27. May 2008 by admin.

Last week, I received an email from a Real Estate agent that said:

“In order to serve you better, please send me a list of 10 people who you think I should know.”

In order to serve who better? Are you kidding me?

The same day, I received an email from the local chamber of commerce advertising a new “Speed-Networking” group that is looking for new members.  I dismissed the wave of nausea that came over me at the thought of another networking group destroying the art of business networking. Rather than tell you what networking is, I’d like to use this example to show you what it is not.

First, let me say that I have attended a few “Speed Networking” events and I had a really nice time. That being said, I noticed a recurring theme at these events. Typically, they have been started by one or two very enthusiastic and motivated individuals. They normally charge a very nominal fee for membership which beats the heck out of BNI. The reality is that the main purpose of the meeting is to meet everyone at the meeting for a couple of minutes. I agree that this is a great way to break the ice and get mingling with people you might not otherwise get a chance to meet. This is where the praise ends for me.

Speed Networking, by it’s very essence is to pass as many leads in a very short period of time. This is fine but out of the twenty people there, you really don’t get to know them in that short time. You’ve known your cup of coffee longer than you’ve known these people. How could you possibly develop any real relationship or trust them to give them your personal contacts phone numbers?

The only thing you can truly accomplish is to make introductions to people. Find a couple you would like to get to know more and ask them for their contact information for a face to face meeting later on. If someone starts hounding you for leads, tell them that’s not what you’re about. Develop the relationship first. If they are genuine, they will take the time to get to know you. Trust me… the business will come. Invest the time and reap the benefits of a long lasting relationship.

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14. May 2008 by admin.

Whether you are working with a company, working on your relationship, or buying that new computer, it pays to know the formula to get what you want.

No matter what combination you choose, you can only really have two.  If you pick cheap and fast, chances are, it’s not going to be very good. Likewise, if you pick good and fast, it’s not going to be very cheap.

So how do you get what you want? 

Pick the one you want the most and the one you are willing to comprimise on. So, if you want it fast, you have to give up either good or cheap.  Which one matters more to you?
 
The same could be said for relationships

If you are trying to enhance a relationship with a business partner or even your significant other, you can still only pick two. Choose wisely and you’ll have more control over the end-result. In this scenario, you could replace “cheap” with “easy”. If you want a solid or good relationship, go slow and spend the time to build the relationship. 

And sales? 

If you want that quick sale and are tempted to go for cheap and fast, don’t be surprised if your relationship isn’t very good. Building a good relationship takes time, effort, and sometimes, even money.  That’s why it costs more to generate new business than it does to maintain old business.  Many companies have account representatives that do nothing but maintain current and old relationships.

 Tell us about your stories and thoughts in the comments today!

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12. May 2008 by admin.

Here’s an interview I participated in with Josh Hinds, owner of BusinessNetworkingAdvice.com.
Josh Hinds is a professional speaker who interviews business professionals with regards to networking and connecting people in business. I enjoyed participating in this interview and I hope you find some words of wisdom as well…

Kevin M. Butler, Owner
Chamberfish.com

How do you define Business Networking and why do you feel it is important?

Business networking is a simple yet often misused form of marketing for your business. Stephen Covey gives examples of how relationships have evolved over time. In the past, relationships and communication were based on ethics, morals, and the character of the individual. As these concepts evolved, we began to take shortcuts to attempt to get to the end-result faster. The “Mental Technologies” are manipulative, quick-fix, and demeaning.
Business networking, when succesfully performed, goes back to the traditional ways of communicating. I would define business networking as relationships but it’s much more complex. There is no formula, secret or manual. Developing geniune relationships will generate business down the road either directly for your benefit or for your other immediate business connections.

Can you share a couple of ideas that someone could put into practice that would help them to improve their business networking skills?

Business networking isn’t about referrals. It’s about knowing someone so well that you always have their personal interest and business interest at heart. When you schedule a one-to-one meeting, get to know their family, hobbies, and goals. By the end of the meeting, you will probably have several resources to suggest to them.

By offering resources to help someone reach personal goals is just as important as a business referral. Additionally, when you are going through your daily life, you will pick up additional resources that will remind you how you can help others. If you have generated a real relationship, they will be doing the same thing for you. Always, let everyone you know what your goals and needs are as they change and evolve so they can always be on the lookout.

At what point in the initial connection (i.e. upon first meeting someone) do you exchange business cards? Or what is your approach towards getting their card so that follow-up is possible?

Most often, I will immediately exchange business cards. This gets the formality out of the way. I then ask what company their with, and what their role is. At this point, I know whether they are an immediate business lead. The conversation doesn’t stop there!
Now that I’ve made a formal introduction, business conversation, I start to move into the personal conversation which includes their goals, opinions, and ideas. This is where the relationship is born.
I’ve made several connections only through the personal conversation where I had absolutely no intention to make any business connections. Not only does this potentially start a nice friendship, it also may identify other connections. You never know where your conversation will lead you. I would rather make two or three geniune connections slowly instead of powering through a networking event collecting business cards of thirty people that I haven’t had the chance really spend any time with. The value lies in quality, not quantity.

Based on your experiences, which places and activities have you found best for meeting new people and expanding your business network?

Trade shows are my personal favorite because you can often meet business owners and interesting people. Always place your booth in a high traffic location.
Paid networking groups are normally my least favorite because it’s referral driven and relationships tend to suffer. Since most of them only let one type of business in, there is often a disparity of referrals. A gift-basket sales person may get tons of referrals while the building architect may get one referral a year.
Chamber of commerce events are fun and potentially rewarding however, it’s usually a feeding frenzy for sales people.(and I say that being one of them…) Although I don’t normally recommend moving through a crowd quickly, in this case, it helps. Make quick introductions, decide if there is a potential relationship is possible. If so, stop and spend the time. If not, move on until you find someone interesting.

Kevin, you’re the founder of ChamberFish.com — can you share a quick overview, as well as some of the benefits that folks will gain from plugging into what you all are doing there? Also, what led you to start ChamberFish.com?

I find that many small to medium sized business owners are at work and do not spend alot of time networking. They are speding 10-14 hours a day managing their business and don’t feel the value of networking. By providing an online venue for networking, they have the ability to network on their own time.
Also, Chamberfish provides the ability to send, receive, and manage electronic referrals within your own personal network. You can also post “projects” that you would like to have other members refer their network to. For example, let’s say you want someone to mow your lawn. Once you post your project, other members will see this and can either refer themselves or someone in their personal network.
Chamberfish.com is free and will be supported only by very modest ad-space sales.

Can you share a personal “networking” success story with us?

About a year ago, my wife started talonbookkeeping.com, a bookkeeping service for small to medium sized businesses. We posted a craigslist ad and received our first client. Charlie was a former baseball player looking for bookkeeping services. We met with Charlie and upon hearing about his background and goals, I thought he would be a great person to introduce to my friend Scott who had a similar background and goals. We introduced them and they decided to go into business together as sport agents and started Winning Edge Sports and Entertainment, LLC.
Since then, Scott was recruited for several local marketing campaigns, manages several athletes, and is now in the process of developing a local cable television show highlighting amatuer althetes who are working towards the pros.
The only effort it took on my part was listening and connecting two people together who could complement each other. I expected nothing in return but it has truly enhanced my friendship with Scott and I look forward to his success. Chances are, when I need a resource or connection, he will be there for me too.

Want to read more about business networking advice?

BusinessNetworkingAdvice.com provides a great blog of interviews with several influential business minds and their thoughts on business networking. Reading about other professional’s experiences is inspirational and educational to all of us.

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Use the Contact Us tab to tell us about it!

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