LIVE LIFE UP HIGH

photo credit: BAIA

Networking is a fantastic way to build your business, not only by expanding awareness and your customer base but also by giving you professional resources to enhance and strengthen your skills and knowledge. 

Not only should you network with other professionals in your field but you should network with your customers, your suppliers and people who can provide administative support.

Networking actually takes many forms including offline networking with local associations and organizations like the Chamber of Commerce.  You can also network online in forums, chat rooms and social networking sites.  Here’s how:

Step One – Understand what your networking goals are.

For many, their social networking strategy evolves around building relationships – and there are many different relationships networking can create and build including:

* Joint venture partnerships
* Vendor relationships
* Mentor relationships 
* Friends and resources
* Customers
Whether you’re creating a social networking strategy to find new customers or you’re seeking partnerships or mentors, or a combination of the above it’s important to have your strategy mapped out before you begin networking.

Step Two – Create Your Networking Plan

Answer the following questions:

* Who is your target audience?
* What relationships are you looking to find and build?
* What do you have to offer them?
* What networking sites or organizations will you participate in?
* How are you going to represent yourself online?
* How often are you going to post/participate? 
* Will you create specific promotions and offers for your networking audience?

Step Three – Choosing your networking mediums – websites and organizations

Whether you’re looking to join a local networking organization or an online website, the most important thing to keep in mind are your goals.  Determine if the organization is going to be able to help you reach your goals before taking steps to join.
For example, if you’re looking to create joint venture partnerships then a professional networking site, forum, or chat room devoted to your industry may be exactly where you need to be.  However if you’re looking to build your customer base and expand awareness then a popular social networking site would fit the bill. 
Often, networking sites are valued by the number of members they have however it’s also important to make sure the audience matches your audience.  For example, if you’re marketing to seniors or baby boomers then MySpace is probably not the right social networking site for you since it caters to younger people.

Step Four:  Participate

Networking is only effective if you participate.  Here are a few rules of interaction when it comes to online and offline networking.

Get involved. Networking is about connecting with others. This means communicating with your audience in a manner which they will respond to. This is accomplished by using their language, addressing issues which they will be interested in or concerned about and providing them with information and resources which they will benefit from.

Update frequently. Online, in order to develop a following and to stay connected to your audience, it’s important to update regularly. Because many people have made a habit of networking online at least once a day (some people maintain access to their social networking site of choice all day long), it’s important to stop in and say hello. If your time permits, update at least once a day. If you don’t have time to commit to updating daily, consider outsourcing your social networking.

Be professional. Networking is about giving and receiving – not selling.  Keep the sales pitches to a minimum.  Networking is more about offering benefit to others than making sales. 

Networking, whether online or off, is a valuable way to grow your business.  Create a strategy and goals and remember you get what you give – become active in the right group and you’ll reap the rewards.

I look forward to hearing your comments.

photo credit: ckaroli

In our final installment of this series I mention 3 more modes of thoughts for successful entrepreneurs. I am sure you know that this list is not exhaustive. There are more modes of thought that are important for the entrepreneur that I may address in future posts. Ok, now for the “final” three modes…

Think “Extra Mile or Ten” – It’s about service. Extraordinary service. Find out what your customers really desire  (which you have learned from our previous post because you are thinking like your customer) and find ways to deliver this desire packed with unexpected value. Discard the thinking of the limited entrepreneur that delivers ordinary service. Train yourself to think about each interaction with your customer and how you can make their experience exceptional. Do this and you will create fans that will spread the word about your business and your service. Your business will prosper.

Think Leverage – You can’t do it all yourself. Thinking you can is a limited and foolish way to proceed. Many entrepreneur limit their success, ruin their health and destroy their families simply because they attempt to do it all. Banish this mode of thought. Adopt the leverage mindset. There are many types of leverage but 2 good ones to start with are technology leverage and people leverage.  

Learn how to use technology to get things done more effectively and efficiently. Look at your business model and think about the processes that can be enabled by technology.  Here are two good questions to get you started. How can you use the Internet to reach your clients better or deliver better service to your clients? How can you use you mobile device to be more productive?

How about people leverage? What tasks are you handling that would be better performed by an employee or a freelancer? As I mentioned in a previous post, you should be focusing on the 20% of the business that gives you 80% of your results. The rest should be outsourced to others. One caveat is that you should only outsource to talented people. Talent may be expensive but the quality they produce is worth it.

Think Creatively- This is a very important mode of thought for the entrepreneur. You must learn how to think creatively about opportunities and about problems. Think laterally. Think options. When you are dealing with a problem think about 3 ways you can solve the problem. Simply doing this will help get your creative juices flowing. 

Here is another great way to get those creative juices flowing. Look at another industry and pick a process that is common in that industry. Now think about your business. How can you apply this concept to your business? This is a great way to generate new ideas for your business.

Please let me know how you use these modes of thought.

photo credit: milena mihaylova

How we think affects every aspect of our lives. This is no truer than it is in our businesses.  As entrepreneurs our habitual modes of thought shape what we accomplish in our business. If we learn how to think right we can accomplish great things.

In this post and the subsequent post, I will share with you 7 modes of thought that will lead you to entrepreneurial success. Here are the first 3:

Think Big – I am sure you have heard this before but it bears repeating. It is important to think big in terms of your entrepreneurial vision and the number of people you can serve. For example, you may be thinking about creating one location for your business. How about thinking about 10 locations or 100 locations? Remember you don’t have to do it by yourself nor do you have to do it all at once. People often overestimate what they can do in one year but grossly underestimate what they can do in 10 years. Thinking big serves you well because it will propel you past pettiness and small obstacles. I encourage you to look at your current business reach and multiply it by at least 100.

Think Small -This is not a contradiction to our other mode of thought. Thinking small is thinking about distinctions. What makes your business different from your competitors. What distinctions can you make in your business that would be hard to copy? Remember several small distinctions can make a huge difference.  Look at your business and your competition, what are 5 small distinctions that you can make to better serve your client base.

Think without Fear – Ask yourself this question- what would I do as an entrepreneur if I knew it was impossible for me to fail? This powerful question helps you think in terms of possibilities. Many entrepreneurs limit themselves with fear-based thinking. They focus on what they can’t do instead of what they can do. In your current business or in the one you are planning to start, answering the question presented above will take your business to a new dimension.

Please stay tuned for Part 2 of this series.

As always, I welcome your comments and suggestions.