Monday, December 28, 2009
Out of sight, out of mind
The situation is: he has started receiving referrals which have converted into business lately, and is possibly thinking (this I heard from his colleagues) that he will continue to receive even he has discontinued his membership in the group.
Nothing wrong with this line of thinking actually.
In fact, there is a strong possibility that in view of the existing relationships that are prevalent in the group, he might still receive good referrals from his friends in that group.
But here's another angle to consider: what if a new person in that same category is admitted into that group. In essence his competitor.
You see, as this new person starts building relationships with the members of his group, he will invariably start receiving referrals from the members there.
So, the previous chap who left is now still receiving referrals but that source will dry up slowly now that the new person is slowly building his existence in the group.
As and when time passes, even the members who were referring to the previous chap, will want to try out the services of the new member. Remember the saying: 'out of sight out of mind'. It holds so true for networking.
Continuous visibility is crucial in the success of a business person in a networking group.
Saturday, December 19, 2009
Leverage on your team
So, rather than being the CEO, the boss or the leader of the company, he was prepared to roll up his sleeves and do up the technical aspects of his company's operations. He said to us that pending finding a successor to the previous chap who left, he will in the interim assume those roles. It could take as long as 6-months to a year.
Of course, it is very tempting to revert back to being the 'technician' in your business. Like taking a trip down the memory lane, nostalgia is involved. Not to mention that you can of course do the job better.
However, together with the group's chairperson, we advised him not to fall into this temptation.
We explained to him that depending on traditional methods of growing one's company is no longer a feasible business model.
We therefore advised him to break his boundaries and think bigger: like leveraging on other companies to merge with, and therefore adding to much needed staffing needs right away.
In essence, we asked him to bring himself to the next level by leveraging on his colleagues in his networking group (the seasoned and experienced ones) to act as his advisers in this endeavour.
Because his colleagues consists of many accomplished individuals, we asserted to him that he need to enrol them in his quest to the next level.
Because it is human nature to help one another, I am very confident that his colleagues would oblige to extend their expertise.
So now, here's another aspect of using your networking group: leverage on the expertise of accomplished people. It would hardly cost you much, except the costs of a couple of lattes however, the value is priceless!
Monday, December 14, 2009
Let your family in the know
Why? So that we become a resource center if they need any services in such a way that rather than they source for service providers from say, The Yellow Pages or from search engines, they would call us instead.
This will enable us to develop referrals for our colleagues in our networking groups and bring in business to the team. After all, every networking group is a mini-economy. You see, our family members are going to spend money on those services they require anyway, so why not spend their monies by acquiring from our inner network?
From my own experience, I have developed businesses well into the 6-digit worth from family members. About 2-years ago, my sister needed a programmer for a website she was developing, and that referral was worth close to RM90,000 for the service provider in the network.
In recent times, many referrals came in for the Life-insurance chap in the network from my brother who knows people who need such services.
So, let's spend sometime to bring our families up to speed with the capabilities of our networking groups.
Wednesday, December 9, 2009
Some are starting to get it!
As you know I have been starting to focus on my networking education goals for 2010 and have been communicating about this wherever I have the opportunity to do so.
So there I was in the meeting this morning where I noticed that a particular member, who is a Licensed will writer have been conducting 1-2-1s with his colleagues in his networking group. And he received 3 referrals this morning, all which were of sound quality.
Of the 3, one was for another member's own application whereas the other 2 were good quality external referrals for this member.
I am encouraged, that this has started to bear fruit, and by using this case as an example among many others, my mission will yield greater results.
2010 and 1-2-1s, here we come!
Friday, December 4, 2009
It took 5-minutes!
Specifically, they were some vouchers for an eye-screening service to prevent vision loss for those with glaucoma and are diabetic.
After acquiring them, I was excited and rang a few friends to give them the vouchers to use. I acquired 5 vouchers and have given away 4 already.
Then, it got me thinking, that a target market for these vouchers are Life-insurance agents who have at least 50 clients or more, who are now running a successful practice. Because they would have first hand information from their clients of certain pre-existing health conditions and because, they as their life-insurance agent have a degree of intimacy in their relationships with their clients.
Hence, they can present these vouchers to their clients as part of their incentives for say, anniversary of policy renewal or after receiving a successful referral from their clients. And these are tax deductable business expenses, so that helps.
So I rang up this service provider and explained to him the target markets he needs to focus on for some immediate appointments and possible immediate sales.
I myself rang a contact who is a very successful Life-insurance agent, and you know what, from my excitement of how I am happy to give these vouchers away, the enthusiasm rubbed off on her, and she said that she will be happy to meet this person to understand more (Yeah!! a qualified referral!!) and possibly purchase vouchers for her clients.
The call took 5-minutes.
Work? Yes absolutely, make no bones about it.
Results? Yes, always follows the work that preceded an effort.
So, go on people, pick up that phone and ring a contact to qualify a referral. It's very simple, actually!
Wednesday, December 2, 2009
Conducting 1-2-1 meetings with your referral sources
I met the team-leaders of referral generation groups yesterday and we discussed in depth about the quality and quantity of businesses referred in their groups.
