Category: Visitors

 
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Strategies For Successful Business Networking

There are a variety of organizations that run networking groups across the country. The largest group is probably BNI, which offers members the chance to attend weekly meetings and develop new professional relationships to help them grow their business. some chambers of commerce are now organizing “leads groups” for their members as well. These groups are intended to offer members a way to connect with each other and potentially refer each other business.

In most “leads groups” each group allows no more then one representative from any industry, so if the group has a mortgage broker other mortgage brokers have to join another group or wait for the seat to open up. The idea is that by restricting membership, you eliminate competition within the group.

The agenda at most structured networking meetings is pretty straightforward. Each member is given an opportunity to introduce themselves, then there is a short presentation by one or two members (each member gets the chance eventually). The meeting ends with members discussing potential referrals for each other. This means that most of the members get about one minute to present who they are and teach the other members of the group how to refer to them.

Most people do a great job of presenting themselves. However, most people do not think to ask for referrals. At most networking events, you are not expected to ask for a referral or explain what a good referral for you is. However, at a leads group it is not only acceptable, it is expected!

I am involved in a number of networking groups and have used the simple outline below to create my elevator pitch (quick introduction). When I deliver my elevator pitch to a leads group, my goal is to educate everyone in the room about my company and what I do, as well as to teach them the best way to refer others to me. In addition, I want to make sure I actually ask for a specific referral. I will go through each piece of the outline in detail, but here are the basics.

* Introduction
o Name
o Position + company name
o Location of the company
o Overview of services
* Tell a story
* Call to action

The introduction piece of your presentation should stay the same every time you give it. You might say something like, “My name is Joe Smith. I am mortgage broker at ABC mortgages in Anytown, USA. We offer a full line of residential and commercial mortgage products.” You can add some additional detail, but you should really focus on keeping this short and on point.

At each meeting, you will have the chance to differentiate yourself from the competition by telling a short story during your presentation. The story can be related to a specific challenge you helped a client overcome, a unique feature of your product or service, or you can simply talk about a new development at your company. Consider writing out your stories in advance so you know what you are going to say at each meeting. In addition, you can schedule the content so that the other members of your group learn more and more about you at each meeting. You need to focus on educating your group a little more each week.

The “call to action” is very important and the piece that most people overlook. You need to tell the other members of your group exactly what type of referral you are looking for. For example, our mortgage broker, Joe Smith, might say, “Today a good referral for me would be a Realtor at XYZ real estate company.” Joe may also say, “Today a good referral for me would be anyone who purchased their home more then 10 years ago.”

I alway recommend that your “call to action” is as specific as possible. If Joe stands up and says that a good referral would be anyone who needs a mortgage, the rest of the group will have a harder time thinking of people to refer. If Joe asks for an introduction to a specific person at a specific company, someone in the group may know that person or know someone at that company who can facilitate Joe’s introduction. The more specific the request, the more likely it is to trigger someone else in the group’s memory.

A last minute hint:

Keep focused on the networks of the people in the group, not on the people themselves. In other words, when you are participating in a networking or leads group, you should not focus on gaining the business of the people at the table. Instead, you should focus on gaining their trust so that they will refer you people in their network.

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On Networking Groups ( Part Four )

What is a leads group? Leads groups seem to be the most popular form of networking judging that comment by the fact that there are more leads groups in existence that have been around for a long time than most other types of groups.

Leads groups are often referred to as closed groups. This means that there can only be one type of a business represented in a group. Lets say that I am a web designer. In a closed group I would be the only web designer represented in the group. Other web designers would be allowed to visit, but if they wanted to join the organization they would have to find a group that did not have a web designer. If there was no opening in an existing group for a web designer, the person would have to go on a waiting list until an opening became available, or a new group was formed.

Most leads groups meet once a week. There are some that only meet once a month. Leads groups offer something that a lot of people need. Structure and discipline. What do I mean by this?

Structure – In a leads group you do not have to be a master net worker. As a matter of fact, you can be a shy person and still have success in a leads group. Most leads groups allow a given amount of time to tell other members about your business. This usually ranges from one to five minutes. In this allotted amount of time you can go into great detail about your business including describing what type of leads you are looking for. The format is usually accomplished by sitting around a large table, and a leader moderates the time and asks questions. The meetings are generally held early in the morning or at lunchtime.

Discipline – In a leads group you are expected to show up for the meetings. Theoretically, if a leads group had only 15 members and several people did not show up, it would be difficult to have a reasonable meeting. To insure against this happening most groups require that you assign a substitute when you can not attend. This substitute should be a person in the same industry as you so that the balance of the group is not affected. In this situation, if you have a tendency to miss a lot of meetings, it would not be good to join a leads group. If you miss a lot of meetings without a sub, you will be ejected from the group.

