Another Great Business Networking Question

July 8th, 2010 by Wayne Davies No comments »

In my previous article I talked about 3 simple networking questions designed to get the conversation going. Those questions were…

  1. What kind of work do you do?
  2. How did you get started in _____?
  3. How does the recession impact on your business?

Another great question you can ask is “What do you like best about what you do?”

This invites the other person to talk about their business. And it can help get past an awkward pause. For example, imagine this conversation…

Hi, I’m Wayne

Hello Wayne, I’m Sandy

What do you do Sandy?

I’m a wedding planner

Oh, ummm…how interesting…

If I’m not personally interested in weddings, the conversation may not flow as freely as I’d like.

This is where the question “What do you like best about what you do?” comes into its own.

It gives the other person an opportunity to tell me what interests him/her about their business. And it gives me the chance to look for networking opportunities.

For example, the other person may tell you about the silly things their clients do and how they love to fix things. This might remind me of a friend in exactly that situation.

It gives me the chance to set up a referral, and that in turn gives me an excuse to call back.

How to Give More Referrals

June 29th, 2010 by Wayne Davies 3 comments »

Would you like to give more referrals to other people in your network?

One way to generate more referrals is to attend business networking events and keep your ears open for opportunities. For example, you might ask questions like these…

  1. What kind of work do you do?
  2. How did you get started in _____?
  3. How does the recession impact on your business?

If you get a glib or one-word answer to that last question, simply follow with “Oh, how come?”

These questions invite the other person to talk. And give you the chance to listen for opportunities.

There is no specific goal here, other than to get the conversation started.

By listening to the other person, more questions will suggest themselves. And you may uncover an opportunity for someone you know.

Be the “Go To” Guy

June 21st, 2010 by Wayne Davies No comments »

This networking technique was pioneered by Dr Ivan Misner before he started BNI.

He wrote to every one of his clients – today I guess we’d email them – and told them he knew highly skilled and reliable professionals in a number of different fields.

He then listed the different fields.

He told his clients to contact him if they ever needed anybody in one of these fields.

As you might expect, his clients began to view him as the go to guy when they needed to find a good quality professional or tradesman.

It worked the other way too. The people on the receiving end of his referrals were delighted, and sought to return the favour.

There’s no reason at all why we can’t do this within our chapter, and each become the “go to” person for our own network of friends, colleagues, clients and suppliers.

How to infuriate a customer – learn from the experts

June 21st, 2010 by Wayne Davies No comments »

Take a look at this woeful case of corporate incompetence, and learn what not to do. Very instructive look at how to set up a direct business banking unit guaranteed to leave customers reeling.

Follow Up – Fast

June 5th, 2010 by Wayne Davies No comments »

Dr Ivan Misner, the founder of BNI, ranks “timely follow up of referrals” as the #1 trait found among successful business networkers.

Put another way – follow up fast. The longer you leave it, the colder the opportunity gets. And like a yummy steak pie, opportunities are much better when they’re hot!

I’d also add that it’s important to report back to the person who gave you the referral. It’s polite, of course. But also gives you the opportunity to shape future referrals from that person.

If the person referred to you wasn’t exactly what you’re looking for, let the referrer know. And explain what you are looking for, and give pointers about how to uncover the right kind of referral.

The Joy of Giving

June 1st, 2010 by Wayne Davies No comments »

All relationships require give and take if they’re to thrive.

In networking – and especially within well structured networking groups – you get to meet a lot of new people. That gives you a lot of opportunities to form new business relationships.

With a new relationship, somebody has to be the first person to give something. And as you can’t control the other party, that person has to be you.

If you’ve just met somebody it may not be appropriate to give a referral, so you might start thinking about giving something else.

It might be notice of an upcoming event you know the person will find useful. It might be free advice or information. It might even be a free taste of your product or service.

Whatever it is, there must be some value attached to it. I’m not talking about unreasonable value. Just enough so the other person recognises it as a selfless act on your part.

Most of the world’s population feel compelled to reciprocate when given something they find valuable. And this helps to get the relationship started.

What about those who simply take and take and take? Forget about them. They’re few in number.

There’s no point keeping score. If you find you’re doing all the giving, and you’re not happy about it, move on.

