relationships Archives - Page 4 of 7

3Jun2013

Speak to Be Heard and Hear to Know How to Speakstring(47) "Speak to Be Heard and Hear to Know How to Speak"

Peter Drucker once said, “The most important thing in communication is to hear what isn’t being said.” This is so true and extremely important because the quality of our relationships depends on the quality of our communications; and when it comes to sales for your business and growing your business through referral marketing, this concept is a cornerstone for success.

Of course, not all sales transactions require incredible relationships or communication (e.g., online shopping), yet even big box stores like Wal-Mart–not known for warm customer relations–illustrate the value they place on communication and relationships by employing a visitor host to greet customers at the entrance of their stores.

Sara Minnis, a friend of mine, has often dealt with a phobia many sales people face within the sales process by coaching salespeople who are afraid of being rejected by a prospect or customer. She says, “Sales ‘phobics’ might have an unrealistic fear of being rejected during cold calling, during the closing phase, or on a phone conversation.” This, she suggests, is because the phobic salesperson tends to focus their communication on the emotional fit between themselves and the customer. She explains, “The real business of selling can’t begin until the sales phobic feels that the prospect likes him or her.” To avoid this, she says, “The professional seller directs her communication toward finding a fit between her product and the buyer’s need. Focusing on being liked only enhances fears of personal rejection, while attending to the customer’s needs drives the transaction toward a closed deal.”

Sellers in strong relationships with their clients have a competitive advantage because the client feels connected or bonded to the seller. The single most important tool sellers use to establish a connecting bond with another person is communication. In fact, building a bonded relationship is completely dependent on having quality communications with another individual.

The art and science of communication is more than talking and hearing words. There are many strategies and techniques aimed at earning the right to have your message heard. If you can communicate at a level that matches the customer’s style rather than your own, you will be well on your way to masterful sales conversations.

Masters of sales today assume more of a consultative perspective to their selling work. In fact, many box retail stores use the term “sales consultant” to describe the store clerk of yesterday. Master sales consultants know that their ability to communicate is critical to selling client solutions, because rapport and trust, the cornerstones of selling, are built or lost based on communication.

So what can you do this week to improve your communication skills in order to speak to be heard and hear to know how to speak (e.g., joining a Toastmasters club, reading books like Dr. Mark Goulston’s Just Listen, etc.)? I’d love to hear your ideas in the comment forum below

20May2013

Seeking Engagement: A Critical Step for Networking Groupsstring(57) "Seeking Engagement: A Critical Step for Networking Groups"

Engagement involves a promise and an action. In order to achieve success in your group of networking relationships, you and your relationships must promise to support one another and then take the actions necessary to fulfill that promise.

There are many ways that you can become engaged. Have you taken the time to regularly meet with the people in your network? Have you taken the time to educate them regularly on the key features of your business so that your products or services will be top of mind in the event they meet someone with a need for what you supply? Have you taken the time to become educated on the key features of your networking relationships’ businesses so that you can do the same?

The higher the number of people in your network who are engaged in these activities, the more likely it is that the entire group will be generating more referrals. The reason for this is a shared vision of success and a shared implementation of that vision.

Another way to be actively engaged and educated about each others’ businesses is to do regular and consistent meetings. Over and over, I see that business owners who have regular one-to-one meetings with their business networking relationships tend to both give AND get more referrals.

Lastly, are you focusing on your “elevator pitch”? The best way to ensure your referral sources are going to remember what you do is to focus on communicating your business to them by breaking it down into laser-specific elements. Sharp-shoot your pitch, don’t shotgun it. In each of your regular one-to-one meetings, talk about one key element, product, or benefit of what you do.

According to Psychology Today, research has found that people who are “actively engaged” in a business environment are “43% more productive” than those who are not. Furthermore, they state that engagement includes “regular dialogue, quality of working relationships, perceptions of ethos and values of the organization, and recognition.” There’s research behind my recommending reciprocal engagement between you and your referral partners. In fact, it’s critical to your success–and theirs.

This week, think about new ways in which you can support your networking partners in order to promote engagement within your networking group. I’d love to hear what ideas you come up with so please leave your thoughts in the comment forum below. Thanks!

6May2013

Does Your Networking Group Put Enough Emphasis on Quality?string(58) "Does Your Networking Group Put Enough Emphasis on Quality?"

In order for a networking group to be successful and thus ensure optimum networking results for each of its members, the first thing the group needs to do is ensure they are embracing quality.

Embracing quality means being very selective about who you bring into the group. The only people you should be inviting into the group are quality business professionals who have a positive, supportive attitude and are good at what they do. If an individual does not meet these criteria, they should not be permitted into the group, period.

