Thursday, December 20, 2007

7 Costly Mistakes You Need To Avoid When Networking

It is a fact that companies who do not network are missing tapping into a rich stream of new contacts and new business that can make them more successful, profitable and help them to understand their customers and the marketplace better whilst testing their message and its effectiveness. The other fact is that many people who do network make mistakes which can cost them winning new business in volume. Now we all make mistakes, so what can you look out for and how can you maximize your networking activities by avoiding costly errors?

1. Prejudging People.

You cannot afford to prejudge people; you simply do not know who they know or who they can connect you and your business to. I have had some of my best referrals from people who I initially thought could not help me. We've all heard the saying, never judge a book by its cover, but many of us do. Instead, give people time and your attention. It is also worth mentioning on the flipside that all that glitters is not gold, be open-minded and don't jump to conclusions.

2. Not Following Up

People go out there, get the contacts, business cards and introductions but fail to follow up or when they do follow up they are trying to sell. Top referral achievers know how to follow up and they follow up on all contacts and keep in regular contact. The people you meet at business networking forums are their as equals, they do not want to be sold to and they definitely do not want to be treated as prospects however they may become customers or clients in time and that is fine but your objective is to find out about them and build rapport with the view to becoming an advocate of their business. It is also worth remembering that in business, as in the sporting arena, top performers develop skill and success through persistence and a focus on continuous improvement. Please understand that networking is a marketing tool and not just an event that you go to. I would implore you to follow up, don't hesitate don't even allow that little voice in your head to put you off, JUST DO IT.

3. No Clear Objective

You want quality business, right? So your objective should be to build relationships on the following 3 criteria: know, like and trust.

*Know - getting to know your contact first is vital, a good way to get the conversation going is to ask open-ended questions in which the person cannot easily answer yes or no. For example, how did you get into this business? What type of businesses are you looking to be referred to?

*Like- this is all about building rapport and getting on well. Many business referral clubs have an annual membership investment fee of £500 to £600, which is great. However, too many people undervalue the unique opportunity that this investment can give them and their business. You should be looking to get a return of 40 to 50 times your investment and then some.

*Trust - mutual beneficial business relationships must be built on trust as we are talking about your reputation there must be no hidden agendas.

4. Not Listening

Your ability to listen is one of the most important skills to have and it will give you the edge if you can learn, develop and cultivate it. This isn't about just hearing what is said it is about understanding and taking in what people really mean. Real listening will require your complete focus and attention. What are people really looking to achieve? What do people think is important about their business, job, personal ambition, and family, what is important to them? Usually people don't listen because they are too busy focusing on what they want to say next in a conversation. Remember practice and write down key areas of importance so the next time you speak or follow up you can ask them about their interests. You have 2 choices you can be an interesting person or you can be an interested person, you decide!

5. Talking about what you do

Talk in terms of what benefits you deliver to your clients, suppliers, customers and contacts. Talk enthusiastically and be specific do not go into detail at an initial first meeting at a networking event. Try to get over, What is unique about you? Why do you do what you do? How do you deliver more value than others in your sector? Please do not fall into the trap of saying that it is your service or quality of your product that differentiates you, this is far too common and generic, explain how, and explain why. Explain any guarantees. Also let people know who you want to be referred to specifically, NEVER say anybody or everybody as you will usually get referred to nobody, because this is not specific enough.

6. Short Term Thinking

Don't be a hunter or a deal chaser to get the best results from your networking activities you need to take a long term approach you cannot afford to have an attitude of What's in it for me or what can I get out of this, you must replace this with the mantra How can I help you or How can I serve. Go out there to make a positive impact on someone's day. Effective people take a farming approach to networking, they focus on cultivating relationships for mutual long term benefit and they definitely do not chase deals or instant sales. You may attend a networking forum and do business initially that's great.

