Tuesday, August 25, 2009
CONNECTING IS NOT ENOUGH: Busting the Myth
It’s time to shatter a few illusions now. I’m sorry but networking groups do not produce referrals.
That may disappoint a few people who have spent a lot of time and money joining groups in the hope of generating new business. Hours spent at breakfast meetings, lunches and chatting over canapés when you could have been watching The Apprentice…..all wasted.
Before you panic and start cancelling all of your memberships, bear with me. I didn’t say it’s all a waste of time!
The myth is that new business comes directly from networking groups. Because of that myth, it is common practice to join a group, turn up for a while and then question why you have seen no results. The fact that many miss is that networking groups are merely the starting point; most of the business done and most of the relationships built are based on understanding developed outside of the meetings.
This fact stands whether you are looking at an online networking group or one where the members meet face to face. In both cases you still need to develop strong relationships with fellow members and that means spending some quality time with them.
I write and speak a lot about the importance of the depth of relationships developed through networking. Yes, it is important to build a wide and diverse network, but the real power comes from people who know, like and trust you. That’s when people will go out of their way to support you, when people will genuinely want to refer you, when people will seek out the appropriate opportunities.
Referrals and support come not from networking groups but from your network. They are two distinct entities. Your network comprises people you have relationships with, whether they are personal contacts or people you know through business. Your network includes your friends and family, social contacts, people you have met because your children go to the same school. It includes clients, suppliers, business associates and people you have met at networking groups.
Depending on the strength of your relationship, it is these people who want to support you the most, and networking groups are simply a way of feeding that network.
If you can focus on this, you can approach your membership of networking groups in a different way. Instead of looking for one off ‘hits’, people who you immediately see an opportunity to work with or sell to, find people who you’d like to get to know better. Spend time talking with them, meeting outside of the network and developing a real friendship. Through doing so, you will soon count them as a key part of your network, rather than simply being members of the same group.
For someone to refer you effectively, two key elements need to be in place. They need to both trust you enough to effectively put their reputation on the line every time they introduce you to one of their contacts, and they need to understand your business in enough depth to be able to recognise and convert opportunities to refer you.
The limitation with relying on networking groups, or online networks for that matter, is the number of people present. Unless you are in a small Mastermind-style group, there is little opportunity to have in-depth conversations with fellow members and get to know them better. This makes it very difficult to build anything other than a superficial relationship and unlikely that you will develop the levels of trust and understanding that enable mutual referrals and support.
It’s no surprise, therefore, that people who focus their networking purely within the meetings struggle to achieve the potential from their membership. If you take a typical BNI-style meeting for example, if there are 40 members up to one hour of a meeting will typically be taken up with presentations. There are opportunities for brief conversations before and over breakfast.
Yet there are always members who leave the meeting as soon as the formal section has finished. Typically, they then won’t be seen again until the following week.
It’s not much different at larger and less frequent events such as Chambers of Commerce. Many people spend time looking to meet as many new people as possible, collecting business cards. Conversations are fleeting, handshakes rushed and elevator pitches exchanged. They then move onto their next contact.
The only way those connections can work is if you develop them over time. That means taking time out of meetings to have better conversations. I often use that time initially just to get to know each other socially. After all, you want people you like and have something in common with in your network. Over time you can then find out more about each other’s business, the challenges you face and the introductions you seek.
Networking groups often impress on their members the need to have regular 1-2-1 meetings with each other away from their events. It’s not enough just to meet once and tick that person off your list, remember that you are looking to develop a relationship and that means regular conversations and staying in touch. It doesn’t just have to be two of you, meet in small groups socially as well.
Twitter and LinkedIn users are now holding regular ‘Meet Ups’ (or ‘Tweetups for Twitter fans!) so that they can meet face to face. In the UK, Ecademy have been doing this for years.
You will struggle to achieve anything near the potential from your networking if you focus your efforts purely on the events or forums provided by the organisation. Identify people who can justify a place within your network and build the relationship with them.
Networking groups don’t provide referrals. They can, however, introduce you to the people who, over time, will.
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Posted by Andy Lopata at 2:28 PM
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10 comments:
Andy
Great article with a great message. Building mutual trust is so important and can only be done at a personal level. 1 2 1's ouside of networking events are essential. They take time but do pay off in the long run.