Effective networking is dependent on the quality of the relationships are developed within any given networking group, therefore it should go without saying that embracing quality also means building deep relationships among all referral partners in order to generate more referrals. If your network is a mile wide and an inch deep, you won’t be getting the referrals you expect.

Another aspect of embracing quality is ensuring quality participation which means there absolutely must be accountability within the group. One of the greatest strengths of a good network is that many of the members are friends. One of the biggest weaknesses, however, is that . . . well . . . many of the members are friends; friends don’t generally like to hold other friends accountable. You need to remember, as do your fellow networking group members, that the purpose of your group is not to be a friendship club–your purpose is to be a referral group and in order to generate quality referrals, all members of the group must hold each other accountable for maintaining quality participation.

If you expect the best from your fellow referral partners, you’ll get it. Likewise, if you expect less than the best from them, you’re guaranteed to get that as well. Why accept mediocrity when excellence is an option? Accountability within a group will help all involved to achieve excellence.

The last part of embracing quality is applying the Givers Gain® philosophy within the networking group (i.e., when each member focuses on helping their fellow members achieve goals, gain referrals, and grow business, their fellow members will reciprocate by helping them back in the same way). The more members who live this philosophy (particularly as it relates to referrals), the more successful a group will be.

How does your networking group currently excel at embracing quality? Which aspects of embracing quality could your group stand to improve upon? Please share your thoughts in the comments section and I’ll be more than happy to offer suggested solutions to any challenges your group may be having with putting enough emphasis on quality. Thanks!

22Apr2013

No Time for Small Talkstring(22) "No Time for Small Talk"

People often mistakenly perceive what goes on at networking meetings and events as making small talk with a bunch of strangers. Real business networking , however, isn’t about making small talk at all; rather it is about building meaningful, mutually beneficial relationships with other business professionals and small talk isn’t generally something that helps further this aim. Serious networkers, recognizing that they have limited time to introduce themselves and convey the essence of what they do, generally avoid lengthy small talk.

If you want to build your business through word of mouth, you must give a message that’s heard by others. You need to create a positive message and deliver it effectively–who are you, what do you offer, and to whom do you offer it? When you properly position yourself with an effective message instead of trying to connect through making small talk, you save time because others quickly understand what your company represents and offers.

Take the time to plan your introduction and prepare some concise and descriptive overviews of your products or services. Then, when you meet someone for the first time, you can give him a good explanation of what you have to offer. I recommend that you develop several scripts that you can readily use when attending networking meetings.

Show pride in who you are and what you do. As an example of this, I often mention a fantastic quote from Martha Taft. When she was a young girl in elementary school, she was asked to introduce herself to a group of people. “My name is Martha Bowers Taft,” she said. “My great-grandfather was President of the United States, my grandfather was a United States Senator, my daddy is Ambassador to Ireland, and I am a Brownie.”

If you have honed your message and have crafted an introduction which has been very effective for you at networking functions, I encourage you to share it in the comment forum below and to explain how you went about constructing your message and your introduction. You never know who you’ll help by sharing your insights. Thanks!

10Jan2013

Movie Producer Barnet Bain: Emotionally-Charged Connections are Crucial to Your Successstring(87) "Movie Producer Barnet Bain: Emotionally-Charged Connections are Crucial to Your Success"

Last October, I posted a video I did with referral marketing expert Eddie Esposito on emotionally-charged connections (CLICK HERE to view that video). On a recent vacation in Bali, I had the opportunity to do this new, five-minute video with movie producer Barnet Bain (producer of the Academy Award winning film “What Dreams May Come”) which is a perfect follow-up video to the one I did previously with Eddie.

Here, Barnet shares his two-step process for unlocking the key to being able to connect emotionally with others in a way that always focuses on helping and supporting them which Bain emphasizes is critical in order for you to succeed in your own business, life, and relationships.

I find this process fascinating and it would be extremely powerful if, after watching the video, you would be willing to share in the comment forum what you learned about yourself upon completing the two-step process and also what you discovered as far as how you might better be able to form emotionally-charged connections with others based on your own unique experience.

To lean more about Barnet Bain, please visit www.BarnetBain.com.

10Dec2012

A Closer Look at What Networking Really Meansstring(45) "A Closer Look at What Networking Really Means"

Back in October, I posted a brief video in which Dawn Lyons, Mike Macedonio and I discuss the new definition of networking (Click on the graphic below to view the video.). Today, I’d like to provide much more detail and further clarification regarding this new definition.

