Business 101: Networking to Grow Your Business – Online or Offline the Same Rules Apply
Have you heard the phrase marketing is marketing is marketing? It means marketing principles do not change. The same holds true for networking. It doesn’t matter if you are networking at a live networking event or online in social media. Networking is networking is networking no matter how or where you are doing it.
The Principles of Networking: Online or Offline
#1: Propecting – Brokering – Networking – Do you know the difference? Most people “prospect” and think they are networking.
- Prospecting: When you walk through a reception or meet-and-greet or a conference and you’re ready with your pocket-full of business cards, ready to go elevator pitch and proactively looking for new potential customers. This is not networking!
- Brokering: This is when you connect two people, then expect to be repaid for it (again… not networking!). This is a common mistake that happens in referral organizations. Reciprocity is not linear. As John Jantsch says, “There’s no need to keep score. The Universe will sort out the accounting.”
- Networking: When done correctly, networking is when you connect two or more people who should meet. It’s about adding increase to the lives of others and building mutual social equity.
#2: The premise is relationships not selling – It’s about starting and nurturing mutually beneficial relationships by first adding value and increase to the lives of others. Seriously, what do you really think of someone who proposes marriage on a first date?
#3: GIVING is the essence of true networking – Let me expand that to “giving without the expectation of receiving”.
#4: Listen – Be honest. The best conversations you’ve ever had while networking are with the person who gave you the time of day. The one who listened and asked. The one who was engaged and interested in you first. Be this rare bird for others. Remember: most people are prospecting. Be the lone networker and you’ll be the most memorable.
#5: Act like a host – Think about the difference between how a guest and a host behave. A host is welcoming, introduces others and gets conversations started. Much like the one who listens, when you act like a host regardless of the situation you stand out in the crowd.
#6: Cultivate credibility – The more you give, listen, ask and act like a host, the more valuable you become in other people’s networks. Your reputation rises and you become an indispensable asset.
#7: Educate – Share your expertise from the premise of adding value to your networks. When you demonstrate your expertise in a way that gives true value and isn’t tied to a sales outcome, it elevates trust. And trust is essential in today’s business environment.
#8: Be responsive – It shocked me when I was recognized as one of the most responsive women on Twitter. What I do by following the principles of networking isn’t anything extraordinary. The reality: most people in social media are prospecting not networking. And see how giving and listening and asking and acting like a host made me stand out? Give it a try.
As you can see, the fundamentals of effective networking can be applied to both online and offline endeavors.
How do you make it work for YOU? Master the rules. Then, create your own. Once you know how to play the game, the venue doesn’t matter.
Business 101: Is Your Networking NOT Working? 3 Ways to Build Your Business Network
Networking not working for you?
Effective networking is a dynamic process of building wealth by developing social capital via relevant and responsive networks. Simply put: it’s not what you know, but who you know.
Just imagine building a network that enables you to fill any gap along your journey to success – personally and professionally.
People do business with people they know and trust. Relationships are the core of effective business networking – both online and offline. This means it is critical that you learn how to make meaningful connections with the right people.
Social Media Networking:
In the last few years, we saw everyone jumping aimlessly onto the social media bandwagon. The emerging trend is for savvy business professionals to look more closely at their return on investment (ROI) and how to best maximize social media to promote, support and grow their business – and live their life.
There’s no question that social media networking has enormous potential from global information sharing, and visibility perspective. Those who leverage social media in the right way can make valuable strategic connections, boost visibility and showcase their works to a global audience.
It gives you easier access to experts, new ways of connecting with and building relationships with new and existing clients and colleagues as well as a new channel to creatively market and publicize your company and products.
Social media can quickly become a time drain with little to no results if you aren’t careful. Trying to grow a network through social media, without knowing how or why, isn’t an effective marketing strategy.
Further trend will be towards integrated social networking with an emphasis on relationship building strategies that exemplify critical elements of mutually beneficial business relationship, such as visibility, transparency and credibility.
The Tribal Effect:
Small and big business alike will continue to explore how to leverage belonging to and creating groups, associations, networks (both online and offline) for a number of reasons.
The business community is beginning to recognize the logic behind a one to many approach to marketing versus the tedious one to one methods. A group of like-minded individuals gives you an instant ice-breaker.
