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Networking Like a Pro

Networking Like a Pro

Turning Contacts into Connections
by Ivan R. Misner 2009 240 pages
3.85
100+ ratings
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Key Takeaways

1. Networking is about farming relationships, not hunting for quick sales

"Networking is about farming for new contacts, not hunting them."

Shift your mindset. Successful networking requires a long-term approach focused on cultivating relationships rather than seeking immediate business opportunities. Like a farmer planting seeds and nurturing crops, networkers should aim to form and build connections wherever possible, understanding that the effort expended upfront will yield a rich harvest later on.

Focus on giving, not getting. Adopt a "Givers Gain" attitude, always looking for ways to help others without expecting immediate reciprocation. This approach builds trust, credibility, and goodwill, which eventually leads to more referrals and business opportunities.

Quality over quantity. Instead of trying to collect as many business cards as possible at events, focus on having meaningful conversations with fewer people. Aim to make 5-10 quality connections per event, spending 5-10 minutes with each person to establish a genuine rapport.

2. The VCP Process: Visibility, Credibility, Profitability

"The VCP Process describes the creation, growth, and strengthening of business, professional, and personal relationships."

Visibility is the first stage, where you become known to others in your network. This involves attending events, joining organizations, and making your presence known in your industry or community.

Credibility is built as you demonstrate your expertise, reliability, and trustworthiness. This can be achieved through:

  • Consistently delivering high-quality work
  • Sharing valuable knowledge and insights
  • Following through on commitments
  • Receiving endorsements from others in your network

Profitability is the final stage, where your relationships become mutually beneficial and lead to business opportunities, referrals, and collaborations. This stage is reached only after investing time and effort in building visibility and credibility.

3. Develop a diverse network through four major streams

"Your business strategy comprises multiple elements that work together toward achieving your overall goal, whether that goal is higher sales, greater profit, geographic expansion, or something else."

Casual-contact network: This includes general business groups like chambers of commerce, where you can meet a wide variety of professionals. While these connections may not be as deep, they provide breadth to your network.

Knowledge network: Join professional associations and industry groups to stay informed about developments in your field and connect with peers and potential collaborators.

Online network: Leverage social media platforms and professional networking sites to expand your reach and maintain connections. Use these tools to complement, not replace, face-to-face networking.

Strong-contact group: Participate in dedicated referral groups or organizations focused on business exchange. These provide a structured environment for building deep, mutually beneficial relationships.

4. Master the art of asking questions and active listening

"The human brain can think at 400 to 450 words per minute; the average person, however, speaks 100 to 150 wpm."

Prepare thoughtful questions. Before networking events, prepare a few open-ended questions that encourage others to talk about their business, challenges, and goals. Examples include:

  • "What do you like best about what you do?"
  • "What got you started in your industry?"
  • "What are some of your biggest challenges?"

Practice active listening. Focus your full attention on the person speaking, avoiding the temptation to scan the room for other contacts or plan your response. Use the extra mental capacity to process and understand what's being said.

Follow up with relevant insights. Based on what you've heard, offer valuable information, connections, or resources that could help the other person. This demonstrates your attentiveness and willingness to add value to the relationship.

5. Craft a compelling Unique Selling Proposition (USP)

"Your USP is basically a brief description of the purpose of your business, stated in the most succinct and compelling way possible in order to get others to understand the unique value of what you do."

Identify your target market. Clearly define the specific group of people or businesses that are most likely to benefit from your products or services.

Articulate the problem you solve. Explain the key challenge or pain point that your business addresses for your target market.

Highlight your unique approach. Describe how your solution differs from competitors or traditional methods in your industry.

Keep it concise and memorable. Aim for a one or two-sentence statement that quickly captures attention and invites further conversation. For example: "I help busy entrepreneurs market their business in less than 90 days."

6. Leverage your database and follow-up systematically

"Did you know that the average businessperson's contact database contains 859 names?"

Implement a robust contact management system. Use software like ACT!, Microsoft Outlook, or Relate2Profit.com to organize and track your network connections. Include fields for:

  • Contact information
  • Date and location of first meeting
  • Personal interests or hobbies
  • Last interaction and follow-up dates
  • Referrals given and received

Develop a follow-up strategy. Create a system for regular, meaningful contact with your network:

  • Send personalized follow-up emails within 24-48 hours of meeting new contacts
  • Schedule "coffee connections" with promising new contacts within 1-2 weeks
  • Make two personal phone calls each week to touch base with past contacts
  • Send periodic newsletters or valuable content to your entire database

Segment your contacts. Categorize your network into groups (e.g., A-list, B-list) based on their potential as referral partners or clients. This allows you to prioritize your follow-up efforts and tailor your communication.

7. Become a referral gatekeeper to supercharge your network

"What if I became the hub?"

Position yourself as a connector. Actively seek opportunities to introduce people in your network to each other, even if there's no immediate benefit to you. This establishes you as a valuable resource and increases the likelihood of reciprocal referrals.

Develop expertise across industries. Familiarize yourself with a wide range of businesses and professionals so you can make informed referrals and connections.

