Effective Networking: A Key Business Success Factor:

You don’t have to know everything as long as you know the people who do.

Harvey Mackay

Effective Networking• A myth - Networking means meeting other people • See in their actions and their words• Reality - 95% of networking is a waste of time• Why – You don’t have a goal.

• It’s not a contest• Most business cards handed out or received• Most handshakes• Most trips to the snack bar

Networking: Off-Line and On-Line

• Power of Collaboration• Networking Goal• Networking Defined• Networking – Why and Who• Networking - How• Traditional or Off-Line Networking• On-Line Networking

Networking Goal• Connections •Those who need me•Those I need•Those who can help me take the next step

• Learning - Trends, competition, industry, & customer problems• Tips from those who have been there• Future

Answer this question – If all of Google’s data were stored on punch cards, how big would the pile of cards be?

• http://www.ted.com/talks/randall_munroe_comics_that_ask_what_if

An Example

Georges Seurat

Invitation to a Sideshow

Networking defined:

• Widely-held definition - “I know it when I see it but can’t define it, explain it, or understand why I can’t make it work”

• Defined - The informal process of linking people to each other as resources; assisting, supporting, and helping others find the resources they need

Also Known As

LinkingRainmaking

The “good ol’ boys”Schmoozing Connecting

“6 degrees to Kevin Bacon”

Before Starting Know:

•Why? – Already discussed•Who?•How?

Networking – Why?

• Power of linking and shared resources

• DARPA weather balloon challenge -• Task – Locate 10 red weather balloons tethered in the United

States• Time estimated – 1 week

• Actual time was????????

• https://www.youtube.com/watch?v=Fzo4rIpt0gY

Networking – Who?

• Competitors or Noncompetitive competitors• Like-minded AND non-like minded• Professional associations• Referral partners• Complimentary products/services• Same/Different geographical area

• Business contact spheres – i.e., services• Social contacts

Networking – How?• Positive attitude – Set objectives - Plan• Be sincere – Be open – Be genuine – BE YOU!!• Know what you want to say – Your elevator pitch• Not a sales pitch• Be aware of your nonverbal cues

• Be a good listener – 80% listen, 20% talk• Thank people• Offer help – Be a referral source for others• Practice, practice, practice

More “How”• Start small• Lurk - Watch, listen and learn before participating• Develop a strong profile. This is your business card, elevator

speech, and online profile• Find the key players – Don’t be afraid to “unfriend”• Learn the preferred connection methods of the key players

and community and key players• Share and contribute – Add value

How to Use Networking Events

• Don’t arrive late – Best opportunities in first 30 minutes• Dress appropriately• Be the host – Take advantage of “no host” events• Manage your time• Plan how to meet people and how to move• Set a limit on # of people you want to meet

• LISTEN - Give undivided attention – It’s about them• Work the room• Stand by the food – Everyone comes by

After the Event!!

• Take notes

• Keep in contact

• Remember your promises

• Send note cards – Hand-written is nice

• Critique yourself – Learn from your mistakes

• Plan the next event

Networking ToolsYour business card

Business cards of othersName badgeOnline Profile

Website

It’s NetWORK!!!Not

Netsit

orNeteat

Online NetworkingThe “Who” and “Why” are the same.

What differs somewhat is the “HOW.”

Part of “how” remains the same

• Positive attitude – Set objectives – Plan - Strategize• Be sincere – Be open – Be genuine – BE YOU!!• Know what you want - It’s easy, and nonthreatening if you leave• Key is “online profile” and the “about us” section – It’s your elevator

pitch and your sound bite. • Be a good listener – 80% listen, 20% talk• Thank people• Offer help – Be a referral source for others

More Online Tips

•Connect•Attract – Find a niche – Can’t be all things to all people•Greater focus from getting to giving • Acknowledge, say thanks, comment on others, follow

back, share, join communities and help

On-Line Networking: Your On-Line Reputation

• “People are sharing product and service recommendations online every minute of every day.”

-- Stephanie Abrams and Courtney Spritzer

With mobile technology, your reputation travels with (or even ahead of) you.

Networking = Success

Networking has delivered more return on investment than any other tool in my business, both financially and in non-

monetary terms – Chris Garrett

Glenn Muske, NDSU — glenn.muske@ndsu.edu Connie Hancock, UNL Extension — chancock@unl.edu

For resources: powerofbusiness.net

For questions, contact:

Business owners offering tips to business owners

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