Harnessing The Power Of Networking
Some people are such great networkers that they can get over 90% percent of their business through networking and word-of-mouth marketing. You probably know people like this. But what separates these "Notable Networkers" from the rest of the pack? What do they know and do that others don't? There are some immutable laws governing successful word-of-mouth marketing, but just like the wind, harnessed for mankind's good by windmills, word of mouth can be controlled to generate healthy business referrals that can help your business grow to heights you have only imagined!
What are some of these principles? There are three main points "laws." At face value the laws seem simple, but don't let first impressions deceive you. Behind these simple-sounding principles lies a comprehensive set of requirements and obligations. If you don't heed these laws, you will invest many hours and some dollars, but get a poor return on your investment.
1. Notable Networkers have a positive and supportive attitude.
As more and more people opt to start their own businesses and as technology continues to burst forth on the business scene, many business owners are finding themselves cut off from one another. This very trend makes it harder to support each other and makes this law even that much more important to apply. Good networking involves providing a positive and supportive environment to other business people. If you retain nothing else from reading this article, remember this: Notable Networking is predicated upon the concept that givers gain. If you freely give business to others, they will give business to you. This concept is based on the age-old notion that "what goes around, comes around," if I give business to you, you'll give business to me, and we will both do better as a result.
In many ways, the First Law of Notable Networking involves more than attitude; it's a way of life and a good way to do business. When you constantly and consciously keep other people in mind, they will do the same for you. Networking is like a savings account: if you keep investing wisely, you can draw upon it when you need it.
2. Notable Networkers learn how to use networking tools effectively.
All professionals need the tools of their trade to conduct business. A painter needs a brush, a teacher needs a blackboard, and a secretary needs a computer. To achieve success, networkers need their own tools as well. Good networkers' tools include: name tags to identify themselves to others, card holders to carry their business cards, and most importantly, card files to carry other people's business cards.
How many times have you gone to a networking event and met business professionals who don't have business cards? Business cards are the most inexpensive way to market yourself and are a critical tool for networking.
What about name tags? You should be easily identified with your profession, business or service to those who have not yet met you. Wearing a name tag is a simple, yet effective way to let people know what you do.
Part of living the givers gain way of life is demonstrated by carrying others' business cards so that when the chance arrives to refer them, you actually have their cards to give out to the prospects. Once at a mixer, a friend of mine ran out of her cards and was most pleased when I was able to give her five of her own cards so that she could continue networking effectively!
3. Notable Networkers know that networking is an acquired skill.
Most people are not born networkers. They develop the skills through education, training, the right attitude and practice. Any technique of value requires a commitment to learning how to use it effectively. Take advantage of every opportunity to learn to network more effectively. It is a skill that will only grow in importance. Remember Will Rogers' statement: "If you're just sitting there, you're going to get run over!" If you are active in a networking organization, you're "sitting on the right track." The key, however, is to take advantage of the opportunities that these groups have to offer. This means you need to be an active participant in the networking process to get any substantive results. Listen to tapes, read books and articles, talk to people who network well, and most importantly, practice what you've learned. This is not less than what you would do to learn how to play golf, manage people, or sell a product.
Make sure you know what to do when you attend meetings, business events or mixers. All these groups know how to network! You need not have the most gregarious personality to benefit from attending these events. The following Ten Commandments will help you get started. By employing the Three Laws of Notable Networking and the Ten Commandments of Networking at a Business Event, you will be able to effectively harness the power of word-of-mouth marketing in such a way that you, too, will be able to say that over 90% of your business comes from referrals! Remember, it's not net-sit or net-eat; it's net-WORK!
Ten Commandments of Networking at a Business Event
1. Have the tools to network with you at all times.
These include an informative name badge, business cards, brochures about your business and a pocket-sized business card file containing cards of other professionals whom you can refer.
2. Set a goal for the number of people you'll meet at the business events you attend.
Identify a reachable goal based on attendance and the type of group. Don't leave until you've met your goal.
3. Act like a host, not a guest.
A host is expected to do things for others, while a guest sits back and relaxes. Volunteer to help greet people. If you see visitors sitting, introduce yourself and ask if they would like to meet others. Act as a conduit.
4. Listen and ask questions.
Remember that a good networker has two ears and one mouth and uses them proportionately. After you've learned what another person does, tell them what you do. Be specific, but brief. Don't assume they know your business.
5. Don't try to close a deal.
These events are not meant to be a vehicle to "hit on" business people to buy your products or services. Networking is about developing relationships with other professionals. Meeting people at events should be the beginning of that process, not at the end of it.
6. Give referrals whenever possible.
The best networkers believe in the givers gain philosophy. If you don't genuinely attempt to help the people you meet, then you are not networking effectively.
7. Exchange business cards.
Ask each person you meet for two cards -- one to pass on to others and one to keep. This sets the stage for networking to happen.
8. Manage your time efficiently.
Spend ten minutes or less with each person you meet and don't linger with friends or associates. If your goal is to meet a given number of people, be careful not to spend too much time with any one person. When you meet someone with whom you'd like to speak further, set up an appointment for a later date.
9. Write notes on the back of business cards you collect.
Record anything you think may be useful in remembering each person more clearly. This will come in handy when you follow up on each contact.
10. Follow up.
You can obey the previous nine commandments religiously, but if you don't follow up effectively, you will have wasted your time. Drop a note or give a call to each person you've met. Be sure to fulfill any promises you've made.
Dr. Ivan Misner is the author of The World's Best Known Marketing Secret (Bard Press), and co-author of Business by Referral (Bard Press). He is also Founder & CEO of BNI (Business Network Int'l.) the world's largest referral organization with over 1,600 chapters in almost a dozen countries around the world. He is a professor of Business Management at the University of La Verne where he resides with his wife and three children.