Twenty years ago, I wrote a book called The World’s Best Known Marketing Secret. In it, I discussed several terms new to the business community, specifically about how they could help grow a business. One term that seemed to have multiple meanings concerning business growth was “networking.” For some, networking was about compiling a huge database of names, usually by collecting business cards. Others saw networking as the opportunity to get in front of people and personally prospect for business. Still others perceived networking as nothing more than schmoozing and boozing, with no specific intention except to be seen and socialize.

So in an attempt to streamline the myriad of perceptions about the concept of networking, and based on my experiences in a variety of business and interpersonal situations, I concluded that networking was, in effect: “The process of developing and using your contacts to increase your business, enhance your knowledge, expand your sphere of influence or serve your community.”

This definition stood the test of time for many years, until. . . it didn’t. Since then, I co-founded an organization called The Referral Institute with two partners, Mike Macedonio and Dawn Lyons. Based on our collective experiences in helping people across the U.S. and around the world build a system for getting referrals, we realized that the definition of networking needed to evolve. The new, updated meaning would reflect the changing times and business climate. There were definitely some truths in the original definition that needed to be retained, but a few just no longer felt right.

One we wanted to address was “using.” Today, this sounds rather harsh, even cold. People today tend to find a negative resonance in the concept of “using” someone for personal or professional gain. The other word we scrutinized was “contacts.” The term has become synonymous with one’s database. And a database is, by design, impersonal, practical and, again, rather cold. After many discussions about modifying the definition, we came up with what I feel is a much truer representation of the concept of networking:
“The process of developing and activating your relationships to increase your business, enhance your knowledge, expand your sphere of influence or serve the community.”

The changes may seem small, but they are significant. When one “activates” relationships, it’s a much more dynamic, interactive, give-and-take type of engagement with others than simply “using” the relationships. Using is a one-way street, while activating is a major two-way highway. It’s just much more powerful, more true to who we are – or need to be – today, if we want to succeed at truly engaging with our relationships. People who network in this way show markedly better results than the “users.”

About the paradigm shift from “contacts” to “relationships:” For many years, I’ve talked about the “hunting versus farming” mentality when it comes to growing a professional network. The “hunters” run from one business event to another, grabbing and passing business cards with very little interaction past that, diligently add the card to their database (read: “contacts”). Then they run out again in search of more to add to the ever-growing list. The bigger the list, the better they’ve “hunted” and, in their often-misguided opinion, the better their “network.”

But let’s think of the farmers, the ones who cultivate steady, growing, genuine and authentic relationships with the people they feel are important to include in their network. They have a steady back-and-forth of interactions that benefits not only them. Everyone involved is rewarded. Why? Because the time taken to really get to know people enough to make a relationship means that when it comes time to make a referral, it’s much easier to call upon them.

By simply changing a couple of simple words in my original definition, we were able to fine-tune it into what we believe is the true meaning of effective networking. Our revised definition is much more congruent with the style of networking we teach every day, and what we know really works.

To be successful with business networking, you should understand that it is really about helping others as a way of growing your business. The people you help are more willing to help you or connect you to people they know. So in essence, networking is part of the process you go through to build a referral-based business. Through networking, you can deliver your positive message effectively. Referrals are the end result.

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.”

23Nov2012

The 5 Levels of Relationships to Understand for Networking Successstring(66) "The 5 Levels of Relationships to Understand for Networking Success"

Earlier this month, I had the opportunity to speak with my good friend Andy Hart, a networking expert from Ireland, at the BNI International Conference in Long Beach, CA. Andy is a true master of networking and in this short video, he explains the Levels of a Relationship and how having a huge network of contacts doesn’t necessarily mean you have a huge pool of contacts from which you’ll actually gain business.

Andy discusses five main relationship levels in regard to business networking and the possibility of generating referrals from those in your network of contacts; more importantly, he outlines a simple exercise which will enable you to pinpoint which relationship level you are currently maintaining with each of your contacts.

After carrying out the exercise Andy suggests, please come back and share your findings–were they what you expected, or were you surprised by what you discovered?

15Oct2012

NetTime: How Much Time Should You Spend Networking?string(51) "NetTime: How Much Time Should You Spend Networking?"

The secret to getting more business through networking is. . . spending more time doing it! OK, well, it’s a little more complicated than that because you have to spend time doing the right things. However, devoting the necessary time is the starting point. So how much networking time (or NetTime) should you spend developing your personal network and what kind of results can you expect to see?

Based on a survey that I helped to write and conduct of over 12,000 business professionals from every populated continent in the world, we finally have a definitive answer to those questions. The study found that people who said “networking played a role” in their success spent an average of 6.3 hours a week participating in networking activities. On the other hand, the majority of people who claimed that “networking did NOT play a role” in their success spent only 2 hours or less per week developing their network.

