Social Media As Compared To Traditional Networking

Everyone has been to a networking event … Business After-Hours, Open House or Tradeshow … A gathering of people with the ability to interact with each other. Do you know what? That is what social media is, nothing more than a networking event. It is just another networking event, EXCEPT for some important differences.

First, your average networking event might have a few hundred people all from a local area. Social media, however, boast having millions of people participating (and likely 100’s of thousands in your region) and they are scattered all over the world.

Second, most networking events operate on a particular day and time. If you happen to be busy during that day and time (say, Friday at 7:30 am), you are out of luck until the next event. With LinkedIn, however, this networking event is going 24 hours a day, 7 days a week, 365 days a year. During the big game you can participate in the event while you watch TV. If you can’t sleep, you can come online to the event. Even on Thanksgiving Day (or any other major holiday) you can be part of this continuously operating networking event.

Finally, when you walk into a networking event and see new faces, you cannot tell who is who. The guy in the suit could be a corporate executive or someone in transition. You just don’t know. If you are looking to network with attorneys, you generally find them via introduction or by trial and error. With social media (especially LinkedIn, in this instance), you can find the people you are looking for quickly and you can know a ton about them before you start to converse.

So approach social media as if it were just another networking event, but know that it also has the wonderful advantages of being worldwide and immense, continuously operating and rich with searchable information.

Warning For Social Media Networking

Far too often, people figuratively chain themselves to their computer and clank away in LinkedIn, Facebook or Twitter hoping to create business for themselves. While they may stumble onto some, it seldom reaches the level they hope for.

Know this… Social media (and especially LinkedIn) is not a sales machine… it is not an order-taking system…it is not an ATM. It is merely a tool that you can use to better network yourself … It is not a replacement for networking.

Think of it in terms of this analogy … We networked before we had phones. People worldwide and people in this country built vast and complex civilizations long before they had any sort of electronic telecommunications. They were able to network themselves … Word-of-mouth, couriers and carrier pigeons did the trick. Back in the day, people did business and associated with those they knew, they liked and they trusted.

When the telephone came along, it did not change the underlying aspects of networking. It just made it easier. But they still did business with those they knew, they liked and they trusted. The telephone was just a tool.

The same is true of social media (such as LinkedIn, Facebook and Twitter). It is just a tool. It is not networking. It is just a tool to make it easier to get to know people, determine if we like them, and then ultimately trust them.

Creating a Referral Machine 7 of 7

Congratulations! You’ve established relationships and empowered that network. Great! But remember there is no such thing as perpetual motion. Too often, people work hard to create a referral machine only to watch it break down because they erroneously assume that an empowered network will just keep kicking out referrals.

Think of it like pushing a car: You have to work really hard to get the car rolling. Once the car is rolling you only have to exert mild force to keep it moving. But don’t let it stop because then it is like starting all over.

Establishing relationships and empowering the network is the Herculean push to get things moving. The mild force to keep it all moving involves three things.

Ask: Continue to ask for referrals, including things your network might not see. Don’t get frustrated if they are not referring things that seem obvious to you. Remember, they don’t live in your world and don’t see it as you do. So ask!

  • Can you introduce me to…?
  • Could you connect me to speak at this event?
  • Would you keep your eyes open for…?

Appreciate: No matter what your network does for you, thank them. If a referral goes nowhere, thank them anyway. Why? The fact they are thinking of you is excuse enough to celebrate. Your referral machine is working!

Also, appreciation is a wonderful motivator. Dole it out and people will do whatever it takes to get more. Few people thank others. You will set yourself apart when you show your appreciation.

Clarify: No matter how well you educate and empower, your network is going to get it wrong from time to time. They want to help you, but they are going to send you referrals that are, well, bad.

Don’t get frustrated. They want to help and they are trying. Reconnect with them and clarify your request. One small correction in how they perceive what a good referral for you is could spell the difference between continued bad referrals and a great new client.

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.”

30-Second Commercial: Part 6 of 8

Now clearly articulating WHO you are, WHAT you do and WHY you are uniquely qualified is nice. However, in a sense, it is like having a souped up car with no wheels. To complete your 30-second commercial, you need to clearly state WHAT it is you need.

Now I hear lots of 30-second commercials and many of them have a weak finish. This is because they have a wimpy ASK or request. The best way to illustrate this is through an example … An example of what not to do. Do not make your HOW statement something like, “A good referral for me is someone in transition or not happy with the direction of their career.” Rather, here is a better example.

“If you know of someone in transition or not happy with the direction of their career please introduce me to them.”