You can connect with new people immediately and feel comfortable doing so knowing that you already share a specific interest or focus. And, if you are the creator/influencer, you can leverage the power of word of mouth quickly and easily.
If you are on Facebook or LinkedIn, for example, one of the quickest ways to build your connections is by joining or starting groups. Finding the common ground, creating or belonging to a “community” enhances networking by building a bridge between stranger and colleague or friend.
The tribal effect allows you to establish more meaningful connections and build profitable, win-win relationships. Often, connections go beyond the original purpose and the group becomes a platform to reach out to others and increase interaction.
The connections bridge gaps and establish a bond of cooperation and reciprocity. An individual who has been helped by another is more likely to help someone else and the benefit of “belonging” is multiplied over time.
Forming or belonging to groups and networks increases social capital, builds confidence and leads to increased awareness, knowledge and trust. It enables people to connect more deeply, to commit themselves to each other, to feel a greater sense of belonging, and to become partners in mutual success.
In-Person Networking:
For a lot of entrepreneurs, attending traditional networking events is an environment they choose NOT to endure. Visions of the proverbial salesy networker pitching their wares and fear of strangers keep a lot of new entrepreneurs hidden away in the comfort of their home or office.
Face to face networking shouldn’t be ruled out so quickly. Being able to connect in person often trumps online networking and enhances ones ability to make truly meaningful connections. The solution is to be willing to take a fresh new look at face to face opportunities by learning how to leverage social events from a business growth and networking perspective.
People are and will continue to be busy. Non traditional networking events, such as speed networking, continue to increase in popularity because they are an efficient and effective way to increase your database for minimal investment of time and money. The key though is to plan in advance and know what to do in terms of follow up and relationship building strategies or it’s time and money wasted.
Now, think about the visibility and networking potential of attending charity galas, fund-raising dinners, and believe it or not, even regular gatherings at the neighbourhood pub. Coined “The Cheers Effect” because repeat visibility leads to the “everybody knows your name” local celebrity status.
The reality is that when you know how to network effectively you can network anytime, any place. The goal is to be smart about the avenues you select, create a plan and evaluate your results. Networking is one low-cost high return strategy you need to include in your marketing matrix.
Smart Start-up Tips: Waste Not, Want Not – 7 Ways to Turn What You Got into A LOT (of Profit)
You already possess everything you need to reach your next level of success. Really.
It probably sounds too good to be true, like something a swamp salesman would tell you right before handing you a $10,000 invoice for “Swamp Potential Reachification Services”.
Our scepticism tends to sound the red alert when something comes at a cost of nothing because we all know that’s not the way the world works. If it makes you feel better, you will be using resources, tools and connections that are essentially already bought and paid for – all you need to do is put them to work for you!
7 Ways to Turn What You’ve Already Got into A LOT (of Profit)
#1: Stop Hiding Out (consciously and unconsciously) – One of the biggest mistakes entrepreneurs make is not telling everyone they already know what they’re up to AND how they can help you be more successful.
One of the smartest things you can do right now is craft an update letter that you send by email or snail mail to everyone you know. The letter will bring them up to speed with what you’re doing in business and suggest simple ways they can support your success. You’ll be surprised how the most unlikely source can become your most profitable ally.
#2: Your ONE Thing – How many times have you been in a conversation – face to face or online – when someone said “Is there’s anything I can do to help you?”. Almost always, the conversation ends something like this: “Oh, oh… um… no but thank you so much for asking.”
This my friends is a proverbial “V8 moment”! Imagine how different the outcome of that conversation would be if you had clearly defined your “one thing”. Specifically HOW other people CAN help you right now.
Not certain what to ask for? Ask for introductions, specific advice, honest feedback, or invite them to be part of a joint venture project! The key to making the most of these moments is to get clear about the one thing others CAN do to help you today.
For example, my one thing these days is asking for help to build buzz on May 11th as part of the official Amazon launch party for the forthcoming Success Rituals 2.0 book. Wanna play too? (Wink. Nudge.)
#3: Ask Questions – There are two simple ways you can leverage questions to enhance your profit potential:
Create a survey to gather valuable feedback about your ideas. This allows you to take purposeful and strategic action in your business. The information and insight you’ll gather enables you to meet your ideal clients exactly where they’re at.
