Building A Networking Relationship 3 of 7

talking gently

talking gently

If you want people to “Know, Like, and Trust” you remember There Is No Shame In Asking: Call it “human nature” or call it the “American Spirit,” but we are hardwired to help one another. Certainly the aftermath of the events of September 11th (or any major tragedy) make this abundantly clear. People will go to great lengths to help one another.

With this, the only thing that separates you from the help that you need is you asking. Dare to ask. Remember, if you are focused on giving and helping others, it is only fair that you attempt to partake from the same process.

  • Let others know what kind of help you want.
  • Describe the types of people you are trying to meet.
  • Explain to your centers of influence how they can help you.
  • Solicit people for information on job transition groups or opportunities to present on the benefits of franchising.

Understand this, if you are polite in asking of others and appreciative of whatever they give (even if it is only time), people will come through. Not everyone, but enough to make it all worthwhile. Equally important, however, when you reach out to others, you are in essence affirming that they have value to offer. It is a wonderful compliment. For that, they will be flattered. As backwards as it might seem, they will Know, Like, and Trust you for reaching out to them.

Creating Solid Networking Relationships

We serve to create solid relationships with people in our lives when we set about to make three things happen, and can be distilled down into three simple words: Know, Like & Trust.

We have a deal

You build relationships when you get people to know you and you get to know others;

You build relationships when you get the people you know to like you; and You build relationships when you do the things that allow other people to trust you.

Here is a simple reality, people do business with people they Know, Like & Trust. You do business with people you Know, Like & Trust. All things being equal, you will do business with someone you Know, Like & Trust.

All things being equal, you likely have the accountant, banker, or financial planner in your life because you Know, Like & Trust them In fact, all things being unequal, you would still opt to do business with the person you Know, Like, & Trust. Think about it. If you have automobile insurance, there is no question you could find the same coverage for less. Yet, you stay with the same agent. Why? You Know, Like & Trust the person.

Know, Like & Trust is a powerful component of human nature. If you can get people coming to that conclusion that they Know, Like & Trust you (this is at a very gut level), they will be more likely moved to help you … refer you clients … introduce you to centers of influence … direct you towards beneficial opportunities.

Networking Works!

There is tremendous value in networking and networking adds value to you. Networking is much more than prospecting and selling. In general, it involves interacting with those around you (face-to-face, over the telephone, e-mail or text, and even using social media). Nevertheless, you engage in networking for the purpose of the people around you and at the same time position yourself to receive help.

G (Results)

Networking Works!

Now it may not work HOW you would like it to work. For example, you go to a networking event hoping to meet accountants who might know of people interested in buying a franchise. To that end, nothing pans out, but you do learn of a job-transition group that you were not aware of. Networking did not work HOW you wanted, but it worked.

Networking may not work WHERE you want it to work. The next day standing in line to get coffee, you strike up a conversation with someone who reveals in polite conversation that they are looking for more freedom in their professional life. Networking did not work WHERE you wanted, but it worked.

Finally, networking may not work WHEN you want it to work. For example, again, you go to a networking event hoping to make contacts to help you find clients interested in franchising. You seem to come up empty. Then a month later, a year later, or even a decade or more later, someone reconnects with you from that event looking to be your client. Trust me, this happens. Again, Networking did not work WHEN you wanted, but it worked.

Networking Activities

Networking opportunities fall into three distinct categories: Face To Face … Electronic Encounters … and, Social Media.

business competition

Face To Face networking opportunities including, various activities when you are out and about with people. These include:

  • Structured Networking, including Toastmasters, Rotary, Lions’ Club, or organizations like AmSpirit Business Connections.
  • Networking Events, include trade shows, volunteer activities, business after-hours, Chamber events, seminars, and even social events like tailgates.
  • Free-Form Networking, includes perhaps a round of golf, meeting over a cup of coffee, just getting together.

With respect to networking in the modern age, much of what you can do face to face, you can accomplish via ELECTRONIC ENCOUNTERS. More specifically, you network over the telephone, over e-mail and through texting. Remember networking is more than selling and prospecting. It is two or more people working towards their mutual benefit – sharing referrals or contacts, passing on information, being encouraging and supportive.

Finally, in the 21st century, technological innovation has given way to social media websites. These are nothing more than virtual venues where you can network – again, share referrals or contacts, pass on information, being encouraging and supportive.

The main three social media applications are LinkedIn, Facebook, and Twitter, but beyond these are dozens and dozens of others. If used properly, social media will allow you to network on a massive scale, on a worldwide basis, 24 hours a day and seven days a week, and do so with incredible information about your networking partner before you even make contact.

Assessing Your Network Asset

Once you realize that your networking builds value in your life, the nature reaction is, “How much value do I have?”

Certainly, this is not as simple as counting nickels and dimes or tallying hours worked. And while there are complicated formulas for assessing one’s social capital, there are three rather simplistic means of gaining a thumbnail measurement of your social capital … assessing connectivity … density … or potential. Let’s touch on each of these.

