ArticlesBlog

The Importance Of Networking In Business | Stop Cold Calling & Learn How To Start Networking BETTER

The Importance Of Networking In Business | Stop Cold Calling & Learn How To Start Networking BETTER


– Do you want more leads? You hate cold calling? Well, this is the fifth
video in our six-video series on how you can get more
leads with no cold calling. That’s right, more
leads, no cold calling, Video Five, Networking
Is Working For Leads. It’s fantastic! And we’re going to show you how you can put together
a system for networking to get you more leads with no
cold call prospecting ever. There are three things that you’ll discover
in today’s video. You’ll discover why
group networking is way better than
one-on-one networking and why I never recommend
one-on-one networking to anybody who wants to
build a big business. The second thing you’ll discover are the types of groups
you should belong to. People sometimes go out and
join a lot of different groups. Sometimes people join
all the groups they can and that’s a mistake
and we’ll talk to you about the types of
groups you should join, what works and what doesn’t. The third thing you’ll discover is how to make
networking work for you. What do you do to make sure
that you use these groups to their maximum effectiveness? Then, there’s something at the bottom of this
slide right here. You see it there, the
secret networking strategy. At the very end of our
time together today, at the very end of this session, I’m going to reveal
to you a strategy that I’ve never shared with
anyone here on YouTube before related to networking. That’s right, I’m gonna share
my secret networking strategy that I always have my clients do but I’ve never shared
publicly before, so you’re going to
wanna stick with me to the end of this video. I wanna remind you that
my name is Dave Lorenzo and this is The
Dave Lorenzo Daily. We’re here everyday with
a brand new sales tip and a strategy for you
to grow your business. So if you’re just joining
us for the first time, this is the fifth video
in a six-video series so I’m glad that you’re here. Be sure and go back and watch the other four videos
that came before this one and the video that
comes after this but make sure you hit
the subscribe button and ring the notification bell. (bell rings)
Because everyday at five p.m., we release a brand
new video on sales. I want you to be a
member of our community. I want you to join
us all the time. And I’m really glad you’re here. Thanks for being here. Let’s talk about
one-on-one networking versus group networking and
why I love group networking and I hate one-on-one
networking. One-on-one networking is
when you target somebody and you say hey,
let’s go to lunch, and then you have a great lunch and you exchange business
cards and nothing ever happens. That’s one-on-one networking. You invest a lot of time
in going to the lunch, you invest a lot of
time at the lunch, and then you invest time
getting back to your office after the lunch and nothing
really ever comes of it. So the one-on-one
situation is not ideal for someone who’s looking
to grow a business. The only time it works
is when that one person refers you a million
dollars worth of business. And candidly, I can
count on one hand the number of times
I’ve seen that happen. Group networking, however,
is when you expose yourself to 25, 35, 2,500, 3,500 people who are members of a
group or association and you make that work for you because you become famous to
those 2,500 or 3,500 people. And we’re going to talk about
how you can do that today. And that’s the difference
between one-on-one networking and group networking. Let’s move into the
different types of groups. Let’s look at the different
types of groups you can join in order to make
networking work for you. Join me as I shrink down
into my box once again. All right. Here you see the groups, the
types of groups you can join. there’s five of them up there and we’re going to
cover each of them and the benefits to you
for joining these groups. The first is an industry group. Now, when I say
an industry group, I mean an industry that
your clients are in. I don’t mean the
industry that you’re in, I mean the industry that
your clients are in. Let’s say you sold
medical devices, you would wanna join
an industry group that was full of doctors. That’s the type of group
that would pay off for you from a networking perspective. The second type of group
that you see over here are peer education groups. This is a group of people
who are just like you. So if you’re a lawyer, you
join your State Bar Association or one of your local
bar associations. Now, peer education groups are not my favorite
types of groups because they’re
not full of people who are going to be
your ideal clients and you’re going to
invest a lot of time so I’d rather have
you invest the time in a group that’s going to
contain a lot of clients. The way that peer education
groups pay off for you is if you are a leader
of one of those groups and you have a subspecialty
that only a couple of people in your
industry are able to do. So I’ll give you the example
that I use all the time and that is my friend Brian who is a Florida