Bottom line: Launching products and programs doesn’t need to feel like you’re taking a shot in the dark. Ask questions, evaluate the feedback and give people what they really want.
Conduct interviews with leading experts on topics that you and/or your audience wants to learn about. You bring value to your audience – and, if it’s a topic that you’ve been dying to know more about – you can essentially learn what you need to know with your only cost being the time you invest in connecting and conducting the interviews.
#4: Create Multiple Channels and Formats for Sharing your Wisdom – Re-purpose your content and create what I call multiple streams of visibility (and income!).
Take this article as an example. It will be shared in its original form via multiple channels – Facebook, Twitter, LinkedIn and even on other sites who reference it and link back to this post. I can further leverage it by sharing it in other formats: an audio podcast, script for a short training video, include the 7 ways in an eBook or print book, just to name a few.
What multiple channels and formats are you using? Adding just one can dramatically impact your visibility and profitability.
#5: Your Brain – Did you know we all possess an internal “Success GPS”? We do, it’s called the RAS – reticular activating system – part of your brain. Essentially it’s the science behind “the law of attraction”. What you focus on expands.
The RAS is an automatic mechanism inside your brain that serves as a filter between your conscious and subconscious mind bringing relevant information to your attention and it plays a vital role in your ability to achieve goals.
It’s like wearing golf ball finder glasses. When golfers lose their golf ball in the underbrush, the technology of these cool glasses eliminates the light from background objects and makes the golf ball itself stand out.
What’s really cool about your RAS is that you can deliberately get it working for you by choosing the exact messages you send from your conscious mind. The #1 way to do this is to get crystal clear about your goals – so clear that you can see them, feel them, taste them.
#6: Capitalize on your Unique and In-Demand Expertise – One of the greatest frustrations women in business online experience is SLOW or NO business growth. Lack of cash flow or feeling like you’re on the cash flow rollercoaster.
Take what you’ve already got – what you already know and do that others want to know too – and transform this unique expertise into your own “bread and butter cash flow stream.”
#7: Complementary Companies and Experts – These are people that you can collaborate and co-create with. You share the same target audience but serve them in complementary ways.
Start making a list of these people and companies. Then, create a list of ways that you can work together to serve that audience in mutually beneficial ways. Finally, identify who you can connect with TODAY and make it happen.
BONUS Tip: Give your Way to Success – When you build rapport and relationships with the REAL people in your networks, you develop friends, fans and followers who truly care about your success. It’s called SOCIAL EQUITY and is one of the most powerful ways you can activate reciprocity and build momentum.
Start with generosity. Add value and increase to the lives of others – without expecting anything in return. You’ll be surprised by the rewards that come back to you.
Want more tips on going from frustration to fast forward in record time? Sign up for more TOP SECRET success strategies at www.GinaBellInc.com!
Business 101: Stop the Cashflow CRUNCH – How to Avoid Business Cashflow Bumps with Bread and Butter Clients
Want to get cash flowing more freely in your business? Are you thinking it’s a silly question because of course you do? Almost everyone votes themselves in to this one BUT actions speak louder than words AND there’s a huge disconnect between what entrepreneurs say they want and what they actually do to get it.
Most entrepreneurs are in search of the next big idea. They believe it’s their ticket to making it big. They search and stew and search and stew never getting to the point of putting anything out there. Then, when they think they’ve finally birthed the big idea, they try to perfect it to death.
Enthusiasm flies out the window and the sanity cycle repeats. You know what Einstein said about that, don’t you?
“The definition of insanity is doing the same things and expecting different results.”
Are you ready to try a new (and believe it or not) simpler approach?
The desire to birth a big idea is completely normal. This isn’t about trying to convince you to let go of that dream. What I am suggesting is that you start where you are, with what you already have, to get cash flowing in your business sooner instead of later.
Think about that for a minute…
Imagine letting your shoulders relax a little because the basic needs and business expenses are covered. You eliminate the pressure that was fuelling the insanity. And, believe it or not, creativity starts to flow just as freely. Would you agree these are pretty great reasons to deviate from your master plans – if just for a moment?
