November 2007
Art of NetworkingBe sure to set your printer to "landscape" mode before printing.
Art of Networking
The Tortoise, the Hare, and the Networking Race
Why the race-to-the-finish networker always loses.
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Too often, networking events are bursting with over-eager, over-promising, and over-budgeted individuals, all in a race to the finish line—the next person who might send some business their way. But there must be some thoughtful professionals mixing in the crowd! You can't be the only one. So how do you identify potential referral partners who will treat you as more than just a transaction?
Just remember the Tortoise is a more effective networker than the Hare. Slow and steady really does win the race! Can you spot your networking style?
» You are trying to decide which networking event to attend. There are many from which to choose—how do you determine which race to enter?
• Hare: I have a pretty full schedule. I guess I need to see which one fits in. It can't be too early in the morning, and Mondays are definitely out because it takes me forever to get my week started. Maybe in a couple of weeks I'll have more time. Oh heck, I'll just skip lunch tomorrow and go to the first one I see on the calendar. Better get this thing going before I get distracted!
• Tortoise: This is quite a list of events in my area. I think I'll call the chamber and ask for more information on each of these. Different professionals probably attend different ones, and I want to make sure I attend one that will attract the people I want to meet. If it meets my criteria, I'll build my schedule around it.
» Now that I've decided to attend, how should I prepare?
• Hare: I've packed my business cards and and my BlackBerry so I can schedule a follow-up lunch with everyone I meet. I'll be a 90-minute wonder!
• Tortoise: I have my cards and a pen, and I have invited a couple of clients to go with me. We met for coffee and shared the specific types of people we would like to meet. We have a plan already prepared—to focus on introducing each other rather than ourselves. It will be more effective if someone else is singing my praises rather than me, and I'm happy to return the favor to my clients. By doing this for someone else's benefit, I'm not nervous anymore!
» How do I actually network while I'm there?
• Hare: I have a goal! I brought 100 business cards with me, and I'm not leaving until I have passed them all out. That's the way to meet people and get my name out there! I've practiced my elevator speech so my pitch will roll smoothly off my tongue. I only have an hour and a half, so I'd better walk right up to people and start talking.
• Tortoise: Okay, my cards are in one pocket and my pen is in the other. I'm going to station myself by the door and greet people as they come in. I have three conversation starters prepared to get beyond the initial introductions: How did you get into your line of work? What do you love most about your job—other than working with people? And who did you come here to meet that I might be able to introduce you to? Helping other people get what they want definitely makes this whole networking thing easier!
» It's over! Now what do I do with the contacts I made?
• Hare: I have a pocket full of business cards and a few lunches already scheduled. I'm going to call all of these people right away. "Hello, Carl? This is Harey. We met at the networking event yesterday. You know—I was the one in the black suit? Oh, well maybe you would remember me better if we met for coffee. I'm scheduling meetings with a number of people I met yesterday, so you'll probably want to get on my calendar right away."
• Tortoise: I met a lot of people, four of whom really stand out as people with whom I would like to do business. I'll call them and see when we can schedule another meeting.
"Hello, Stan? This is Tori. We met yesterday at the networking event? Oh yes, I was happy to help introduce you to Austin. When you told me you wanted to meet a banker, I'm glad I knew just the person. I was calling to see if you would like to have lunch with Austin and me this week. We would like to get to know you and your company better. Are you available on Friday?"
» Help! I'm not an over-promiser but I am an over-budgeted networker, and the whole reason I network is to increase my revenue! How do I turn those contacts into contracts?
• Hare: I've made a list of individuals whom I would like to have as clients. Now I need to call the people that I met again and find out who they can introduce me to. Ask and I shall receive, that's what I always say!
• Tortoise: After several meetings, I have carefully developed a list of those people my new 'referral partners' would like to have as clients. Now I need to make some phone calls and create some introductions for them. If I hadn't asked whom I could help them meet, they probably wouldn't have cared about whom I want to meet. Now we each have lists to work on for each other. Ask and we ALL shall receive, that's what I always say!
