As our final blog post of 2009, we are featuring Inquisix member Shiera O’Brien‘s article on The Power of Business Networking.

Best wishes for a wonderful, healthy and prosperous 2010!

In the early 90s, a film called Six Degrees of Separation built its story around the idea that we are all separated by six degrees from everybody else on the whole planet. Everybody is an open door into another world and knows the people you are looking to meet or companies you want to work with. Everybody is connected on this planet by a trail of only six people, whether you are famous or not. If you find the right people to make the connection with, distance vanishes and the right opportunities will come your way.

In thinking about this I decided to look on YouTube to remind myself of the key ideas in this film and whether it really does have any relevance to our business life today. To my surprise and delight, I found a documentary on scientists who have studied and written an algorithm to prove this network theory, which they worked on for years. It shows that nature has this hidden blueprint and structure that connects us all. The scientists mapped it out and tested it on people by taking parcels across the world and asking 27 people to only use their social networks to get the package to a person on the other side of the world. It was amazing how quickly the parcels moved closer to the addressee, who was a scientist working at Harvard University in Boston.

This is an idea worth experimenting with in our daily business lives. I apply it in my own business strategy by making my business networks help with word-of-mouth marketing and create the connections and opportunities I seek with particular companies. There is no better example of the power of networks than the latest Web 2.0 social media networks. If you test the theory within your own social circle, you will find very quickly that people have connections that can open doors for you. Many of your connections within your business circle either know each other or have a contact into a client or employer that you may be looking to meet.

Looking at our own economy and applying this to our client-building strategy or job search, makes me think that the traditional ways of building businesses and finding jobs is far too slow. In this day and age, you need to be tapping into your personal, social and professional networks, if you want to get faster results. Systematically searching for the right people through your networks, using a plan, will yield faster results every time than a traditional approach of throwing out a blanket of hopeful letters and calls. In human nature, people will always respond faster to people they know than to strangers.

You may be asking yourself, “How is that in any way relevant to me?” If you are looking grow your practice or find new opportunities, it is very relevant. My suggestion to you is to take it out and test the theory yourself.

Here are six steps to help you in your own Six Degrees experiment:

Step 1: Connect into the network hub

The scientists tell us that in every network there is a traceable hub, where the core activity takes place. It is the place where people gather and take information about you back into their world. Even more interesting is that within each hub, you will find the “human hub”, the person with the highest degree of influence and connectivity. They are important people to know and start building relationships with. What they do for a living is irrelevant, their social currency is what you really want to tap into! Identify this person within your networks. This includes your family and friend networks, professional networks, membership organisations, and most importantly your on-line networks. Ask yourself, “Who are the people gathering around me with the most influential links?” Make sure you set up your social media accounts (LinkedIn, Facebook, Inquisix and Twitter) to build your on-line treasure chest.

Step 2: Have a networking plan

Key to getting the results you want is deciding or naming the companies and roles of people you wish to meet through your network, whether at networking events or through your on-line contacts. Then identify a very good reason why they would want to meet you. Human nature is designed to act principally from self-interest, which is driven by the reptilian part of our brains. So people will always unconsciously ask “What’s in this for me?” Give your network and potential contacts a worthwhile reason to want to meet you. Perhaps it’s to share some information, opportunities, save them money or help them use your networks.

Following on from that, it is important to have something to share about you that’s of value to them, and sets you apart. Direct them to your website, literature, testimonials or information that you think they would benefit from. Ask them to do you a favour. Most people like doing favours for others and help their own business contacts. It helps cement relationships.

Step 3: Authenticity at networking events

There is no end of opportunities to attend networking events as we go into the autumn. Networking is not just about getting into a room to break the world record for the largest business card collection. Nor is it a popularity contest on social media. The most valuable asset you can bring to a networking event is your authentic self. Be real, be present, engage and listen to people as you would if you were at a social gathering. And avoid talking about yourself all the time. Ask great questions. They don’t have to be about business. Get to know people, because relationships are built on this. Even if you only meet 3-4 quality contacts and have agreement to follow up and meet, you will have done a great job. Set a goal of having at least 2 meetings come out of a networking event.

Step 4: The Follow-Up

The downfall of people’s networking strategy is either poor follow-up, no follow-up or the full- blown sales pitch in an email. Think of your follow-up as a “getting-to-know-you” phase of your relationship. It must happen within 24 hours to reinforce the connection you made. Acknowledge the meeting, the event and create the invitation to connect on LinkedIn, Inquisix or Twitter. You will need to explore which of these ones suits your business needs. And ignoring emails is a poor reflection on your business, so avoid it at all costs. Arrange a follow-up meeting, even if it’s for a coffee to learn more about each other’s business, in anticipation of opportunities down the line. This is always a great starting point.

Step 5: The Power of Reciprocity

Give without expecting something back demonstrates how powerful reciprocity can be. If you see an opportunity to share some information or introduce a contact to your contacts, “Just Do It.” This is building some credit for reciprocal behaviour from others in the future. I saw this recently when I did a favour for a business contact. In return, an out of the blue opportunity came my way through the person I did the favour for. I was the first person that came to mind. This is the power of reciprocity.

