Is the online networking you do really so different from good old fashioned networking? Sure, we may use words like ‘social media’, or ‘blogging’, or ‘online communities’, but I think after reading this article, you’ll find that online networking is really just dad’s Oldsmobile with a paint job.
I decided to interview networking expert Chuck Cory, to get a good understanding on how to effectively network offline (meaning in person), to see what the similarities were. I’ve known Chuck for many years, and I would consider him to be a master networker. Chuck is an entrepreneur, and on the side he runs a popular breakfast business networking event in Denver called NewBCI. Let’s see what Chuck has to say about networking.
INTERVIEW EXCERPTS:
Rita: What does the word networking mean to you?
Chuck: Networking, specifically B2B networking to me is a business marketing tool that can be used to build business relationships no matter how many people are present, regardless of the scenario and with various levels of complexity depending upon the circumstances, the culture and the environment in which the networker is marketing.
It means the opportunity to meet new business people and explore the possibilities for mutual satisfaction. By opportunities, I mean the building of a relationship that can result in a sale (which is what most people think that networking is all about), or creating a mutual referral source, or creating an asset.
The sale aspect is fairly clear cut and when people treat a networking opportunity as just a “sales lead”, they are missing a lot of opportunities. Building solid referral sources and mutual win-win situations takes time and work.
An asset can be a product, service or individual that acts as a resource in one way or the other. My lawyer, my CPA, my Banker are all knowledge assets; but my Banker is also a monetary source, and hence an asset.
Rita: What has networking done for your business?
Chuck: Since the facilitation of networking events in one of my major tasks, networking has expanded my business beyond belief. Even if there are only 50 – 60 individuals at an event, each individual there has their own contacts. This has caused my business to expand beyond my capacity to handle it.
By applying the principles of referral networking, New Business Connections (NewBCI) has grown as have my other endeavors. There are a lot of people for instance that are sending people to a NewBCI Breakfast event that I have not talked to for a long time – or for that matter even know.
Rita: Why is it important that people go out and network for their business?
Chuck: Personal contact – plain and simple.Networking should lead to personal contact at the local level, and with the sophisticated tools we have today (including video websites) virtual personal contacts are possible, but it is not the same as human interaction.
Humanitizing the business contact is becoming more and more important as more and more people use technology to conduct their business. Pressing the flesh (offline community activity) may seem less efficient than online community involvement, but it is generally more effective for a lot of people. Online perceptions about an individual can be completely reversed once you meet someone in person.
Personal contact is also still necessary for the human psyche. While transactions can be started, processed and completed completely online – human interaction is the best way to start and maintain a business relationship. At least in my opinion.
Rita: How is offline networking similar to online networking?
Chuck: I define offline networking as those networking activities that do not occur on the Internet, from Chambers of Commerce, to business exchange leads groups, to BNI, NewBCI or One Business Connections for example. Online communities consist of Ryze, Linkedin, Fastpitch and others. Wikepdia has a tremendous list: List of social networking websites. Doing a wikepdia search on Online_communities will reveal a well organized virtual list of online communities.
To answer your question, in the beginning, you do not know who you are dealing with. Through either kind of networking, you are gathering perceptions, facts, and nuances about each other.
In either case, you need to know what you are going to do before you get to the networking event or online community. Preparation is key, and your goals should be reviewed before each activity.
I’m sure you see people who go out with the intention of networking all the time, who ultimately do a terrible job of it.
Rita: Give us some examples of what you commonly see out there.
Chuck: There are more examples of bad networking than of good – and the definition of bad is mainly in the eye of the beholder. If your intent is to use networking to gather a lot of sales leads and then use a systematic follow up plan (one that had been thought out before the event), then that may just be your style. I disagree with this style, but if it is handled in a professional manner and permission to follow up is obtained, it may work for some. This style is used more by people who do not know how to effectively network and build business relationships. We have all seen the impatient business card stuffer – the one whose eyes shift constantly, business card at the ready, only paying attention when they think they are registering a “pain” point, so they can show you how they can “solve” your problem. They then ask only superficial questions and then launch into a elevator pitch right out of the can to “convince” you that they have a solution for all your ills.