A networking event doesn't have to be scary, and should be viewed as the beginning to some long and strong relationships. The key to real success lies in our approach. Instead of being a Race-To-The-Finish Networker, we should focus on how—and with whom—we are running. After all, the finish is always sweeter when we share it with others.
Stacy Luke is Executive Director of BNI Central Washington.
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Build Cooperation or Expect Resistance (1)
Last month I spoke about the importance of choosing between "excellence" and "mediocrity." Over time, groups that gradually accept mediocre performance and excuses tend to struggle. The secret is to be adamant about doing the things that promote success and excellence in a group. These things include education, following the system, passing quality referrals, good attendance, and more.
What I didn't talk about in last month's article is the "attitude" you must embrace and exhibit when striving for excellence.
The key to achieving excellence in a BNI chapter—or in any group for that matter—lies in having a solutions-focused attitude, which naturally will promote and build cooperation. (1)
It's amazing how many people (inside and outside BNI) have a problems-focused attitude instead. They assume that in order to achieve excellence they first must pinpoint everything that's wrong and lacking in the situation and channel all of their energy into fixing it completely.
With your BNI chapter, try the following exercise, which demonstrates how a solutions-focus encourages cooperation and progress towards achieving excellence, and how a problems-focus leads to resistance toward greatness.
• Ask members to pinpoint the two main problems in the chapter and rate those problems on a scale of 1 (huge problem) to 10 (not a problem at all).
• No matter what number they rate each problem, your initial response should be, "Why so high?" Let's say they give a #4 rating (which would indicate that they are not very satisfied with the situation), your response will then be, "Why so high? What's working that made you give it a 4 instead of a 3, a 2, or even a 1?"
This approach helps members to realize that there are some things working, and how things would be better if the group did more of those things.
With this approach you shift the focus toward a solution; the entire group focuses on what to do instead of what not to do. Fellow members will create the answer to the problem—all they have to do is pinpoint what's working and do more of it.
We forget that the answers are always there. Most of us get easily preoccupied with the problem. By simply focusing on what's already working, your chapter can cooperate to find a solution.
Differences between a problems- and solutions-focus
Outlined below are the differences between having a problems-focus chapter and having a solutions-focus chapter, and the consequences of each.
By maintaining a problems-focus, we get stuck dwelling on:
• What's wrong
• What needs fixing
• Blame
• Control
• The past
• Deficits and weaknesses
• Complications
• Definitions
Think about how you would react if you were having an issue with someone and they were focusing on the negative. It's easy to see how, in any situation (family, employment, entrepreneurial, networking group, etc.), this attitude engenders resistance and stunts progression of a positive solution.
By having a solutions-focus, however, you're already thinking in terms of how you will move forward. Your focus is on:
• What's wanted
• What's working
• Progress
• Influence
• Collaboration
• Resources and strengths
• Simplicity
• Actions
Focusing on solutions helps create resonance in a chapter. You're focused on what works rather than what doesn't.
With this approach, it is very important to remember that sometimes the art of creating resonance is knowing what to overlook! If you try so hard to achieve excellence that you attempt to immediately work through every little problem that comes up, you will become frustrated and overwhelmed.
Instead, focus on two or three things at a time—pick the things that need the most urgent improvement. Inevitably, those things will positively impact the next ten problems you have.
In conclusion, here are some supplemental points to focus on when building cooperation and working toward solutions:
• Think of actions as starting something rather than stopping something.
• Concentrate on small actions that can be taken now.
• Focus your energy on what's working.
• Come up with specific and clearly defined steps that build on successes, not failures.
• Focus on solutions, not problems!
• Take incremental steps to build towards the solution.
• Don't fix what isn't broken.
• Find what works and do more of it!
• Spot useful qualities and resources in action.
• Be selective about solutions.
The way to build cooperation in a chapter is to focus on a positive-solutions focus to problems. When that doesn't happen, you can almost always expect resistance.
(1) MerKergow & Jackson, Solutions Focus
Called the father of modern networking by CNN, Dr. Ivan Misner is a New York Times bestselling author. He is the founder and chairman of BNI, the world's largest business networking organization. His latest number one bestseller, Masters of Sales, can be viewed at www.MastersBooks.com. Dr. Misner is also the Sr. Partner for the Referral Institute, an international referral training company. He can be reached at misner@bni.com.