Step 6: Build it and they will come

People often give up before they reach the momentum that makes them a network hub in their own right. They are inconsistent or dismiss people as not being of value. I suggest a rule of thumb is to treat everybody you meet like your clients, even your “so-called” competition, as they may be a vital link for a joint venture in the future.

It’s far too easy to assume people in your network as not worth knowing, because they wouldn’t understand your business of have the right kind of contacts. The business people I have met are very intelligent so give them your time! And don’t be a dabbler by attending networking events, gathering cards, connecting on social media sites and then abandon ship. Use your 20:20 vision. See the value in everybody you meet as a chain in your network and a part of your most valuable asset: your contact database.

To truly understand the power of networking, read The Tipping Point by Malcolm Gladwell, who writes brilliantly about Connectors, Mavens and Salespeople. These are the people turning their businesses around, making money and finding great jobs, when the masses are doing things the old way. Be a pioneer in your business or profession and tap in that that rich reservoir. Your best client or the perfect job is only six handshakes away.

Biography
About Shiera O’Brien: Shiera is an expert in sales optimisation. She specialises in consulting and training companies in sales and communication strategies to their clients. She offers training and coaching on business networking, communication skills, presenting and selling excellence. Contact her in Ireland on (086) 399-6601 or shiera@zenithtraining.ie Visit www.zenithtraining.ie for more information.

If you’d like to learn more about building and strengthening your business 100% thru referrals then I highly recommend you attending this special event from a master networker and early Inquisix member, Rick Roberge.

Rick’s program, “By Referral Only” will be offered on Wednesday December 30th, 2009 from noon to 1:30pm US ET. You have two options of attending  – you can be there in-person in Westboro, MA, USA or participate via webinar.

But act fast, as the first 24 people who register for each event using “RR1230” as the discount code will receive a $50 discount when they register.

Pick your option but don’t do nothing!

Join in-person

Join online

Not often that your C-level prospect will tell you how to sell to them.  They’ll hide behind email spam filters and executive assistants but won’t take the time to tell you what you’re doing wrong.  Until this CEO opened up with their automated email reply telling you to do more than just call the vendor hotline at purchasing – a voice mail no one ever picks up.

Top ways to get noticed:

• Let your prospect find you – ie Inbound Marketing
• Get introduced by someone they trust – ie Referrals

Top ways to annoy:

• Constant cold-calls
• Mass emails to entire executive team
• Trying to connect via social media

Thanks to Hubspot for the full article.

Ivan Misner posted on his blog – What Is the Number-One Trait of a Master Networker? this week and I thought, “Absolutely dead-on!”

Nothing frustrates me more than giving a referral to someone and then they DON’T FOLLOW UP. I’ve asked my colleague if they’d accept this referral to and now I have to explain why there was no follow up. This affects my reputation. That’s why Inquisix allows members to rate the referral in both ways – rating how well one party handled the referral and how well the other party gave the referral.

I just ordered this book because that’s what Inquisix members do – they build business relationships that last.

If you’ve already read the book, please share your thoughts in the comments section below.

2 great tips for freeing up a bunch of your time – from the in-box and out-box side of your desk.  First tip is from the out-box side on how to decide whether to respond to an RFP or not.  It’s tricky to tell if it’s a real RFP because they can just take SOOO much time.  What’s worse, coming in second or not having it awarded?  The second tip has really freed up my day to tackle my to-do list instead of read and respond to trivial stuff.

• How To Avoid Deals Where No Vendor Wins – Really enjoyed this post from Geoffrey. In discussions with other sales reps in various industries, there seems to be an uptick in RFPs being issued but two items stand out –
  * RFP decisions are pushed out out out. The company wants the RFP response back in 2 weeks but the decision drags drags drags. Hence the timeliness of Geoffrey’s post
  * RFPs in purgatory. In addition to new RFPs being issued, old ones are getting dusted off and sent out again. When you ask, “Why” the answer boils down to, “We’re getting ready JUST IN CASE…”
  Always a challege for a small company responding to an RFP from a F500 company when there’s no real good understanding (or belief) in whether the RFP’s really real or not.
• Improve Your Connect Rates – Absolutely spot on commentary. Emails are so easy and cheap to send that readers are bombarded by them. Therefore, they don’t read them or at best, scan thru them. I’ve even set up my BB to only accept emails from people who are already in my address book as all other emails get saved on my PC. Guess how many of them are read on my PC?

  Jim’s critical point – call & leave a message pointing out the details in your email. I’ve had a much higher connect rate when I both call (leave a message) and send an email. And as he says, “Persistence is key.”

There were a bunch of quick and valuable reminders and tips on the web this week on improving your sales process.

• Making You Suprisingly Unforgettable To Your Customers – Loved this post – in these days of too many competitors and too many choices offered to our prospects, here’s some great tips make yourself unforgettable. How many of you think of Nat & Natalie Cole when you hear the word, “Unforgettable” like I do?