Simple Ways to Get the Cash Flowing with ‘Bread and Butter’ Clients
Bread and Butter clients are what some people refer to as “low hanging fruit”. They are “ripe for the picking” because they are ready, willing and in some cases desperate to know what you already know.
How to Add the Bread and Butter to your business:
- Think about what you already know that others want to know too. Take inventory of your existing experience and expertise.
- Take inventory of the topics people tell you they want to “pick your brains” about.
- List the frequently asked questions you receive from your clients and subscribers.
- Survey your community and ask them what their most burning question is or what topic would they pick your brain about if they had you to themselves for just 15 minutes.
- Next, brainstorm how you can meet people where they’re at coming from this existing base of knowledge and experience. How can you package the delivery of your in-demand wisdom?
- The only thing left is for you to create an irresistible offer. Provide your audience an attractive way to learn what they want to know based on what you already know – and invite them.
If it sounds too simple that’s because it is. That’s why I use the term Bread and Butter clients. They are the perfect sideline to the big ideas, the every-day staple that a growing business can’t live without. In other words, your Bread and Butter clients are your fastest path to cash flow RIGHT NOW.
So, take action. Take inventory of what you already know that others want to know too. Therein is the key to your own bread and butter cashflow stream.
One of the greatest frustrations women in business online can experience is SLOW or NO business growth. Lack of cash flow or feeling like you’re on the cash flow rollercoaster is a big piece of that.
Want more tips on going from frustration to fast forward in record time? Register for Fun Fame Fortune Files – TOP SECRET success strategies!
Business 101: Be Ready to JV-The Stinky Shoes Conversation with Potential Joint Venture Partners
One of the biggest frustrations I hear from my clients about joint ventures partnerships is disappointment in what their joint venture partners actually DO versus what they agree to do. Next to that is the big light bulb realization that “Oh, I didn’t really outline any expectations”.
You can dramatically increase the success of your joint venture projects by partnering with people who are ready and willing to be “fully on board” and this requires what I call “the stinky shoes conversation”.
Why you must have the “Stinky Shoes” conversation:
Before you finalize your joint venture relationship, ask your potential partners to confirm:
#1) Alignment – Ask them if the mission and purpose of the project is aligned with their mission and purpose.
#2) A clear marketing calendar – Confirm that their marketing calendar can support the co-promotion calendar to avoid a marketing bottle neck.
This conversation is essential to increasing co-promotion participation AND protects the quality of your relationships. It is designed to let your partners know that you are actively seeking partners who will be 100% committed and on board and prevents any “misunderstandings” as the project unfolds if that partner realizes (after saying yes) that they just have too much on their plate.
My best advice here is that you need to become unattached to the outcome of your invitation. The individuals you’ve invited either WILL or WILL NOT partner with you for this project.
Please, don’t let anyone tell you that asking your potential joint venture partners to send a solo email is a no-no or bad joint venture etiquette. This kind of advice is a load of you know what (and designed to avoid the stinky shoe conversation)! Not only that…if you ask ANY of your potential partners if they only send one email when they launch a product or program, what do you think they will say?
If being bold and staking a claim in our marketing is important to standing out and attracting our ideal client, why would we not be bold about attracting ideal partners?
Say this out loud: “Please will you be my joint venture partner (beg, beg, beg)? If you say yes, you can do whatever you want and treat me however you like. Nooooo, you don’t have to respect any boundaries. I was just saying that hee hee. Yes, I know this is my business and my project but really, you can do whatever you like.”
Read it or say it out loud, either way it’s pretty ridiculous, don’t you think? Neither you or joint venture partner is supported by a “door-mat attitude”. Blech!
V-8 Moment: You CAN set your intentions to attracting high quality, motivated joint venture partners who are 100% committed to the success of the project. You do not have to settle for what you get. Your prospective partners will either say yes or no to the specifics of your project. It doesn’t have to be complicated, personal or any of that nonsense – it’s about business (and doing business together).
When I realized I could set the rules of engagement partnering with me in a joint venture, it completely transformed my partnership results. Just as you create an ideal client profile so you attract high quality clients, you should create an ideal joint venture partner profile so that you attract high quality joint venture partners.
