Acelera Group Business Networking: It's Not Who You Know
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The document discusses the concept of business networking, emphasizing that success is not solely about connections, but about the quality of relationships and mutual understanding. It outlines key strategies and principles for effective networking, such as cultivating relationships, understanding the needs of others, and being a resource to your network. The text also advises on how to effectively prepare for networking events and the importance of follow-through and personal branding.
Acelera Group Business Networking: It's Not Who You Know
- 1. Business Networking IT’S NOT WHO YOU KNOW Lee Levitt, Managing Director © 2017 Acelera Group All Rights Reserved
- 2. What is Business Networking? It’s Not Who You Know! A Framework for Networking Success { 2 } TODAY’S CONVERSATION © 2017 Acelera Group All Rights Reserved
- 3. What is Business Networking? © 2017 Acelera Group All Rights Reserved
- 4. When You Hear the Term… { 4 } Connections Relationships Opportunity Business Contacts Meeting © 2017 Acelera Group All Rights Reserved
- 5. The Purpose of Business Networking { 5 } To develop and activate your relationships to increase your business, enhance your knowledge and expand your sphere of influence © 2017 Acelera Group All Rights Reserved
- 6. Who is Business Networking For? Sales people… Job seekers… • • • Chaplains! “I went to a Central Kentucky Hospice Chaplain Peer Group meeting. Learned more about helping mourners with complicated grief, met other area chaplains, and commiserated/shared experiences/tips/strategies.” { 6 } © 2017 Acelera Group All Rights Reserved
- 7. What Holds You Back? 27% 16% 14% 12% 10% 6% 22% I haven’t found a good networking group I don’t like asking for business or favors I don’t know what I can contribute I don’t want to appear pushy I haven’t gotten positive results I’m afraid to meet people I don’t know Nothing, I love networking Events Networking Schedule Business Location Commitments { 7 } © 2017 Acelera Group All Rights Reserved
- 8. How Would You Characterize the People You’ve Met at Business Networking Events? 5% 2% 50% 29% Pushy or overbearing Quiet, withdrawn or shy Comfortable or friendly Helpful { 8 } © 2017 Acelera Group All Rights Reserved
- 9. Most network events are meet-n-greets, time consuming, and have little value. Building a good network requires strong relationship building, not “LinkedIn relationships.” { 9 } Some have no idea what networking is about. Often don’t listen, just interested in spreading cards and talking about themselves/their business. What I find with networking is that people are full of ideas and promises and connections when you meet face-to- face, but the follow-through is often really disappointing. I am probably at fault for not following up at times myself. The People You Meet © 2017 Acelera Group All Rights Reserved
- 10. Range in Recent Experience Waste of time. A college alumni event in NYC; the average age was too young for me. Just felt like I could have researched it better before attending. I was asked to help with some governance issues at a theatrical non-profit, and as a result of those contacts the organization is helping me to put on a theatrical production, and helped write – and get – a grant for the production. People at those things tend to talk to people they already know. Few are there to help generate ideas or make introductions. They are there for the free food, drinks and seeing people with whom they already have relationships. It was tremendously valuable. It showed me the preparation that is necessary to be effective at a conference. I hadn't done it, which meant the results were mediocre, and I know what to do for my next conference. { 10 } © 2017 Acelera Group All Rights Reserved
- 11. Value of Your Network { 11 } Network Connections Opportunities Business Referrals Results © 2017 Acelera Group All Rights Reserved
- 12. The Power of Your Network 24.5% 10.6% 7.2% 7.9% 8.9% 13.5% 27.4% Less than $10k $10-25k $25-50k $50-100k $100-250k More than $250k Don't know/ not sure $26M 302 people reporting! In thinking about the power of your network, how much business revenue did you generate in the past 12 months with the help of your network (contacts made, referrals, references...)? { 12 } © 2017 Acelera Group All Rights Reserved
