What is networking? Are you going to meet a strange group of people, often in a strange place, to somehow get something you think will be of benefit. If you fit this definition in any way you are a Networking Numskull. So what about these people who go to 'networking' meetings.
If they go, they introduce themselves and hand out their business cards and collect cards from others. Most of these cards are soon lost or tossed, by both parties!
Everyone knows they should network, but have you? Between making your goals for the company, family and other important things in your life there just doesn't seem to be any time left for networking. I hear this statement from people every day.
Would you make networking a hire priority if it meant an additional $700,000 in income?
It has been shown that by not maintaining and building your network you will be leaving a significant amount of money on the table. More than 80% of all jobs come from networking.
Statistics show that the average person will have twelve or more jobs in their career with an average three year tenure in each. In addition, establishing a network when you are in transition typically takes at least 4-6 months. If you make an average of $100,000 a year and have to re-build your network for each new opportunity, you will be walking away from 48-72 months of income. That adds up to as much as $700,000 of lost income, not including the potential investment income that could have been yielded.
Instead, let's build a Career Networking Strategy to maximize the benefits for all.
Phase 1: the Introduction or Contact
What most people do not understand is that this is NOT networking, these are introductions or contacts. They are no more valuable than that person you met for the first time at the company Christmas party.
Phase 2: Get to Know the other person
So, what to do? Take the first, real networking step and start contacting those people who gave you their business cards. You know, the ones you don't remember! Set up a coffee or lunch meeting and start to "get to know" one another, the first step in networking.
Once you get to know this person you can make a judgment if you should get to know them better. If you decide it would be mutually beneficial to go forward, then start building a relationship. Relationships are what make networking a valuable and rewarding process. We do business with those we have relationships with!
Phase 3: I know the other person
This is when someone asks you about another person and you can say "Yes, I know him/her." And, you can tell a little about their background and expertise. But, you wouldn't put your reputation on the line for this person.
Phase 4: I recommend this person highly
This is when you can honestly recommend this person to another and put your reputation on the line. This is when you are selling this person to another because you have taken the time to really know them, and they you. Now you are both comfortable in providing the most powerful referral, a personal one.
The more people you get to Phases 2 - 4 then the more powerful your network will become!
And don't forget a couple of other simple rules when networking. First, always ask how you might be able to help the other person. If you give, then you will receive. And, surprise, it is not as hard or time consuming as you may think.
Second, create interest in yourself when you first meet someone. How? Start by having a very short statement or 'hook' phrase that creates interest for the listener. You know, the answer to the question 'what do you do'? Why? You only have 10-15 seconds to capture their interest.
For example, a Vice President of Engineering could just say "I am a Vice President of Engineering". This is possibly impressive to some but amongst a group of executives, ho-hum, not at all interesting. But a friend of mine who is VP Engineering says, "I am a de-engineering expert". Instantly he gets the question "what is that"? Now a conversation ensues and the other party will more likely remember this person over most they have met.
Since most people can not come up with a 'hook' phrase, try creating a 'value' phrase. Determine what it is you really do, what value you bring to a given situation or problem.
Instead of that standard 'title' statement, use a statement about the value you bring to an organization or group. For example, "I establish engineering processes that are more efficient, easier to implement, and bring more profit to an organization".
Isn't that better? Someone said, "It is not who you know, but who remembers YOU".
What is an "elevator" speech? I used to think it was something you said while riding an elevator. It is really an expanded 'value statement'!
Even if you think you never need or want to meet an engineering executive, you would still remember this person over most you meet.
If you want to establish business alliances and personal alliances…,
Get past introductions and start building relationships. You don't have a network until you have relationships. Shaking hands at an event does not mean you have built a network. Take time to build relationships that will add meaning to both your personal and professional life. Do not wait until it's too late or you could be walking away from well deserved income.
Ask how you can help the other person, and, don't forget to make an impression that others will remember!
Stephen A. Burgess is founder and CEO of Corporate Toolbelt, a premier business strategy, business planning, leadership and advisory firm. He has served as a 'C' level executive, is a noted speaker, and has his MBA. He currently serves on several Boards of Directors. Steve is also a partner in the Power of 8 and the co-founder and Managing Partner of Speakers Alive!, a southern California speaker's bureau.
He is the Co-Author of the #1 Best Selling book, Purpose, Passion, Abundance, On an Enlightened Path and Business Successes. He is also author of the forthcoming book, Legacies of Leadership, as well as numerous published articles. Steve's advice is highly sought after by entrepreneurs, business owners and companies of all sizes. He works together with clients to uncover the power to maximize their growth and profits!
Discover more at http://www.thebusinessprophet.com
1 comment:
Very informative post. I was the typical networking numskull for many years. I knew I had to network but just couldn't find enough time, or would misplace the business cards I received like you stated.
I was recently introduced to a business referral networking site called Referral Key that has been a tremendous help. I have started to set up my network online, so it is easy for me to form relationships and exchange referrals. It saves a ton of time and eliminates the issue of losing contact info that is handed to you.
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