However, this should not be your primary objective as referral's work best if you develop a know like and trust strategy as mentioned, When you get a referral you want to know, that it is the type of business you want and importantly you want to know that you are going to get paid for your product or service so to protect yourself follow these 3 simple steps;

Step one get to know your networking colleagues know what they do, know what they like and don't like, know what they stand for and what they are about.

Step two get to like them, get them to like you and build a relationship whilst developing rapport.

Step three build trust and make sure they're reliable and test their reliability on little things first. I cannot stress how important it is to know like and trust your networking colleagues, because you cannot afford to introduce the wrong person, solution or Company to your valuable network, clients, contacts or customers if they cannot perform and also more importantly you cannot expect others to put you in front or introduce you and your company to their valuable contacts if you cannot perform and successfully deliver on your promises. People who you recommend represent you so don't cut corners.

7. Letting Fear Get The Better Of You

So you feel nervous about going up to a complete stranger and introducing yourself, you feel apprehensive, this makes you normal. We were all taught as children not to talk to strangers. As a kid this strategy was given to you to protect you. In certain situations or circumstances today this may be advisable however in most cases it definitely does not apply now. In business, however, talking to complete strangers is a way to generate interest and contacts for your products and services.

If you only talk to the people you already know and deal with, you will miss out on opportunities to make new connections. Set a target for yourself before you attend any networking event. Decide how many new contacts you want to make or how many strangers you want to meet. Above all make it fun, turn it into a game and take yourself out of your comfort zone and I promise you that with practice, determination and action you will look back and think what was I worried about, you will also find it to be one of the best business decisions you've ever made.

MLM Training - Would You Perform Your Own Surgery?

Did you consider MLM training before you dove into your new Network Marketing Business? Training is absolutely essential to your MLM success.

Assuming you have no knowledge of electricity, would you decide to wire your brand new 3700 square foot home yourself?

How about surgery? Would you sit at the kitchen table with a steak knife and just get instructions from your surgeon over the phone on how to perform your own surgery? I doubt it. Yes that is a commercial.... hilarious once the guy realizes this might not be such a brilliant plan after all.

I realize it is hard to know what type of MLM training will help you succeed. The training takes time away from the building process in some ways, but just as it is essential to lay a strong foundation for your new home before beginning to frame the home.

It is equally important to lay a solid foundation of knowledge about the MLM industry, the company, MLM marketing and management skills before diving headlong into promoting.

My first few years in Network Marketing, my up-line didn't have the same definition of what training meant as I did. I was looking for practical MLM training tips and marketing ideas with substance I could use to build my Network Marketing business.

Those first few years, the training I received was focused mostly on product knowledge, which you do need to a certain extent. Basically they had no other marketing suggestions except to call my 50 friends and family again and again, sit in the mall and cold call.

They never considered my family and friends might not be my target market. I had no duplicable system to follow. My up-line's personality allowed for 99 "no's" to get that one "yes". My personality does not.

I needed a duplicable system. Cold calling in the mall, calling family and friends over and over is not a duplicable system. The rest of the MLM training I received was related more to "how to give a presentation" and "sell the prospect".

Network Marketing is not about "selling" the prospect on your "deal". Network Marketing is a teaching and mentoring business built on building relationships with others and truly trying to help others meet a need.

Helping others meet their needs and goals will help you to meet yours as well! The Golden Rule is quite applicable: "Treat others as you would have them treat you."

MLM training should be as individual as it is essential to the success of the distributor. Each person comes to the MLM industry with different needs, MLM goals and skills. All people can be successful in this business if they understand a few things:

1) They will NOT get rich quickly. (The average time it takes to make a desirable income is 3 to 5 years. Can it be done quicker? Of course!)

2) They WILL be required to WORK in their business. (It will not fall in their lap!)

3) Network Marketing Training and Up-Line support is essential to your business (Most of us can't succeed alone!)

4) The business model of the chosen MLM Company is crucial to the success it's distributors

5) Do you have a duplicable system for attracting prospects to your business?

