How to Know if Your Networking is Working

I speak about networking several times a month and one question I can count on getting asked is "How do I know which networking events to attend or organizations to join?" This question is on people's minds because it is all too easy to get caught up in the busy-ness of networking with only nominal benefit.

A common misperception is that the purpose of all networking is to find clients and customers. While gaining new clients is vital, the truth is networking can and should have multiple purposes. If you are networking only for new business you are missing out on tremendous opportunities.
A balanced strategic approach to new business development includes multiple forms of marketing, of which networking is only one tactic. You can increase your networking impact by selecting specific networking groups based on what you need to reach your business goals. Then define specific objectives for each group or event with which you can measure your return on your time investment.

I typically recommend that you choose ONE group for each of the five types of organizations described below. If you try to do more than that, you will spread yourself too thin, are less likely to follow through on follow-up and reduce the effectiveness of networking.

Sales & Business Development – Choose one group specifically for connecting with potential clients and sales development. Choosing which group to attend depends on your target market. If your clients are small to medium business owners in your geographic location, your local Chamber of Commerce is a likely candidate.

Another way to find a group for this objective is to focus on the industries your clients are in. Just about every industry has a professional organization with regular meetings. Read your local newspaper’s business calendar to get ideas.

Prior to making a commitment to join, I suggest you visit any organization 2-3 times. As you investigate each group ask yourself, is this group target market or target partner rich? Is the culture one that invites reciprocity and relationship?

Your key objective from your membership in this group is to build relationships of mutual benefit that lead to new business. With this focus you will be able to easily measure how much business you got from it. This may sound pretty obvious but it is curious to see how many people are networking ineffectively at this level.

• Here is a quick basic formula to figure out your return:


• Hours spent attending event = X multiplied by your hourly rate


• Dollars spent in membership or fees = X
  Add together to get your


• Total investment in networking group = $$

How many leads and opportunties are you gaining to recoup these costs?

Don't forget to include the meetings outside of the regular networking event to get acquainted with partners. That is a time investment that equates to dollars too. Don't fool yourself on the value of your time. Make it an equitable exchange by working with all the facts.

Contribution - Choose one group for contribution. This might be a Lions or Rotary club, Habitat for Humanity, the Boys & Girls Club or other non-profit organization. When you attend this group your objective is to give back to the community or world. You DO NOT have your sales hat on in this type of group. The dynamic of building relationships with like minded people is that no only do you build life long friends but find those who become key resources and connections to opportunities.

Professional or Personal Development – Sales leaders pursue continuous improvement. Choose one group for professional or personal development. This might be an industry or trade group, Toastmasters, or leadership group. The objective of this type of group is to continue to hone your skills and add to your knowledge base. You DO NOT have your sales hat on in this type of group either. However as you meet and build relationships with people sharing your value of continuous improvement you have opportunity to meet potential strategic partners and referral sources.

Fun & Relaxation – Now choose one group for fun. This might be a hobby group, athletic group, spiritual group, etc. The objective for this type of group is for renewal, enjoyment and experience. You are a whole person. Every thing you do does not have to be about building business. Have some fun. It’s easy to get wrapped up in activity, worrying and focused on business outcomes and this type of group keeps you anchored to reality. Giving your self a break from business increases functionality everywhere else.

Professional Support Team - As you become more established in your business and have clearly defined growth goals for yourself, I suggest you add one more type of group; a Mastermind group. The principle of the Mastermind Alliance was first introduced by Napoleon Hill in the late 40's when he published, Think and Grow Rich. A Mastermind group is a small group of trusted advisors who share the same goal. I've been involved personally in 3 types of mastermind alliances over the years. Their contributions have been invaluable to the growth of my company and I am humbled that all who participated felt the same way.

Now if you are in the first year or two of business development, I suggest you choose only 4 organizations to which you are committed to on a regular basis. Since your networking quality will depend on your ability to follow up, stay focused!

