If you’re in business today, networking is probably part of your promotional repertoire. In general, networking has become a fact of doing business. Many professionals and small business owners contribute upwards of 75% of their existing and new revenue to networking. But it’s one thing to know you need to network and another to network well.

I’ll never forget the first event I had to attend one week after I moved to New York and took my new position with JPMorgan Chase. I took a cab to the Hyatt at Grand Central from my apartment near the United Nations in Turtle Bay (an area of Manhattan with a diverse population of diplomats and their families although not an area as well known as The Village or Chelsea). I finally located the function room, stood outside the door for a few minutes getting my courage up to walk in, which I finally did. After standing just inside the door for a short few minutes, looking around at the room full of financial executives from global corporations around the world, I promptly turned on my heels, walked out and went back to Turtle Bay.

I was paralyzed. I stared at the ballroom filled with suits who’s names I couldn’t pronounce, names with more trailing initials than would fit on a single address line in my ACT! database. My inner voice was screaming “What are you doing here?!” …and I didn’t have an answer.

We’re business people but we’re not all outgoing, life-of-the-party types. Learning the art of and getting the confidence to walk into a room full of strangers and striking up a conversation can be as overwhelming as creating the business itself.

What if you say the wrong thing? Worse yet, what if you walk up to a group and they ignore you? Lou Perrott, in his recent Inc. magazine article says the key to overcoming these networking fears – these psychological roadblocks – is to make a plan before you enter the room.

We talk about the importance of having a networking strategy and a plan for that strategy in Bold Vision’s Promotion Action program. But at the very least, you need to remind yourself of your goals and why subjecting yourself to such stress is a good thing.

Ask yourself:

1. What is my objective for spending xx number of hours attending this event?


2. Is this event the proper venue for this objective?


3. Who do I need to talk to here and what is the outcome I need from that conversation to achieve my objective?

Networking is an important tool for developing your business and it’s critical to a successful self promotion plan. Place the same level of importance on learning to network well as the importance you place on growing your business and you’ll see some pretty dramatic results.

For information about the onsite Promotion Action program or the Promotion Action teleclass check the Promotion Action page on the Bold Vision website.

Here is a list of a few different types of networking events and the pros and cons of each, depending on your objective for attending. Use this to help you with your next networking strategy.

What's your time worth? If you regulary spend time attending networking meetings and/or events, you're making a BIG investment. It may not be a large dollar investment, but think about the time you invest. Time, as they say, is money and there's no better way to waste that resource than following these 4 networking tips:

1) Forget It's Business 2) Don't Have an Objective 3) Wing-It 4) Go for the Numbers

FORGET IT'S BUSINESS
A networking event is not a party and getting there is only part of the battle. If you plant yourself in a chair or attach yourself to someone you already know well and you're talking about the weather and the Sea Dogs because it is comfortable; that's not networking.

It’s not about the food and it’s not about the cocktails so if your idea of a good Chamber After Hours is a free dinner and to knock back a few beers, you are probably not seeing a lot of networking success. You're here to make new contacts and develop other important contacts. It’s not about making an appearance and it’s not to party. BE FOCUSED.

DON'T HAVE AN OBJECTIVE
Why are you going to these events? (If it’s for a free dinner and drinks, we’ve already addressed that in #1 above.) Who will be attending this event? What client or potential client would you like to meet or get to know better? Make it a point to think through the result you would like to walk away with. If it’s a new prospect you would like to meet, do your homework. Learn about their business before hand. Spend some time thinking of people you know with whom this potential prospect or client may be able to do business with or who they might be interested in knowing. BE PREPARED.

WING-IT
First impressions matter. You'll need it to introduce yourself and answer the question “What do you do?” at networking events. If you’re a member of BNI (Business Network International) you have to introduce yourself and answer the question “What do you do?” every week. And surprisingly even BNIers, who have to give their “60-sec” (elevator pitch, audio logo, etc.) to the same people every week, don’t give a crisp, clear description of what they do and for whom they do it. Many people you meet at other networking events will be unfamiliar with you and what you do so it’s important to practice your “audio logo” so when someone asks “What do you do?”, you’ll be able to tell them: 1) Who your target audience is; 2) The problem your target audience has (This is important.); and 3) The solution you provide to clients with this problem - how you fix the problem.

Not only will you be able to tell what you do, you’ll sound natural doing it. Be confident, but not stilted or pushy. Remember, a networking event isn't a formal interview any more than it’s a party. BE SUCCINCT. (And don't forget to smile!)

GO FOR THE NUMBERS
We talked about networking being more like farming than hunting in a previous issue of “Making It Happen”. For your networking efforts to pay off most effectively, you should focus on getting to know people and their business and on them getting to know you; not on how many contacts you can “check off” the list. It shouldn’t be a card gathering contest. Networking is about developing close relationships because people do business with people they like and they trust. It’s not what you know that counts; and many times it’s not even who you know. It’s how well you know them.