• Three Tiny Changes That Drive Success – Nice reminders to help get you out of a sales rut. Don’t forget Dale Carnegie’s, “21 Days to Making it a Habit” as you try these changes. Assuming you don’t do them already!

• Quiz: How To Bypass a Gatekeeper – Real good quiz on bypassing the Gatekeeper when you just can’t get in. Interesting decision by Geoffrey on which department you should call into to ask for the transfer. Other ways:
  - try Jigsaw for direct dial # of executive
  - try Inquisix for a referral to the executive by someone they know.

Geoffrey’s idea is manipulative but sometimes you just have to try it. But only after you can’t get an Inquisix referral or JigSaw is not coughing up the direct dial numbe

Why Social Networking Isn’t the Next Best Thing…
… You are! It’s the personal connection—still—that seals the deal.

The Internet, social networking, and other breakthroughs in technology have fundamentally changed the way we do business. New technology drives communications, messaging, and information access at warp speed, and our clients expect immediate contact. This pattern of ever-increasing speed and sophistication not only creates an intensely competitive marketplace, but places further demands on us to act and respond quickly.

The rise of social media sites such as Facebook, Twitter, MySpace, YouTube, and LinkedIn have lured many sales pros into scaling back their personal interactions and relying on social media to surface “qualified leads.”

Get Real

Social media is a powerful tool for three things and three things only:

• Search engine optimization—use your key words and raise your presence on the web
• Find out who people are—learn about a person’s background and your connections
• Find out who people know—look for close connections that you can leverage

Some salespeople tell me they actually get clients through social media. Well, maybe if you have a commodity business. Could it happen? Yes. Do I rely on it? Absolutely not. I only count on what I bring about—through a proactive, intentional, referral strategy with personal introductions.

To Know You Is to Like You

There’s a saying in sales: Clients buy with emotion and justify with fact. If our clients don’t like us or don’t feel comfortable with us, they won’t buy from us. You can wow your clients with technology know-how now and try to win them over later, once they find out you’re honest and reliable. But the reality is, you need people to start liking you within the first few seconds of your relationship. You need to start off on the right foot. Fancy gizmos won’t make that happen. But a trusted referral and a personal connection will.

Eric Schmidt, Chairman and CEO of Google, in his commencement address to the graduating class of the University of Pennsylvania in May 2009, urged college graduates to step away from the virtual world and make human connections. “Turn off your computer. You’re actually going to have to turn off your phone and discover all that is human around us.” (View the commencement address video here)

To Like You Is to Trust You

The most important business decisions are still based on personal relationships. There is significant research about why customers make buying decisions. Bottom line: It’s because they like and trust the salesperson and his organization. Think about it. We’re selling services, investments, systems, products… we’re asking for people’s time and money! Why would they work with someone who hasn’t been referred?

3 Winning Tips

That said, a social media presence is a must-have in today’s world. Start this way:

• Develop a social media strategy —Like a sales plan or a marketing plan, write your social media plan. What is your goal, who is your audience, what do you communicate? Leverage social media as part of your go-to-market strategy. How does your strategy link to your customer’s needs and your business priorities?
• Establish relationships —Take the time to build your personal connections, pick up the phone and talk to people. Just because you have a name in hand, doesn’t mean you have a relationship.
• Communicate useful information — Social sites are not for selling. They are for establishing connections, identifying ways to collaborate, and providing value. What tips can you provide? Link to other sites that you recommend. Be recognized as the expert and build your web presence. Be a resource.

To Trust You Paves the Way

The most energizing and exciting part of our work is the relationships with our clients—the interaction. We enjoy learning about our client’s business and matching our solutions to their needs. In an era dominated by ever-expanding technology and social media pressures, always remember that personal connections, referrals, and earning trust are what count. Yes, it requires brainpower. But isn’t that what we love about what we do? Indeed.

“You can’t have a better tomorrow if you’re thinking about yesterday.” — Charles Kettering

Quote of the Week – Great quote that should strike a chord in any sales rep, manager or business owner bemoaning their poor 2009 sales attainment. Sales people are usually very good at moving on whether the last month was a win or a dud but for anyone needing a reminder, read and internalize this quote. Now go get them!

Since many Inquisix members are also entrepreneurs and business owners (like us), perhaps you’ll find these articles as interesting as we do.  The first article caused a big commotion and discussion amongst the Boston startup crowd.  Isn’t that what good articles do?

• Why Waltham Doesn’t Matter – Finding early stage funding is always challenging for startups and the chances of getting a, “No thanks” are close to 99%. So when a noted Boston Globe business columnist calls the VCs on the carpet, everyone in our community takes notice. I was at a TechCocktail networking event last week and the VCs I spoke to all had lots of comments and head shaking. One was upset that they weren’t mentioned with the “good guys” in Boston. So if Scott was looking to stir the pot, he accomplished it in spades!
• Hey, Boston-area VCs, angels: Loosen up and connect with startups – To continue the commentary from Scott on Waltham VCs and lack of Series A fundings, one of the Angels that rec’d kudos from Scott is offering his suggestions. It’s one all Inquisix members believe in – the referral. “If you can’t/won’t do the deal then referral them to someone you think will.”