Strategic networking has multiple purposes. It is much easier to match your objectives with your goals and choose a group accordingly that you can test the outcome. For example, if the only thing you're getting out of your business development networking is a sense of contribution, you know it's time to start looking for another business development group!

In closing, ask yourself “Are the groups I am involved in meeting my objectives?” I challenge you to do a quick review of this past quarter activities. Are you getting a return on your time, money and energy investment? If not, it's time to reassess where to invest your time.

Network strategically. Set clear objectives and measure your results. Doing so will make your investment in time and money pay off.

Ramping Up Online Networking

I’ve decided to tackle networking online or “social networking.” I’ve been waiting in the wings for someone to figure it all out and showcase how this rapidly evolving medium can help me and my clients, the small business owner, save time, money, and increase impact. But that hasn’t happened yet so I figured it was time to throw my hat in the ring.

Over the last 18 months I’ve been invited to join many networks and personally have growing networks on Linked In, Biznik, and Plaxo Pulse. My sons use Facebook and MySpace. Others in my network use Naymz and Mamasource. Until recently I had not yet seen clearly how these mediums could impact sales, leads, and partnerships.

It’s taken me a while to come around to the idea that social networking might not be a waste of time. My initial skepticism seemed to be supported when I asked the people in my network who were using online social networking how it was working for them. They were as stumped as I was about how to use it to reach their business goals. Hmmm. Made me think. Is this a good investment of time?

Then I was contacted by people who found me through the network and wanted to sell me something. Oooh. That really didn’t sit well. Each time this happened it confirmed my belief that this whole social networking thing could be handled as poorly as networking in person. As a matter of fact, the only viable application I saw in social networking was for job seekers who were able to make connections that helped them learn more about the companies they were applying to and get introductions to key people within the organization.

However, I am beginning to change my mind. While sharing my online networking frustrations with a colleague, Elge Premeau, The eMarketing Strategist, she said “Kathie, you wouldn’t go to a networking event, stand in the corner of the room the whole time and then complain afterwards about how it didn’t work. So why are you doing it online? You teach people how to strategically network in person so take the same approach online.” My belief is that people do business (online or off) with those they know, like and trust. I am confident the fundamental principles that make for successful face-to-face networking are the same for online social networking.

A few weeks ago, I met the co-founders of Biznik, a social networking site I’ve been participating if for the last six months, and had a lively discussion about the correlations between face-to-face networking and online networking. I believe Biznik is going to be a major player in changing the face of online networking in a highly practical way! Biznik is unique. It’s highly targeted to independent professionals and combines an active online community, article publication, resources, and local face-to-face networking events. Is Biznik for everyone? No. But it has shown me how social networking can effectively about build relationships online.

So, now that I’ve got a grasp on how online social networking can be used as a strategic marketing activity, I’m going to write a brief, highly targeted, ebook on the topic. It will describe how to choose social networking sites, how to create an effective online profile and how to use social networking sites to build relationships with potential clients and strategic partners.I want to include plenty of real world examples which is where I need your help. I’m asking people in my network to share their stories about how they’ve used social networking and what they’ve gotten from the experience. Here’s what I’d like to know:

• Do you participate in social networking sites? If so, which ones?
• How much time would you estimate you spend weekly communicating, maintaining, and updating your online networks?
• What type of successes have you found through your use of online networking?

If you take the time to add your comments below, I’ll send you a complimentary copy of my ebook on social networking when it’s done.

Sales Secret from Mexico - Start the Conversation

Laying on the beach in sunny Puerto Vallarta for nearly 2 weeks, I was gently reminded of one of the simplest secrets to more sales. It boils down to getting a conversation started.

War stories have been told and many have experienced the vendors in Mexico whether on the beach or at the market. I had to listen to many a bragging story poolside about how one of our comrades negotiated a great deal. For those of us from America it can become sport for us.