Focus on the quality of the connections you make rather than the quantity. Look at the person in the eye when you're speaking to them and when they are speaking to you. Don't be scanning the room looking for your next target. BE PATIENT.

And the $12,000, where did that come from? Let’s say, on average, your time is valued at $50/hour. (If your hourly rate is more or less please make the adjustment to your calculation.)

• You’re a member of an area BNI group, so you meet once a week for 90 minutes a meeting. You have approximately 30 minutes travel time to and from the meeting. 104 hours a year. $5,200 (not counting the annual membership dues)

• You meet with your networking partners throughout the year to get to know each other and your work better. You meet individually as well as in Referral Sphere groups and training venues. Let’s assume you have these types of meetings/ gatherings 36 times a year, which is 3 times a month – for 1 hour a time. $1,800

• You’re a member of the Chamber of Commerce and you attend a few Chamber After Hours events as well as a few Eggs ‘N Issues events throughout the year for a total of 26 hours a year. $1,300

• You’re also civic minded and are a member of the Kiwanis, the Rotary or another civic organization. While technically, your primary reason for joining this group isn’t to network, let's face it; you make some great contacts and do some great business through these contacts. Assuming weekly meetings of an hour and a half per meeting you’re looking at an investment of 78 hours a year. (This doesn’t take into consideration the various projects and additional time these organizations sponsor.) $3,900.

$5,200 + $1,800 + $1,300 + $3,900 = $12,200

Whatever time you invest in whatever activities you consider to be valuable networking opportunities, it is important you treat this investment as you would any other financial investment you make. Because when you get down to it, networking IS a financial investment.

BE FOCUSED * BE PREPARED * BE SUCCINCT * BE PATIENT.

And Remember, (how could you forget?) BE BOLD. All success starts with a Bold Vision.

On May 25 Bold Vision Consulting will begin offering the 12-week course “Promotion Action Plan - Attract More Clients With Less Effort by Becoming Recognized as an Expert in Your Field” exclusively for Professionals whose business is their expertise. Independent Service Professionals interested in more information please email info@boldvisionconsulting.com.

In June, Bold Vision Business Intensive program will be launched. The Business Intensive program is a series of 8 90-minute classes. Two programs will be launched; one that will meet in person (South Portland, ME) and one that meets via teleconference. For more information send an email to info@boldvisionconsulting.com.

Networking is a challenge for most small business owners; myself included. The Making It Happen article earlier this month on networking brought a few comments and questions so I thought I would tackle the topic again.

Here are a five tips that can help you improve your results from networking efforts:

1. Network smart; develop a core network or your “contact sphere”. People in your core network or contact sphere are people whose businesses are closely aligned with yours. A bookkeeper’s contact sphere would include a CPA, a lawyer, a financial planner, a business consultant, a banker, etc. All of these professions can work with and refer to each other frequently and easily.

Another example; my husband, Gerard, is a jeweler at Porte4 in the Old Port. He is part of a contact sphere he and his network call “the wedding mafia”. The “wedding mafia” includes Gerard, a jeweler, a florist, a photographer, a DJ/entertainer, a skin care esthetician and a hotel representative. See how these professionals can easily refer to each other? Make it a point to develop relationships with those professionals whose targeted clients are also your targeted clients.

2. You have 2 eyes and 1 mouth; use them proportionately. Remember as we discussed in the last article, networking is about farming, not hunting. Don’t attend a networking event with a goal of closing a sale or even booking a meeting. Attend with the goal of meeting a new contact or getting to know one a little better. I heard this recently: "Listening is power and talking is giving it away. Be a power networker." Power is good.

3. Have a networking target. Anticipate who will be attending the networking event and who, among those attending you would like to meet or get to know better. Make it a point to make that happen. Meet them with the intention of learning about their business and their business needs. Look for an opportunity to help them which will also give you a chance to follow up.

4. Use the principal of reciprocation. It’s a funny trait we humans have; we want to give back to those who give to us. It’s not that we don’t like to have people help us, but we tend to keep track and are more likely to say “yes” if we feel we owe somebody something.

For example, Jack knows how much you enjoy the ballet. When he discovers he can’t use his tickets for the upcoming Russian Ballet production of Swan Lake he calls and offers them to you. (You are, of course, ecstatic and gladly accept.) A few weeks later, Jack approaches you with a request for a donation to the annual fund raiser of his favorite charity. Or perhaps Jack wants to meet someone you know and requests an introduction. What do you do? You help him out, don't you? …is there a question?

