Posts Tagged ‘Relationships’

This week is International Networking Week and, as has happened now for the last 5 years, BNI celebrate big time.

Here in n Hampshire in the UK, we celebrate with a ‘Big Breakfast’ where members from a number of Chapters get together to mark the occasion with a speed networking event.

This morning we had 116 people get together to network with one another and to start the process of building new relationships with new contacts, as well as meeting up with some old friends that we don’t see so often.  Plus, of course, we have a few visitors that come along just to see what goes on in BNI.

As in previous years, the event was a great success.  We’ve now got the process of managing the speed networking down to a fine art and we have a terrific formula that ensures that everyone gets to present their 60 second presentation to every other person in the room in small groups.

If you’re running a large event and would like to know how to go about it, get in touch and I’ll be happy to share it with you.

You might also like to check out Dr Ivan Misner’s video promoting International Networking Week in 2011.

To take a quick re-cap. In Part 1, we looked at Visibility in our relationship and the 3 steps on the ladder that we need to go through whilst developing the  stage in the relationships that we have.

The first step is Awareness which is that time when we first come into contact with someone, which can happen in any number of different ways.

Familiarity is Step 2. Now we’re at a stage in the relationship where people start to recognise us or our name.   And vice versa.

As people start to Know & Like you, you move on to Step 3. Just remember that knowing you is not, usually, enough.  People need to like you if you want to move up to the next Step.

As people start to develop confidence in you you start to develop credibility and move up to Step 4.  Inspiring people’s confidence in us is what it’s all about.  And the activities we need to engage in are the same ones we need to be engaging in to move up onto Step 5 where people develop trust in you.  It’s simply a process where people start to trust you as their confidence grows.

So. lets now move on to the final two Steps on the relationship ladder.  Those two where we start to move into the realms of creating Profitabilty from the relationship.

Step 6

Once you’ve fully established your Credibility, once the Confidence and the Trust that people have in you (and in what you do) grows to a certain level, they will start to develop a degree of Reliance upon you.  At this point you’ve now climbed up on to the 6^th rung on the Relationship Ladder.

Every step on the ladder is important but once you’ve got up to the Reliance step it’s essential that you work to maintain everything that you’ve now achieved and consolidate your position.

When people start to develop Reliance on you, you need to demonstrate that their Reliance is justified so that it continues to develop.  Consolidation is the name of the game here and you achieve that by doing more of the same.  Every step you’ve taken, everything you’ve given, every way that you’ve found to add value to the relationship, so far, you simply need to do more of.

When people become Reliant on you it means that, if they have a need for your product or service themselves, they wouldn’t consider using anyone else, at all.  You would be their first, and probably, only port of call.

It also means that they would be highly likely to refer you in the event that someone asked if they knew anyone that does what you do.  They have confidence in you and they trust you and they would refer you to the most important people in their personal contact sphere.  However, on this Step of the relationship ladder, their referrals would tend to be reactive ones.  That is, they will refer you when the subject of your product or service comes up.

Step 7

The final Step on the relationship ladder, the pinnacle that we all should be aiming for, is when people become a Raving Fan, both of you, and of what you do.  This is when everything that you’ve been working for comes together.

You’ve moved up the ladder from Awareness to Familiarity and then on to Knowing & Liking.  You’ve established Confidence which has developed into Trust and you’ve moved beyond the level of Reliance.

So, what differentiates a Raving Fan from someone who’s Reliant on you?

Well, a Raving Fan doesn’t just refer you should the occasion arrive, they proactively look to refer you.

Being proactive about referring you means that they actively seek out opportunities to refer their contacts to you.  They want to help you get as much business as possible and will be proactively looking for opportunities to create a referral for you.

For example, let’s say that you supply and install hardwood flooring.  Someone that’s reliant on you is talking with a contact about the fact that they’re having some work done on their house.  If that contact happens to mention the fact that they want a hardwood floor as part of the work they’re having done, you will be referred to them.  However, if they don’t mention the flooring, you won’t be.

If that person we’re a raving fan they would start asking questions about the work being done and even ask, directly, what they were planning to do with the flooring.  They ask these questions because they’re trying to create a referral for you at every opportunity.

This is the pinnacle, the top Step on the relationship ladder.  It’s from the level of this Step that you will gain the maximum profitability from any relationship.  Of course, the maximum profitability is gained when each of you are on the others’ top Step and the relationship becomes a real win – win scenario.

