How Deep is Your Network?

Check out this article by Dr. Ivan Misner who is the founder of the largest networking group in the world known as Business Networking International (BNI). It really hits home as to the need to strengthen and cultivate your existing relationships versus keep trying to find more people to network with.

You have a lot of contacts, but how well do you really know them? Strengthen the relationships you already have and you'll grow a strong network you can always depend on.

Recently someone I barely knew contacted me and asked if I would promote his business service within my networking organization. I considered this person a business associate, but definitely not someone I knew very well. That request made me think about how many people assume that if they've met you, they can ask for something that only a close associate would be willing to do.

Master networkers know that having a good contact doesn't necessarily make someone a good connection. Having run an international networking organization for more than two decades, one of the most important things I've learned is that it's not "what you know," or even "who you know." It's "how well you know them" that really counts in building a powerful personal network.

This means your network must not only be broad, it must also be deep. Unfortunately, I believe most people focus on the broad aspect more than the deep aspect. In other words, they concentrate on making more and more contacts hoping to find that one special person who'll solve their business needs this month.

When developing a reliable and effective network, it's very important to keep depth in mind as much as breadth! What do I mean by this? When you need to rely on others to help you out (promote your program to their client base or cross market your products), it's critical that you've done the work of strengthening your connections well in advance of your need.

When you're considering asking someone in your personal network for a favor, ask yourself if they're a "contact" or a "connection." In this context, a contact is someone you know, but with whom you haven't fully established a strong relationship. On the other hand, a connection is someone who knows you and trusts you because you've taken the time to establish credibility with them.

Unrealistic expectations of your network come from trying to "use" your network for support that your contacts might not feel you deserve, or feel they have no obligation to provide. You really do have to earn the loyalty and engagement of your referral sources. You want your network to have very deep roots.

In Southern California, we have many huge, tall and lush eucalyptus trees that topple over fairly easily in heavy winds almost every year. When they're uprooted and blown over by the wind, you can see that their root system is broad and wide, but not very deep at all. Don't let this happen to you! The following are some tangible ways to deepen the roots of your network:

How Deep is Your Network?

• Build quality relationships. Take the time necessary to deepen the relationships between you and your referral sources. We're all so driven and pressed for time; but in order to deepen your networking relationships, you must make the time to go beyond the normal business interactions with those from whom you want to be able to ask for support. Invite them to appropriate social functions, backyard barbecues and sporting events. Get to know these key people outside of the business environment whenever possible. The more of a friendship you can count between you, the more expectations you can both have from each other's networking efforts.
• Think about where you can network to help build deep roots. There are the tried-and-true places to network, such as referral groups, networking mixers, social events and online networks. I talk about several different types of networks that you should consider in my article, "Want to Join a Networking Group?." Remember, however, that it's not enough to just show up; you must establish credibility with people before you can expect them to help you in some way. When someone tries to hurry the process, they tend to hurt relationships--not build their business.
• Change your focus from "what's in it for me?" to "what can I offer you?" This is perhaps the most powerful technique for deepening and widening your networks. When building a deep network, do the things you can to bring business and contacts to your networking partners. Share pertinent information with them and invite them to business meetings that'll position them favorably with others they need to get to know. Keep in mind that you want to get to the point where your networking partners know you always have something to give them. In short, do what it takes to "earn" the help you might need to ask for down the road. It's no wonder the most effective and powerful networking entrepreneurs live by the philosophy that "givers gain."

I hope you're seeing a trend in each of these points. When deepening your network, you want to focus on giving to your referral sources. It's that tried-and-true analogy of farming versus hunting when building a business through word of mouth. Give your time, give your knowledge, and give what your referral sources need to succeed. As you develop stronger networking skills, it's better to put on the farmer's overalls and cultivate the connections you need to be able to call in support for programs and products you want to promote. We all know the best time to plant an oak tree was 25 years ago; however, the next best time is right now! It's never too late to change your focus and develop business relationships with very deep roots--as well as far-reaching breadth.

Pam Patrone
Building Business Relationships
508-942-9307
businessrelationshipbuilding@gmail.com


Michael Barbarita
Next Step CFO
Relationship Marketing
781-326-3822
yourcfo@nextstepcfo.net

Vendor/Supplier to Customer Relationships

Three weeks ago I identified the four forms of Business Relationships. They are:

1. Strategic Partnership Relationship
2. Referral Relationship
3. Internet Relationship
4. Vendor/Supplier - Customer Relationship

In my last 3 articles I defined the strategic partnership relationship, the referral relationship and the internet relationship. This week I would like to define the Vendor/Supplier to Customer Relationship.
Vendor/Supplier to Customer Relationship - For the most part if we are selling a product or service then we are a vendor or a supplier. As vendors, we have a commitment and a responsibility to our customers to provide high quality products and services. If we fall short of this commitment and responsibility we owe it to our customer and to the relationship with our customer to rectify the situation as quickly and painlessly as possible. After all a customer is our most valuable asset and our relationship with that customer is the most valuable relationship!
The importance of maintaining good customer relationships is widely known but not widely practiced. Many times once we get a customer, instead of continuously cultivating the relationship we become complacent and simply go on to the next prospect while ignoring the last customer. The most successful business people are not only seeking new business but are also cultivating the relationships of existing customers. They understand that without customers there is no business.
Enhancing and cultivating customer relationships can be done through communicating in the following ways:

• Telephone calls - to see if everything you provided the customer is to their liking
• Visit - Customers are always impressed by periodic visits, especially if you take them to lunch or have a special deal or discount on future purchases
• Email - A follow up email to see if there is anything else you can do
• Greeting Card - To show your appreciation and gratitude in having them as a customer
• Gifts - A small gift card ($5) to Starbucks on occasion will go a long way in the customer's eyes.