All of them agree that the quality and quantity of referrals passed among the members are a direct proportion to the quality of interactions, relationships among the members and the way to measure this is the frequency of 1-2-1s between the peers of a particular group.
Because, after an effective 1-2-1 with a colleague in your group will yield to an action, many current issues will be overcome concurrently at all levels.
Before that, let's examine the outcome, or the action after an effective 1-2-1 with your colleague in your group:
1. A commitment of a short term referral based on what products or services are offered, example, if your colleague is an optometrist, then you can commit a short term referral where say, in 2-weeks you will refer, say your cousin to his shop.
2. A commitment of a long-term referral based on this person's profile of customers. For example, a dentist may require more patients coming in for teeth polishing and whitening which could be more profitable as compared to a regular teeth scaling, extractions, etc.
The above 2 action items makes the referral process more predictable. Now as both parties get to work to achieve their respective commitments will solve the issues of:
1. No referrals to give, which could discourage a member from attending meetings regularly. So, now the issue of not attending is resolved.
2. Better level of excitement and energy as both parties attend their weekly meetings with qualified referrals to give.
3. This excitement and energy will now spill over in the meeting and guests visiting on the day will be enthused equally, and see the possibility of they themselves being party to this receiving and giving of referrals.
So, a simple action of a weekly 1-2-1 with another member in your referral group can be the seed, which will yield to unrecognizable results as the tree starts to grow and bear fruit!
I am so excited to see this happening, and will be moving ahead in this direction and work within the teams to make this into a successful culture in each groups so that as new members are admitted in the groups, they won't know any different. It becomes then, a natural culture.
When say 40 members in your groups conduct 1-2-1s in the spirit of teamwork, and under the philosophy of Givers Gain, then imagine the business growth each person will experience!
Monday, November 30, 2009
Meet your colleagues 1-2-1 and set referral goals
If you think you can harvest greater results from your networking, then you need to engage your colleagues in your networking groups for a 1-2-1s with them.
Meet your colleagues at their places of work or offices, or shop-lots, showrooms, workshops, and gain a deeper understanding of their businesses and the type of customers they deal with on a day-to-day basis. Also enquire what categories of customers are the most profitable for them.
With this understanding, both you and your 1-2-1 partner needs to set goals as follows:
1. A short term referral, and this could even be yourself to engage in the service for your own needs, or a family member or a closed friend. Have a time line to achieve this, and say, do not exceed a month.
2. A long term referral, and this is a referral that you need to get to work to qualify for your colleague. This could be a former partner, former boss, or anyone you know needs the service of your colleague and that the business and revenue should be channelled to your colleagues' business. Time line to achieve this connection, is say, 2-months.
What is the recommended frequency for this levels of communication with your colleagues?
The recommended frequency for this level of communication with your colleagues is one member a week. Which means, on a weekly basis, your calendar must be filled with at least one 1-2-1 meeting appointment already penned in.
If your schedule is not filled in with this appointment, means you are not networking effectively enough.
Shall we get this done, people?
Tuesday, November 24, 2009
It takes work, people!
The group which meets for the purpose of generating referrals for each other has hit an all time low with almost no referrals to pass lately, and this has caused a high absentism rate as a result.
So, I explained to the members there that there is much work to do, however, within a period of 8-weeks after the work has begun, they will see results.
I gave an example that if a person is having knee aches, and is prescribed to take the famous Glucosamine Sulphate supplements, it will not cure the pain right away, however, within say, 4-weeks of taking the medications regularly, the pain will subside.
That was the key word: regularly.
Regularly engage in 1-2-1s with their colleagues in their group and with some commitment of both short term and long term goals, their ratio of referrals will start to increase.
But everyone must have the stamina to run. If anyone decides to quit at this juncture, then they are seriously letting the group down.
As this muddles along, I am applying the same formula in another group to enable the members there to regularly conduct 1-2-1s, so that in their case, the quality of referred business takes a leap.
Either way, the key word is: regular.
And yes folks, it takes work!
Friday, November 13, 2009
Hey you, make that call!
For example, every member in that group must endeavour to bring at least 2 qualified referrals for their colleagues each week.
Imagine, if this group had 30 members in it, then this will generate 60 referrals, and at random, every member can expect to receive 2 referrals each week (of course, some will receive more and some lesser).
Alongside with your current sales and follow-up activity, these 2 new referrals will be a welcomed addition to your sales funnel so that sales in the next 3-months will at least maintain, if not increase in volume.
Each time your business is in a lull moment, it is because we were not prospecting at least 3-months ago, as in average cases, it takes 3-months to convert a lead into a prospect and then evolve it into a sale.
The good news is that, networking helps to achieve this in a leveraged manner: you also have your colleagues in your group, who are your eyes and ears on the ground to bring in new leads into your business.
So, on the average, how many phone calls are you prepared to make to develop new leads for your colleagues?
If everyone makes at least 2 calls, then we're there!
So, let's make that call.
Sunday, November 8, 2009
'We've got to let it simmer'
This group had added 8 members in the past 3 months and they are feeling pregnant.
And one of the ways we grow a group membership is to organize a recruitment activity via a guest day where members invite their contacts to a meeting for an overview of the group's activity.