Clearly, those people who spent very little time engaged in the process felt that networking was not an effective way to build their business. As with many other aspects of life, you clearly reap what you sow. It’s no wonder that the people who didn’t invest as much time also did not realize as much reward. This demonstrates the direct correlation between the amount of time you devote to the networking process and the degree of success that you will likely realize from it.

The typical person in the survey who spent a little over six hours a week networking generated almost 47 percent of all their business through referrals and networking activities. Of the 12,000 global participants in the survey, women spent less time networking (6.19 hours compared to 6.44 for men), yet generated a higher percentage of their business through the process (49.44 percent compared to 43.96 percent for men).

Why would women spend less time and get a higher percentage of their business from referrals than men? Well, we discovered that men tended to be more transactional in their networking activities. That is they were more likely than women to be focused on the “business first and the relationship second.” On the other hand, women were more likely to be relational in their networking activities. In other words, they were more likely than men to “focus on the relationship first and do the business second.”

An emphasis on relationships first was clearly and undeniably a key factor in determining whether people were going to identify networking as having played a role in their success. When we looked at the responses from all the participants who said that networking had played a role in their success and then compared them to those people who focus on relationships first, we discovered that the majority of respondents who felt they’ve achieved success through networking also felt that it was better to build the relationship first and then focus on the business. Consequently, regardless of gender, business professionals who focused on the relationship first and the business second tended to do better than those business people who focused on the business first.

In other words, relationships beat transactions when it came to networking. The reason that women seem to have done better in the global study was that women tended to be more relational then men.

Those who skip the relationship building and attempt to establish an “all business” interaction often discover that trust and goodwill are more than just window dressing – they are part of the social capital that energizes a mutually rewarding business relationship. People who bypass relationship building are more likely to feel that networking has not contributed to their success, and they are probably right – because they’re doing it wrong or at least not doing it enough.

You may be reading this article and thinking – OK, I now know that I need to be spending at least 6 ½ hours a week networking. Well, that’s true IF you want to be average (and what successful business person wants to be average)! If on the other hand, you’d like to be above average – you need to devote more time than that to the cause. The optimum amount of NetTime is more likely to be 8-10 hours a week if you want to be one of those people that are generating well over half their business from referrals.

How much NetTime do you spend each week? More? Less? and what percentage of business (total) do you get from your networking efforts? Comment below.

31May2012

Women Are the New Menstring(21) "Women Are the New Men"

I was recently interviewed by Bill Moller on the “First Business” news show about men and women in business.

The host said that “women are the new men.” It’s an odd statement, I know, but I promise that if you take a mere three minutes out of your day to watch this video clip of the interview, you’ll understand what he means by this and you might not think it’s such an odd statement after all.

I came to the conclusions I talk about in this interview based on many recent statistics and findings by esteemed business publications and I think it’s a really interesting and noteworthy topic. What are your thoughts on this? Do you agree? Disagree? . . . I’d love to hear your input so, by all means, please leave your thoughts in the comments section.

17May2012

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.

7May2012

How Do Cultural Differences Play into Global Networking?string(56) "How Do Cultural Differences Play into Global Networking?"

Understanding cultural differences when doing business around the world is becoming more important in a global society. Even within large countries like the United States, there are definitely differences from one region to another. When you go beyond that and look at one country vs. another, the differences become even more impactful on business.

When we concentrate on similarities with each other in business, the differences aren’t that important. Problems arise when the differences appear to be all there are. When entrepreneurs focus on the perceived differences between each other in business, these differences can become stumbling blocks to developing a strong relationship, which is, after all, the ultimate goal of networking. When you factor in differences in communication and behavioral styles it exacerbates the perceived differences.

Although many networking basics are universal, if you can factor in these and other cultural nuances you will definitely get a leg up when doing business in other countries. Your networking etiquette will be greatly appreciated as your business increasingly takes you into other countries, especially if you can learn a few words or commonly practiced traditions of that country. Showing this kind of respect will go a long way in making a smoother connection with the local business people you are trying to work with.

The old saying “When in Rome, do as the Romans” is very appropriate. However, one thing I’d strongly suggest–don’t just “do as the Romans,” take the time to actually “ask a few Romans.” I have had amazing suggestions from local business people I knew in other countries who thoroughly prepped me for the cultural differences in networking prior to my arrival in their country. Their counseling and coaching made a huge difference in my ability to connect in an appropriate way throughout many of the countries I have visited.

Be sure to come back next week where I’ll be sharing some valuable tips I’ve picked up about doing business and networking within the Asian market. In the meantime, if you have any useful tips or bits of advice for successfully networking in a certain country or region of the globe, please–by all means–share this information in the comments section. You never know who you could be helping!

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