Powerful Networking: Focus on Building Connections, Not Closing Sales

Home
>
Networking
>
Powerful Networking: Focus on Building Connections, Not Closing Sales

Powerful Networking: Focus on Building Connections, Not Closing Sales

You can find numerous references in the business literature about the importance of a company's mission. These sources emphasize that the mission is not to make a profit; that a profit is the outcome of and reward for fulfilling the mission. In the same sense, the mission of networking is not to gain business and close sales. The mission of your networking activities is to make connections, develop relationships, and help others. The outcome of these activities will ultimately be increased business. It's the reward, not the purpose.

Matt Soltis, in his book Strategic Networking, says, "Although an early supporter of business networking, I became quickly disillusioned with it as a mainstay of my marketing plan. I found that something was missing from those long sessions of glad-handing and exchanging business cards. I had collected a pocketful of business cards but little else.

"While I was analyzing my needs and talents it was pointed out by my personal coach that I had a behavioral style that lent itself to chatting, while listening took a back seat. How could I learn if I would not listen?

"At the next opportunity to network, I intentionally listened, never interrupted, and found myself very interested in the other person's business. When I spoke, I asked questions, just a few, but selective so that they elicited answers about the other person's needs. I had stumbled on to the answer I was looking for. I wasn't there to find clients. I was recruiting others to look for my clients and pledging to reciprocate as I learned more about their business. I was participating in something I later described as strategic referral networking."

So how can you approach networking from a prospective that ultimately leads to increased business? First, it is important to understand that developing a network is a process, and it is about building relationships. A key objective of effective networking is to find out about others ? their concerns, problems, needs, and wants.

Become a problem-solver and a resource. Listen for problems you can help others solve, either directly or by referring them to someone else in your network.

Practice the fine art of questioning (and listening). Asking open-ended questions, and really listening to the other person's responses, is one of the most important networking skills. Some key questions or statements you can use to elicit additional information include:

· What would be an example of that?

· Please expand on that.

· Tell me more.

· How do you do that?

Be curious. Develop a true interest in others, what they do, and what they need.

Follow up and stay in touch. Developing a network is not about attending a bunch of meetings, having a meal, and going home. After all, the word "work" is part of "network." Remember, developing a network is a process. Ivan Misner, founder of BNI, describes networking as a process of developing visibility and credibility. Only then will your activities lead to profitability. It may take as many as five to 15 contacts with an individual over a period of weeks, months, or even years to develop the kind of visibility and credibility that leads to profitability.

Look for ways you can support your network members. It's not always about doing business with or even referring business to them. Some ways for you to support your network members include:

· Posting their information on your website or in your newsletter.

· Inviting them to speak at an organization in which you are involved.

· Doing joint promotional projects with them.

· Distributing their information.

· Nominating them for recognition and awards.

· Inviting them to attend events with you.

Arrive early, stay late, and get involved. Take a leadership role in the organizations you are involved in. It's a great way of becoming more visible and developing greater credibility with a larger number of people in a shorter amount of time. Focus on giving, not getting. If you look for ways to assist others, you will be rewarded for your efforts both directly and indirectly in unexpected ways.

Don't keep score. "Successful networking is never about simply getting what you want. It's about getting what you want and making sure that people who are important to you get what they want, too," said Keith Ferrazzi during a January 2003 interview for Inc. magazine. Or as Sandra Yancey, founder and CEO of eWomenNetwork quotes her mother as saying, "Give without remembering and take with out forgetting."

In addition to the ultimate reward of increased business, effectively developing your network will bring you:

· Different prospectives

· Information

· A support team

· Connections

· Strategic alliances

· Access to resources

· Advice and Ideas

· More potential solutions

In his book, Soltis points out another value of networking: the ability to bring your clients value-added relationships through referring them to the right individuals to help them solve all of their personal and business dilemmas ? whether it is a tax question, temporary housing, or a place to board an exotic pet. As you determine the role that networking plays in your business-building strategies, ask yourself these questions:

· How can I assist the members of my network?

· What are their needs?

· What resources can I bring to them?

· What connections can I help them make?

What can you expect if you put in the time and effort required to develop an effective network? To paraphrase Yancey, from her CD, Increase Your Net Worth by Developing Your Network: A strong network brings the power to make things happen and provides a safety net when things aren't going so well.

Julie Chance is president of Strategies-by-Design, a Dallas-based marketing consulting firm specializing in marketing programs including marketing coaching for professional service providers. If you are interested in additional information about how to develop more leads, turn those leads into loyal customers, and obtain a greater return from your marketing investment, Julie invites you to sign-up for their free marketing tips newsletter at http://www.strategies-by-design.com.

In The News:

Yahoo! News: Top Stories

UAW to renegotiate labor terms, suspend jobs bank (AP)

AP - The United Auto Workers said Wednesday it is willing to change its contracts with U.S. automakers and accept delayed payments of billions of dollars to a union-run health care trust to do its part to help the struggling companies secure $34 billion in government loans.

Bombs found in Mumbai train station a week later (AP)

AP - Police searching a mound of baggage abandoned amid the carnage of the attack on Mumbai's main train station found two bombs Wednesday Â— nearly a week after they were left there by gunmen Â— in a stunning new example of the botched security that has become a major issue in India since the three-day siege.