BNI in the News
BNI in SME Insight Magazine
SME Insight is a bi-monthly magazine for "Small & Medium Enterprises." This magazine is widely distributed at the national bookstores in the Philippines.
The editor-in-chief of SME Insight was at the June kick-off of BNI Philippines's second chapter—BNI Harvest—at the invitation of the founding president of BNI Genesis chapter. He was awed by the energy he experienced.
When the kick-off was over, the editor approached Sim Chow Boon to have BNI featured in the September issue of SME Insight.
Click here and here to read the article.
Networking Groups – Broadening Your Referral Horizons
BNI members Peter House and Rob Regan-Pollack are quoted extensively in this excellent comparison of the various types of networking organizations available to professionals in the mortgage industry.
Click here to read the article.
Entrepreneur.com Blog Network
Entrepreneur.com has created a networking blog on their site and they have asked Dr. Misner to be one of the main bloggers.
Ivan will be posting weekly blogs on www.NetworkingEntrepreneur.com, and he would like all members to participate by visiting the site and posting comments in response to his blog entries.
This new blog, together with the BNI Podcast, offers an incredible one-two punch in allowing members to hear from Ivan and communicate with him directly.
In addition, this blog will provide excellent exposure for the entire BNI organization and will be a great educational tool for members and directors. Be sure to visit www.NetworkingEntrepreneur.com regularly!
Quiz Yourself
Written by Niiraj Shah
What was earlier termed a word-of-mouth reference is now called networking. The more you talk and the more you mingle, the more your business spreads. Go ahead … take this simple quiz and find out how good you are at networking. The answers will give you tips on how to improve your skills wherever necessary.
Q1: You're attending a networking function and you haven't yet seen anyone whom you know. What would you do next?
Read the article.
To The Next Level
Determine Your Referral Success Rate
It's about quality, not quantity.
As members of the largest, most successful networking organization in the world, each of us strives to become the best networker we can be.
In fact, at BNI chapters throughout the world, hundreds of thousands of connections are made among members who share the single guiding principle that "Givers Gain."
If a referral turns out positively, you can bet your bottom dollar that that person will someday refer business to you. "Givers Gain" is a powerful business philosophy that, if earnestly followed, can become the single greatest source of your success.
Formula for Referral Productivity
With this in mind, I recently began analyzing my referrals. More specifically, I wanted to find out how successful I had been in referring business to chapter members. Each week, I diligently submitted white slips into the referral basket. Occasionally a few of those slips would result in someone submitting BNI Bucks in acknowledgment. But I really wanted to know what that meant in terms of my referral productivity.
On the chapter report, I could see that I gave "X" amount of referrals, but I couldn't determine how many of those referrals had been successful. To help me find the answer, I devised a mathematical formula. The formula has been so effective in helping me become a better networker—make that a "Better Giver of Referrals"—that it is now the standard by which every member in my chapter determines their referral productivity.
The formula looks like this:
Referral Success Rate = Number of BNI Bucks Slips Submitted/Referrals Given
Use me as an example:
I had given 20 referrals between June and September. Of those, four resulted in business.
.20 = 4/20
Therefore, for the period between June and September 2007, my Referral Success Rate was 20%. That means two out of every 10 referrals I gave were successful.
Ultimately, each of us shoots for a 100% Referral Success Rate. In reality, however, not every referral is going to be successful. That's okay, because the Referral Success Rate is designed to help people make the absolute best referrals—ones that stand the greatest chance of becoming successful.
Think of it in terms of a hitter's batting average in baseball. The more hits, the higher the batter's batting average. The same holds true here: the more BNI Bucks (green slips) submitted as a result of your referrals, the higher your Referral Success Rate.
The most successful BNI members (and there are thousands of them) understand that it's not the quantity of referrals, but rather the quality of referrals that matter most.
