Lunch and Learn

Networking Tips & Guidelines

Have you been to a networking meeting and heard people giving boring, repetitive 60-second presentations that you totally tune out?

Have you ever wondered why you are not getting referrals?

Develop a Catchy 60-Second Elevator Speech... When you are asked by a stranger, "What Do You Do?" What Do You Say?

Let's assume you belong to a networking group, where you are expected to give a 60-second presentation.

Your elevator speech is a 60-second presentation that is used when presenting to a person or group that knows little or nothing about you. Your main goal is to get others to refer you business.

Three Common Mistakes in a 60-Second Presentation:

1. Assuming everyone is eagerly waiting to hear your 60-second presentation. Most people are thinking about their own 60-second presentation.

2. Your networking partners understand your business automatically and need little or no education from you. Most people need more training about your business.

3. They already trust you, so they will feel comfortable referring you business. What have you done to build trust with the others in the room?

Three Things You Need to Prepared for Before Designing Your 60-Second Presentation:

1. Who is your ideal client? What would be a qualified referral for you? Is it clear to the person(s) you are speaking to? Your main focus should be here!

2. Who is your ideal referral partner? This person(s) may not be your ideal client, but would make a great referral partner.

3. What is your irresistible offer? This is one way to build immediate interest in what you have to sell or promote.

Three Keys to a Dynamic 60-Second Presentation:

1st Key Component - Get People's Attention: Remember, most people are thinking about their next appointment, or their own 60-second presentation. If you can't get good at getting their attention, they are not going to listen to you anyway, so how do you get people to listen up?

The "Wake-Up Call" and introduction. The first sentence of your presentation needs to be an attention grabber. Some people in the room may be half asleep, or they have just heard 7-8 other boring 60-second presentations. How likely are they to listen to you? What do you do to grab their attention? Shout? Clap? Ring a bell? Use a prop?

Make a Shocking Statement.

EXAMPLE: "I've just read that you are more than twice as likely to wind up in court than you are to winding up in the hospital or emergency room."

Ask a Question.

EXAMPLE: "How many people in this room have ever lost a security deposit, or have signed a contract or document that you were unsure about?"

Make Them Laugh.

Tell a joke or one-liner. Make fun of a serious situation or headline story that is not so serious in nature.

Use the first 10-seconds of your presentation as your attention grabber. It's not critical to start with your name, instead, state something of interest first, and close with your name and company name.

2nd Key Component - Answer one or all three of the following questions:

A. Why should your prospect(s) buy your product or service? If possible, use a story or testimonial to tell about your product or service.

B. Why should they buy from you? What is your unique selling proposition? What is the value you are offering?

C. Why should they buy now? Is their a reason or specific offer someone should know about?

3rd Key Component - Call to Action.

At the end of you presentation, ask for help. How can we help you? What specifically are you looking for them to do? Are you looking for an introduction to a specific referral partner? Are you asking for people to watch a video about your product or service? Are you asking the group to ask their neighbors if they are happy with "XYZ?" Are you asking for something specific? "Please ask the next five people you meet if they are suffering from back pain. And offer my card." "If you know any business owners, please ask two of them if they need help with collecting on past due receivables." "Do you know anyone who..." BOTTOM LINE, ASK!

BONUS: Tag Lines

End your 60-second presentation with a tag line, your name & company name, or a hook that someone can remember you or your business by.

EXAMPLES: "We provide the skills, so you can pay the bills." "If you don't know your rights, you don't have any." "We provide the life-events legal plan." "90% of all accidents happen in the home, so travel!" (More ideas can be found at http://contactsphere.com/html/taglines.html)

Final Thought:

Our networking club will only succeed with dedication from all members. We are looking for energetic people that will make this referring network grow. Word of Mouth is going to be crucial in the success of our local chapters. Ask other's to join, the benefits will be shown at each meeting.

DON'T FORGET: Bring lots of business cards, and bring a friend! Thanks for your continued support!

MORE NETWORKING TIPS...

Let's assume that you are planning to attend a networking event at your local chamber of commerce. What should you plan to achieve while there? How should you prepare to maximize your effectiveness?

Defining Your Goals...

First define your goals. Following are some suggestions:

Make a positive impression on everyone you meet.