Does that profile include partners who don’t participate in the co-promotion part of the project? No…I didn’t think so. If I tell my joint venture partners that it’s okay NOT to send solo emails knowing it’s the method that gets the best response, and then my partners get poor results, no one is happy at the end of the joint venture project. It is in everyone’s best interest to design a co-promotion strategy that gets results.
Exceptions to the Stinky Shoe Rule:
#1 Negotiates with you – If the potential partner can’t follow your original co-promotion strategy, ask them what they can do as an alternative. In some cases, their idea and offer is better than your original co-promotion strategy
#2 Is a “big name” that adds credibility or wow-factor and becomes a magnet to your target audience – In this case, if they didn’t do anything to promote, it’s still beneficial to bring them into the team.
If you have the stinky shoe conversation upfront, you will no doubt avoid even stinkier conversation down the road with disappointed or frustrated joint venture partners who failed to get the expected results from your partner project.
Want help getting Ready to JV? Check out Gina’s program on how to get the most out of your joint venture relationships called Ready to JV!
5 Joint Venture Marketing Pitfalls and How to Avoid Them
By Gina Bell
Yes, when it comes to joint venture marketing, things can go wrong if you aren’t careful. Knowing the potential pitfalls you may face will empower you to create, implement and manage more successful joint ventures.
Pitfall #1 – Your Joint Venture Goal Doesn’t Match the Partners you’ve selected: What are your reasons to create a joint venture or participate in a joint venture? Visibility, Credibility, Cash Flow? Maybe a book or product launch? Perhaps you are seeking endorsements or testimonials? Whatever the reason, it needs to be in sync with your joint venture partners.
Example: If you’re creating a joint venture opportunity solely for the purposes of credibility but you haven’t done enough research to determine the credibility of your partners, you could end up damaging vs. building your reputation.
Another way to undermine the effort is to align with experts who appear to be completely unrelated to what you do. Even though they may have great credibility, your audience will be confused by the association with them unless you find a way to clearly demonstrate the relevance.
Pitfall #2 – Poor Communications i.e. differing expectations: Being clear, ensuring there is mutual understanding of the project, confirming commitment and more is critical to the success of your venture. The communication element is HUGE. Try creating a simple and easy to follow checklist that outlines all of the details and steps involved and give it to your partners.
Pitfall #3 - Implementation Snafu’s: Implementation is where JV’s can really fall apart. People get busy, they lose emails, they misplace affiliate links… they get busy. What can you do in advance and during the implementation phase of your joint ventures to motivate and support your JV partners? For example, preparing pre-written emails that they can copy/paste or working directly with their VA. Anything that you can do to make participation simple and easy is worth doing.
Pitfall #4 – Low Incentives = Low Participation: One of the best ways to increase participation from your partners is to increase the commission you pay your JV partners. At first breath, you may be tempted to resist this one, but I assure you, the increased participation compensates for the higher commission you’re paying. Many times, your revenues are higher. The increased participation also boosts your visibility too… it’s really win-win.
Pitfall #5 – Crossing lines: When working with joint venture partners, it’s very important to pay attention to the details and to ensure that you represent them in a professional/respectful way and vice versa… spell their names correctly… inspect that they have represented you correctly too. Simply paying attention can ensure that lines aren’t accidentally crossed.
While there are things that can go wrong, there are many more things that can go right too! The best way to guarantee Joint Venture success is to learn how to leverage it in ways that really work for you.
A great place to start is by becoming a FREE member of the JV Mavens Partner and Prosper Network at www.jvmavens.ning.com. You’ll connect with other joint-venturous women and discover practical marketing strategies and must-have mindsets for joint venture success.