Bar ethics lawyer. He works in Florida. There are over 90,000
lawyers in Florida, and of the 90,000
lawyers in Florida, there are five or six who
are eminently qualified to handle ethics
complaints against lawyers. So when Brian joins
a group of lawyers, he’s probably the only
person in that group who can help them
with ethical issues. So that is a fantastic
opportunity for him. If you have a
unique niche market and you can get referrals from the people
who are your peers, then a peer education
group is for you. If you don’t, avoid
peer education groups. The third type of group
is a civic association, a civic group like
The Rotary Club, or Kiwanis, or The Lions Club. These groups serve
the community. These groups exist to
help the local community. Your first priority when
you join these groups is to fulfill the
mission of the group. It’s not to develop business. So I’m not a huge
fan of civic groups. I like them because they
give back to the community and you should join the groups to give back to the community, and if you do the things
I’m going to talk about in the next segment, you’ll
be able to develop business but that’s not your main focus. Similar to the civic group
is the charitable group. So this is a charity that
exists to raise money and do good works for
specific groups or causes. Again, don’t join a
charitable organization specifically for business
development purposes. Join a charitable organization because you believe
in the mission and the purpose of the charity. Business will come but
it’s not the highest and best use of your time for
business development purposes. Invest that time in the charity ’cause you believe
in the charity, and we’ll talk about how
you can get business from it but that’s not the main purpose. The final group is called
structured networking groups. These are groups like BNI,
Business Network International, or there are other groups
in specific industries. For example, the
Geneva Group, GGI, which a lot of lawyers
and CPAs belong to. That’s a structured networking
group for lawyers and CPAs who work with high
net worth individuals. There is a specific structure
to the organization, there are rules for how
you do business together, and they create an environment that is conducive to building
business relationships. Structured networking
groups are great but you have to pick
the right group. You have to make sure the people who are going to be
in the room with you are people who, number
one, know how to refer, and number two, are
willing to introduce you to the contacts that they have. So those are the different types of networking groups
that you can join. And I encourage you
to explore all of them but the most productive are
going to be the industry groups and the structured
networking groups. Those are going to be the
most productive for you. If you’re involved
in other groups, peer education groups, civic
groups, and charitable groups, I encourage you to use
the system we’ve outlined but be very careful about
how you develop the business because those are not groups that are designed
for the purpose of sales and revenue growth. All right. Now, let’s talk about how you
make networking work for you. I’m going to talk
about the group dynamic and then I’m going to talk
about referability habits and then I’m gonna talk about how you can teach other
people to refer you. First is the group dynamic. You need to walk into
a room full of people who are ready, willing,
and able to refer you. That’s why I like
industry groups and I like structured
networking groups because both of those groups, their mission is to help
you grow your business. The second thing you
need to understand is that you need
to be referable. A gentleman by the
name of Dan Sullivan, he’s the founder
of Strategic Coach, he created what’s called
The Referability Habits and there are three
referability habits that I like very much that I give Dan full
credit for developing. The first is if you
wanna be referable, you have to show
up and be on time. Show up and be on time. So you can’t expect
to get referrals from a networking group if
you don’t attend the meetings. It’s common sense. Maximize the opportunity
by being there early. The second thing is be polite. Say please and thank you. It is amazing to me that we
teach our children to be polite yet we do not adhere to
that philosophy ourselves. Say please and thank you. Always say please and thank you. The third referability
habit is no gossip. No gossip. Do not speak ill of another
member of the group. If something happens and the
group doesn’t work out for you or something happens and
a member of the group does something that
aggravates you, handle it individually
with that member but don’t gossip about
anyone else in the group, and here’s the reason why. If you gossip about
me to someone else, that person is going to wonder
what you’re saying about them and they’re going to be
less likely to refer you and less likely
to be around you. They don’t wanna
be around people who are talking about other
people because they believe that you’ll find something
negative about them to tell other people about. So those are the three