There are the more sophisticated, skillful bad networkers who get you excited about how they can help you at the beginning of your conversation with them, but upon being queried as to how they can “actually” help – end up selling you their product or service – or worse yet will only buy from you if you buy from them. Then they will build a “relationship” with you. This group is worse than the first because they give business relationships, networking and referral based marketing a bad name.
Rita: What do you think they should be doing differently?
Chuck: LISTENING! Genuinely caring about the other person – building a relationship – or not. You may not be able to connect with the other person at any level and you need to develop the skill to know when to hold ‘em and when to fold ‘em. Throwing good time after bad time is a waste of time. Disengaging politely takes experience and patience.
Rita: Explain the concept of Pay it Forward
Chuck: Pay it forward or paying it forward refers to repaying the good deeds one has received by doing good things for other unrelated people.
In Ryan Hyde’s book and movie it is described as an obligation to do three good deeds for others in repayment of a good deed that one receives, and that such good deeds should be things that the person cannot accomplish on their own. In this way, the need to help each other can spread exponentially through society, creating a social movement with the hopes of making the world a better place.
It is also sometimes described as being “good for a favor”, meaning a willingness to help others (even strangers) on the expectation that it will all come back around in the end.
When I talked to you in the past, having not studied this book, seen the movie or read the hype, I meant that my “pay it forward” philosophy was based on a couple of philosophies. One, that “what goes around comes around” IF YOU JUST DO GOOD THINGS FOR OTHER PEOPLE, GOOD THINGS WILL HAPPEN TO YOU! If you do to others what you would have them do to you, your life will be more fulfilling. My philosophy does is not or was not based on others doing something good for me. I have a lot of people to “pay back”; however, since that is not possible in all cases, you could say I was paying back by paying forward all the time.
Rita: So to sum up, what are the top 5 tips you would give a new networker.
Chuck: Have a plan, set goals, be specific but flexible, before each networking event. How many people will you try to listen to? Who are you looking to partner with, etc. Networking is work – it should be fun – but it is work!
Buy Bob Burg’s “Endless Referral” book, or better yet get his CD Set “Endless Referrals” and learn how to work a room. Or any other “networking Gurus” plan on how to work a room. Practice this before hand and modify it to meet your needs, but don’t just go to an event, spread your cards and pray. Find the centers of influence, learn how to approach them, maximize your time.
Listen, listen, listen – find opportunities for others and they will find them for you. Show a genuine interest in the other person. If, for some reason something about them turns you off, move on, graciously to be sure, but move on.
Be yourself – learn from experience – and watch what others do.
Speak slowly, distinctly and passionately about what you do.
I found the interview with Chuck to be fascinating, in that online networking is actually very similar to offline networking. The thoughts that came to mind for me were:
The purpose of networking both online and offline are basically the same for most business people. The goal is to develop contacts to build mutually beneficial relationships.
I fully agree with Chuck in that we need to humanitize relationships, whether they are created online or offline. If you meet someone online that you really want to network with, get to know that person, listen, and be genuine.
When Chuck talked about the systemized approach to following up on leads ( autoresponders, bulk emails, etc.), I thought about how we really need to further define online ‘networking’, as it is not the same as online ‘marketing’. Online networking is about building mutually beneficial relationships. Online marketing is more about the sales process. I’m sure many of you are on emails lists, and receiving daily or weekly emails from marketers that add a personal ‘flair’ to their message. It might sound personal, but it’s typically a one way street. That marketer does not even know who you are. He knows nothing about you, other than that you may be a potential client. You are part of a list. It’s not networking. They are not going to make a personal introduction for you to their network.
It’s important to have a plan when you network online too. Which online social networks should you network in? Who do you want to meet? Who are the centers of influence?
When Chuck mentioned some examples of bad networking, such as the person spewing out that elevator pitch and passing business cards to every person they see, I immediately thought of those folks who try to spam online communities. When you see a post of “This is my product, please buy from me,” it is pretty unattractive. It will turn people off. Instead, it might be better to provide helpful information, and attract people to you instead through your signature and tagline. You want to stay on topic to other people’s discussions, and comment in a way that adds value to their conversation.
I love the pay it forward concept. It works online too. Look for opportunities to help other people. Things come back around in their own way.
Whether networking online or offline, good networking comes down to building mutually beneficial relationships. It’s all about listening, learning, and being genuine.
