of specific tactics of an overall strategy that will help them drive revenue to their business.

Today, we’d like to make a pretty good case that Social Media shouldn’t be ignored either. Social Media should be considered an intricate part of successfully following your particular Business Networking Plan.

HERE’S ONE SPECIFIC TACTIC YOU CAN USE IMMEDIATELY

Let’s assume an ideal referral partner for you is a CPA as noted above. By connecting with this person on Facebook immediately after meeting them and strategically LIKING or COMMENTING on some of their posts – you will create additional Visibility so that the next time you see this CPA it will actually FEEL like you’ve known each other longer.

Does this make sense? We would love for you to leave your thoughts in the comment forum below.

29Sep2014

Don’t Make a Mess of Your Message — “Navigating the VCP Process® to Networking” Seriesstring(99) "Don’t Make a Mess of Your Message — “Navigating the VCP Process® to Networking” Series"

September 29, 2014

Ivan Misner

"Navigating the VCP Process to Networking", BNI, Message, Networking, Part 11, TR Garland, VCP Process Conversation, Guest Blog, Marketing/Sales, Networking, Networking Prep, Networking Tactics, Public Speaking, Strategy, Success, VCP Process

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.

DON’T MAKE A MESS OF YOUR MESSAGE
(Part 11 of 12 of the “Navigating The VCP Process® To Networking” Series)

In Part 1, Part 2, Part 3 , Part 4, and Part 5 of this series, we introduced and re-introduced the concept and steps of The VCP Process® to Networking for our readers through brief anecdotes, relevant comparisons, and sometimes even humorous situations. For Parts 6 and 7 we even shared with you video trainings from the both of us.

In Part 8, we suggested some behaviors that you can use on a weekly basis to increase the number of referrals you receive. And, as a result, we got a couple phone calls complimenting us about how that particular blog post clearly outlined what type of behaviors a successful networker should be practicing on a weekly and monthly basis – and we were asked to provide more. We fulfilled that request in Part 9.

And, in Part 10, we addressed that ‘Mindset’ has as much to do with your success in networking as ‘Skillset’.

Today, we’re going to build upon all of the varying topics and techniques we’ve used to help you understand how best to Navigate The VCP Process® To Networking.

Let’s begin by asking you a very important question–What is the MOST famous speech in the history of the United States? (Yes…we understand that many of our readers are internationally-based. We appreciate that very much. With that said, please bear with us and you too will be pleasantly surprised by the end of this post at what you’re about to learn.)

Okay. Now back to the question. What’s the MOST famous speech in the history of the United States? Anyone? . . . Anyone? Was it President John F. Kennedy (i.e., JFK) in which he said, “Ask not what your country can do for you, ask what you can do for your country.”? Was it Dr. Martin Luther King (i.e. MLK) in which he said, “I have a dream that one day this nation will rise up, live out the true meaning of its creed: ‘We hold these truths to be self-evident, that all men are created equal’.”? Or, was it Abraham Lincoln (i.e. Abe) in the Gettysburg Address in which he said, “Four score and seven years ago our fathers brought forth on this continent a new nation, conceived in liberty, and dedicated to the proposition that all men are created equal.”? Have your voting ballots been placed? Are you ready for the answer?

Well, it was the Gettysburg Address by Abraham Lincoln. Yep, the Gettysburg Address.The SECOND most famous speech was Dr. Martin Luther King’s “I Have A Dream” and the THIRD most famous speech was John F. Kennedy’s “Ask Not What Your Country Can Do For You”.

Now, here are another 3 questions for you: How long was MLK’s speech? It was 1,651 words. How long was JFK’s Inaugural Address on January 20th, 1961? Well, it was 1,366 words. How long was the Gettysburg Address? . . . Anyone? It was only 272 words. It was only 2 minutes long. It was only 10 sentences. Therefore, one could interpret that it was CLEAR, CONCISE, and COMPELLING. And, by being all three of these, the audience who was listening “got it” the first time Abraham Lincoln delivered his speech. Did you know that there was actually a Featured Speaker that same day that spoke for over 2 hours? We didn’t. And, most people don’t know that either. His name was Edward Everett and this proves our point today.