referability habits. Now, let’s talk about how you
teach people to refer you. I focus on having an external
orientation in everything I do and I want you to have
an external orientation, focus on delivering value
to the other person first in order to develop
relationships. This is true in a
networking setting. So when you join a
networking group, you connect with someone
in the networking setting, if you wanna get
business from them, the first thing you need to
do is refer something to them because you’re doing two things when you refer business to them. The first thing you’re
doing is you’re showing, you’re demonstrating your
external orientation. You’re showing them that
you care about them. The second thing you’re
doing is by referral, you’re teaching them
how to refer you. So for example, if you
want to be connected with potential
clients via email, then send an email to the
person you want referrals from, connecting them
with someone else. And when they’re ready to refer
you, they’ll do it by email. If you’d prefer to be
connected by telephone, then call the person up,
set up a three-way call, and put the referral
on the phone and connect them via telephone. Then when that person
goes to refer you, you’ll get a telephone call. If you prefer to receive
your referrals in person, take the person
you’re referring, drag them by the collar into
the other person’s office, sit them down and
make the introduction. Or schedule a mealtime. Bring the other person, sit them down and
make the introduction. Here’s what I’ve
learned over the years. In-person introductions work
out 85 to 90% of the time. This is really important so I wanna make
sure I say it again. In- person introductions
result in business or a really good opportunity at attracting business
85 to 90% of the time. So in-person introductions, if you can pull them
off, are the way to go. Let’s move into our
bonus topic now, the final thing
that I promised you, and that’s the secret
networking strategy that works phenomenally well. The secret networking strategy is develop your own
networking group. That’s right. Develop a networking group
that is exclusive to you and the people you know or
you have in your community. In the last video we
made in this series, we talked about how you
can leverage LinkedIn and leverage YouTube
to grow your network. Once you have a
really solid network, you can create a group that
meets quarterly or monthly and that group will be
your community of people who refers business to you. Now, the mission of the group is not specifically to
refer business to you. The mission of the group
is to help everyone grow through passing referrals. So you teach people how
to refer business to you, you teach people how to refer
business to one another, then you invite people to
be part of your community that exists specifically
for referral purposes. That is an amazing strategy and I’ve seen
groups of 10 people result in hundreds of thousands, if not millions of dollars
in business over the years. I’ve seen groups
of 25, 30 people that have resulted in
transforming the careers of people who are independent
sales professionals, and then I’ve seen people who are really, really
focused on this strategy and really ambitious
develop a group of people that’s over 100 folks strong, they’re the only person in that
group who does what they do, and it’s resulted in tens of
millions of dollars a year to their business. You can develop your own
networking group easily but you have to be
able to put in the work and you have to
know the structure. If this is something that
you’re interested in, if you want to develop
your own networking group and realize hundreds of
thousands of dollars, if not millions of
dollars as a result, reach out to me, give me a call. I do this with my
clients all the time. You’re going to need a little
bit of money to start this up but the process is
brain-dead simple once I show you what to do. If you’re willing to put in
the work and invest the time, you need to invest about
six months to a year in developing this
networking group, it will be worth tens
of thousands of dollars at the beginning and then
hundreds of thousands, if not millions of dollars
to you on an annual basis. Reach out to me. Call me in my office and I we’ll help you
create a networking group that will result
in business for you and it’ll be yours! It’s your own proprietary
networking group. You set the rules, you
control who gets in. It is a beautiful thing. So this has been the fifth video in a six-video series on no
cold call lead generation. It is a prospecting system
that everybody loves. I hope you enjoyed
our time together as we talked about networking. I want you to join me again
in the sixth of six videos. The next video, we’re
going to talk about strategic alliance partnerships and how they’re the fastest way, the fastest way to new business. I can’t wait to see
you in the next video. Until then, I’m Dave Lorenzo. This is The Dave Lorenzo Daily. I hope you do this
and sell more.

Comments (1)

  1. Developing a lead generation prospecting system isn’t always easy. If you want help, call Dave at 888.444.5150

Comment here