Identify individuals who can help you achieve one of your business or career objectives, including the following:

Find prospects for your products or services.
Meet those who are leaders within your community.
Find providers of products or services to help your or your clients.
Find individuals who might be good referral partners.
Meet individuals who might further your career.
Meet individuals who might be advisors, counselors or mentors

Arrange follow up appointments, call or some other form of contact with those who are of interest to you.

Networking events are not the place to close deals. They are an opportunity to make an initial contact and to begin a relationship. Those who attend these events with the attitude that they will walk away with signed contracts tend to be overly aggressive and to offend many they meet. This is not the place for hard sell techniques.

Remember that these are essentially social events, although it is certainly understood that the ultimate purpose of the socializing is to further business interests of some sort.

Prepare for the Event...

Your primary goal is to make a positive impression on everyone you meet. Therefore you must look and act professionally.

Dress appropriately. Events may be casual or formal, so adjust to the circumstances.
Make sure you have an ample supply of professionally prepared business cards and a pen so you can take notes.
Be prepared to share information about your business in a clear and concise manner.
Have your calendar so you can schedule appointments, follow up calls, etc..
You may take a coupon or small handout, but be careful not to pass out bulky materials that will just be jettisoned at the first opportunity.
Bring a positive attitude and a friendly smile.

Have Your Goals And Targets Clearly In Mind...

Following are some questions you might want to spend a little time considering before you go to the event.

Who will be at this event? Based upon your knowledge of the group and the event, what types of individuals will be there?
Who among them are individuals with whom you would like to talk? Which types of participants are prospects to help achieve your goals and objectives? Are there specific individuals with whom you would like to talk?
What information will you convey to them? Is there a particular product or service you should promote? Is there a special or special event you want to emphasize? How will you approach community leaders? What will you say to potential referral partners?
What qualifying questions will you ask? How will you determine if suspects (those who match your customer profile) are prospects (actually have a need for your products or services)? What questions will you ask potential referral partners to qualify them?
What process will you use to move those of interest along to the desired result? Will you make an appointment? Will you call to make an appointment? Will you send an e-mail? Will you send additional information? How will you keep track of the follow up steps you have promised to make?

If you know the answers to these questions, you will be ready to maximize your effectiveness at your next networking event. Knowing your objectives and having a planned approach to achieving them is half the battle. Arrive early if you can. Introduce yourself to the host of the event and ask for their advice on achieving your goals.

Each encounter at a networking event has six elements. Each is described below.

STEP ONE - ENGAGEMENT - GETTING THEIR ATTENTION

Remember - You all came to meet people, so there is no reason to be reticent about approaching anyone!
               Make eye contact
               Smile
               Extend your hand as you step forward and say "Hello!"

STEP TWO - INTRODUCTION AND INQUIRY

Greeting - use their name if visible (place your name tag on your right side)
Firm Hand Shake
Offer a Card to Get a Card -so you are in control of the follow up process.
Ask a Question or Two About Them and Show Genuine Interest.
- What's new and exciting in your business, John?
- What do you do at _______, John.
- What are the major benefits you provide your customers, John.
- What makes you or your company better than the competition, John?
- As I meet people tonight, how can I tell if they would be a good prospect for you?

STEP THREE - YOUR PRESENTATION

State clearly and concisely (60 seconds or less) what you do, what benefits you offer and why you are better than your competition.

What You Do - Most people incorrectly assume that others understand their profession. Start with a simple statement and then expand on it. Avoid jargon.
What Benefits You Offer - They don't really care what you do unless they understand how what you do can benefit them.
What Makes You Better - Why should someone deal with you rather than a competitor?

STEP FOUR - INTEREST ASSESSMENT
Decide whether the person to whom you are talking represents an opportunity you would like to pursue. Ask yourself these questions:

Can their products or services benefit you or your customers?
Are they interested in your products or services? Use a qualifying question to uncover the opportunity.
Are they a potential referral partner - someone who deals with the same types of customers you do and can regularly send you referrals?
Are they a potential strategic partner - have complementary products or services and/or serve the same market you do?
Are they an influential person you would like to know better?

STEP FIVE - ARRANGE A FOLLOW-UP

Having made a determination that you are interested in further contact with the person with whom you are talking, you must now arrange the details of a follow up action.