So, they solicited my view on the matter at the end of their discussion.
Now bear in mind that it's now November and we are approaching December, where it's the holiday season and many people, including the members in this group, not to mention myself, are on holiday mood, to wind down after a very eventful year.
So I said to them, 'Let's add another 4 good and established new members from our regular weekly meetings, and now, make the total new recruits to say, 12 (remember they had added 8 recently).
'Let's ride out the year-end period with some fun activities for members and their families, for example a dinner and gift-exchange nite out. That will keep members connected, and build bondings.
'Let's not boil this pot now. We should start boiling early next year, just a few weeks after the New Year, but for now, let this simmer.
In building networking groups, sometimes we push, sometimes we pull. It takes a bit of wisdom to figure that out, but for now, I like this: 'We've go to let it simmer'!
Tuesday, November 3, 2009
Plant the right Questions
In that meeting, the speaker of the week was swamped with many questions from members, which was good, however, the only drawback was that all of the questions were of personal in nature with regards to the person asking them.
They were questions like: 'how much does it cost to....?', 'where can I get information about....?'.
It was like a personal coaching done publicly when the presenter was providing answers to the questions.
So here is my take on the matter: I asked the members in the group to think about the distinction between questions of personal in nature as opposed to questions about business development.
In a networking environment, you want to ask questions that will help you leverage the moment by focusing on business development.
So, what are business development questions?
Among them:
- Can you please share with us what is your goal on new prospects with this product line?'
- What kind of line of questioning can I use with my contacts to position your latest product in my conversations?
- How would I know if someone I am speaking to is the right contact for you as far as this product/service is concerned?
- What is the most profitable product in your offering that will make it worthwhile your time meeting a new prospect?
A wise person once said, that the quality of your life depends on the quality of your questions.
Therefore, in a networking environment, if you are the key-note speaker or the speaker of the week, then it is essential that you achieve leverage in your time presenting, and among an element to consider is the questions from the audience.
It is wise to plan two or three questions well ahead of time, where you have also prepared the response meticulously to achieve this level of leverage.
Hope this helps.
Wednesday, October 28, 2009
Networking is going to work, also
Typical responses came from him: 'I cannot wake up early in the morning'.
So, I asked him a few questions:
'What time do you need to report for work daily'?
To which he replied, '9am'.
Then I pursued to ask: 'So, what time do you actually get work, like about 15-minutes ahead'?
He agreed. To which I still continued to ask: 'So what time do you need to leave your home to get to your office to arrive to your desk by say, 8.45am'?
He replied, albeit gingerly, 'Just before 8am'.
Then I confirmed with him: 'So I suppose you will get out of bed by say, 7.15am to get ready'?
You will get the drift of the conversation by now.
Then I explained to him that attending a networking meeting is like going to work. So, I said to him, 'Once a week, your work starts at 6.45am, so this means you leave your home by 6.15am, and if it takes you 45-minutes to get ready, then I suppose you need to be up by 5.30am'.
'Why not you just tell yourself, I am going to work. Then your body and mind will not argue with you, and you will never be late or absent again'.
He giggled, to which I then hammered in the point that we have at least 3 other members in his networking group who are well beyond 55 years in age, and here is a 25-year old bloke who cannot make it? I said to him, 'Hey, be a man, and don't let us down, mate'!
Well, let's see if he turns up later today.
I will keep you posted on Twitter.
Monday, October 26, 2009
Who would you like to meet this week?
So, why not leverage on them?
Who would you like to meet this week to further grow your business?
What do you plan to propose to them?
And then, when you are with your networking group, have a conversation with them on this goal of yours.
Use on-line tools as well, such as Facebook, Twitter or your favourite on-line networking site to broadcast this. Of course, your favorite networking site is the one where almost all of your contacts are!
It's of no use if you use on-line site X when all your contacts prefer to use on-line site Y.
Good luck and let's have a great week ahead!
Sunday, October 18, 2009
Exchanging business cards at networking events
First and foremost, in networking, it is always about the other person. And to be clear, let's cut out a tangible ratio: 99% about the other person and 1% about ourselves. This is from a book on networking I read years ago written by Bob Burg, Endless Referrals.
I have seen too many people who are members in a networking group too eager to pass out their own business cards.
Here's what I would say:
Taking into account that it's always about the other person, it is better that we focus on the other person, who is likely a guest at a networking event.
Greet the person, and get to know him.
When it comes to the bit of exchanging cards, always say invitingly, 'Could I have your business/name card please?'
And when they present it to you, thank them while now engaging in questions about their business, and totally focusing the conversation about them and their business. The ratio has been disclosed. Ask questions, gently, about their business and customers.
When is appropriate to pass our own cards?
You will always have a chance, don't worry.
One of the ways is to ask: 'Thank you for your name card! Could I give you one of mine?'
Ask for consent. Rather than just assuming that this person wants your card and you just shoving it to him.
Then when he gives you consent to receive your card, it is a leveraged moment, because he has asked for it and will now treasure receiving it.
And if this guest is a seasoned networker himself, he would now apply the 99/1% ratio himself and get to know you better.
In any case, it is person who is asking the questions who is the real networker. Ask questions, and listen to their answers and think of how you can possibly link them up as a contact.