The upside? In a leads group you will get to know people very well over time and get an idea of their abilities to fulfill the needs of a referral. This is good if you do not have time during the week to meet with people one-on-one in order to get to know them. A dedicated group will provide you with a steady stream of leads that you can utilize to expand your business.

The downside? Well, sometimes the leads become a paramount obligation and people feel pressured to pass them. If they are passing leads that are just names and numbers without a true expressed need, the leads generally lead you nowhere. Another issue is a member of the group whose quality of product or service does not meet the standards that you would want to refer to someone. It is difficult to pass a solid qualified lead to someone who will not provide the kind of service that you would expect them to.

There are also a few groups in existence that are in essence leads groups. They allow freedom to go to any meeting you wish as long as you are a member. The format is the same, seated at a table, and there is usually a time limit. The problem with these groups is that people wander in and out and without a lot of time to talk individually, you still have to set appointments outside of the group to really get to know someone. Without the discipline, the freeform leads group usually does not last for a long period of time. Often these groups open and close with great regularity leaving the members to search for another meeting to attend.

In closing, I would like to add that there is no wrong or right group to belong to. Visit groups and you will find the ones that are right for you. It is often beneficial to belong to three types of groups to get the most out of your networking efforts.

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Taking The Vampire Out Of Online MLM Business Networking

You just got started with a new online MLM business and you want to tell everyone online about it. So, you sign up for all kinds of message boards, email groups and other business networking websites.

Before you do anything, please realize that you are dealing with REAL PEOPLE. The Internet seems like this anonymous place where you might feel people wonít really notice you if you engage in any vampirish behavior, but realize that the Internet is no different than dealing with people offline.

Treat people with respect, get to know them first and youíll have plenty of valuable contacts for your business. No, most probably wonít join your business opportunity, but they will teach you a lot about business, will refer others to you and will be a great asset to your business ñ even if they never buy a thing from you.

Some Online Networking No-Nos:

– Sending private messages or emails about your business opportunity or products to another member is in poor taste. If you want to contact someone privately because you feel you have something in common, go for it, but donít recruit or sell.

– When you introduce yourself on a networking group, itís usually okay to say what you doÖbut donít invite people to check out your website or say that you are looking for new customers or recruits.

– Even if a message board or networking group allows you to post ads in certain places or on certain days, donít bother if youíre new. Get to know the group first and then theyíll be more interested your offers.

When you have a new business, it can be stressful and you feel pressure to get results. The important thing to remember is that results come from building long-term relationships and not from preying on online networking groups.

Donít suck the blood out of all your prospects and people who can connect you with potential prospects before you even get started.

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So you want to be a millionaire?

Who doesn’t…

I come across so many people that say “I’m going to make a million dollars in network marketing”. I have conversations with people telling me how they’re going to become millionaires.

That’s great I’ll help you reach that goal every way I can.

But you know what?

Not everyone is going to make a million dollars in network marketing… and that’s ok.

Most people’s lives would change with an extra $500 or $1000 a month.

If you’re in network marketing the opportunity is here to become a millionaire.

let’s talk about that for a second.

To become a millionaire in network marketing is going to take lot of WORK.

Yes, you can do it in the shortest amount of time compared to other business opportunities but you still have to WORK…

But you work smart not hard.

And the cost for start up is minimal.

But it still takes WORK!! no matter how you cut it.

To become a millionaire in network marketing you’re going to have to do things differently.

What do I mean? One of my mentors Michael Dlouhy told me this.

“Duffy if you want more, you’re going have to become more”.

That made a lot of sense to me.

So what if you’re not going to make a million dollars a year in network marketing?

Look I’m not saying you’re not going to make a million dollars, but let’s say it’s not in the cards or that’s an amount you can’t relate to. (Lots of people can’t relate to earning that kind of money)

How much do you make now?

I’ll go with the average and say $30,000. Everything is ok, sometimes it’s a struggle but you get by, but things could be better.

Imagine doubling your income. Can you imagine earning $60,000 per year?

Sure you can.

So if you didn’t make a million dollars a year but you’re making $60,000 in network marketing would you consider yourself a failure?

NO!!

But let’s say your better at this then you thought and you’re earning $100,000 to $150,000 per year.

Would you consider yourself a failure?

HELL NO!!

Do you think you could have a pretty good life earning that amount each year?

YOU BET!!!

Man if you’re earning that kind of money from network marketing. You’re winning trips, vacations, getting deals on conventions or even winning trips to your companies conventions, your winning shopping trips, bonus money, car programs, free product or services.

The things many people have to spend money on such as trips, vacations, products, services and cars. You’re could be getting them from your company for a lot less or even free, because of your ranking in your company.

The life you may want may be a lot closer then you think.