And there we have it; 7 Steps to a Profitable Relationship.  It’s the way we move through the Visibility and Credibility stages to create Profitability from our relationships.  But there are some things that you need to remember;

• Building a relationship requires an investment of time.  It doesn’t just happen.
• Whatever you give to help build a relationship must be given without any kind of attachment.  Without any expectation of getting anything in return.
• You have control over how long it takes to build a relationship but it does take two of you to have one – and the Know & Like part is very important.
• Never force any part of the process.  Doing so will only result in you dropping down the ladder rather than moving up.
• It’s far easier to move down the ladder than it is to move up it.
• If you do happen to move down the relationship ladder, it will probably take more time to move back up than it originally did.
• If you always do what you say you’re going to do, you’re unlikely to slip down.
• Whatever you do, make it fun.

Finally, remember that everyone you know has a ladder for you and that you have a ladder for everyone you know.  You should always be thinking about where you want to be on someones ladder, where you actually are on their ladder and on what you need to do in order to move up to where you want to be.  And if you’re not sure, try sharing this information with them and then asking them.

Here’s wishing you some exceptionally profitable relationships.

Steve Bimpson

In Part 1, we talked about the 3 steps on the ladder that we go through whilst developing Visibility in the relationships that we have.

The first step is Awareness, that moment in time when people first come into contact with us.  Either when they meet us in person or when they hear about us, in whatever way that may happen.

Step 2 is Familiarity.  This is the point when people start to recognise you or your name.  Interestingly, you don’t have to actually meet people to get on to this second step.

Step 3 is when people start to Know & Like you.  This is when the relationship is starting to develop quite nicely, ready to move it on to the next phase.

The next phase is all about building Credibility and the steps we need to move through in order to gain credibility in our relationships.

Steps 4 & 5

You know when you’re on the 4^th and then 5th ‘rungs’ on someone’s relationship ladder when they start to display a level of Confidence and then Trust, both in you and in what you do.  This is a very important development in your relationship and moves you in to the realms of having Credibility in this particular relationship.

People are very unlikely to refer a personal contact to anyone that they don’t see as being credible.  At least, not without making that referral with lots and lots of qualification and, effectively, removing any endorsement of the person being referred to their contact.

Given that the type of referrals we all look for are those that are accompanied by a powerful endorsement of us, and of what we do.  Having a high level of credibility is essential if we want to achieve this.

So what are some of the things that you can do to make sure that people develop Confidence and then Trust in you?

• Keep developing the relationship – and develop it socially, as well as from a business perspective.  The more that people like you, the more confidence they will have in you and the more inclined they’ll be to trust you.
• If you want to be trusted, be trusting.  Personally, I always assume that I can trust people, at least to some degree, from the moment I meet them.  I may not show them a major level of trust to begin with but I adjust that level based on results – and people can go down my scale of trust much faster than they can move up it.  Of course, if they do move down the scale, they have to work far, far harder to move back up it, again.
• One way of showing confidence and  trust is by giving referrals to the people that you would like to have refer to you.  It’s one way that we can invoke the Law of Reciprocity.  It may be that you qualify those referrals in the eyes of your contacts.  i.e. Tell your contact that you don’t know the person you’re referring them to, that well, and that you aren’t personally familiar with their work so can’t endorse it.  On those occasions where your contact may have to resort to Yellow Pages or Google, talking to someone that’s known, even just a little, is no bad thing.  They should just be considered on an equal footing with those people from the directories but the great thing is that you have given something in your new relationship.
• Always make sure that you do what you say you’re going to do, no matter how small that thing may be and no matter whether it’s a business or a personal undertaking.  If you don’t do what you say you say you will do, it will affect the way that you are perceived.
• In a similar vein, don’t promise to do something if you can’t do it well.  Rather, refer someone that can do it well.  The fact that you’d be willing to do something badly wouldn’t reflect well on you.
• Make sure that you have a high level of knowledge and skill in your field so that, whenever you have occasion to demonstrate that knowledge or skill, you can do so, effectively.
• Give knowledge, skill, information and introductions whenever you can.  Doing all of these things will help build your credibility, particularly, if you’ve gone out of your way to help and don’t expect anything in return.  So, do go out of your way to help and don’t expect anything in return.  If you do that, everything else takes care of itself.
• In your business, always deliver your product or service to the highest standards.  Always focus on looking after your clients and making them feel valued.  Don’t give anyone any cause for complaint, no matter what lengths you need to go to.  Why?  Because people that are just getting to know you will ask their contacts about you – and you never know who those contacts may be.  At the end of the day, if you want to get referrals, you need to be referable.

Of course, there are many other things that you can do.  Just use your creativity and I’m sure that you’ll come up with things that I haven’t thought of.  And if these things also happen to relate to your business in some way, that would be an added benefit.