Hope this helps.
Tuesday, October 13, 2009
How to host a guest at a networking event
First of all, the guest must be treated well and with welcoming smiles from all the members who are the hosts.
Now to bring this to the next level, once the guest has signed in, registered, paid all meeting dues for drinks and meals, etc., it is now essential to engage this guest effectively.
You mean this is a calculated affair?
Answer is a Yes! It is played with precision.
A Guest Host (also known as a Visitor Host) must first and foremost, introduce himself to the guest, and take the opportunity to exchange business cards. Even have a small conversation about the guest's business.
Now, the Host must take a moment to brief the guest on the meeting proceedings and how the guest can maximize results from the event. Explain when it is appropriate to pass cards, and inform that he will be invited to introduce himself to the rest of members during the formal part of the meeting.
Further, explain briefly that when members pass referrals, this is when they should observe and envision what type of referrals they can expect to receive if they were a member of the group.
Even go as far as saying: 'If you like what you see today, and would like to participate, we will show you how you can lock out your competitors from this group!'
If appropriate, even add elements such as: 'We are looking for an optometrist to pass our referrals to in this group. Let's see if this person can be you.'
Now the guest is prepared for the meeting proceedings.
This is when the Host must now deliberately bring this guest to the group Chairperson, or the President for a formal introduction.
The conversation with the Chairperson may take a few minutes. Yes, time well invested. All others in the group must avoid, interrupting this meeting, unless invited by the President.
Once complete, the Host must next bring this guest to another officer in the Chapter, preferably the officer in charge of Membership Affairs.
This conversation will also last a few minutes.
Then, introduce this guest to a potential contact sphere member: whose business is not competing with the guest, however, sharing the same customer base.
Example, this morning, we received a guest who is in the skin-care products business. Therefore, this guest must at this point be introduced to say, the Life-insurance rep in the group, as they share the same customer base.
You will get the idea by now.
You see, a guest, pretty much like this skin-care products supplier, have never thought of tying up her services with anyone else, in a synergy fashion like how it is described here.
Finally, if time permits prior to the next part of the meeting, introduce this guest to a member in the group who is a performer, such as the person who consistently brings in plenty of referrals or invites guests to the meeting, so that they can have a conversation.
Therefore, the guest now is totally engaged in the meeting, and would be very attentive throughout, and even be anticipating to join the group to receive referrals.
More importantly, these are perception points of a group with a guest. After the meeting has adjourned and the guest have left, these five perception points can give their views on the guest, and the potential resources and energy they can represent into the group once admitted into the group. Not to mention, having close rapport with the guest, so that eventually, they can collectively mentor this new member into the group.
Hope this helps and I welcome you to share your experiences by providing your feedback via the comments facility below.
Monday, October 12, 2009
Be careful of subtle messages and signals
Every networking businessperson needs to be careful in the subtle messages and signals given out when interacting with our colleagues in networking environment.
Some considerations:
1. When giving a presentation, avoid saying 'I have just stayed up the night in preparing this presentation'.
Sure, you will get giggles from your colleagues but the real message is: I am a last minute person. I do everything last minute.
Do you think you can receive referrals from your colleagues after having communicating this? If it were me, I wouldn't trust you with any referrals as I fear that you will be ill-prepared to meet my contacts.
2. In preparation of your speaker profile (when you are invited as a key-note speaker), please prepare it powerfully.
Recently I attended a networking meeting where the key-note speaker was not aware of the subtle messages communicated.
She wrote in the profile, under the line of hobbies: Nothing. Just watching TV.
Worst still, under the line of describing your burning desire, she merely wrote: eating and sleeping.
It scared the heck out of me!
Is your glass half full or half empty?
Write powerfully, say for example, if you indeed like to do nothing, write it powerfully like: 'In her spare time, Alice loves to relax quietly at home, or catching up with her favourite TV programs to take her mind off from the hectic day.
Or write: Alice loves to try out new foods in new restaurants and would one day, become a successful food critic.
You see, we need to be careful of the subtle messages sent out.
Are you now going to take a moment to revisit your profile and ensure that it's filled out powerfully?
Remember, it is the smallest things that makes the biggest difference.
Monday, October 5, 2009
The Golden Goose and the Golden Egg
I was sitting in a Team meeting last Thursday where a member there described in reasonable frustration at how he felt he was treated by his partner in a referral generation team that he belonged to. He had engaged his partner to conduct some odd-jobs in his own home. And was then relating the experience.
According to him, there was no extra value given by the partner in the context of the relationship they had in a networking group.
I will describe this as follows:
Customers are very important. They are the ones who pay us for services/goods that we supply. In other words, no customers is as good as no money coming in.
Therefore in the networking context, I label a customer as a Golden Egg.
In that regard, going a notch up, a person who brings in a customer via referrals and word-of-mouth is even more important! He is your Golden Goose!
So, how would you treat your Golden Goose, who brings in the eggs for you each morning?
If this Golden Goose itself was buying your services, how would you treat the transaction?
I am not talking about giving discounts or throwing in freebies such as dinners and gifts (though that would be nice) but what I mean is that, what extra value will you offer?