Get more business from networking

May 14th, 2010 by Wayne Davies 2 comments »

A quick and easy way to get more business from networking is to set a goal. Your business networking goal should describe a specific outcome to be achieved by a specific date. For example…

  • I will meet one new potential client per week
  • I will attend 3 extra networking events per month
  • I will earn an extra £2,000 from networking this month

The above list contains examples. You should create a single specific networking goal of your own.

As soon as you’ve settled on a special goal, work out what you have to do to achieve it in the time you set. Then add that activity to your diary. For example…

  • I will meet one new potential client per week
  • To achieve this I will sub one additional BNI Chapter per week
  • When visiting the Chapter I will arrange a one-to-one with at least one person in these industries…
    • Marketing consultant
    • Web designer
    • Social Media Marketing consultant
    • SEO expert
    • IT Support person
  • To achieve this I will also ask for highly specific referrals in my own BNI Chapter, such as people in specific companies I’d like to do business with

The above is an example only. You should pick occupations likely to generate relevant business or referrals for you. This highly targeted approach works because it’s clear what a person has to do to achieve his/her goal.

At the end of the time period you set, check your results and see whether or not you achieved your goal. If you did achieve it, either set a new goal or keep doing that activity.

If you didn’t achieve your goal you can change the…

  • Goal itself
  • The amount or nature of the activity
  • Both of the above

This approach works best for your business when you select an income-based goal. You may wish to start with an easier goal, such as a certain number of new introductions. But I recommend you plan to move to an income-based goal. Here’s why…

An income-based goal forces you to think more deeply about the activity you’re doing, and how to maximise the use of your time. This has the power to greatly increase the amount of money you make from business networking.

Myth: The 6 Degrees of Separation

April 5th, 2010 by Wayne Davies 4 comments »

There’s a common misconception that each of us is no more than 6 people away from every single person on the planet. That someone you know…

  • Knows someone who…
  • Knows someone who…
  • Knows someone who…
  • Knows someone who…
  • Knows someone who…

…knows the President of the United States.

The “6 Degrees of Separation” myth is based on an experiment conducted in the 50s and 60s.

The resulting number 6 was true for just under 1/3rd of the participants. It wasn’t true for more than 2/3rds of the participants. What’s more, the experiment was limited in scope to the United States – around 5% of the world’s population.

What the experiment showed wasn’t that we’re all connected. It showed that some people are well connected.

If you want to be in the 1/3rd that are well connected, it’s going to take knowledge, training, practise and action.

In my view, it starts with working out who you’d most like to meet. As soon as you know where you want to get to, you can start working on how. One of the best ways is to join a networking organisation such as BNI, BRX, NRG or similar.

Better Results from Business Networking

March 30th, 2010 by Wayne Davies No comments »

The key to getting better results from business networking is simple. Build a better network. Here’s how it’s done. There are 3 types of referrer…

  1. Reactor
  2. Promoter
  3. Creator

A reactor is someone who tells others about you when the opportunity arises. For example, a person might say ‘I really need a web designer’. The reactor says ‘I know a great web designer!’

A promoter tells others about you despite not being asked to do so. For example, a promoter might tell a friend he has just had the best holiday ever, and encourages his friend to use the same travel agent.

A creator generates valuable opportunities on your behalf in ways that are likely to work, and go far beyond promotion. I given an example of this below.

The key to improving your profit from business working lies in identifying who your best natural creators are. And that starts by writing down the name of every person you know, and indicating what type of referrer they are for you (i.e. reactor, promoter or creator).

Examine your list and identify your best creator. This is the person who generates referrals of high quality on a regular basis.

Once you know who your best creator is, work out why they refer business to you. Make sure you fully understand what they get out of the relationship. If you’re not sure, pick up the phone and ask. Then go find more businesses like that.

Here’s a personal example. My #1 creator of new business is Intune Computer Services. Here’s why…

  • I offer 4 products they can resell as his own (i.e. white-label)
  • It costs almost nothing to offer them to their clients
  • By doing so they gain a greater share of their client’s IT spend
  • By offering extra services they can exclude potential competitors
  • By offering extra services they may secure new clients and introduce their core products in future

What’s not to love about that from their perspective?

I’m not suggesting you white-label your own product. For you, this may look a little different. As soon as you understand the mechanism that drives your best creator, you can ask to be introduced to more of them.

Even better, you’ll have a thorough understanding of why it’s in their interests to use your service.