So, our recommendation to each and every one of you reading this today is to tell this story to your BNI Chapters, Chambers of Commerce, and other Networking Groups you’re involved in.

We understand that many of you are from a variety of different countries. Yet, this doesn’t matter. It doesn’t dilute the important point that’s been made. After you tell your BNI Chapters, Chamber Members, and others whom you network with this story, let them know that you are going to work with everybody to make sure that their “messaging” is CLEAR, CONCISE, and COMPELLING. Because, if it’s not…it simply won’t be as effective in today’s networking environments.

When people are concerned (i.e. fuss and complain) about what to do when the time allotted for their introductions (in BNI they’re called Sales Manager Minutes) gets cut down to 45 or 30 seconds due to a growing group or Chapter….reference this story. When people are concerned (i.e. fuss and complain) about their Keynote Presentations getting cut down from 12 and 10 minutes to 8 and 6 minutes….reference this story.

In closing, let’s take a very valuable lesson from the History Books. If Abraham Lincoln could make such a difference and be remembered decades & decades later after delivering only 10 sentences, what are YOUR 10 SENTENCES that will make a massive impact on your network?
We 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 12 called “Using Social Media To Navigate The V-C-P Process®.”

26Nov2012

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

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:

Who they are
What they stand for and
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.”

29Oct2012

The Fine Line Between Comedy and Competencystring(43) "The Fine Line Between Comedy and Competency"

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®. Nine 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. Today, we’re proud to share with you Part 9 of the series. Enjoy.

THE FINE LINE BETWEEN COMEDY AND COMPETENCY

(Part 9 of 12 of the “Navigating The VCP Process® To Networking” Series)

In Part 1, Part 2, Part 3 , Part 4, and Part 5 of this series, we introduced and re-introduced the concept and steps of The VCP Process® to Networking for our readers through brief anecdotes, relevant comparisons, and sometimes even humorous situations. For Parts 6 and 7 we even shared with you video trainings from the both of us.

Last month in Part 8, we suggested some behaviors that you can use on a weekly basis to increase the number of referrals you receive. And, as a result, we got a couple phone calls complimenting us about how last month’s blog post clearly outlined what type of behaviors a successful networker should be practicing on a weekly and monthly basis – and we were asked to provide more.

Exactly three weeks ago, I posted in this very blog about The Ten Commandments of Networking a Mixer. I’ve been talking about these specific 10 guidelines for years that I recommend people follow when attending Chamber functions, Association meetings, and various business mixers. I’ve been interviewed on radio and television before and many times I bring up these same 10 guidelines. And I’m so committed that they should be a part of a successful networker’s toolbox that these same 10 guidelines are taught in-depth in Referral Institute regions all across the globe.

After reading my recent blog post about the Ten Commandments of Networking a Mixer, TR came to me with a smirk on his face and began some mischievous questioning. He started by mentioning Harvey Mackay’s “take” on the same exact topic. Now, Harvey is a friend of mine and I’ve even invited him to speak to my networking organization before (of course the audience absolutely loved him). So, I proceeded to ask TR where he was going with his questioning.

TR replied, “In Chapter 71 [Yes, Harvey’s books have that many chapters] of “Dig Your Well Before You’re Thirsty”, Harvey writes about The Ten Commandments of Networking as well. And, according to him, Commandment #2 is:

~I will NOT confuse visibility with credibility – mine or anyone else’s~

Ivan, I believe that’s a pretty powerful guideline that successful networkers should follow. Why is this Commandment not included in YOUR list?”

After a very long pause, I proceeded to explain that it’s okay for different people to have different viewpoints. And this led into a very productive conversation about how one person’s viewpoint isn’t correct, and one person’s viewpoint isn’t incorrect – they are just different. And, this leads us to the relevance of the above story into today’s blog post in which we fulfill our blog readers’ request to provide MORE DETAILS on exactly what type of behaviors a successful networker should be practicing on a monthly basis.