Friday, December 14, 2007

How To Network Your Way To Success In Any Industry

You have no doubt heard the expression: "It's not what you know, it's who you know."

Your ability to quickly and effectively transform yourself from a perfect stranger into the perfect ally in a matter of minutes will give you a tremendous advantage over your reserved peers and competitors. It is through successful networking that you gain access to the people and resources you need to achieve your goals. But what exactly does networking mean? Webster offers the following definition:

"A process by where people who have common interests and concerns come together to exchange ideas and information, for the purpose of professional development and accomplishment."

If you have a product, service, talent, or company to market and you are fully prepared to do business with others, the following steps will help you network your way to success.

1.) Upgrade Your Appearance: Humans are visually oriented creatures. We develop impressions, form judgments, and make assumptions (right or wrong) based upon what we see. Take time to pay attention to the details of your appearance and look the part that you want to play (e.g. consultant, accountant, marketer, lawyer, etc.). This does not mean that you need to be decked out in designer clothes. It means you need to understand the importance of putting together a visual presentation that says you care about how you are perceived.

2.) Be Objective Oriented: Before you set out to network ask yourself, "What do I have to offer of value to others?" It's in helping others fulfill their objectives that your services, products, and talents are utilized. Your mission is to make sure that the information you share with others is applicable to the fulfillment of those objectives. Keep this in mind as you navigate your way through conversations.

3.) Be Tactful: In this reality tv-driven era that we live in where everything is bold and crass, those tactics don't work in networking situations. People are more likely to be offended by brash, over-the-top personalities. Don't let your personality quirks blind people to the benefits of doing business with you.

4.) Have A Mental Script: Practice your introductions and be able to clearly and concisely explain who you are, what you do. It's also crucial that you supply supporting facts and details to give people a deeper understanding and greater appreciation of what you have to offer as an ally. And be consistent with the professional information that you publicly divulge. People often share notes with each other about who they meet. When those notes are compared, you want to make sure that an accurate and authentic picture of you is painted.

5.) Provide Business Reasons: Why should anyone care about what you have to say? They don't - until you make your conversation beneficial to them and provide the business reasons to take interest in what you are saying. The real interest people have is not in you, but what you can offer or do for them. Cater to it at every turn.

6.) Qualify Your Contacts: This is done by done by asking questions. Asking questions allow you to get clarification or amplification of details which will confirm or diminish interest, and reflect your comprehension of what your contact is saying.

7.) Listen More Than You Talk: This rule applies no matter who you are networking with. Through active listening we can evaluate what our potential business ally has to offer and identify their needs and concerns. Talking too much reduces your chances of getting this vital information and makes you come off as self-centered. It's also annoying. You will discover that asking questions will help you to balance your conversations in both directions.

8.) Issue A Call To Action: After you have qualified your contact as a potential business ally, you should issue a call to action. This can be an invitation to meet with you at a future date to incorporate yourself into the equation for their (greater) success, to offer services that provide solutions to challenges/problems, negotiate the sharing of resources, or discuss business ideas, plans, or opportunities. This is usually done over lunch or dinner, but you can think outside of the box and invite people to activities and events that afford you the opportunity for one-on-one dialogue with minimal distraction. This is why golf has become the networking activity of corporate America. Rule of thumb: if you issue the invite, you pay the tab.

9.) Follow-Up & Follow-Through: Once you obtain your new contacts, it's imperative that you follow-up with them. Send an email to say hello, or to arrange for the aforementioned lunch or dinner date. It's important to note that it's during this critical stage which most people stop their networking efforts when in fact, the greatest effort and energy utilized in the networking process should be used to convert your contacts into profitable relationships. By profitable I mean relationships that yield beneficial dividends - financially or otherwise.

10.) Deliver The Goods: We network as a means to an end. Often that end is the delivery of a product or a service, but it's also being able to deliver on potential or a promise. Ultimately, when we network, we are seeking those opportunities. At the end of the day, that's what networking your way to success is all about.