Maintaining customer relationships lets the customer know their business is important to you. That makes them feel good and when the customer feels good about your business they will be a customer for life!


Pam Patrone
Building Business Relationships
508-942-9307
pamela284@yahoo.com

Michael Barbarita
Next Step CFO
Relationship Marketing
781-326-3822
yourcfo@nextstepcfo.net

Boost Sales With More Referrals

Here are 3 strategies to help you increase lead generation from networking opportunities.

Ivan Misner is a New York Times bestselling author and founder and CEO of BNI, the world's largest referral organization with over 3,100 chapters in 17 countries around the world. His new book, Masters of Success can be viewed at www.MastersofSuccess.biz. Misner teaches business at Cal Poly University, Pomona and resides in Southern California with his wife and three children. Dr. Ivan Misner wrote the article below.
BNI (Business Networking International), which Dr. Ivan Misner founded generates 6.9 million referrals per year to it's members generating 3.1 Billion dollars in revenue for it's 145,000 members. It is very likely there is a BNI group near you. I strongly suggest you join one if you are serious about networking.
I like to teach entrepreneurs about the three R's of networking: relationships, reliability and referrals. First, however, let me preface my comments here with an important statistic. When businesspeople begin developing a referral-based business, they receive a vastly smaller percentage of referrals their first year. After the second year, the statistic is about twice as high as the first, and after the third year, it really jumps. This being said, let me talk about how the three Rs of networking affect these numbers and can help you develop a successful word-of-mouth-based business:

1. Relationships: Word-of-mouth is about "relationship marketing." If you approach the first year of your involvement in a networking group with the sole motivation of getting to know the other members well, you will be far ahead of the game. One of the most important things I've learned over the years is that it is not really what you know or who you know; rather, it's how well you know them that really counts! People do business with people they know and trust. In order for word-of-mouth marketing to work for you, you first have to build a strong foundation with the people you hope will refer you to others. That takes time, and the amount of time it takes varies from profession to profession. Obviously, some professions are much more sensitive than others to the development of referrals. So find reasons to meet with each person outside the networking meeting. Get to know them, and work on having them get to know you better. Make it clear that you value your relationship with each one of them.
2. Reliability: For the first year or so in a networking group, you are putting in your time. Your referral partners are testing you, checking you out and making sure that you deserve to have their valuable clients and contacts turned over to you. Therefore, you must be credible to the other professionals with whom you hope to network. Bear in mind that you should feel the same way, too. Before you risk your reputation with your clients by referring them to someone who takes less care of them than you would want taken, you must be very sure that the person to whom you refer them is reliable! How else are you going to know that-unless you use them personally over a period of time?
3. Referrals: After cultivating relationships and proving yourself to be reliable, you get referrals as the end result. In order for someone to receive, someone else has to give. This holds so true with referrals. I would suggest you perform a reality check to see just how effectively you are referring the people in your networking group. You might be surprised to find how little you actually refer others, or that you consistently refer the same two or three people.

If you aren't tracking your referrals (both given and received), then start tracking them. Look for patterns. I would anticipate that in the months following a month you were particularly active in referring others, you will find that you are receiving more referrals! I have seen the "what goes around, comes around" principle illustrated over and over in BNI, the networking organization I founded 20 years ago.
This is a natural progression and one that can't really be rushed. I know it can seem frustrating at times when you are anxious to see your bottom line increase quickly from all the referrals you are anticipating receiving, but believe me, if you are patient and apply these techniques, you will see word-of-mouth marketing work for you in a big way.
You can't take an orange tree and rip it up from the ground after a year and replant it on the other side of the yard, just because it wasn't bearing fruit where it was. You have to water, fertilize and care for the tree where it is. In time, it will produce fruit. Your efforts will pay off. You must approach building a word-of-mouth-based business this way. In a solid networking group, you are growing solid roots with the other participants. The worst thing for you to do is pull them up just as they are getting set.
Pam Patrone
Building Business Relationships
508-942-9307
pamela284@yahoo.com


Michael Barbarita
Next Step CFO
Relationship Marketing
781-326-3822
yourcfo@nextstepcfo.net

Ways to Find Distributors for Your Network Marketing Company

Finding distributors for your network marketing business can be a frightening scenario.  No one, well, I can't really say no one, but most people, no matter how strong their desire is to have their own business, can be nervous about approaching people.  Your business won't grow unless you talk to others about it.  But this can, as I said before, cause some anxiety in a person and they end up not approaching people and their business doesn't work out and they fail. 

I have found a free eBook that will help those people out.  It's called "The 3 Step System for Finding Distributors for Any Network Marketing Company". 

In it, it explains, well, shows you 3 steps to grow your marketing business without actually approaching people. I think you will find the ideas in it very do-able and easy to follow.