In an effort to move their network (or audience) through the VCP Process to Networking®, many business professionals who are members of Strong Contact Networks like BNI meet on a weekly basis. And, each week they are given an opportunity to say something about themselves or their business – usually about 1 to 2 minutes. Every week, these professionals each make a choice on which topic, messaging, and subsequent behavior to display or exhibit while they are addressing the entire group or meeting.

Today, we’d like to bring attention to 2 options one could choose from:

Displaying behaviors to be perceived as LIKEABLE
Displaying behaviors to be perceived as COMPETENT

Which is right? Which is wrong? Which is right for you? Which is wrong for you?

These are all good questions to ask and this leads us back to what my response to TR was earlier which is: One person’s viewpoint isn’t correct, and one person’s viewpoint isn’t incorrect – they are just different. And, let me add – choose wisely.

Therefore, someone who week in and week out chooses to use their 1 to 2 minutes to display behaviors to encourage people to like them is most certainly entitled to do so. Some examples of these types of behaviors are:

Delivering jokes
Performing attention-getting skits
Rhyming
Reciting a poem

However, if you choose these behaviors we kindly ask that you not lose sight of the goal which is to move your network through the VCP Process® from Visibility to Credibility all the way to Profitability. And, if people only know you for your jokes, they may surely like you and remember you (i.e. Visibility) but you may risk not ever providing them with enough information that proves you are good at what you do – which ultimately increases your chance of getting referrals from them (i.e. Credibility).

On the other hand, someone who chooses to use their 1 to 2 minutes to display behaviors to impress people and prove they are good at what they do is certainly entitled to do so. Some examples of these types of behaviors are:

Sharing client testimonials
Announcing achievements
Explaining why they are “better” than their competition

However, if your network only hears sound bites of your successes and don’t ever really get the chance to truly know you as a person (i.e. the likability factor), you may risk alienating yourself as someone only focused on work. Or worse yet, they may consider you boring.

Therein explains the fine line between comedy and competency that today’s business networkers face. And, some may even consider it a challenge. When moving your network through the VCP Process®, it’s recommended that you first get someone to LIKE you through various Visibility behaviors. But, it cannot stop there. It’s encouraged that you then commit to displaying various Credibility-building behaviors so that they believe you have the COMPETENCY in your profession to handle their referrals. Then, you will you increase your chances of consistently pulling your network all the way to Profitability and receiving a steady stream of referrals.

In closing, today’s focus has been simply to expand your thought process on exactly what options you have available to you when it comes to which behaviors you can choose to display to your network on a weekly or monthly basis. Displaying behaviors that allow you to be perceived as both LIKEABLE and COMPETENT is our recommended solution. Combine them together and interchange them back and forth when relevant to make sure your network truly likes you and also believes you will take great care of their referrals. One without the other or used too infrequently may not deliver you the results you expect from your networking efforts.

We 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 10 called “Authenticity is the ‘New’ Audacity.”

23Jul2012

The ABCs of Networking–“Navigating the VCP Process(R) to Networking” Seriesstring(93) "The ABCs of Networking–“Navigating the VCP Process(R) to Networking” Series"

(Part 6 of 12 of the “Navigating The VCP Process® To Networking” Series)

TR Garland (featured in this video with me) 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®. Six 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. Today, we’re proud to share with you Part 6 of the series. in short video format. Enjoy!

Please let us know what you think of the video by leaving your thoughts in the comments section. Thanks!

18Jun2012

Audit Your Activities — “Navigating the VCP Process(R) to Networking” Seriesstring(94) "Audit Your Activities — “Navigating the VCP Process(R) to Networking” Series"

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®. Five 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. Today, we’re proud to share with you Part 5 of the series. Enjoy.