Pump Up Those Business Networking Genes to Increase Sales

Business networking is one of the most effective marketing strategies. The more people you meet the greater likelihood of increasing leads and putting them into your marketing funnel.

Since people buy from people they know and trust, business networking event provide opportunities for people to meet you , to begin to know you and hopefully start to trust you.

How good you are at business networking is a reflection of how well you unite your marketing skills, selling skills and self leadership skills. All of these skills are necessary when you are actively marketing yourself through networking event.

So the question is: How good are you at meet and greet? And, more importantly what are your results from these business events? Do you have stacks of business cards accumulating on or near your desk? What process do you have in place to start capturing some of the hidden wealth within these cards?

Networking as defined by Lillian Bjorseth in her book Breakthrough Networking: Building Relationships That Last is:

A mutually beneficial relationship

Unfortunately, many in business see networking as a one way relationship - What's in it for me? They forget to view people as people, because they are viewing them as objects. This perspective is well explored in the book by the Arbinger Institute Leadership and Self Deception.

When you meet and greet people with the attitude (habit of thought) that you are there to help them, you can begin to develop authentic relationships that will last. Then you will learn if they have a need for your products or services. The more they talk, the more you will discover and be able to overcome any future stalls and objections if and when you make that sales presentation.

One indicator of how much your networking gene is really pumped is when people start asking you about this person or that person. When you are authentically connected, people will know and you will not have to tell them.

Tuesday, December 04, 2007

Business Card Do's and Don'ts

The business card is one of the most used and least understood tools in business today. Whether CEO of a Fortune 500 Company or founder and part-time CEO of a web-based start-up, the business card is an effective communication and marketing tool. But like any tool, it must be used properly. The do's and don'ts of business card etiquette, while not the key to wealth and success are helpful to prosper in a business or organization of any size.

The Business Card

If you work for a mid-sized to large company or organization, the style and format of the business card will have been decided for you. If you have your own company or organization, then keep the business card traditional in size and shape. Have them printed with all your key contact information in additional to you company or organization's name, logo and tag line.

When to Carry Business Cards

Unless you are going swimming or otherwise actively engagement in sports, carry your business cards. Do no limit carrying them to work days, the office or business functions. Some of the best opportunities for business networking are at the least likely events or times.

How to Carry Business Cards

Some people carry business cards loose in their pockets or their purse. The best thing to carry them in is a business card case. These are available in metal and leather. I carry the leather one made by COACH and it has served me well. The metal ones are acceptable also as long as they are no bigger than the business cards.

When to Offer Your Business Card

Some people whip out their business card every time they meet someone at work or at a work related function. The best times to offer your business card are:
- When someone asks for your card.
- When you ask someone for their business card.
- At the END of a meeting with a client or potential client before they leave.
- If someone asks for your contact information (business or otherwise).
- At the end of an air flight if you have talked with the person sitting next to you.
- If you dine next to someone outside of your company at a professional or networking function (business-related), you may tell them that it was enjoyable talking with them and offer them your card as you shake hand and leave.

Business Card "Don'ts"
- Don't give your business card to people who work with you. If you are that unmemorable you may need a professional coach.
- Don't give your business card to people at a reception or networking function unless they ask for yours or your contact information.
- Don't drop them in bowls for raffles as you will only be contacted by someone trying to sell you something.
- Don't give them to others to hand-out for you.
- Don't leave them on bulletin boards or in stacks at any place other than your own desk - and only then if you meet face-to-face with customers or clients.
- Don't hand them out to anyone at a church service (social functions are acceptable) or at funerals.

Old Business Cards

Old business cards make great book marks and also work well for "to do" lists.

Business cards are both a blessing and a curse. Until everyone passes all contact information through technology, we will still have a tool called the business card. Know when and how to use them as an effective business development and communication tool remains essential to success.