The main difference between these two is that the second has a “call to action.” If you see or know of this, please send it my way … Or give me their number … Or invite them to my seminar.

The first example … A good referral for me is someone in transition or not happy with the direction of their career … gives the same information, but it leaves someone wanting to say, “That’s nice.”

It is like my kids. They will say, “Dad, I am hungry.” And my response is, “Thanks. That is good to know.” They know now they need to make a Strong Definite Request. “Dad, can you cook me Mac-n-Cheese?” They are asking for action, which is far more powerful.

30-Second Commercial: Part 5 of 8

Everyone has competition, including you. What makes you unique amongst your competition?

Again, WHY you? Your 30-second commercial needs to convey credibility and confidence that serves to answer that question before it is asked. Consider an example.

“Not only have I helped more than 100 people get into the right franchise, I also spent 10 years as a CPA … helping my clients know what they were getting.”

Who would a prospective franchisee prefer to work with? Just anyone or someone with this background? The answer should be obvious (at least the question was intended to be rhetorical). The point is that Inspiring Confidence (answering the “WHY you?”) is vital to your 30-second commercial.

30-Second Commercial: Part 2 of 8

To build a strong network of contacts that give you referrals, contacts and information, you need to have a concise, yet very compelling, 30-second commercial. The problem is that you have SO MUCH to say and 30 seconds is really not a lot of time.

So to conquer the challenge of conveying lots of information in a short period of time, it is helpful to have a framework to work with. Here is an effective one:

• Start with a basic introduction for yourself (this addresses the WHO you are) …

• Add to that a Message (which addresses the WHAT you do) …

• From there, you need to Inspire Confidence or create credibility (which tackles the WHY you over all the other choices) …

• Then you wrap this up with a Strong Definite Request of what you need (this is the HOW they can help you).

Now, if you carefully draft each of these sub-parts and then piece them together with your own personal flair, you end up with a very effective 30-second commercial. For more, see Part 3.

30-Second Commercials: Part 1 of 8

Essentially, networking is about you creating a series of relationships (also known as a network). The end game for you is to get the network to help you. To get this, three things need to happen … Your network needs to KNOW you … Your network needs to LIKE you … And, your network needs to TRUST you.

Now, in establishing this KNOW, LIKE & TRUST, those you hope to add to your network NEED (not just WANT, but NEED) to have a firm sense as to…

• WHO you are (name, business name, basic product/service) …

• WHAT you do (along with when you do it) …

• WHY they should do business with you or WHY they should refer you as opposed to other options

• And, HOW they can help you (Who are people you want to be referred to? … Who do you want to meet? … What information do you need?).

In a networking sense, the primary limitation to communicating all this (especially amongst people you are meeting for the first time) is simply ATTENTION SPAN.

In somewhere around 30 seconds, you need to effectively communicate all these things or lose (or at least risk losing) their minds to something (or someone) else. For more, see Part 2.

Tips For Improving Small Talk

“Small Talk” is an art. Like any art, you can improve how you do it through practice. Here are some ideas for becoming more proficient at small talk.

• THINK … On the way to the next event or when you have some idle time, work through in your mind how you envision your “small talk” going. Review the questions you will ask in your mind. See yourself listening, summarizing, and sharing.

• LISTEN … “Small talk” is all around you, every day. Listen to it, especially those who are good at it. See how they weave from one question to the next and how they transition to business, return to small talk and then exit the conversation.

• ENGAGE … Take every opportunity to engage in “small talk”. When you are in line at the store check out. With a server in a restaurant. With the receptionist at your next appointment. You will find the more you engage in small talk, the more comfortable you get at it.

The most important thing you need to do to be good at “small talk” is develop an attitude of belief. Periodically, you need to tell yourself, “I can carry a conversation. I can. I am good at it. I enjoy it. I like how it lifts the spirits of others. And I love what it is doing for my networking. I can carry a conversation.”

Exit Gracefully From Networking Conversations

Business connections at networking events are great. Whatever the case, do not churn the entire event away in a single one. Nothing says that you need to engage in a dozen different conversations over the course of an hour. Two or three is plenty. Remember this is not speed dating, rather, it’s networking (building relationships). Given that, you should develop some ways of moving on. As with anything else, honesty is the best policy.

Here are some great lines for doing that:

• “Thanks for your time. I told myself I would meet three interesting people at this event. I have two more to go.”

• “There is someone over there that I need to connect with.”

• “Is there anyone here in particular you would like to meet? I would be glad to introduce you.”