AUDIT YOUR ACTIVITIES
(Part 5 of 12 of the “Navigating The VCP Process® To Networking” Series)

In Part 1, Part 2, Part 3 , and Part 4 of this series, we introduced and re-introduced the concept and steps of The VCP Process® to Networking for our readers through brief anecdotes, relevant comparisons, and sometimes even humorous situations.

Today, we’d like to share with you one laser-focused Power Habit that you can use on a weekly basis to increase the number of referrals you receive. And, that Power Habit is based upon the following underlying Success Principle: It’s not always about the ACT of the ACTIVITIES that one should focus on. It’s the ANALYSIS of those ACTIVITIES that produces your greatest results.

A close friend of ours, Jim Cathcart (www.Cathcart.com), is listed in the professional Speaker Hall of Fame and is a very well-known author and speaker on the topic of Sales. In fact, for 3 years in a row Jim has been selected as one of the Top 5 Speakers on Sales & Service. So, I guess what we’re saying is that we believe “Jim knows his stuff!” And in a recent conversation, he said: “Things that are measured tend to improve.”

It got us thinking that nothing could be truer, especially in the process of getting referrals. Many networkers actually become Referral Institute clients because they want the trainers to hold them accountable for their weekly actions so that they get improved results. We actually steer them towards an amazing online referral tracking tool called Relate2Profit (www.Relate2Profit.com) to help them hold themselves accountable. But for today’s conversation, let’s take baby steps. Let’s talk about something you can do with tools you already have at your disposal…a pen and your Daily Planner.

Our focus is measuring your weekly activities and how they relate to moving people in your network through The VCP Process® all the way from Visibility through Credibility to Profitability.

Here are the recommended steps:

First thing every Monday morning block off 5 minutes.
Write down the names of 5 people who you want passing you steady referrals.
Next, in your Daily Planner block off a 2 minute segment of time for each of the 5 days of the week.
Then, during each of those separate 2 minute segments choose 1 of the 5 people who you want passing you steady referrals.
Finally, TAKE ACTION by doing something to help YOU move that person (who YOU chose) through The VCP Process® to networking on your behalf.

For example, if you are only at Visibility with 1 of those 5 people, what can you do in those 2 minutes to help you move to Credibility with them? Or, if you are only at Credibility with 1 of those 5 people, what can you do in those 2 minutes to help you move to Profitability with them?

At a loss for ideas on what you can do in 2 minutes to help compel someone to pass you referrals? Here’s a brief list of activities that you might want to consider:

Search the web for an article relevant to their professional (or personal) goals and email it to them.
Go to their Facebook timeline or LinkedIn profile and comment on one of their recent posts to show that you care about what they care about.
Send them an email acknowledging that you’re aware of who an ideal client is for them…and let them know you’ll continue to be on the lookout.
Call them up and invite them to accompany you on a meeting you already have scheduled with a prospective client of yours.

As noted above, this is a recommended series of actions that we suggest you implement on a weekly basis. If you do, the COMPOUND EFFECT of these weekly Power Habits will deliver you massive results in the medium and long term with your business relationships.

If this seems too simplistic to you right now, please take special note of the following. In a recent survey over a 12 week period, when asked if they REGULARLY dedicated just 2 minutes for each of the 5 days of the week to perform ANY of the above recommended actions towards staying “top of mind” with prospective Referral Sources…less than 50% of the respondents reported that they did not.

This means that people have identified key Contact Sphere Professionals who should be passing them referrals. BUT, they go weeks and weeks without performing small actions to compel these people to pass them referrals or even to stay top of mind!

Where would you fit into this survey?

In closing, we’d like to recommend you consider that the above Power Habit that can be performed is actually only 15 minutes of your work week. If you work a standard 40 hour week, it’s less than 1% of your time investment for that week. We believe that there should be no excuse for not dedicating 1% of your work week to “staying top of mind” with prospective Referral Sources. Do you agree?

We 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 6 called “The ABC’s of Business Networking”.