Create a referral system. Implement a process for tracking referrals given and received, and follow up to ensure positive outcomes. This could include:

  • A database of trusted professionals in various fields
  • A standardized introduction format for connecting contacts
  • A system for following up on referrals to gauge satisfaction

Communicate your role. Let your network know that you're available as a resource for connections and referrals. Consider creating a letter or email template explaining your commitment to facilitating valuable introductions.

8. Create a Chief Networking Officer mindset

"Don't hire a CNO; just take on a CNO mind-set."

Allocate dedicated time. Set aside 2-3 hours per week specifically for networking activities, treating it as a crucial business function rather than an afterthought.

Develop a networking strategy. Create a plan that outlines:

  • Target industries or professions for expanding your network
  • Specific networking events or groups to attend regularly
  • Goals for new contacts, follow-ups, and referrals each month

Track and measure results. Use tools like the Networking Scorecard to monitor your networking efforts and their outcomes. Regularly review and adjust your strategy based on these metrics.

Cultivate a giving mindset. Approach every interaction with the question, "How can I help this person?" This attitude will naturally lead to stronger relationships and more referral opportunities.

9. Implement creative rewards to incentivize referrals

"Creativity is the key to any good incentive program."

Think beyond cash rewards. While finder's fees can work in some situations, consider more personal and memorable incentives:

  • Customized gifts (e.g., a unique wine blend, concert tickets)
  • Exclusive experiences (e.g., dinner at a high-end restaurant)
  • Recognition (e.g., a "referral partner of the month" program)

Tailor incentives to different groups. Develop separate reward systems for employees, clients, and networking partners to ensure relevance and effectiveness.

Use incentive triangulation. Partner with other local businesses to offer discounts or services as referral rewards, creating a win-win-win situation for you, your referral partner, and the third-party business.

Seek input on incentives. Host a brainstorming session with key clients, partners, and team members to generate creative reward ideas that resonate with your network.

10. Understand and leverage the ten levels of referrals

"Referrals come in many different grades."

Recognize the spectrum of referral quality. Understand that referrals range from simply providing a name and contact information (Level 1) to a fully closed deal (Level 10). The higher the level, the less work required on your part to convert the referral into business.

Educate your network. Teach your referral partners about the different levels of referrals and how they can provide higher-quality introductions. This might include:

  • Assessing the prospect's needs before making the referral
  • Providing a warm introduction via email or phone
  • Arranging a face-to-face meeting with the prospect

Aim for higher-level referrals. While any referral is valuable, focus on cultivating relationships that lead to Level 7-10 referrals, where your referral partner takes an active role in facilitating the connection and promoting your services.

Reciprocate with high-quality referrals. When referring others, strive to provide the highest level of referral possible. This sets a standard for your network and increases the likelihood of receiving similarly high-quality referrals in return.

Last updated:

FAQ

What's "Networking Like a Pro" about?

  • Overview: "Networking Like a Pro" by Ivan R. Misner is a comprehensive guide on how to effectively network to turn contacts into meaningful connections. It emphasizes the importance of building and maintaining professional relationships.
  • Structure: The book is divided into six parts, covering the networking mindset, strategy, face-to-face networking, making your network work, secrets of the masters, and evaluating your networking efforts.
  • Purpose: It aims to teach readers how to develop a sustainable business client-acquisition strategy through networking, using proven tactics and techniques.
  • Target Audience: The book is ideal for business professionals, entrepreneurs, and anyone looking to enhance their networking skills for business growth.

Why should I read "Networking Like a Pro"?

  • Practical Advice: The book offers actionable strategies and techniques for effective networking, making it a valuable resource for professionals seeking to expand their business connections.
  • Expert Insights: Written by Ivan R. Misner, a leading expert in business networking, the book provides insights based on years of experience and research.
  • Comprehensive Coverage: It covers a wide range of topics, from the basics of networking to advanced strategies for leveraging connections.
  • Long-term Benefits: By applying the principles in the book, readers can build a strong network that supports their business goals and leads to long-term success.

What are the key takeaways of "Networking Like a Pro"?

  • Networking Mindset: Networking is about building relationships, not just collecting business cards. The book emphasizes the importance of a giving mindset, encapsulated in the principle "Givers Gain®."
  • Strategic Approach: Develop a clear networking strategy by identifying your target market, understanding where to meet them, and knowing whom you want to connect with.
  • Quality over Quantity: Focus on building deep, meaningful relationships rather than trying to meet as many people as possible.
  • Referral Process: The book outlines a systematic approach to generating and managing referrals, emphasizing the importance of follow-up and maintaining credibility.

How does the "Givers Gain®" philosophy work in networking?

  • Core Principle: "Givers Gain®" is the idea that by helping others succeed, you will eventually receive help in return. It's about creating a network based on mutual benefit and trust.
  • Long-term Focus: The philosophy encourages a long-term approach to networking, where the focus is on building relationships rather than immediate gains.
  • Building Trust: By consistently providing value to your network, you build trust and credibility, which are essential for receiving referrals and support.
  • Community Building: It fosters a sense of community and collaboration, where members of your network are more likely to support each other.