- 13. It’s Not Who You Know… …IT’S HOW WELL YOU KNOW THEM, AND HOW WELL THEY KNOW YOU © 2017 Acelera Group All Rights Reserved
- 14. Farming vs. Hunting Understanding What’s Important To Others Developing Your Personal Brand CRITICAL SUCCESS FACTORS { 14 } © 2017 Acelera Group All Rights Reserved
- 15. Farming vs. Hunting { 15 } Hunting takes advantage of weakness Farming requires investment and patience Quality versus quantity © 2017 Acelera Group All Rights Reserved
- 16. Understanding What’s Important to Others What do others care about? What’s their Language of Value? What are their values, passions, specialties, talents, goals? What’s your common connection? How can you help?... How will you help? { 16 } © 2017 Acelera Group All Rights Reserved
- 17. Connection Quality Matters 11.5% 25.1% 40.7% 19.9% 2.9% Like it very much Like it somewhat Feel neutral about it Dislike it somewhat Dislike it very much { 17 } When a casual business acquaintance asks for an introduction to a trusted business contact of yours, which of the following best describes your feelings about the request? © 2017 Acelera Group All Rights Reserved
- 18. Connection Quality Matters 43.7% 28.3% 24.2% 2.9% 1.0% Like it very much Like it somewhat Feel neutral about it Dislike it somewhat Dislike it very much When a trusted business acquaintance asks for an introduction to a trusted business contact of yours, which of the following best describes your feelings about the request? { 18 } © 2017 Acelera Group All Rights Reserved
- 19. Developing Your Personal Brand { 19 } Core Values Passions Talents Your Specialty Goals © 2017 Acelera Group All Rights Reserved
- 20. A Framework for Networking Success © 2017 Acelera Group All Rights Reserved
- 21. Establishing a Consistent System BUILDING YOUR NETWORK CULTIVATING RELATIONSHIPS ASKING FOR HELP When is the best time to build your network? { 21 } © 2017 Acelera Group All Rights Reserved
- 22. The Concept of Givers GainⓇ Good business networking is about establishing yourself as a resource The more you give, the more you’ll get… { 22 } Givers Gain Ⓡ is a concept popularized by Ivan Misner, Founder of BNI © 2017 Acelera Group All Rights Reserved
- 23. Ten Rules for Building Your Network Find the “right” venue (event, one on one, small group) Schedule time in your calendar for follow up Do your homework Invite a friend/peer/coworker Show up early, be the host Bring plenty of business cards! Listen actively (rather than waiting to talk!) Have a goal and a plan – is there someone specific you want to meet? (The Ten Penny System) Write notes and commitments on business cards This is network, not neteat, netdrink, netsit, netsell { 23 } © 2017 Acelera Group All Rights Reserved
- 24. Cultivating Relationships { 24 } Prepare, research, understand – what is up for the person you’re talking with? How will you stay connected? How can you help them to achieve their goals? What commitments are you willing to make/hold? © 2017 Acelera Group All Rights Reserved
- 25. Asking for Help • Remember – people want to help! • If you are living your Personal Brand, help will come to you! • Be specific in your requests • Follow up with your referral source. Thank them for the referral, with specifics. If it wasn’t a good fit, reshape your request. • Build referrals into your day-to-day activities or calendar { 25 } © 2017 Acelera Group All Rights Reserved
- 26. Review your personal brand with two or three trusted friends; ask them what value you bring Commit to attending a specific number of events or meetings Use the buddy system to hold yourself accountable Review the ten rules for building your network before each event Follow up on commitments Ask for referrals (rather than for business)… Be clear on your goals for networking { 26 } NEXT STEPS…BUILDING AND ACTIVATING YOUR NETWORK © 2017 Acelera Group All Rights Reserved
- 27. Three Things to Remember { 27 } Networking is about giving Your Personal Brand is your only durable asset Invest in your network every day © 2017 Acelera Group All Rights Reserved
- 28. Let’s Connect twitter: @LEEMLEVITT linkedin: WWW.LINKEDIN.COM/IN/LEELEVITT/ blog: BLOG.ACELERAGROUP.COM web: ACELERAGROUP.COM © 2017 Acelera Group All Rights Reserved
Editor's Notes
- #27: And celebrate success!