20Feb2012

It’s All About Your Mindset–“Navigating the VCP Process(R) to Networking” Seriesstring(104) "It’s All About Your Mindset–“Navigating the VCP Process(R) to Networking” Series"

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®. Today begins the much-anticipated 12-part monthly series of blog posts which address this and contain some very timely information for networkers across the globe. TR and I hope you’ll enjoy the series as much as we enjoyed putting it together.

IT’S ALL ABOUT YOUR MINDSET
(Part 1 of 12 of the “Navigating the VCP Process® to Networking” Series)

Leverage.

Let’s restate that word again out loud because it is the essence of why leading sales professionals and small business owners invest their valuable time in Business Networking activities.

Leverage.

We think that probably the best representation of ‘leverage’ as it relates to the topic at hand is J. Paul Getty’s famous quote, “I’d rather have one percent of the efforts of 100 people than 100 percent of my own efforts.”

You see, the difference between the success or failure of someone who is networking as a way of generating revenue is most likely what their perspective of ‘networking’ is.

Story after story is reported to us about people who believe that if they cease going to networking meetings and mixers every single week that their revenue will STOP. Their perspective is that if they do not maintain a high activity of mixing and mingling with new people that they aren’t ‘networking.’ The truth is that their personal definition of Business Networking appears to be skewed.

Their own description of activities that THEY are performing sounds a lot like selling, doesn’t it?

At its core, Business Networking is “selling through your network, NOT to your network.” Applying the foundational basics includes building relationships first, amassing trust and credibility in time, and then asking for referrals. Don’t expect your network to buy from you. If they do, that’s a bonus – but don’t plan on it or even try to encourage it. It might actually backfire.

We see it all the time. People are attracted to the size of the event (i.e., your city or county’s biggest mixer) or the size of the weekly group such as a local BNI Chapter. These individuals are most likely sales people looking for a Buyer’s Club to help them achieve their quota – nothing more. Once they pitch their network and a small percentage of people buy from them, they consider that group or network tapped out. In this instance, you’ll hear these individuals murmuring, “Oh, that networking group isn’t a good one. I tried it out for 3-4 months, but they don’t pass any referrals.” They then move on to another networking group and repeat the same self-centered activities (i.e., the rinse and repeat).

Once another 3-4 months rolls by again and they tap out that small percentage of kind souls that purchase from them, it’s back on the meandering trail to wander around and find that next networking group…and the next…and the next. This is why we’d like to introduce the moniker The Networking Nomad™ — as it fits this type of person and their behavior.

Remember, Business Networking is more about ‘farming’ than it is about ‘hunting.’ It takes time to cultivate relationships. But once you dedicate the effort, we believe these relationships ultimately allow you to ‘harvest’ referrals for a lifetime.

In closing, we’d like to recommend that you consider reflecting back upon your own networking journey and ask yourself: “Has my definition of Business Networking evolved through the years? If so, what events or insights from others influenced this evolution?”

We 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 2 called “Perception IS Reality!”

Also, we highly encourage you to leave your feedback in the comments section below . . .

16Feb2012

New Blog Series with Top Referral Marketing Trainer TR Garland!string(63) "New Blog Series with Top Referral Marketing Trainer TR Garland!"

In this video, TR Garland and I announce the launch of our new, 12-month, BusinessNetworking.com blog series “Navigating the VCP Process® to Networking,”

TR is not only my good friend, he is one of the top referral marketing trainers in the world and he and I co-authored the #1 Amazon Best-seller Building the Ultimate Network together. I am really excited to be doing this new blog series with TR because he is in the top 1% across the globe in regard to understanding how to implement referral marketing effectively and this series is going to be a huge resource for people in learning how to understand and implement the VCP (Visibility, Credibility, Profitability) Process® effectively to produce real, business-boosting results from networking efforts.

Whether you’re a businessperson, an entrepreneur, a novice or seasoned networker, or simply someone who wants to learn, be sure to come back to this site on Monday (2/20/12) which is when we will be posting the first blog in the series!

So what do you think? Are you as excited about this new series as TR and I are? Leave us a comment and let us know your thoughts . . .