For example, will a call from a Golden Goose be more important? Will you give the matter a higher priority? Will you go the extra mile to ensure that while you were serving the Golden Goose, you resolved as many problems she is having from your own initiatives?
Simple things like: if a Golden Goose was buying a new software from you, then when your team is installing the software, would you offer a complimentary system maintenance and tune-up?
Would you ensure that all peripherals are in optimum working order?
If say you are an electrician company servicing air-conditioning, would you, offer freebies such as changing all other fused light bulbs, or offering to conduct minor repairs?
It is along these lines, that we encourage our Golden Goose to lay more Golden Eggs for us.
So, is it time to access your service levels to your customers (golden eggs) and customer sources (golden goose)?
Thursday, October 1, 2009
Can you become a networking expert, too?
A networking expert is made, not born. Therefore you can become one yourself.
The key is to keep on connecting people, which is what networking is all about. And keep at it for years when people start to know you as 'the' person to ring up whenever they need anything.
Which reminds me of an interesting development these few days: I received a phone call on Friday, September 18 from a person whom I must have rang 6-years ago. He rang me and introduced himself and tried to refresh my memory as to where we last met and under what circumstances.
I started to jog my mind and it started to come back to me.
Then he explained that he has just started a business supplying flowers and wanted more business, and asked if I could help him out with some connections, saying that 'oh, Riyaz, you are always the person to call if we need anything.'
I of course, invited him to a BNI Chapter meeting on Tuesday, September 29, and he came along with his brother who is his partner in his business, and his investor, who is an established gentlemen.
At the end, it was his investor, who was keen to register himself in the BNI Chapter as a member to market his products in landscape architectural services, supplying materials to construct games court such a badminton, squash, tennis courts.
I did explain that results will be felt not immediately however within a space of time. Though this is long space of time (6-years!) but am I complaining?
So, there you have it. Become a connector of people, and in the spirit of Givers Gain, it will all add up and come back to you many folds over.
Thursday, September 24, 2009
Daily Deliberate Habits for a Networking Businessperson
Just by taking on a gym membership is not going to yield a healthier you. It is essential that we work the program and do our part to achieve the desired goals.
Networking is no different: a mere membership is different from participating in the membership.
I was earlier having a conversation with a key person in my team and we discussed some deliberate habits of a good networker as follows:
1. How many contacts have you invited to visit your networking group as a guest, for networking, business and even possible memberships?
Simple arithmetic will reveal that if we ring 2 contacts a week, which is about 8 - 10 a month, we will bound to have a hit rate of say 15 percent, where you can easily contribute 1 - 2 guests a month to your networking group.
2. How many members have you rang in a given week to have a conversation about their business, new products offered, what type of referrals they are looking for?
How long does it take to do this? A couple of minutes while stuck in traffic?
3. Armed with the information from your phone conversations with your colleagues, how many phone calls will you make to enable connections be made from your contacts to your colleagues in your networking group for possible referrals?
Another couple of minutes while scrolling your mobile phone address book?
4. Finally, how many lunches/afternoon teas can you have with your personal contacts while inviting a member from your networking group as a possible new contact? A networking businessperson will always make sensible business connections.
This is working the system within a networking group. Like working the machines and weights in a gym.
Results: not right away but consistently being at it will yield desired results.
Monday, September 14, 2009
Become a contact point for your contacts!
This means that you would have worked all along to constantly inform all your contacts that you are the person to ring if they need any services, products, solutions to run their business and their personal lives.
If someone needs a new business printer, they should call you. If someone needs an interior designer, they will ring you. And this must be for almost everything.
An indicator is this: say you visited a friend in his office and have seen that he has just purchased some new furniture or even hired a new sales executive. If you did not have anything to do with his selection of things to purchase and people to hire, then there's plenty of work to do!
I picked up this tip from a BNI Podcast and thought that it is an excellent tool to implement the idea to enable all your contacts to contact you for contacts needed for their business and friends.
In essence, Dr. Misner developed this technique for getting referrals in the earliest days of BNI. He realized that he needed to be the 'go-to' guy whenever anyone needed a referral—to anyone.
He started sending the following letter to his clients three or four times a year:
Own Letter head
Date:
“Dear _____,
I really believe in the process of referrals, so part of the service I provide is to be sure to refer my clients and associates to other qualified businesspeople in the community.
Attached is a list of areas in which I know very credible, ethical and outstanding professionals. If you’re looking for a professional in a specific area I have listed, please feel free to contact me. I will be glad to put you in touch with the people I know who provide these services.
Sincerely,
Dr. Ivan Misner
He did not include direct contact information for the professionals, because he wanted to make sure people came to him first. This was so that the lead can be qualified into a proper referral first before referring to solution provider concerned. It worked like a charm, and people really appreciate the service.
This is among the service you can provide to your contacts. I really hope you will implement this. I am updating my list now and will send a letter to each contact.
Saturday, September 5, 2009
Gotta understand this fine line...
It's about how a professional will prospect someone he's met at a networking event.
Currently, I have a situation where we have a person who is actively networking and meeting new people in networking functions.