Gina Bell is a multi-passionate entrepreneur, successful coach and author, President and CEO of Gina Bell, Inc. a company devoted to teaching success-driven women entrepreneurs how to build “equity-rich” internet-based businesses so they can enjoy all the fun, freedom and good fortune they desire. Gina is also Founder and President of the International Association of Women in Business Online {IAWBO} as well as the Networking Masters International to name a few of her companies and projects. Gina is host of Women in Business Online Radio Show, author to the forthcoming book Equity-Rich Women Online: How to Love, Leverage and Leap Your Way to Wild Success; and co-author to the AWE, Association of Web Entrepreneurs Emerging Trends Guide 2009 and the Power of Mentorship for the Home-Based Business alongside prominent transformational teachers like Bob Proctor and Dr. John Demartini from “The Secret”. Gina is known as a Catalyst for Growth and consults with multi-passionate and creative entrepreneurs from all over the world teaching them how to build equity rich online businesses and how to leverage “catalyst” strategies that enable them to up-level their success quickly and with (a lot) less struggle. You can learn more about Gina, her companies and programs at GinaBellinc.com
We love to hear from you! Don’t forget to leave a comment–and be sure to visit the MOMeo e-learning campus to check out our exciting Business Courses!
Got Social Equity? The quality of your network impacts your net worth: MOMeo’s 30 Day Challenge continues with Gina Bell
When I started to think about the topic of momentum, I kept coming back to social equity, the strength of my network, and the quality of relationships within it.
Social equity is one of my favorite topics to teach, and has a great deal to do with why I’m able to move forward quickly and with such confidence.
Social equity is simply the standards and mutual value of your personal and social relationships. The key to positive social equity is the element of mutual benefit.
When your social equity is high, the people within your network truly care about you and your success – as you care about theirs.
There’s a great deal of mutual benefit. As a result, transitions (in life and business) are much easier to manage, because it’s effortless to garner support in many areas.
They are relevant in that they are interested in your area of expertise.
They are responsive in that they read and comment on your communications.
They are loyal in that they stay around as you and your company(s) grow and evolve.
And, they care – what you do and who you are really do make a difference for them; they notice and it matters.
Does this describe YOUR network?
When you have a relevant, responsive, loyal and caring network it’s almost impossible to fail. I often refer to positive social equity as an insurance policy for your success. The diversity of your network is just as important.
There are specific relationships that are essential to long-term, high level success. For example, if your network only includes customers and prospective customers, there are critical gaps you must consider.
Here are six specific types of relationships, in addition to your network of prospects and customers, that you should spend time developing high social equity with (and why):
- Family and Friends who “get” what you do. These are friends who support, not sabotage, success. When you share your plans and ideas, they fuel your excitement rather than burst your bubble. They don’t look at you like you’re crazy.
- Mentor(s) to inspire and lift you to new heights of success.
- Coach(es) to teach and motivate you to keep growing and moving forward.
- Masterminds/Associations of like-minded and motivated people moving in the same direction as you, to connect, collaborate, commiserate and celebrate with.
- Complimentary Experts/Service Providers. These are business owners who share your target audience but serve them in a way that is complementary, as opposed to competitive. These individuals or companies are perfect for co-promotion, collaboration, joint ventures, referrals and more!
- Industry Experts to stay informed, remain innovative, and strengthen your expertise.
So as you build your own networks and strive to develop high social equity, remember the seven types of equitable relationships and the essential ingredient of mutual benefit.
I’d love to hear how your relationships are supporting your success. Please feel free to comment!
Sign-Up for the 30 Day MOMentum Challenge: 30 Days to Build Unstoppable Momentum
Gina Bell is a multi-passionate entrepreneur, successful coach and author, President and CEO of Gina Bell, Inc. a company devoted to teaching success-driven women entrepreneurs how to build “equity-rich” internet-based businesses so they can enjoy all the fun, freedom and good fortune they desire.
Gina is also Founder and President of the International Association of Women in Business Online {IAWBO} as well as the Networking Masters International to name a few of her companies and projects.
Gina is host of Women in Business Online Radio Show, author to the forthcoming book Equity-Rich Women Online: How to Love, Leverage and Leap Your Way to Wild Success; and co-author to the AWE, Association of Web Entrepreneurs Emerging Trends Guide 2009 and the Power of Mentorship for the Home-Based Business alongside prominent transformational teachers like Bob Proctor and Dr. John Demartini from “The Secret”.
Gina is known as a Catalyst for Growth and consults with multi-passionate and creative entrepreneurs from all over the world teaching them how to build equity rich online businesses and how to leverage “catalyst” strategies that enable them to up-level their success quickly and with (a lot) less struggle.
You can learn more about Gina, her companies and programs at GinaBellinc.com
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