M. Stephen Brown is BNI Assistant Director, North Shore, Wakefield, Wilmington, & Woburn, Massachusetts
My BNI Story
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We encourage BNI members to meet outside of the meeting to get to know each other better—we call it a "One to One" (121 for short). We teach members to use the GAINS (Goals, Accomplishments, Interests, Networks and Skills) profile as the agenda for the 121. This keeps conversation focused on the task—getting to know your fellow BNI member and learning how to find referrals for him or her.
I have learned that the "I" in GAINS is the most important piece for getting and giving referrals. That's because every interest has a network. Once you tap into a particular business, it's easier to work with other businesses in that market. If I design a website for one restaurant, the next restaurant is easier and more profitable because I've already done the research.
Sue Henry represents World Ventures, a travel company, within BNI. Without our 121, I might not know that she and her husband own an organic dairy farm in southern Minnesota and that they work with other organic farmers. These farmers are just starting to market their products on the web, through co-ops, and at Farmer's Markets. They are great referrals for me.
LuAnn Buechler is a professional meeting and event planner. During our 121, I learned that she is a "Parrothead," a hard-core Jimmy Buffet fan. My passion is sailing, and Buffet is the music of all sailors. I love doing websites for yacht clubs and marinas, many of whom are LuAnn's contacts through her affiliation with Parrotheads. This is one of the more fun markets I'd like to tap into. And with LuAnn's influence, I can now do that!
The next time you do a 121, don't make the mistake of skipping over the Interests section--you never know how someone else's interests might fit into your marketing campaign!
Beth M. Anderson, entrepreneur, founding partner in OrgTrack.com, and expert in word-of-mouth referral networking. www.BethMAnderson.com.
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This "truth" of networking from the bestseller Truth or Delusion? recently hit home for me.
After a BNI meeting where I presented truth #10, a great referral came my way. During my 30-second infomercial, I asked for a referral for a winery that I wanted to win as a client. They had called and asked for a lab technician to assist in the sampling and testing of grapes for the upcoming crush season. I tried really hard to find the right candidate so I could make a great first impression and win their ongoing business.
A new member of my chapter, a printer who I had not yet done a "one to one" with, approached me after the meeting to tell me his wife was looking for work. I suggested she send me her resume, not even considering that her skill set could be a match for my winery client.
When I received the resume, I found out she had a degree in chemistry! I forwarded the resume to my client; they did an interview and the deal was sealed.
A week after filling this order, I received a call from the winery's HR director, who also manages two other wineries. She asked if we could help them fill several additional opportunities for all three locations.
The lesson: Don't assume that the people you know and connect with every day can't be an incredible resource to help you grow your business!
Sue Costa, Assistant Director, BNI San Francisco Bay
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| Rasmus Carlsson (left) gives a timely referral to Micael Hörberg (right) |
Last summer, an opportunity arose during our family holiday on the Greek islands. Another Swedish family stayed next door to us at the hotel. Our children played together and we parents soon began visiting. It was not long before someone asked, "What line of work are you in?"
It turned out that our neighbor was the CEO of a company with an acute need to recruit salespeople. In his opinion, they could do this themselves, but the recruitment process had become delayed a number of months.
It is quite normal for people to do recruitment themselves, even if it winds up costing them more than using a recruitment company. I learned this from Micael Hörberg, who with his company, Talentor, is a specialist in recruiting salespeople. I was prepared with the pro and con arguments, and it took only minutes to convince my neighbor that he would save time and money if he just called Micke.
I knew precisely how to sell Micke and his services. It's what BNI is all about—attempting to sell the ideas of your colleagues in different situations. Afterwards, it is up to the individual to get down to business. And if I know Micke like I think I do, he will land another recruitment assignment soon.
Rasmus Carlsson, BNI Malmö Kramer (lunch), Sweden
Breaking News
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Masters of Sales on New York Times Bestseller List
On Saturday, September 29, Masters of Sales hit #6 on The New York Times Book Review!
Now, in addition to gaining status as a #1 bestseller on both Amazon.com and Wall Street Journal, and making it into the USA Today list of bestsellers, Masters of Sales has hit the big time as a New York Times bestseller.
Thank you to everyone who helped to make this happen, and congratulations to all of the contributing authors!
