Hispanic Enterprise - June/July 2008 - (Page 64)

* MANAGING A simple example: Imagine you ﬁnd out someone needs something and you decide to help, even though what the person needs is not your product. A few weeks later you need a referral, and you realize the person you helped can give it to you. You call. Will the person answer? “Of course!” says Misner. “If you want business, give business.” According to Misner, adding technology to this old-school formula doesn’t change things much, so if you think your many online connections somehow mean you’re exempt from building trust and relationships, think again. Making connections online is “not a panacea,” says Misner, and Florencia Pettigrew agrees. Pettigrew is the international marketing manager at Linkedin, an online network that allows professionals to build a proﬁle and take their real-life connections online. Linkedin’s focus on connections allows users to see who knows whom and even to request a virtual introduction to a coveted contact, as long as the person making the introduction is connected to both parties. Pettigrew explains that this feature, like many of the services offered by Linkedin, mirrors in-person interactions. “When you get introduced to someone by people they know, they’re more receptive and more willing to help,” she says. Which is why Linkedin emphasizes the importance of connecting only with people you know; otherwise, your “network” becomes simply a collection of names. Business networking sites such as Linkedin do pose a signiﬁcant advantage, however. “It’s a great way to keep in touch with your contacts without engaging in more time-consuming activities,” Pettigrew says. And besides providing information about people, Linkedin in particular is also a “knowledge network,” as professionals can ask questions of each other and share information about events. But, as with “real life” interactions, the key to online networking is never to lose sight of the importance of relationships, and, as Pettigrew puts it, “to use a little bit of common sense.” AS MEMBERS OF THIS TECH-SAVVY, HIGHLY MOBILE GENERATION ACUMMULATE CONTACTS, THE NUMBER OF RELATIONSHIPS TO BE NURTURED HAS EXPLODED. Networking links Based on advice from BNI’s Ivan Misner and Linkedin’s Florencia Pettigrew, here’s a list of top-ﬁve networking tips. Follow them and watch your network—and business—grow. Turn your connections into relationships. When considering your contacts, either those made online or in person, ask yourself a question: Would I be willing to do them a favor, and would they be likely to return it? If the answer is no, your connections might not amount to an effective network. Be a good listener. The only way to build genuine relationships is to get to know people. In Ivan Misner’s words,“a good networker has two ears and one mouth and uses them both proportionally.” Give business to get business. Be willing to help people, and remember that “helping” doesn’t always mean selling your product. Besides being a source of personal satisfaction, helping others is a way to build social capital. Network anywhere, but always honor the event. Relationships can be built under a variety of circumstances, but you should always be mindful of the original purpose of the event bringing you and your interlocutors together. Diversify your network. Networks are, by nature, clusters of like people. Establishing connections with different kinds of people means branching out to other “clusters” as well. the process of developing a business relationship. First is visibility, making potential clients aware of what you do, followed by building credibility, which establishes that you’re good at what you do. The third stage, profitability, comes only after the first two stages have been successfully negotiated. Misner believes a common false assumption about networking is that it allows businesses to jump from visibility to profitability. “Even a blind squirrel can ﬁnd a nut once in a while,” he says, adding that doing business by simply passing out cards, or, one might add, by merely establishing some sort of online presence, happens “as often as a solar eclipse.” Networking, which Misner compares to farming, is not about direct selling, which is more akin to hunting. The most important aspect of networking takes place between visibility and proﬁtability—it’s building a relationship based on credibility, which generates trust and referrals. If the process seems slow, it’s because it is. The only way to expedite it, says Misner, is to be willing to help someone. A big proponent of the law of reciprocity, as Misner explains his own formulation of it, is “givers gain.” 64 HISPANIC ENTERPRISE June/July 2008

Table of Contents Feed for the Digital Edition of Hispanic Enterprise - June/July 2008

Hispanic Enterprise - June/July 2008 Contents Briefcase: BIZBUZZ: Business Briefs Briefcase: Dynamic Trends Briefcase: Q&A Briefcase: Trendsetters BizLife: BizTech BizLife: Travel Feature: Target: Hispanics Cover Story: A Legend in His Own Time Feature: Top 25 Franchises Success & Motivation: The Talent Scout Education: Success by Degrees Finance & Investing: A Tough Sell Social Events: Emerge Dallas Politics & Government: The Accidental Americans Managing: Deconstructing Networking

Hispanic Enterprise - June/July 2008

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