But word has it that this person is also busy making calls to solicit business from the people he has met. Upfront, there's nothing wrong with it unless we dig deeper. Here are some distinctions to consider:
Because some of the people were rather taken by surprise with the call to solicit, so soon after a networking meeting where there wasn't enough time to create an element called Visibility-Credibility-Profitability (V-C-P).
This person went for the jugular right away, for the profitability without giving due consideration to his visibility and building of credibility in the eyes of the people he is prospecting, although these prospects were met at a networking event.
The V-C-P Process is a deep subject on its own.
However, I can offer an upfront suggestion as to how anyone can leverage on their colleagues in a networking team, to benefit from contacts brought to a networking event:
Rather than calling the guests yourself for a prospecting conversation, have the prospect referred to you by the person who has invited them.
It's as easy as making a call along this line: 'Hi Julie, I would like to request a favour: remember the friend you invited to the event yesterday, the piano teacher? I believe he is a suitable prospect for me. Would you please be kind enough to ring him and inform him that I will be calling him for an appointment?'
By adding this element into the prospecting process, you will benefit as follows:
- Your colleague in your networking team will be aware of your intentions and hence can position things better.
- Your colleague can qualify the prospect for you, and in the event this prospect is not keen for the contact then can appropriately inform you. Perhaps, this prospect has already got some suppliers or service provider and are not keen to switch suppliers?
- You will be better empowered when you do eventually ring the prospect (after having qualified by your colleague) and instead of explaining why you are prospecting, which is no different than a cold-call, have the prospect anticipate your call.
If you are a networker, you gotta understand this fine line. Although you have met people at networking events, it is essential that you enroll the help of the person who invited the guest when prospecting. Apart from extending courtesy, you'll be avoiding jeopardizing the whole organization by acting responsibly and with professionalism rather than giving the impression that the organization is filled with people inside it who are 'hunters' for business.
Hope this helps to provide a clearer distinction.
Wednesday, September 2, 2009
Invitation conversations - avoid the fear of being sold
Remember your first date? Most people are way ahead of themselves. In a way, people are thinking to far ahead.
'Will I be asked to buy something I don't want? Will be coerced into joining an organization against my will? Will be tricked into buying more insurance/water-filters, spa package, etc?'
These are common fears people have. You have them too! So do I. And at many a time, I had declined attending certain events.
Other than the fear of public speaking, most people have the fear of being sold. Agree?
Therefore it is essential that we eliminate the fear of being sold.
Solution?
Apply a combination of words that will eliminate the feeling of being sold.
Instead, make people want to buy/attend/come willingly.
If inviting to a networking meeting, after your invitation details, always add a classy yet casual and honest conversation after your invitation regardless of whether the response was a Yes or a No, as follows:
'Firstly, you will be meeting many local business people who could be interested in your product/business or they could refer you to someone who may be interested.
Secondly, if you like what you see/experience, then you can enquire from the members there how you can be a part of their group.'
See, now we are positioning the invitation to their benefit and even clearly explaining that if they like what they see, then they can enquire further (to participate/enroll/register, etc).
This is how we eliminate the fear of being sold.
Hope this is helpful.
You can apply to use this in any situations/businesses that involve meeting people you do not know yet.
Invitation: Eliminate the fear of being 'sold'
This group apparently needed to increase its head-count which meant that all the current members needed to invite more.
However, they reported that many who were invited didn't show.
Therefore I shared this info with them:
One of the reasons people fail to respond positively to an invitation (even if they had earlier agreed) is the fear of being sold.
Just ask yourself, when a friend had invited you to a meeting, or a discussion, or an event, don't you have the same feeling?
The feeling that you will be sold something?
It's the feeling and the fear that needs to be addressed.
I have an idea on resolving this, which I will share on my next post.
I learnt this tip from a networking expert while attending the BNI European Director's Conference in Dublin in April 2008.
Yes, eliminate the fear and you'll have more people responding positively to your invitations in various areas of businesses.
Sunday, August 23, 2009
If your friend is arrested for DUI, will he ring his wife or ring you?
I came to know although I was at home, presumably watching footy on the telly, as it was a Saturday night, and I am a fan of the English Premier League.
I received a call, it was about 12.15am, and this chap, who had sobered somewhat, (guess everyone sobers after being arrested) rang from his mobile to say that he was in a police station in the city and the prospect of spending the night in the lock-up was too harrowing.
He didn't ring his wife. Why? Suppose his beloved wife will just give him an earful, so he rang me, 'the' networking expert to get him out. 'Get your lawyer friend here quick, man!' he pleaded.
So, when your friend gets done, who does he ring? His spouse or you?
It is an indication of your ability to connect people from your network, for various products and services.
Keep at it, volunteer information about your colleagues from your network and eventually you'll be the person your friends ring up when they get arrested!
Monday, August 17, 2009
Two-sides to a coin. Invite and be prepared at all times!
A networking group received a guest to their weekly meeting.
I noticed that this guest was taking notes throughout the meeting, especially when the members in that group were giving the Sales-Manager Presentation.
Then there was another member, who explained to the group that she needed an alternative contact in the American Embassy for her business proposal providing certification to companies and organizations as she was stuck with her current line of contact in that organization.
Would you believe it, this guest got up and said that he had a good contact in the American Embassy with whom this member can hook up with for her business.