As I had time to reflect, I realized these people make their living making it easy for you and me to take home mementos of our experience or local goods. There are so many of them. I wondered how they could compete. It made me curious.

They all use the same approach. Some with more finesse than others but their goal is simple; to engage you, the tourist, in conversation about their product.

With most of us sunbathing, book reading or napping, you might wonder how they could succeed without being a big nuisance. I have to admit, during the first few days, they were a little distracting but when you realize their culture and business model I found it is fairly easy to adapt.

Their techniques were varied. On the beach or by the pool they might whistle to get my attention. Others times they called gently, "hey lady!" and held up their wares. One guy came through our beach at the same time every day calling out in his ringing voice "Muffin man, muffin man! Line up 2 by 2 to get your fresh muffins!"

They were very gracious when my reply was, "no, gracias." However, if I did take an interest in their wares by taking a long look or asking a question, they were quick to start a conversation. Describing their product and asking me a question in return.

In contrast when we were in the market downtown, we were regularly invited into the shops to take a look around. "Looking is free" they would comment. Or my favorite, "You like this? Today for you, senora, is almost free."

While I giggled from time to time as I observed and participated in the sales process it drove home the point. The sale starts with a conversation. Do all sales conversations end successfully? No! But I was reminded, the more conversations you have, the more sales you will get. I know that sounds obvious but it made me ask myself the following question, which I will in turn ask you.

• How many techniques do you employ to start a conversation with your prospects, customers, and partners?
• Are you comfortable with the conversation starters you are using today? If not, what else might you do? Get creative.

The more conversations you have, the more your sales will grow!

Another AHA from the beach: Why some of the vendors do better than others. They remember their customers. We first visited PV last year. One of the vendors we purchased from remembered us. Amazing! Out of all the people strewn out along Banderas Bay. His friendly greeting and inquiry about the earrings I bought last year was just another confirmation that the business basics are the same everywhere.

Our new friend is Daniel. He works the beach every day during the tourist seasons. We learned a little about his family. Now that we know him and he knows us, we wouldn't dream of buying jewelry from anyone else.

Sounds familiar doesn't it. Start the conversation. Build rapport. It is about the relationship!

Happy Selling!

More Sales Made Easy! 5 Steps to Boost your Impact

Sales increase is the buzz in the air this year. Tactics, opportunities, belief, excitement! As a business strategist I find myself dissecting this activity, yet again, to find it is the little things that make a big difference.

The act of selling is comprised of so many components (not to mention the changing markets) it is an activity that requires continuous attention. Here are some tips to tune up and make the process your own.

1. Map the sales cycle. i.e. lead generation, first contact, second contact, proposal, review, close. Make sure you identify all the steps. (My technique is to get out a chart pad and make a flow chart.) After you have identified the steps, check yourself. Where do you lose prospects? What can you adjust to better connect with the client?
2. Review your sales conversation. Are you using a presentation style, discovery approach or combination of both? Identify the key conversation components and review your vocabulary. i.e. opening questions, developing questions, qualifying questions, closing questions, power statements, follow up questions, sales presentation. Ask a peer for feedback on your process.
3. Check your belief system. What is going on in your head as you work through the steps of the sales process? i.e. Do you find yourself thinking, "Sales is hard", "Nobody is buying", "I need sales", etc? This is an area that can kill your sales results! If you find you are suffering from "stinking thinking", call a coach, get some training, ask your peers...do something! Until you fix this all the others will not create lasting change.
4. Re-define your target market. Are you talking to the right prospects? If you have been selling, review your best customers. Create a profile of your ideal target market. Focus on their demographics, geographics, and psychographics*. *values, character qualities, and motivators Make sure you are working with the right people!
5. Assess your frequency. Are you performing your highest payoff sales tasks consistently? Why not? Implement systems, block time, and find a way to hold yourself accountable.

When you need more sales, whether your sales cycle is short or long, fine tuning any one of these areas will create impact.