5. Give it time. It is unrealistic to expect a steady stream of referrals before you get to know the people in your networking group or more appropriately, before they get to know you and your business. When someone gives you a referral they are, in a way, putting their reputation on the line. Most people will want to get to know you and know they can trust you and your work before they’re willing to refer to you consistently.

There are no magic pills or secret handshakes to building your business. If done with a genuine view towards helping others get what they need, word-of-mouth networking will be the most productive and most cost effective marketing investment you will ever make.

Do you have any secret networking tips? Send me an email and let me know. I’ll collect the mail I receive and include it in a future “Making It Happen” MaineToday.com article.

Note: Those of you who write BLOG entries or e-zine articles and wonder who reads your words, I received a nice email from Ivan Misner, the founder and CEO of BNI (Business Networking International) after the previous Making It Happen article on networking. Mr. Misner wrote me to say "Thank you" for the kind words and for supporting BNI. The moral to the story is, “yes people DO read these things and your words can make a difference". It also goes to show you that it's true; the harder you work the luckier you get.

And remember - You have to Be BOLD! It all starts with a vision.

In April, Bold Business Boot Camps, a day-long planning and implementation workshop for small business owners and entrepreneurs. Invest a day and develop a 1-page plan for the next 12-months and your best year yet in business ..and in life. For more information visit www.BoldVisionConsulting.com or send an email to info@BoldVisionConsulting.com.

In late May Bold Vision Business Intensive teleclasses will be launched. The Business Intensive program is a series of 8 60-minute teleclasses that meet once a month on the phone. Participants can sign up for a single class ($39) or for all 8 and receive a 25% discount ($234). Materials and a recording of the calls are included. For more information send an email to info@boldvisionconsulting.com.

Coming in June, BoldVision will begin offering the 12-week course “Attract Clients by Becoming Recognized as an Expert in Your Field” for self employed service professionals. For more information email info@boldvisionconsulting.com.

Last week I was talking with a new client who was complaining about a lack of business. He started his accounting business six months ago and has spent months and a good deal of money designing and building a decent website, brochure, post cards, etc. He is also a member of a BNI (Business Area Network) group. However, he wasn’t doing the business he thought he would be doing by now.

I asked him why he thought new business was slow in coming in. He told me, “Because no one is referring to me at BNI”.

...hmmmm. Excuse me? You’re business isn’t growing because no one is referring to you? …Being the diplomatic person that I am I didn’t actually say that. I did, however, start a line of questioning that guided the conversation to the topic of success, his success - or the lack thereof - being his responsibility, not his fellow members’, nor his competitors’, his spouse’s, his mother’s or anyone else’s.

Don’t get me wrong, I’m a member of the BNI, Roma Referral Group. They’re a great group of people and I believe that the relationships I’m building there will help me grow my business. Did you notice, however that I said “the relationships I’m building will help me grow my business.” I didn’t say “the BNI members will give me business”.

To the small business owner word-of-mouth-networking is one of the most important and cost-effective practices you can use to promote your business. In Maine, where small businesses make up over 90% of the business community, there are more than a few organizations providing more than a few networking opportunities every week – every day, for that matter.

Most small business owners know the importance of word-of-mouth networking, but like my client, most don’t understand that it is just one ‘tool’ you use to build your business; it’s not something you do and then you wait for the clients to arrive when others direct the business to your door.

As Ivan Misner, the founder of BNI, says; “Word-of-mouth is more about farming than it is about hunting.” Your goal with networking should be to get to know people and their business and for them to get to know you. Networking is about developing close relationships because people do business with people they like and they trust.

It’s not what you know that counts; and many times it’s not even who you know. It’s how well you know them that counts.

Networking isn't something that necessarily come naturally; it’s a learned skill for most. There are a number of things to keep in mind if you want to increase your business through networking, the first being, you have to put yourself “out there”.

For example, my client attends his weekly BNI breakfast. …that’s it. The rest of the week he gets up - drives to work – works - goes home …and does it all again the next day. Sure he sees friends and has a life, but regarding networking efforts… his weekly BNI meeting, with 25 or so members, is it. Word-of-mouth networking, to be productive, needs to involve more than 25 ‘mouths’. You need to be visible in the community and participate in a variety of networking groups and trade associations.

A friend and fellow BNI Roma Referral member, Carl Loomis, is master networker. In addition to BNI, Carl is a Greater Portland Chamber Ambassador, the past president of the Portland Kiwanis, the first to volunteer to support a colleague by sponsoring a team at an upcoming American Cancer Society fund raising event, get thrown in jail every year during the Muscular Dystrophy fund raiser…. and on, and on, and on… Everyone knows Carl and Carl knows everyone. He’s not only a great networker, he’s a great guy. Or maybe he’s a great networker because he’s a great guy?