Establish Control by Being the Aggressor
Reconfirm the Value of Further Contact or State Your Desire for Further Interaction
Offer Options or Suggest the Next Step
Make a note of the Action to Be Taken

STEP SIX - EXITING THE CONVERSATION
Usually its easy to move on but sometimes you need an exit line. Don't just walk away or be rude. Always make the last impression a positive one. Normal Situation - Leave a positive impression by exiting smoothly. Example: "It's been a pleasure talking with you, John, best of luck with your new job." In a group: "Nice meeting everyone, hope to see you all again soon." Exit Lines for Difficult Situations: When they won't stop talking and you're ready to move on, try one of these lines. Excuse me for interrupting, John, but . . .

I just spotted someone I've been trying to reach for a week. Would you excuse me?
I only have a few minutes before I have to go and there are several others with whom I wanted to talk. Would you excuse me. It was a pleasure meeting you!

IN CONCLUSION

If you go to a networking event with goals in mind and a plan to achieve those goals, you will find that your time is much more productively spent. Don't wander aimlessly, chatting with anyone you meet about subjects that are irrelevant to your business. Know who you want to target, put each person with whom you talk at ease by asking about them, clearly and concisely explain what you do, assess your level of interest and arrange the next step or terminate the conversation politely and move on.

PARTNER RELATIONSHIPS:

As with any relationship, referral partner relationships require effort to establish and maintain. They require trust in each other and a true commitment to work together that is evidenced in real effort on behalf of one another. The five essential ingredients for an effective referral partner relationship are described below.

Trust - Without trust in one another, relationships cannot exist. Referral and strategic partner relationships require a special kind of trust, because both parties rely on each other to treat those referred properly and to maintain high ethical standards. If I am going to send my best customers, friends and family members to you, I have to believe that you will treat them fairly and honestly. If something goes wrong in the transaction, I have to believe that you will make it right, no matter what the cost. You must have the same trust in me and if this trust is violated, the relationship will either be badly damaged or cease to exist. The referrals will stop. The collaborative mutual support will no longer be available.

Commitment - The second essential ingredient for an effective referral or strategic partner relationship is commitment. Both parties must make a commitment to help each other in the ways you have mutually agreed upon. The level of commitment must be fair and balanced.

Ability To Generate Referrals - Both referral partners must have the skills to recognize and capture referrals. Both must also have the exposure to prospects that creates the opportunity for referrals.

There must be relative balance in the value of referrals shared by referral partners. Those who enter into agreements of this type must either be in relatively equal positions in terms of ability to generate referrals for each other or must find some way to compensate the individual in the relationship that is more productive. The ideal is to have a balance in the value of the relationship to both partners, so it is not necessary to identify an additional means of compensation.

Knowledge Of Each Other's Business - Referral partners cannot effectively promote each other without learning about each other's business. The knowledge that is necessary falls into five categories:

What You Do - Referrals partners must understand the products and services offered by each other in order to promote them.

What Benefits You Offer - Prospects don't care what you do if they don't understand how it will benefit them. The same is true for your referral partners. You must understand the benefits provided by your referral partners to be able to promote their products or services for them.

Who Your Clients Are and Who would be a good referral partner - If a referral partner is to develop leads for you, he or she needs to know what types of individuals are you are seeking to sell to or build relationships with. For whom should they be looking? Be specific.

What Makes You Unique - Your referral partners need to know why you are better than the competition. What makes you stand out? Why should prospects agree to have you call them? This information is often referred to as your unique selling proposition, or USP.

What Questions To Ask To Uncover Leads - Your referral partners want to help you, but they don't know how to uncover leads for you. You can help them tremendously by telling them what questions they need to ask to uncover a lead for you. You should know what these questions are because you should be asking them of your prospects yourself.

Fair and Balance Results - All the discussions, planning and training mean nothing if referral partners don't actually put them into action. Whether it is the principals in the organization or those who interface with prospects, someone or some group of individuals has to actually make an effort to generate leads for referral partners. The greater the commitment referral partners make to each other, the stronger the effort and more satisfying the results. Results must be relatively balanced or the partnership will dissolve. Effective referral partner relationships require trust, commitment, referral generation ability, knowledge of each others businesses, and fair and balanced results.