What is the VCP Process® mentioned in "Networking Like a Pro"?

  • Definition: The VCP Process® stands for Visibility, Credibility, and Profitability. It's a framework for developing and nurturing business relationships.
  • Visibility: The first stage involves becoming known to others in your network. It's about being present and active in networking events and activities.
  • Credibility: This stage is about building trust and demonstrating your reliability and expertise. It's achieved through consistent and positive interactions.
  • Profitability: The final stage is where the relationship becomes mutually beneficial, leading to referrals and business opportunities.

How can I develop a networking strategy according to "Networking Like a Pro"?

  • Identify Prospects: Determine who your best prospects are by analyzing your past clients and understanding your target market.
  • Choose the Right Events: Decide where you can meet your best prospects by selecting networking events that align with your business goals.
  • Set Clear Goals: Define what you want to achieve from your networking efforts, such as building relationships, gaining referrals, or increasing visibility.
  • Consistent Effort: Regularly attend networking events and follow up with contacts to maintain and deepen relationships.

What are some standout questions to ask at networking events?

  • Engage with Interest: Ask questions that show genuine interest in the other person's business, such as "What do you like best about what you do?"
  • Explore Backgrounds: Inquire about their journey, like "What got you started in this industry?" to understand their motivations and experiences.
  • Networking Habits: Ask where they usually network to find common ground and potential new opportunities.
  • Challenges and Needs: Discover their challenges by asking, "What are some of your biggest challenges?" to identify ways you can help.

How does "Networking Like a Pro" suggest handling online networking?

  • Supplement, Not Replace: Online networking should complement face-to-face interactions, not replace them. It's a tool for maintaining and expanding connections.
  • Choose Platforms Wisely: Select online platforms that align with your target audience, such as LinkedIn for professional networking.
  • Engage Meaningfully: Participate in discussions, share valuable content, and connect with others in a way that builds credibility and trust.
  • Balance Time: Be mindful of the time spent online and ensure it aligns with your overall networking strategy and goals.

What is the "12 x 12 x 12 Rule" in networking?

  • First Impressions: The rule focuses on how you are perceived at different distances and stages of interaction.
  • 12 Feet Away: Consider how you look from a distance. Do you appear approachable and professional?
  • 12 Inches Away: Evaluate your appearance and demeanor up close. Are you as polished and engaging as you seemed from afar?
  • First 12 Words: Prepare a concise and impactful introduction that clearly communicates who you are and what you do.

What are the ten levels of referrals described in "Networking Like a Pro"?

  • Range of Referrals: Referrals vary in quality based on the level of involvement from the referral source.
  • Basic Level: A simple name and contact information is the lowest level, requiring you to do most of the work.
  • High-Quality Referrals: At the highest level, the referral source has already closed the deal for you, requiring minimal effort on your part.
  • Building Relationships: The book emphasizes the importance of developing strong relationships to receive higher-quality referrals.

How can I measure the effectiveness of my networking efforts?

  • Networking Scorecard: Use the Networking Scorecard to track your activities and measure the impact of your networking efforts.
  • Set Goals: Define clear objectives for your networking, such as the number of new contacts or referrals you aim to achieve.
  • Track Progress: Regularly review your scorecard to assess which activities are yielding the best results and adjust your strategy accordingly.
  • Continuous Improvement: Use the insights gained from tracking to refine your approach and enhance the effectiveness of your networking.

What are the best quotes from "Networking Like a Pro" and what do they mean?

  • "Givers Gain®": This quote encapsulates the book's core philosophy that by helping others, you will eventually receive help in return.
  • "Networking is about farming, not hunting": It emphasizes the importance of cultivating relationships over time rather than seeking immediate gains.
  • "Visibility to Credibility to Profitability": This quote outlines the VCP Process®, highlighting the stages of developing a successful networking relationship.
  • "Networking is a contact sport": It underscores the active and participatory nature of effective networking, requiring consistent effort and engagement.

Review Summary

3.85 out of 5
Average of 100+ ratings from Goodreads and Amazon.

Networking Like a Pro receives mostly positive reviews, with an average rating of 3.86 out of 5. Readers appreciate its practical advice, comprehensive coverage of networking strategies, and detailed explanations. Many find it valuable for beginners and those looking to improve their networking skills. Some criticisms include repetitive content, excessive self-promotion, and a focus on small business owners in the US. Overall, readers consider it a useful guide for learning effective networking techniques and building professional relationships.

Your rating:
4.43
21 ratings

About the Author

Dr. Ivan Misner is the founder and chairman of BNI, the world's largest business networking organization. He is a New York Times bestselling author with twelve books to his credit, including "Networking Like a Pro." Misner holds a Ph.D. from the University of Southern California and has taught business management and social capital courses at various universities. Recognized as a leading expert in business networking, he has been featured in major publications and media outlets. Misner is also involved in philanthropic work through the BNI-Misner Foundation. In addition to his professional achievements, he is an amateur magician and a black belt in karate.

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