Maybe we should be arranging a tweetup!
Neil Ryder
Absolutely right - so many people turn up at Networking events with a bundle of cards in their hands and ask "OK - so where's the business then?" And it doesn't happen like that.
That is why Networking is a long term investment - getting to know people and finding their details. It took me a good 6 months before referrals started coming in, but it has built and built since then as people have got to know me and what I do and how I do it.
Of course, different groups have different formats - some encourage this "getting to know you" as a part of their meeting (e.g. 4Networking) and others encourage it outside the meeting (e.g. BNI, BRX, BNC, etc). But all would stress that it is the long term relationship that drives the business not the individual meeting itself.
What I like about the plethora of groups around is that they all give a different way of approaching how to build those long term relationships. Some work better for me than others - and vice versa - but they all give a structure and a framework within which those relationships can then develop - ultimately spinning out of the groups themselves.
Well done Andy,
The reason that some of these groups don't produce much business is the lack of accountability. Some take, others give.
I develop trust by helping people. I develop understanding by making it easy for them to help in return. That means ensuring my messages are clear. I ensure the relationship grows by following up.
The networkers I am able to refer most often do the same. It can't be a coincidence.
Andy,
Great article about the long term value of investing time and energy to get to know people!
Thanks for sharing your thoughts and ideas.
I advise people to connect to others they know and trust on LinkedIn - against the widely shouted view that every connection is a good thing...
And personally I do network with everyone that appears to be looking to build a relationship - and I connect after that relationship is established.
It's a bit humorous to find people complaining that the only way to "network" is by accepting their connection attempt... That's just as effective as pawning a business card to everyone you shake hands with at the in-person event...
Oh well, there's only so much one can do...-)
steve
--
Steven Tylock
The LinkedIn Personal Trainer
http://www.linkedinpersonaltrainer.com
http://www.linkedin.com/in/stevetylock
Excellent article, Andy.
Networking is a long-term endeavor, based ultimately on the strength of the relationships that support it.
And it is something that must be built in advance of the need.
Say it a few more times, and more people will probably start to get it. :)
-ASB
Andy, You are right that "massive" networking is simply waste of time and money. Research show that optimum network size for individual businessman or professional is rather small, and "ROI" of time spent in networking has reverse U shape. Research show also that the "structure" of Your network is important - basically the network should not be too dense (all people know each other well). It is crucial to have good relations with the people acting as "brokers" or "windows to the world".
Andy, and You are NOT right when writing about trust. The trust is not necessary to cement the network, neither to come to business or to recommend somebody to potential customer etc. Necessary is a kind of your predictability, as in every business, but this is not necessarily a trust. Consider cliques for example...
Andrzej Góralczyk
Thank you for all of your comments. It's great to get such feedback.
Andrzej, I'm not quite sure about your argument about Trust. Trust is an absolutely vital component in effective networking. I wrote about trust in more detail in an earlier column for The National Networker, which you can read at http://thenationalnetworker.blogspot.com/2009/06/connecting-is-not-enough-its-question.html
Great article - I see many professionals spending all of their valuable time scouring blogs, networking, sending invitations to connect via Social Media, etc. While networking is valuable, it is critical that you don't lose sight of what is important - building your business by targeting & identifying networking contacts with lazer-like precision.
To be your best at the networking function, it is key that you treat each person as an individual and not simply a number or name that you have stored in your database. Does it take time? Absolutely! Is it worth the investment? Definitely!
Joni Fisher, CSP
Fisher Search Group
Andy,
Thank you, it doesn't get much clearer than this article!
For me, your key statement is this: "people who focus their networking purely within the meetings struggle to achieve the potential from their membership."
Why? Because showing up, giving your 30 second pitch, and handing out your business card is NOT networking. It's selling and advertising!
Selling and advertising works, of course. But not within a networking organization. It takes a much wider audience than the 20 or 30 people who are in your networking group to make it an effective use of your time. That's why advertising uses things like magazines, newspapers, blogs... thousands of readers.
No wonder people get frustrated with "networking". They're actually "advertising" and doing *that* wrong, too.
Beth Bridges
The Networking Motivator (tm)
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