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Don't miss the new book by Bill Cates, Don't Keep Me a Secret!: Proven Tactics to Get More Referrals and Introductions. Cates writes with an eye for implementation—the last chapter is devoted to helping you implement the ideas presented in the book.
Some topics covered in this easy-to-read book:
• Seven Deadly Referral Mistakes—Are You Making Them?
• Get Great Prospects Calling You
• Tap into the Power of Social Prospecting
• Plant Referral Seeds Now—Reap Referrals Later
• Leverage Your Value by Asking for Referrals
• Create Your Networking Sales Force
Don't Keep Me a Secret!: Proven Tactics to Get More Referrals and Introductions (McGraw-Hill, $16.95) is available in bookstores, at www.Amazon.com, and through www.ReferralCoach.com. An ebook edition is also available at www.ReferralCoach.com. Save on shipping by getting the book NOW!
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| Pictured at left are Dr. Ivan Misner, BNI Executive Director Shelli Howlett, and SMEI President, Willis Turner. |
Thanks to the networking connections and efforts of BNI Assistant Director George Dearing, past president of SMEI's* Dallas Chapter, BNI Founder and Chairman Dr. Ivan Misner was honored by Sales and Marketing Executives International as their Marketing Statesman of the Year. The conference was held in Dallas on September 21-22, 2007.
Dr. Misner delighted the audience by sharing stories about what he has learned in more than two decades of building his business into an international organization. He was extremely well received, keeping listeners on the edge of their seats as non-BNI members were introduced to the concept of "Givers Gain."
After the presentation, Dr. Misner was available to sign books for the audience, which included SMEI members from around the world and BNI members from the Dallas/Fort Worth area.
"We are proud to honor Dr. Misner with the 2007 SMEI Marketing Statesman of the Year Award for his success as founder of BNI," said Turner.
*Sales & Marketing Executives International (SMEI) is the worldwide organization dedicated to ethical standards, continuing professional development, knowledge sharing, mentoring students and advancing free enterprise. For more information, visit http://www.smei.org.
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Word-of-mouth marketing is the world's most effective, yet least understood, marketing strategy. A wealth of untapped business can be generated simply by implementing a successful referral marketing plan. And any business owner who feels clueless about this process needs only to read The Power of Referral Marketing by Vince Golder of Goldnet Referral Marketing.
Vince Golder's advice is straightforward and easy to understand. He offers business owners a simple, practical, and proven model on which anybody can build a thriving referral-based business. I recommend this book to anyone interested in learning how a basic referral marketing strategy can make a powerful difference in their business.
—Ivan R. Misner, PhD., Founder & Chairman of BNI
Vince Golder is offering a special 50% discount (worth $25) to BNI members until November 15, 2007. To order The Power of Referral Marketing, go to http://www.goldnetreferralmarketing.co.uk/promotion.php.
Satisfaction Guarantee: You can purchase with full confidence as Vince offers a 100%, 60-day, No Quibble Satisfaction Guarantee.
Words of Wisdom From Brian Tracy
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Each person is the president of his or her Personal Services Corporation. Everyone is self-employed, from the time you take your first job until the time you retire. The biggest mistake you could make is to think that you work for anyone else but yourself.
As the president of your company, you have a staff of one—yourself. You have one product in a competitive market—your ability to get the results for which people pay you. Your job is to continually upgrade the quality and quantity of your services, so you earn more and more as your career progresses.
You are also responsible for the functions of your business. These include marketing, sales, finances, quality control, training and development, and organization. As the president, you're the one to say, "The buck stops here."
As you market your services to increase sales and profitability, you need to consider seven elements.
The Product is what you sell. You must define your product or service in terms of how it improves the life or work of your customer. Customers are inherently selfish. They want the very best for themselves. They want products and services that are faster, better, and cheaper than anything else available. Sometimes, one improvement can improve your sales immediately.
The Price is the second consideration. You must give considerable thought to how your product or service is priced in a competitive market. Sometimes you have some control over the price; other times you do not. In every case, the customer is not necessarily seeking the lowest price, but the best price. He or she will pay what is fair and reasonable. Your job is to convince the customer that he or she is better off paying more for your product than buying cheaper somewhere else.