Bear in mind that it does take time to gain credibility and, as everyone is different, some people will require more time than others.  But you can affect the time taken by investing more of your own time in to doing more of those things that will build the relationship.

As you do more of these things, so you will move up to Step 4, Confidence and then to Step 5, Trust.

Never forget that you’re in control of the process involved in moving up this relationship ladder.  You simply have to take action and engage in those activities that will build the relationship.

From steps 1 to 3 we built Visibility in our relationship.  Having moved from step 3 to steps 4 & 5  we’ve now firmly established our Credibility.

Tune in to part 3 of the 7 Steps to a Profitable Relationship to find out about the last two steps that will bring us the Profitability that we’ve been working towards.

Steve Bimpson

Networking in Business

Networking in business is something that you should be doing  on a regular basis.  As discussed elsewhere, there are a variety of different networking events you can go to but you should have a balanced approach.  There are more formal, structured networking events that usually involve membership and take place quite frequently, less formal, less frequent events and one off events.

If you’re going to any networking event, particularly a ‘one-off’ event, you should always plan your approach.  Depending on the nature of the event, there may be some additional things that you need to do but, in the main, these is are 6 key things that I would recommend.

Firstly – You need to take your “Networking Toolkit”.  This consists of;
•    A generous supply of business cards – always carry a spare box or two in the car as a backup.
•    Take a nice pen and something to write on, just in case you need to make any notes.
•    Take a Name Badge.  If the event you’re going to doesn’t provide them, always have one of your own to hand.  Make sure your name is large and prominent so that it can easily be read at a distance.  People will approach you, quite readily, if they can easily read your name.
•    Make sure that you have prepared your ‘Elevator Pitch’ or introduction.  You know you’ve got this right if people ask you a question after you’ve delivered it.
•    Prepare some great networking questions.
•    And don’t forget to take a Great Attitude!   Attitude isn’t everything  ……….  but it does come close.

This is all you need to take with you.  Don’t take any promotional literature, you won’t need it.  Remember, the aim of networking is not to launch into a sales pitch but to make useful contacts.  

Secondly – Have a plan and set yourself one or two simple objectives.  Think about the contacts you are actually looking for.  You may make contacts in the following areas;
•    Potential customers – I know I shouldn’t need to say it but I’m going to: Don’t Sell To The Room!  Remember that you’re networking not selling.  Relationships come first.
•    Potential suppliers – How much money can you save by changing suppliers?
•    People with whom you could create a strategic alliance that benefits both of you.
•    Potential referrers for your business.
Identify what types of business are your Prime Target before you before you go and decide how many contacts you want to make and in which of the areas, listed above.  Make sure that you get everyone’s business cards.

Thirdly – Always get there early.  I’ve made some really good contacts by arriving early and it’s easier to get talking to someone when there are fewer people around.  You’ll also get to meet the hosts, which is always a good thing.  In fact, if you’re very early, offer to help out with the final preparations.   It’s a great way to give and will put the Law of Reciprocity to work.

Don’t forget, of course, that you’re going there to network.  If you get there part way through the event you’ve lost some of the opportunity open to you.  Remember, it’s called network not net bugger about and you do need to put the time in!

Meet & Greet

Fourth – Make a great first impression by smiling, making good eye contact and giving a good handshake.  And remember, you have two ears and one mouth.  Make sure that you use them in that proportion.

Fifth – Work the room.  Whatever you do, don’t allow yourself to get too caught up with just one or two people.  Keep circulating until you’ve met your objectives.

Finally – Follow Up.  We’ve all heard that the fortune is in the follow up.  So, follow up promptly and follow up with everyone you’ve spoken to.  In particular, you need to follow up with those on your Prime target list.   The aim at this point is to do something to move the relationship forward.  Arrange to meet them for a coffee, or something, and start building those relationships.  Your focus should always be on how you can help them.

Networking is great fun so, enjoy yourself.

Steve Bimpson

If we want to build relationships that result in us receiving referrals (Referral Networking) then we have to be prepared to give referrals or, at least, give something of true value to those people that we are in these relationships with.  After all, it’s a little arrogant of us to expect others to give us something if we’re not prepared to give something of equal value to them.

In fact, we have to give first, sometimes over and over and over again, to create reciprocity in others.  Particularly, where we have instigated the building of this relationship and where we are interested in the relationship delivering the kind of result we would like it to.

Whether we’ve instigated the relationship or not, if it’s important to us,  then there is something that we need to understand and it’s a real contradiction in terms that can take a bit of getting our head around.

Even though we’ve built this relationship with a view to generating referrals for our own business we mustn’t approach the relationship in this way.  When we take into account the “Universal Laws of Success in Networking” then we start to realise that building these relationships are all about what we give and not about what we receive.