Need more sales training? Check out Jeff Schneider at Sandler Sales System. Click on the calendar to find out more about his Cold Calling Clinics and Sales Boot Camps.

Another great sales resource is the book by Ron Willingham, "Integrity Based Selling for the 21st Century: How to Sell How People Want to Buy".

We are looking for more sales tips! Let us your favorite.

Fresh rules for networking! Need business? Connect up!

Most of the people I know are networking to generate new business. Some are operating under the belief that networking is a new form of cold calling and start selling too early in the conversation. You know what I mean. I don't know about you, but every time I network, I run into someone trying to sell me something. I am usually not their prospect but they don't ask enough questions to know! They assume everyone is their prospect. Not so!

There is so much available in the information sphere that addresses the 'how to' of networking that it is surprising that so many still are challenged using it to produce consistent results! Check yourself? How do you define the activity?

Let's start with redefining the activity of networking. Instead of simply connecting or building relationships, look at networking as a strategic marketing tactic. As a part of your overall marketing strategy, you would likely be much more specific about where you network, who you connect with, and how you follow up!

Here are a few quick rules for networking strategically...and making contacts that lead to business!
1. Target events that are rich with those with your target market or potential strategic partners.
2. Don't start with selling. Ask good questions!
3. See the big picture. The person you meet may not be in need of your services but could connect you to opportunities you wouldn't otherwise find.
4. Follow up. Do your homework and identify your A prospects & partners (or cool people you meet). When you meet those who fit that criteria or close to it. Take the next step and follow up. This is where the money is made!

Next time you network, try these new rules! What about you? Do you have any tips for networking strategically?

How to...Choose a Networking Group

I was speaking for a group this week and was asked for the best way to find (and choose) a networking group. And even more specifically for their particular industry, loan originators. While I gave some pointers about choosing different types of groups and the tips to determine the dynamics I realized I neglected to get right down to the "how to".

I've been networking for at least 18 years and a lot has changed since the introduction of franchised leads groups to the practice of networking. Both good and bad. One thing I've discovered is many learn the practice of networking without really grasping the purpose. We published an article a few months ago, "The Evolution of Networking", in which we address the typical phases individuals go through as they master the purpose and practices. Check the article at our website.

How to find a networking group.

1. Check your local papers and business publications for the business calendar.
2. Ask others in your profession where they network.
3. Google "networking, (your local area)" and see what comes up. In Portland Metropolitan area, check out the list we've assembled to serve you.
4. Visit your local chamber, or visit www.bni.com, www.letip.com and check out local chapters.

Before visiting or joining a networking group. Go back to basics. These basics should be in your working marketing plan. Most of us are continually refining these definitions as we gain experience and master the sales process.

1. Get clear. Think about what you really do for your customers. Not in titles or in vague descriptions. Get down to the pains, frustrations, and angst you relieve. Build a power word bank of those key words in the pain quadrant. Don't forget to add words from the WOW! spectrum too. After working with you, what is it your clients feels? For example, peace of mind, increase cash flow, debt free, etc. Remember this is not to manipulate prospects but rather to better connect, build rapport, and discover fit and time frame for your services.


2. Get focused. Who are ideal prospects for you? Get specific and target your ideal market. Don't be afraid to go for those cream of the crop individuals or businesses. Vague answers, such as anyone who needs what you offer won't serve you, your customers, or your future network.


3. Get partners. Identify those who share your ideal target market. These might be businesses who complement yours or those who are related to those in your prospective customers. For example, if you are a lender, strategic partners might be escrow officers, title companies, real estate professionals, insurance agents, CPA, financial planners, etc. These are service providers who complement your service. To go beyond the obvious, you can peer into your prospects Rolodex. Look at personal services such as hairdressers, personal trainers, door to door dry cleaners, personal chefs, etc. The key is to connect with those who might be aware of prospects with a need you can fill, who really understand the value of reciprocity and the power of partnering to increase impact, exposure, and add value to their customers.