Palin files late disclosure for free 2007 trips (AP)

AP - Gov. Sarah Palin has added to her financial disclosure forms two free trips that she took nearly two years ago but failed to report. Palin, who was Republican presidential candidate John McCain's running mate, made the disclosures last month, but after Election Day when she and McCain lost to Barack Obama and Joe Biden. The trips were first revealed in a story by The Associated Press in October.

Conservatives form rival group to Episcopal Church (AP)

AP - Theological conservatives upset by liberal views of U.S. Episcopalians and Canadian Anglicans formed a rival North American province Wednesday, in a long-developing rift over the Bible that erupted when Episcopalians consecrated the first openly gay bishop.

Cruise passengers describe 'cheeky' pirate attack (AP)

AP - Ordered to get inside and stay down, Oregon tourist Clyde Thornburg heard the pirates' rifle shots hit the side of the luxury cruise liner Â— "Pop! Pop! Pop!" Â— then felt the ship speed up to escape.

Police arrest aunt in Calif. shackled teen case (AP)

AP - The aunt and one-time guardian of an emaciated and shackled 17-year-old has been arrested, as police tried to determine how she knew the couple accused of holding the teen against his will for nearly a year. Caren Ramirez was arrested Tuesday in Berkeley, a day after the boy walked into a gym and begged managers to hide him. He was covered in soot, had a chain on his foot and was wearing only boxer briefs.

Study illuminates star explosion from 16th century (AP)

AP - More than 400 years after Danish astronomer Tycho Brahe challenged established wisdom about the heavens by analyzing a strange new light in the sky, scientists say they've finally nailed down just what he saw.

Bond denied for suspect in Hudson family killings (AP)

AP - A prosecutor alleged Wednesday that Jennifer Hudson's brother-in-law killed three family members because he was angry his estranged wife Â— the singer's sister Â— was dating another man.

The one that didn't get away yields long-lost ring (AP)

AP - The one that didn't get away held an unlikely surprise for a Texas man. The blue-stoned class ring of Joe Richardson, engraved with his name, turned up inside an 8-pound bass 21 years after he lost it while fishing on Lake Sam Rayburn.

Red Sox give AL MVP Pedroia a 6-year, $40.5M deal (AP)

AP - Dustin Pedroia has a Rookie of the Year award, an MVP, a Gold Glove and Silver Slugger and, of course, a World Series ring. And now he's got the big-bucks contract befitting one of the most decorated young players in baseball. The Red Sox second baseman, who earned $457,000 last season while winning the AL Most Valuable Player award, agreed Wednesday to a $40.5 million, six-year contract that could keep in Boston through at least 2014.

Obama names Richardson as Commerce Secretary (Reuters)

Reuters - President-elect Barack Obama said on Wednesday struggling automakers have put forward a "more serious" restructuring proposal to Congress but withheld judgment on the plans until hearings are held.

Recession fears deepen, rate cuts on horizon (Reuters)

Reuters - Record declines in the vast U.S. and European service sectors and more grim U.S. employment news on Wednesday sparked fear of an economic "free fall," setting up another round of aggressive interest rate cuts.

Rice pushes Pakistan, seeks to curb India response (Reuters)

Reuters - U.S. Secretary of State Condoleezza Rice pressed Pakistan to cooperate fully in the probe into the Mumbai attacks but she also warned India against any action that could stoke regional conflict.

All options on table as Congress reviews autos bailout (Reuters)

Reuters - All options were on the table on Wednesday as congressional committees scrutinized auto company restructuring proposals and an urgent appeal for $34 billion in aid ahead of make-or-break hearings.

Senate Democrats will pack plenty of muscle (Reuters)

Reuters - Senate Democrats will be able to do plenty over the next two years -- despite falling just short of their goal of winning a majority big enough to end Republican procedural roadblocks.

Paulson said weighing bailout's next $350 billion (Reuters)

Reuters - Treasury Secretary Henry Paulson is weighing whether to ask Congress for the remaining $350 billion of the financial bailout fund, with White House aides approaching President-elect Barack Obama's transition team about the idea, an Obama aide said on Wednesday.

Ex-WorldCom chief Ebbers seeks clemency from Bush (Reuters)

Reuters - Imprisoned former WorldCom Inc chief Bernard Ebbers has joined the list of high-profile corporate defendants petitioning for clemency in the final days of President George W. Bush's term in office.

U.S.-led coalition in Iraq dwindles as allies leave (Reuters)

Reuters - A string of departures by the U.S. military's allies in Iraq is turning into an exodus as violence subsides and the end of a U.N. mandate permitting their deployment to the country approaches.

India warns all options open with Pakistan after Mumbai attacks (AFP)

AFP - India on Wednesday warned that all options were open in dealing with Pakistan after last week's attacks on Mumbai, as the United States pressured Islamabad to show urgent cooperation with the probe.

Some 100 countries sign ban on cluster bombs (AFP)

AFP - Some 100 nations put their names Wednesday to a landmark treaty banning cluster bombs, amid calls for major arms producers such as China, Russia and the United States to join them.

Powerful Networking: Focus on Building Connections, Not Closing Sales

Networking Networking