For instance, the Law of Cause and Effect is all about sewing and reaping, about every effect having a cause.  Therefore, if we want to receive something then there has to be a cause first.

We have to sew the seeds and then nurture them.  That’s the fundamental Law of the Universe.

The Law of Attraction, as discussed at length in “The Secret”, talks about us attracting into our lives the people, places and circumstances that are aligned with our thoughts.

If we’re thinking about the referrals that we want to recieve, we will attract into our lives other people that are thinking the same way.  If all parties in the relationship are thinking about what they can take, where will it come from?

The Law of Reciprocity states that people want to pay you back for what you do for them or for what you give to them.  So by giving something of value or doing something of value for someone, they will have a natural desire to want to reciprocate.

If all we are doing is waiting for what we want from the relationship (referrals) then the other party will, almost certainly, reciprocate by doing exactly the same – waiting!

The Law of Compensation says that whatever you put in, you will get out.  You will always be compensated in full for whatever you do.

If we don’t “do” anything in this relationship, what level of compensation are we going to receive?

Whether we like to hear it or not, we really don’t get something for nothing and there are clues to this all around us.  Most of us simply don’t listen, or just don’t understand.   So, for the sake of clarity, let’s define exactly what the true nature of giving is or, at least, should be.

• When we give, we are taking an action of some kind.  This action is a “cause” and it will produce an “effect”.   Trust me when I tell you this and trust that it will come back to you.  Just make sure that what you give is of good intention and good value to the recipient.
• We must give without attachment, condition or expectation of what will come in return.  In keeping with the Law of Attraction the attachment, condition or expectation will have a wholly negative affect on the giving.  At best this will mean that anything we receive will come with its’ own attachment, condition or expectation.  At worst the act of giving will be completely negated.
• Giving should be a habit.  It’s something that we should practice all of the time and in all aspects of our life.  Certainly, not just in our business – and not just because we’re trying to generate referrals.  If giving isn’t something that we do as a matter of course, then the power that comes from giving, will be restricted.
• If we stop giving it’s usually to wait to see what comes of what we’ve already given.  This creates an attachment, condition or expectation and it will have a negative effect on what you receive.  If you stop giving, you’ll also stop the flow of receiving because the two are inextricably linked.
• Understand that what you receive may not come from where you would expect.  In fact, if you’re expecting it to come from somewhere, you’re creating an expectation, or condition, linked to your act of giving.  Just trust that you will sew what you reap.  That what goes around, comes around.  And don’t forget that it usually comes back to you magnified!

The fundamental aim of networking-in-business.com is to help everyone understand how networking really works.  To help them realise that success in networking starts and finishes with what we give and not what we receive.

If everyone out there networking simply waited to see what business/referrals they would get, they’d all be waiting a very, very long time.

Don’t go making that most fundamental of errors, yourself.  Give freely, without attachment, and trust in the Universal Laws.  They ONLY work!!

Steve Bimpson

Just in case you didn’t know, this week was International Networking Week and, yesterday, I attended a BNI “Big Breakfast” event which was held to celebrate the occasion.  The event was open to members of all of the BNI chapters in Hampshire in the UK, as well as, to their guests.

The goal of International Networking Week is to celebrate the key role that networking plays in the development and success of businesses across the world.   It’s the wish of Dr. Ivan Misner, the founder of BNI, that all members should reap the benefits of participating in this celebration of networking.

Rather than my trying to explain to you exactly what it’s all about, I thought that I’d let Dr Misner tell you himself;

Back to the “Big Breakfast”.

Well over 100 members and their visitors took advantage of the opportunity to experience Speed Networking the BNI way.  After Dr Misners’ introduction video, shown above,  attendees were split into small groups.  Each group had a facilitator and each member of the group was given a number.  Then, after everyone performed a 60 second presentation to their group, a simple formula was used which gave each individual the number of the next group they should move on to.

The system worked perfectly and, after a number of group changes (13 to be precise), interspersed with a break for breakfast and another for liquid refreshments, everyone got to deliver their 60 second presentation to everyone else.  And, of course, exchange business cards.

You couldn’t help but be impressed with how well the system worked.  The aim being to briefly meet everyone and get their business cards so that you can then follow up at a later date and start to build relationships with those people relevant to you.

I had the opportunity to talk to a number of people before they left and there was an overwhelming ‘thumbs up’ for the morning.  Everyone I spoke to talked about the fact that they had made some really good contacts and had thoroughly enjoyed the whole experience.  Despite the fact that delivering 14 x 60 second presentations had taken its toll, leaving many a little worn out – but still smiling.

Steve Bimpson