There are 2 sides of the coins here which we need to understand thoroughly:
First: A visitor is so important to a networking meeting, as they can be a great referral to the members. Better still if their classification is opened and they participate, they can be a Referral Source to the members for long term.
Second: when giving presentations, it is essential to prepare on the eve of the meeting, and be as specific as possible, as you’ll never know who’s going to be in the room who could provide or refer you to whomever you want!
So, have you picked up the phone to invite that visitor? Have you prepared your presentations for your meetings?
Inviting is easy, and when your visitors come to the meeting, it makes the meeting so much fun!
It’s so important, just by allocating 10 minutes on the eve of the meeting, you can, like the Boy Scouts, be ‘Always Prepared’.
If you were not prepared in your presentation and just winged it, you would miss out on contacts a guest can connect you to to grow your own business. Hey look, if that doesn't turn you on, nothing else will!
Just like the coins have two sides to it, invite and be prepared at all times.
Sunday, August 16, 2009
Walk slowly through the crowd...
In a networking meeting I attended last Friday, I was conscious to speak to as many people as possible.
This would require me to pace-down a notch my current habit of doing things too fast. I also have to use smart discretion where necessary.
Example was, a guest was stuck in traffic and hence arrived a few minutes later than scheduled. We could have started and then let her in anyway when she eventually arrived, but then I decided to give it a few minutes. Even as she arrived via the elevator to the 22nd floor of the building where the event was held, her first order of business was to visit the ladies. Understandably so. So there was another few minutes taken there.
On top of it, the person who invited this guest was also becoming nervous by the minutes, constantly on the phone with the guest, presumably trying to hurry her up.
Still I said to the Chair Person, let's give her (the guest) time and space to come in, sign-in, and catch her breathe.
Aren't we glad we did. You see the smallest things makes the biggest difference.
This guest came in calm, and more importantly the person who invited her, was now happy, smiling and so energized. That was the key to the next sequence of events.
While the Visitor Hosts were hosting this guest well throughout the meeting, I had an opportunity to spend a few moments with the person who invited her, Moon is her name. And a lovely person she is when you get to meet and know her.
We had a conversation about how successfully she invites guests to visit the group and learnt some of her goals.
As a result, we determined that she should share her experience with the rest her colleagues, on her visitor goals and technique of invitation and follow-through.
Yes, you guessed it right: she was further energized by this empowerment and on Saturday (the day after the meeting) even sent me a text message saying that the guest that she invited on Friday, would visit us again and this time with her father, who could possibly be a contact I am looking for to grow my business in the coming future.
So, I learnt or shall I say, I re-learnt a distinction: that always walk slowly through the crowd and pace-down at times. Then most defining moments in our lives will happen during the slowest moments where time stands still. A fine networking skill horned.
Have you had that moment? Well, I know I will from now on: I will walk slowly through the crowd, and even stop at times to smell the roses.
Wednesday, August 12, 2009
Spread the word, powerfully.
They are two different subject matters altogether.
This morning I was at a networking meeting where a certain member was rostered for a presentation about his business. And bear in mind that this was a networking group to generate referrals.
I was not surprised that he spent time to educate those present on his company's products and services. However, he did so in the mode to sell his products and services as if the people in the room (his colleagues in a group to refer business) were potential clients. But they were not his potential clients. They were his colleagues to refer business to him, not buy from him.
So this person who was presenting fell into a hole.
Let me explain:
In a referral generation group, we do not sell our products or services.
What we do is that we educate our colleagues on our products and services.
But the key in a networking group is this:
Not only do we educate, but it is an opportunity to set ourselves apart from our competitors by highlighting certain specific case studies of past clients and what was done to assist them or solve a particular problem.
You see, there are thousands of insurance agents, and all representing established good companies. Ditto with computer sales vendors, caterers, investment agents, travel agents, contractors, real-estate agents, etc.
In a networking environment, we get a chance to describe our differentiation to a crowd who is ready to listen and more importantly spread the word.
When this chap went on and on about his products and services, this is where I asked him: 'what is it that represents your essence in your business. What have you done for a client that you are proud of?'
The answer to that question was what the people in the room needed to hear: so that they spread the word and hence can confidently refer him to their contacts.
So, know your crowd. Prepare. Think. Think a couple of steps ahead.
In a networking environment, spreading the seeds of your differentiation is more important than selling. Because once your colleagues can spread the word about what makes you special, then the sale will come, surely.
Monday, August 10, 2009
Networking Conversations - Continued...
The following are questions to be engaged when meeting a person who is a colleague of yours in a strong contact network, such as BNI or your preferred networking groups for referrals. These questions can be engaged before or after a networking meeting.
- Can I have more information about who you are looking for?
- Who was your last client yesterday? Why did they come to you?
- How will I know if someone needs your services? (something they say, do, look like?)
- When can we meet for a one-to-one meeting?
- How would I know if someone I am speaking to is an ideal customer for you?
Once again, these are all open-ended questions, which will compel the other person to give an answer beyond a 'yes' or 'no'.
Having a mastery in open ended questions is the first key to succeed in business networking. There are many books on this subject. I will list down some good titles in the next article.
