by Michael Harrison
Networking in the truest sense is what the very top businesses actually do. It's what all businesses did, across the boards, prior to about the mid 1800s, when advertising began. Before that, we were all professional networkers. That's all we did.
Since then, advertising has pretty much taken over as the medium through which to communicate business to masses of people.
But even today, when you look at the top echelons in any business, that kind of pre-1850 networking is still what occurs. If one company wants to buy another company, they don't put out an ad: it's all done through networking.
The top people sit down have an exploratory conversation: "You have a business; I have a business, what's the possibility of us taking our assets and combining them together...?" This is professional networking at its best.
The main goal of networking?
To network! The Ladders, a successful online service for high level network marketing executives suggests that each time you meet with someone, it’s vital that you ask if he or she can recommend a professional organization or the names of some other people you should be talking to. If you say you’re going to follow up, do so promptly. There’s no faster way to burn a bridge than to abuse someone else’s connections.
Try to find at least two to three opportunities per year to reconnect with members of your network. The process is more about "farming" than it is about "hunting." It's about cultivating relationships with other business professionals. It's about realizing the capital that comes from building social relationships.
Master networking traits
Think about the people you know. Who gets the most referrals? People who show the most motivation, right? Notice too that master networkers are never off duty. Networking is so natural to them that they can be found networking in the grocery store line, at the doctor's office and while picking the kids up from school, as well as at the chamber mixers and networking meetings.
Being an effective networker is a continuous methodical process. There are specific techniques you can learn and develop that will help you hone your ability to ask for the referrals you want. One such technique is to ask, "Who do you know who...?" You would then list several types of people you can help, such as someone who is new to the area, someone recently married or someone who has just started a business.
If you are to be in business then you need to act like a business owner. Develop a creative incentive to encourage people to send referrals your way. A music store owner, for instance, sends music tickets to people who refer business to him. Another example is the chiropractor who posts thank-yous on a bulletin board in his waiting area to all his patients who referred patients to him the previous month.
Develop a 'Contact Sphere'
NY Times best selling co-author Dr. Ivan Misner wrote his book The World's Best Known Marketing Secret: Building Your Business With Word-of-Mouth Marketing that a contact sphere is a group of business professionals who have a symbiotic relationship. They are in compatible, non-competitive professions, such as a lawyer, a CPA, a financial planner and a banker. If you put those four people in a room for an hour, they're going to do business together. Each one is working with clients that have similar needs but require different services. Hence, they're working that symbiotic relationship.
Dr. Misner writes, “My favourite example of a contact sphere is the caterer, the florist, the photographer and the travel agent. I call this the "wedding mafia." If one gets a referral to a wedding, then they all get a referral to the wedding. These professions, more than most, have truly learned how to work their contact sphere.”
Here are some other examples of contact spheres:
- Business services: printers, graphic artists, specialty advertising agents and marketing consultants.
- Real estate services: residential and commercial agents, escrow companies, title companies and mortgage brokers.
- Contractors: painters, carpenters, plumbers, landscapers, electricians and interior designers.
- Health care: chiropractors, physical therapists, acupuncturists and nutritionists.
Getting the most out of your contact sphere
- Identify as many professions as possible that fit within your company's contact sphere. Take a look at what professions your industry tends to work with to get an idea of repetitive and reciprocal referrals. Create a list of these professions.
- Identify specific individuals who could fit into your contact sphere. Go to various networking groups and consult your business card file and database.
- Evaluate the professionals in your contact sphere that you are presently referring. If they are not reciprocating, you may have the wrong profession or the wrong person. Fill the spot with someone who is willing to reciprocate.
Although developing a solid contact sphere will greatly increase your business, you must remember that it alone is not enough. Because contact spheres consist of small groups, you're not likely to gain exposure to a large number of individuals. Hence, work on developing your overall network of contacts at the same time you are developing your contact sphere.
Michael Harrison is a consultant, marketer, and business generation specialist dedicated to assisting professional services businesses to grow and increase revenue, margins and profits. He can be contacted at Strategies Plus
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