How To Network Your Way To Success In Any Industry

Your ability to quickly and effectively transform yourself from a perfect stranger into the perfect ally in a matter of minutes will give you a tremendous advantage over your reserved peers and competitors. It is through successful networking that you gain access to the people and resources you need to achieve your goals. But what exactly does networking mean? Webster offers the following definition:

"A process by where people who have common interests and concerns come together to exchange ideas and information, for the purpose of professional development and accomplishment."

If you have a product, service, talent, or company to market and you are fully prepared to do business with others, the following steps will help you network your way to success.

1.) Upgrade Your Appearance: Humans are visually oriented creatures. We develop impressions, form judgments, and make assumptions (right or wrong) based upon what we see. Take time to pay attention to the details of your appearance and look the part that you want to play (e.g. consultant, accountant, marketer, lawyer, etc.). This does not mean that you need to be decked out in designer clothes. It means you need to understand the importance of putting together a visual presentation that says you care about how you are perceived.

2.) Be Objective Oriented: Before you set out to network ask yourself, "What do I have to offer of value to others?" It's in helping others fulfill their objectives that your services, products, and talents are utilized. Your mission is to make sure that the information you share with others is applicable to the fulfillment of those objectives. Keep this in mind as you navigate your way through conversations.

3.) Be Tactful: In this reality tv-driven era that we live in where everything is bold and crass, those tactics don't work in networking situations. People are more likely to be offended by brash, over-the-top personalities. Don't let your personality quirks blind people to the benefits of doing business with you.

4.) Have A Mental Script: Practice your introductions and be able to clearly and concisely explain who you are, what you do. It's also crucial that you supply supporting facts and details to give people a deeper understanding and greater appreciation of what you have to offer as an ally. And be consistent with the professional information that you publicly divulge. People often share notes with each other about who they meet. When those notes are compared, you want to make sure that an accurate and authentic picture of you is painted.

5.) Provide Business Reasons: Why should anyone care about what you have to say? They don't - until you make your conversation beneficial to them and provide the business reasons to take interest in what you are saying. The real interest people have is not in you, but what you can offer or do for them. Cater to it at every turn.

6.) Qualify Your Contacts: This is done by done by asking questions. Asking questions allow you to get clarification or amplification of details which will confirm or diminish interest, and reflect your comprehension of what your contact is saying.

7.) Listen More Than You Talk: This rule applies no matter who you are networking with. Through active listening we can evaluate what our potential business ally has to offer and identify their needs and concerns. Talking too much reduces your chances of getting this vital information and makes you come off as self-centered. It's also annoying. You will discover that asking questions will help you to balance your conversations in both directions.

8.) Issue A Call To Action: After you have qualified your contact as a potential business ally, you should issue a call to action. This can be an invitation to meet with you at a future date to incorporate yourself into the equation for their (greater) success, to offer services that provide solutions to challenges/problems, negotiate the sharing of resources, or discuss business ideas, plans, or opportunities. This is usually done over lunch or dinner, but you can think outside of the box and invite people to activities and events that afford you the opportunity for one-on-one dialogue with minimal distraction. This is why golf has become the networking activity of corporate America. Rule of thumb: if you issue the invite, you pay the tab.

9.) Follow-Up & Follow-Through: Once you obtain your new contacts, it's imperative that you follow-up with them. Send an email to say hello, or to arrange for the aforementioned lunch or dinner date. It's important to note that it's during this critical stage which most people stop their networking efforts when in fact, the greatest effort and energy utilized in the networking process should be used to convert your contacts into profitable relationships. By profitable I mean relationships that yield beneficial dividends - financially or otherwise.

10.) Deliver The Goods: We network as a means to an end. Often that end is the delivery of a product or a service, but it's also being able to deliver on potential or a promise. Ultimately, when we network, we are seeking those opportunities. At the end of the day, that's what networking your way to success is all about.