The point is, networking isn’t ‘doing time’. Networking is getting out there, getting known and participating in the community and operating under the philosophy “Givers Gain”. At the end of the day, it’s your business and your responsibility. Networking, while a good tool, is just that; a tool. It’s up to you to use itl.

And remember, Be Bold! It all starts with a vision.

Bold Vision is hosting a one-day, co-active workshop titled "Your Best Year Yet in Business.... with Balance." Participation in each workshop is limited to 8 to maximize the individual focus and interaction. There are 4 dates to chooose from: April 4, 18, 25 and May 2 at the Bold Vision office, 819 Broadway in South Portland. Readers of MaineToday.com will get a 20% discount off the $215 regular fee. For more information send an email to info@BoldVisionConsulting.com. Don't forget to reference "MaineToday.com" in your email!

You can try the Best Year Yet online workshop for FRE*E - just use the link here and enter Referral Code 380 and they'll know you came from the Maine Today BLOG.

Is fear holding you back from building your business?

When I was promoted to my first professional position (let's face it, we're all in sales) the thought of meeting new people one-on-one--let alone speaking in front of a group strangers--terrified me. I would walk into the meeting room or the conference room; my heart would pound and the temperature of my hands would fall below the freezing point. I may have appeared confident and professional, but the thoughts running through my mind were “I’m not a sales person! I don’t fit in here! What if say something stupid!”

What was the total price tag I paid for this fear? What did I miss in bonus pay on the business I did NOT attract? It’s hard to say and candidly, I’m not sure I want to know; but I have no doubt the total approached the high 5-figures. Not to mention all the new contacts and friends I could have developed. After all, it’s who you know as much, if not more, than what you know that is important.

Don’t get me wrong; I still have to work at it. But, for someone who could barely gather the courage to walk into a business meeting, I feel I’m now an outgoing business owner, conducting workshops, seminars and speaking. In fact, after I complete this article I’m hopping on a plane headed for France where I’ll speaking about how to master the art of “Making It Happen” to a group of American and British ex-pats living in Paris.

Does fear or shyness hold you back? Does it steal from your profits or keep you from taking that step toward your business dream? There is hope. Just as I am reaching my goals --in spite of my fears and shyness—you can too. I have a lot of ideas to share on this subject, but here are 5 tips to help you get started and break out of your shell:

1. Set & write down goals. What do you want to achieve? By simply taking the time to define your goals and write them down, you join an elite group. Only 1% of the population actually document goals. AND Research shows that, on average, this 1% who DO document their goals earn 10 times more than those who do not. Add a zero to what you’re currently making. That’s a big difference.

2. Before you enter a networking event or gathering, prepare what you'll say in advance. Write down questions you want to be sure and ask. Make notes of the points you want to make. Prepare for a business meeting or networking opportunity as if you're preparing for a speech. That way, even if you’re afraid as you talk, you'll get what you want to say, said.

I do this especially when I’m going to an event and I know someone I want to meet will be there. I make sure I have background on the person and their business, I prepare questions and comments and I know my desired outcome. Most of the time what I want to walk away with is an invitation to send them more information or to give them a call. Remember, networking isn’t a "close the sale" call – it’s networking.

3. Arrive at meetings and appointments early. You know who you want to talk with and you know what you want to ask and say. You’re late and you rush in, out of breath, the room is packed…. Your mind is racing, you completely forget your name, much less the questions you wanted answered…even who it was you wanted to meet.

4. FOLLOW-UP... Referring back to my post of 10/19, you’ve got to follow-up with people you meet. Following up is the main point, so an email is fine. However, a handwritten note is much more effective. It doesn’t take much time, just a few lines-- "Good to meet you this morning / afternoon. I'm excited about your business". Today it’s unusual for someone to send a personal note. More likely, the next time the recipient sees you, they will come to you to talk. That will make your (networking) life so much easier, won’t it?

5. Evaluate what works. As you gain more experience, you’ll notice there are phrases, comments and questions that are more effective than others. Use them… a lot. On the flip side, phrases or actions that seem to get no response, or worse, a negative response, take notice and eliminate them from your repertoire.

Learn from your mistakes. When you take time to assess your approach, you'll position yourself to be more successful in your interactions with people.

The main thing is setting and documenting your goals and Getting Out There. More than likely, a big change won’t happen overnight; but keep at it regularly, one-day-at-a-time. Each time you have a little success you’ll think, `That wasn’t too bad,' and you’ll be inspired to try again. The more success you experience, the more confidence you’ll have. And the more confidence you have, the less fear.

Your success as a business person and an entrepreneur is dependant on how well you communicate. If you allow fear of sales or shyness to control you, don't expect great success in business. Use these 5 tips to break the cycle and reclaim your power.

Until next time – Bold Results start with a Bold Vision! Go out there and Be Bold!