Social Network of People

Assessment #1 is Connectivity. Answer this question “Who do I know?” Stop and think about it. Take an inventory of the people you know. High School. College. Neighbors. Community contacts. Church. The gym. And the list goes on and on. You likely know lots of people, and as you meet more your social capital grows.

Assessment #2 is Density. Think about it. If you knew ten people and those ten people all knew each other, your network is so dense (or interconnected) that the social capital is nowhere near as great as if you knew ten people and none of those people knew each other. So it is not just how many people you know that is important, but how many of those people know each other. Certainly, it is not reasonable to think that no one in your network knows anyone else, but you do want to have a broad, diverse network where you know lots of people and they are relatively disconnected from one another.

Assessment #3 is Potential. It is important how many people you know. And it is important how many of those people you know, know each other. But another means of assessing your network is to look through the people you know and see the people they know that you do not currently know. If you know ten people and they have relatively poor networks themselves, you are worse off than if you know only five people, but those five are extremely well connected.

Take a moment now and then to assess the value of your network. In these moments, ask yourself:

  • How can I increase my Connectivity;
  • How can I lessen my network Density; and
  • How can I enhance the Potential of my network

 

 

 

 

Your Networking Creates An Asset

Your life is comprised of various assets. There is physical capital such as money, investments, homes, cars and other belongings. There is human capital, such as your ability to work, think and do things. And there is social capital, which the invisible benefit that your network provides.

Know this, when you network, it is not an expense of your time. Do not think of it in those terms. Certainly some networking is more productive than others, but understand that any networking is an investment.

Prospecting: An Investment.

Attending An Event: An Investment.

Volunteering: An Investment.

Socializing: An Investment.

Think about networking as a component of building your personal wealth. When you network, you build value in your life. So get out and network. As you do, feel as if your net worth is growing… because it is.

b

A Daily Dose Of Social Media

To successfully engage yourself in social media (this immensely-large, continuously running and information rich networking event), you only need to devote about 100 hours per year to it.

Now, when you put it that way, the task seems insurmountable. Here is the reality, however: This translates to only about 20 minutes a day or a couple hours scattered over the course of a week. That does not seem so bad.

computer

In the morning, when you are enjoying a cup of coffee, you might tinker with your profile.

Another day, you take a mid-morning break and interact within one of the groups you’ve joined.

Then, at some point during the week, while you are waiting for dinner to warm up (or arrive) you jump into a discussion or answer a question.

Finally, when there is a break in the action from the big game you are watching, Share An Update.

It is important to note that there are websites and applications available that will empower you to be more effective interacting and sharing information. While those are beyond the scope of this program, a quick search online and you will find plenty.

Creating A Referral Machine 6 of 7

If you do a spectacular job educating your network on recognizing referrals, great. That, however, is not enough. You need to empower them with the ability to talk to prospective clients about what it is you do.

For example, if they recognize that the displaced executive is a potential client to refer to you, great. Encourage them to strike up a conversation with the person (and they will if they know, like and trust you). And transition into a discussion about franchising. Here is an example:

“I am sorry you are in transition. What is your next move? Have you considered becoming your own boss? I understand that franchising is almost a fool-proof means of successfully being in business. I know a great franchise broker … there is no obligation to meet with him and his services are essentially free, as the franchisors pay his fees.”

In addition to general conversation, empower your referral machine with non-technical buzz words and catch phrases about your industry (as well as what they mean) … Franchise Fee … Ongoing Royalties … FDD … Earnings Claim … Discovery Day. Your network should know enough to talk about what you do but not enough to do it.

Finally, encourage your network to hook you into the situation. In short, encourage the person to talk about you in a connecting sense. Returning to the example from before “I know a great franchise broker. There is no obligation to meet with him and his services are essentially free, as the franchisors pay his fees.”

keep the gears

30 Second Commercial 3 of 8

Your 30-second commercial should address “who you are?” There is no magic to stating the WHO, the Basic Introduction . After all, it is (well) basic. Nevertheless, this part of the 30-second commercial is important.

In your Basic Introduction you need to clearly articulate your name (is it Mike or Michael … Kim or Kimberly) Then state your title and work you are associated with. Each of these are important.

Silver modern Stopwatch

Now, nothing says it has to be in this precise order … You could achieve the same thing by re-stating the example “I am a franchise broker with National Franchising Group … I am John Doe” Or “I am with National Franchising Group. My name is John Doe. I am a franchise broker.”

Whatever the case, your 30-second commercial should address “who you are?” The next step is in part four.

Words of Wisdom: Heroic Opportunity Statements

 

It is not often that someone asks, “Do you know a good realtor?” It may happen, but it likely will not happen as often as someone says, “Man, with a new kid, our house is too small” … or … “With the kids off to college, the house is too big” … or … “The neighborhood has gotten too noisy.”

While these only reference opportunities for realtors, they serve to underscore the point: People are making statements to you every day that contain clues to the things they need help with. Listen for those clues, engage them in conversation about their pain, and then use your fellow members to find a way to help those people.