Tell me, if you made $100,000 to $150,000 per year in network marketing you’d be a very happy camper, yes?

Tell me you wouldn’t, I dare ya.

I believe in you!!

Until Next Time

To Your MLM Success

Wael

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On Networking Groups ( Part Five )

Online networking web sites. Are they really networking and are they really working?

They have been springing up all over. They are based on contact management. They are direct in messaging, emailing, and even in the six degrees of separation. They go by many different names and have various methods of finding people. The problem with these sites is that they are not really networking. Do you disagree?

To be effective in networking requires building a relationship with another person. This is difficult to do through messages and email. If you have ever had a discussion with a person through email or instant messaging, I would like to ask if you ever found yourself in a situation where you had to actually pick up the phone to find out what a person was really talking about?

In relationships conversation is extremely important. The communication is key. The thing that we may not really pay attention to is the importance of tonal inflection in the voice and the added benefits of body language in expressing ourselves. These are the things that online networking is lacking.

Since the most important aspect of having a relationship with another person is based in trust, it is difficult to develop trust in someone that you have never seen nor heard. It is even more difficult to get a person to do business with you without some type of face to face contact.

With this in mind, will these web sites last or are they merely a passing craze? Are they popular simply because we are looking for success in any way that it might come to us? Time will tell.

It is my advice that if you are looking for new contacts, step away from the desk and out into the community. Online networking is less effective for getting business than it is putting your resume online to get a job. All of the people are faceless and voiceless and no one really wants to do business with an email. Or do they? With the thousands of people out there who are selling what you need, including those in your own community, how do you decide what to buy? My guess is that you end up buying most premium products and services from someone that you have met in person, even if it is just a clerk in a store. I am of course excluding buying products through an online store.

So then what is the future of online networking? You are in control of it. Please take a moment and send me your opinion of online networking. Please be sure to tell me if you have ever gotten any business from it exclusively. I am guessing that you probably haven’t and you probably won’t.

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The “Networking” Part of Network Marketing

Networking is obviously an essential part of network marketing. Every successful network marketer knows this to be true. Although networking is such an intricate part of network marketing, the two terms are not synonymous. However there are many similarities. Both rely heavily on people skills. Both require people to confront their fear of talking to other people. Both carry with them the risk of rejection. Both also carry with them enormous opportunity. And to some people, both are considered dirty words.

Of course people that consider networking as something that is ‘not done’ don’t understand what networking is really about. The same can be said of people that think network marketing is something that is beneath them. Many people think of networking as a way to get connected solely for their own advancement in life. In that respect a person might feel that it is unethical or not noble to network. This line of thinking stems from the idea that advancement will always come at the expense of someone else, that success in life is a zero-sum game. These people often look at network marketing from the same perspective. They think of profiting from other people’s efforts as something that is negative and not fair to them. In reality, successful networkers will tell you that it doesn’t work that way at all. Networking doesn’t have to be at anybody’s expense and the business of network marketing doesn’t reward anyone for taking advantage of others. It actually rewards people for helping other people to succeed. In that respect it may very well be the most ethical business model in the world today.

A lot of the negativity around networking can be explained by the different types of networkers. Some can be considered ‘hunters’, moving in for a quick kill, after which they move out again. They often operate without regard of the other persons interest and because of this they will enjoy the fruits of success for only a limited period of time. Often it will not take long before people find out what’s really driving the hunter. Once they see that he or she is only looking after his or her own interests, their willingness to interact with this person will quickly evaporate. By contrast, truly successful networkers are often ‘farmers’ who spend a lot of time sowing and nourishing their relationships, instead of just focusing on reaping. They invest in their network, they energize their network. They use their network, but they never ever abuse their network! And their network knows this. A true networker will always keep the interests of others in mind. That’s why working with a true networker is so enjoyable. Networkers are often very likeable and as such people like to interact with them.

Networking is a skill that is essential to all businesses not just network marketing. Although network marketing differs in many ways from the more traditional forms of doing business, the importance of networking is just as prevalent. If not more so. A network marketer that doesn’t know how to network will be out of business in no time. Network marketing is first and foremost a people’s business and this implies that the ability to effectively work with people is absolutely critical. This is why successful network marketers are extremely adept at networking. Many have found out over time that developing this skill can pay off in many areas outside their network marketing business as well. Business owners who have started a home based business on the side often apply their enhanced networking and people’s skills in their traditional business with great success. For some network marketers this spin-off has earned them more money than the income from their network marketing business itself.

So whether you are in network marketing or in a more traditional type of business, don’t underestimate the importance of becoming an effective networker. And if you really want to master this skill you may find there is a lot to learn from good network marketers. So if you happen to know anybody that fits that description, try and benefit from their knowledge on the topic. It will surely help you network your way to success!

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