In the meantime, be a natural in these lines for your networking success.
The point is this: the answers from the other person will prompt you to think of a referral for her business. And that's the essence of business networking: to powerfully connect the other person.
Monday, August 3, 2009
Chase the deal!
It is a line in the BNI Member Code-of-Ethics which all members have taken an oath when admitted in your respective Chapters.
This reminded me, of a program I was instructing a few months ago.
When I was explaining the importance of following up on referrals received, there was a member who raised his hand to stand to share his experience. He said that he referred his friends to his Chapter member for some services. He asserted that his friends were in fact, ready to make purchases, which meant that his referrals were qualified and were highly convertible into a sale.
To his dismay, the members (3 members!!) did not follow-up on his referrals, and he was so disappointed. In fact, he admitted that he will never refer them again, as he was so embarrassed!
So, here’s a lesson for all:
Firstly, if you are receiving a referral, no matter how big or small, please follow up and establish contact with the person referred. Make commitments to take the next step and keep the commitment. Nothing is worse that a commitment not honoured, as it displays a severely compromised integrity.
Secondly: when you are giving a referral, do also from time to time make the effort to follow-through with your member, if they need further assistance.
Hope this helps?
So, let's chase the deal
Sunday, August 2, 2009
Mr. Korea, you've got it!
I shared with all present, the importance to prepare the following:
- A list of all their business basic operation elements, known as Lowest Common Denominators (L.C.Ds) alongside with support materials such as brochures, pictures, samples, testimonial letters, certificates, etc.
- A list of last 10 customers, and a summary of what they bought from you, and why did they choose you as their supplier?
- A list of target clients in the intermediate future.
Then I showed to all, how all these information can be used to construct a referral generation presentation, where in 60-seconds, you can present with mastery and with conviction, to compel your colleagues to refer their best contacts to you.
A certain Korean chap, who has been following my program for more than 5-years now have started mastering the fundamentals I have been teaching.
So, after all the preparation, he asked in his presentation, if anyone can refer him to a certain transportation company where he can possibly supply fuel-additives (http://www.gp.com.my/ )so that the company's fleet of buses can optimize diesel usage while minimising black smoke from the exhaust.
And guess what, in the room, was seated another person who is the sibling to the director in that company.
Hey, you never know these kinda things but then it pays to ask and be specific as well. And our Korean chap knows better. He's been willing to learn, willing to ask.
Mr. Korea, you've got it. Spending a Saturday morning with 'the' networking expert in Malaysia has its benefit!
Wednesday, July 29, 2009
Lesson 2 - Mastery in Networking Conversations
A wiser man once said, that if you don't have anything good to say, then it is better to shut it than say something that might cause offense or hurt to another person.
Well, the networking expert says that, if you are in business, then you better get good at mastering networking conversations.
Today, we will examine some simple networking questions which you can engage when speaking to someone you have just met, either in a networking environment, or even if you were introduced by a common friend.
These are all open ended questions, which means that these questions require the other person to provide responses that are beyond a 'yes', 'no', 'maybe.' He will need to answer them in some detail.
Then you can learn more about the person.
Here are some basic ones:
- How did you get started in the ........ business?
- What do you enjoy most about your profession/line of work/business?
- What separates you from your competitors? What is the most basic element in your business that separates you from your competitor?
- What are the new trends in your industry in the next 2 years?
- What has been an effective method in promoting your business?
- What one thing would you do with your business if you knew that you could not fail?
Well there you have it.
Gain complete mastery in networking question. Use it like a pro.
A word of advise: a good networker has two ears and one mouth, so it is essential to listen with eye contact when the other person is speaking.
Tuesday, July 28, 2009
Lesson 1: It's all about the other person
There are many objectives in networking, and here I have listed some fundamental objectives:
- To get to know the other person for the purpose of connecting the person to achievement of his goals.
- To increase your contact base for the purpose of connecting other people within your current network.
There are many objectives to networking, in fact the list can be limitless. Books in the subject of networking will also help you to list various objectives.
All of the objectives are correct. You can also add your own objectives as well, and they are all correct as well.
Where I am coming from is that from the very beginning, let's have our mind clear that: whatever the objectives are, for a start, it's always about the other person.
Let's start with the exchange of business cards.
In every networking meeting I attend, lots of business cards are exchanged. Well and good.
I only take an exception when the business cards are exchanged for the sake of exchanging them.
Always, I explain to all my colleagues that when exchanging business cards, spend a few moments to ask about the other person's business. Engage in some conversation, such as: When did you start your business? Are you the sole-owner? What are your solutions offered? Who is a target client for you? How would I know if someone I am speaking to later today could be a prospect for you?
Engage in conversations. Listen, listen and listen. Engage and ask powerful questions. The ability to have networking conversations is essential. And that will be one of the emphasis I will be focusing on.
Then exchange cards. I also recommend that when giving out your own card, it is polite to ask: 'May I give you my card?' The answer will always be yes! And this is important.
Because the other person wanted your card and consented to you giving one to her, then likely, she will appreciate the connection made.
If there's an opportunity to conduct some business together, then ask for consent to follow-up.
So, let's sum up the first base: It's always about the other person.