If you’re a member of BNI or another business networking organisation, this approach is like gold. It gives you a specific focus that makes it much easier for others to refer business to you.

Another way to promote your site

March 16th, 2010 by Wayne Davies 3 comments »

One of the best ways to get motivated prospects to your site is to write an article about the benefit offered by your product or service. Here’s why…

An article isn’t advertising, so the reader approaches it with less scepticism than he/she otherwise would. This allows you to fully describe the benefits offered by your product without having to worry about whether or not you’re being believed.

Of course, this will only work if your article obeys four simple rules…

  1. Describe the benefit, not the product
  2. Seek to educate rather than sell
  3. Provide plenty of examples
  4. Don’t name a specific product until the end

Armed with these four simple rules you can turn out articles that deliver hundreds of people to your site. What’s more, I’ve found potential buyers referred by articles are far more likely to buy (see rule #2 below for the reason why). I’m sure you’ll find this too.

Articles are a brilliant way to boost your sales. Especially if you write a series of articles, and become well-known as an expert author for a specific publication (e.g. this one).

Regular authors do even better from their articles, and quickly build a fan-base who keep an eye out for their next instalment. Regular authors also get better at writing articles, and discover they can deliver better articles more quickly than they used to. This is a virtuous circle, providing more visitors from less effort.

Now, let’s look at each of the four simple rules in more detail…

Describe the benefit, not the product

Remember this is an article. It’s not an ad. The purpose of an article is to give the reader useful information he/she can apply to his/her business.

If it’s obvious to the reader that your only goal is to flog your product, he/she will stop reading.

The important thing to note here, is the context in which your article appears. When a person starts to read your article, he/she is looking for information. The reader doesn’t expect to encounter advertising. If the reader then discovers your ‘article’ is actually an ad it won’t go down well.

You can avoid making this mistake by focusing on the benefits of using your type of product, rather than your specific product.

In other words, use your article to sell the reader on what he/she gets by using a product like yours. Then you can offer your specific product at the end of the article (see below).

Seek to educate rather than sell

This point follows on from rule #1. Your reader is looking to find out more about whatever it is the headline and introduction to your article promised. Your only job is to provide it to him/her.

Simple, huh?

Chances are you know lots of useful things you can share in your article. And chances are, the reader won’t know some of the things you do.

By providing a service (useful information), you create a debt in the mind of the reader. Human beings are influenced by the law of reciprocation (find out more), and providing genuinely useful information in an article is a great way to invoke it.

You can also use an article to establish yourself as something of an expert. Naturally, you do this by providing useful information (implies expertise) rather than declaring yourself an expert (implies bragging). Your readers will naturally be interested in your own product or service, because they’ll come to trust your advice.

Writing an article is a great way to overcome the number one sales killer: doubt. You really will make more sales per visitor from an article, than you ever will from an ad.

Provide plenty of examples

Articles are more interesting when they include a liberal sprinkling of true stories. That is, where you provide examples that illustrate the points you’re trying to make. For example…

Jane had written several articles for a well-known ezine, and linked back to her own site each time. Yet she hadn’t seen anything like the increase in sales she was hoping for.

Jane decided to ask some of her clients to read her articles, and provide feedback. She discovered (to her horror), that many found her articles dull.

Undaunted, Jane tried a number of things to spice up her articles. Eventually, she discovered that people responded to real-life examples.

In other words, people love reading about other people’s experiences. This is true whether the example is positive or negative. We’re suckers for both good and bad news, as long as it’s someone else doing the suffering!

There’s something about what other people are up to, that we find inherently interesting. Make use of this phenomenon to…

  • Reinforce the point you’re trying to make
  • Inject interest

Don’t name a specific product until the end

If you’re like me (i.e. human), then you’re going to want to scream out about how great your particular product is right from the very first sentence. Don’t do it!

It’s essential that your article focus on the benefits of using your type of product. An article is a tool best suited to education.

Use the article to provide genuinely useful information to the reader, and establish yourself as something of an expert.

You can then complete the article by describing the ways in which your product delivers on the benefits described. But limit this to no more than 2-3 sentences.

Then end your article with a brief ‘About the author’ style description. Describe yourself in the third person, and explain how you help people with respect to the type of product you’ve been discussing in the article.

Anybody who has read your article, and found it useful, is highly likely to take the opportunity to click the link to your site and pay you a visit.