The Place is where you sell your product or service. This refers to the location of your business or where your selling activities take place. This can be the Internet, the telephone, or face-to-face in the customer's home or place of business.
Recently, Dell Computers dramatically changed its place. They moved from telephone and online sales to placement in Wal-Mart stores worldwide. This single change immediately transformed their business and increased their sales by billions of dollars. How could you offer your product or service in a different place, or through different market channels?
The Promotion of your product or service embraces both marketing and sales. Marketing is the process of attracting people who are interested in your product or service. Sales converts those leads into customers for your business. Don't mix them up.
Marketing and sales are constantly changing; the method you use today will soon be obsolete. You must dedicate yourself to lifelong learning of the sales process. Read about sales everyday. Listen to sales audio programs in your car. Attend sales seminars. Resolve to be in the top 10% of salespeople in your field, no matter how long it takes. This decision will change your life.
The Positioning of your product or service is how your product, service, and company are viewed by your customer. How do people describe you to others? What is your "Unique Selling Proposition"? What makes your product or service different and better than any other product or service in the market? The answer to these questions should be at the core of your sales and marketing efforts.
Eighty-five percent of sales success comes from "word-of-mouth." Your reputation is the most valuable asset you have. What is yours? How could you improve it in the minds of your customer and non-customers?
Your Packaging encompasses every visual aspect of your company. Your product packaging—including letterhead, business cards, brochures, and the look of your products or services—is vital to your success. It must always look first class, equal to or better than your competitor's. Small changes in your packaging can lead to dramatic changes in the perception that your customers have of you.
Your packaging also includes the image presented by each employee who interacts with customers. Many companies have transformed their reputation in the marketplace by insisting that salespeople wear a uniform and/or "dress for success."
The People in your business are the final consideration. In the final analysis, customers "buy" people rather than products or services. Customers decide emotionally and then justify logically—and the emotional part of your company are the people who interact with your customer. From the receptionist to the delivery person, every person in your company has an impact on your reputation.
There is always room for improvement in these seven key areas. Every day, you should look for ways to improve in one or more of these areas. If you don't, your competitor will—and they will be the company to get the business.
About Brian Tracy:
Brian Tracy is Chairman and CEO of Brian Tracy International, a company specializing in the training and development of individuals and organizations.
Brian Tracy has consulted for more than 1,000 companies and addressed more than 4,000,000 people in 4,000 talks and seminars throughout the US, Canada and 46 other countries worldwide. As a keynote speaker and seminar leader, he addresses more than 250,000 people each year.
Brian has studied, researched, written and spoken for 30 years in the fields of sales, entrepreneurship, economics, history, business, philosophy and psychology. He is a top selling author of 42 books that have been translated into 35 languages and which are sold in 52 countries.
About Brian Tracy University
Would you like to earn a "Street-Smart MBA" at your own pace? At Brian Tracy University, you'll:
• Improve your business, sales, personal performance, and leadership skills.
• Achieve your goals in as little as one hour per week.
• Immediately apply the coaching principles through action exercises.
• Meet with experienced course counselors who will ensure progress and provide accountability.
• Be fully guaranteed to increase your results, or your investment will be refunded.
"My team goes through Brian Tracy University courses once per week. Not only do they acquire new skills, but they get fired up for what we call BTU Days."
—T. Carter, San Diego, CA
To find out which courses are suitable for you, visit www.briantracyu.com. To receive a free preview of a course, e-mail: info@briantracyu.com.
Brian Tracy and Dr. Ivan Misner have made it easy for BNI members to access Brian Tracy's coaching programs. As a member of BNI, you receive 25% off the course fees. To take advantage of this offer, use the promotion code listed within the following page: www.briantracyu.com/bnimembers.
This month, you can enroll in "Increase Your Profits," where you'll learn how to plan and organize, market and sell, borrow and raise money, cut costs and reduce expenses, and turn your business into a profit machine.
Enroll today and take your results to the next level. To get started or receive a free preview, visit www.briantracyu.com/bnimembers, e-mail info@briantracyu.com, or call 866-505-8345, ext. 21.