4. Get connected. Determine where to show up to make the connection. Select events, organizations, or periodicals that connect you with those in your ideal target market or with partners.

As you venture out to attend with the prospect of making connections, ask yourself. Will this group connect me with those in my ideal target market or those who could be partners? Your time and money are valuable. Visit any group twice before joining to see if the chemistry fits.

If you are not yet a subscriber to our monthly newsletter, QuickConnect for Busy People, sign up now to receive your complementary report "How to Measure Your Networking ROI (Return on Investment)".

If you have some recommendations on finding a networking group, please add your comments!

Lessons Learned from the Wheelchair

First of all, let me start with a statement of gratitude. My faith in a living God who is distinctly interested in me gave me a peace and trust that this incident would be for my good. I am grateful that this abrupt change in my situation, which could have put my life and business in a tailspin, has not. Rather the opposite. I've focused, driven deeper into the niche I want to serve and will be using what I learned to plan for a record breaking 2008.

I am an entrepreneur at heart. I have clients, appointments, networking events, and speaking engagements (not to mention my volunteer activities)....just like you. Juggling all this, first from a hospital bed and then from a wheelchair, gave me opportunity for a fresh perspective and understanding.

1. First and foremost, anything that can be done fully mobile can be done from a wheelchair (except driving when your right leg is the injured body part.) It doesn't mean that it is easy, just that it is possible. It all comes down to your choice, perspective, and drive.


2. Not all buildings that say they are ADA accessible have an accessible restroom. Something to consider if you are out and about for any length of time. Thank God for Laura, my newest team member, who helped me navigate some of those buildings.


3. When it comes to networking, some people will make a point to speak to you, others will make an effort not to. This is curious because some of these people knew me but didn't recognize me in the chair because they wouldn't make eye contact. I am still trying to psychoanalyze that phenomenon. I realize I was below eye level when looking around the room, but the wheelchair was pretty obvious. What is the story we have in our minds about those who may be handicapped?


4. People are generous with encouragement and support. Offers to help came flooding in. Follow through is another matter. This left me wondering. How many times have I done the same thing? Someone is in need, I offer help. I wonder at my intention. Do I really want to help or only if it is convenient? Follow through is a challenge in most settings. Our lives are so busy. Is it possible to be different when someone we know needs us?


5. Some people love giving. I experienced the spirit of generosity in ways I had not imagined. Some of my friends served in such a way that showed their delight in helping. Some offered to pick me up and drive just so they could spend time with me. This was humbling since I knew they run on a tight schedule and what they sacrificed to do this.


6. We all have limitations. I already knew this, so it wasn't new learning, but when all is said and done, we all have something. Some of us physical, some in our minds, some in resources, some in skill set. What I know is this; when we fix our eye on a meaningful goal and believe it can be accomplished, regardless of our limitations, it can be achieved.

I learned alot about myself too.

1. I have trouble asking for help when I can't see clearly how I can reciprocate. I am used to being able to return in kind more value than the information or assistance I request. In this scenario I had to ask for help solely counting on others kindness. This was hard!


2. I am pretty independant. For those who know me, they say, DUH! Of course you are. I had trouble not attempting doing things myself before asking for help. It didn't even occur to me to ask until I had tried it first. My independent spirit can be both a strength and weakness.


3. I can get a lot done when I can't be out and about! I already knew this in part but the leaps my business has moved forward in the last 90 days has been phenomenal. Partially due to my limited mobility and partially due to adding Laura James to the team. I could not have accomplished or even done business as easily without her contribution. As I become more mobile you will see her highlighted in the coaching and training arena.

The good that is coming out of this season of life outweighs the pain. 3 weeks more of limited mobility before I hope to pass "GO" and be fully mobile again.

My advice for the day: Stay focused and perservere! You will learn more and go farther! It's your choice.