Increase Your Business By Mastering the Art... From Christopher Shearer

Christopher Shearer

Christopher Shearer here, the best way to increase your business is by mastering the art of networking. Nobody understands this concept better than Dr. Ivan Misner. Dr. Misner is the founder of BNI or Business Network Int'l., the world's largest networking and referral organization. BNI has over 5,291 chapters with 111,733 members in 42 countries worldwide. In 2008 alone, the organization generated over 5.6 million referrals, translating into over $2.3 billion in business.

When it comes to the art of networking as a means to build your business, Dr. Misner has identified five key strategies. Let's examine two of Dr. Misner's recommended tactics:


1 - Diversify Your Networks

It's no secret, you're not going to meet people by being a "cave-dweller" who sits behind a desk all day. In other words, a good business person puts themselves out into the community. Misner takes the concept one step further by recommending that professionals diversify the groups they associate with. He suggests that individuals select at least three different groups to pursue, since networking with just one group is the business equivalent of putting all of your eggs in one basket.

Good examples of organizations to network with include local chambers of commerce, Rotary and Lions Clubs, country clubs, churches, temples and schools. Misner says that even though some of these groups aren't known for business networking, trusted relationships are built a d referrals do take place. As long as you properly honor the event you're attending, there is no harm in networking.

Dr. Misner goes on to say that a good networker is someone who wants to help people. Referral opportunities arise every day, but in order to recognize them we must first learn the language of referrals. These opportunities begin with phrases such as, "I need", "I don't know", or "I can't". In order to be prepared for such events, it's a good idea to carry a business card file containing your favorite referral contacts and pass a card along in an appropriate situation. Another idea is to write the referral contact's name on the back your card and have the recipient email you for the contact information. Most importantly, teach your referral partners to do the same for you.


2 - Develop Your Contact Spheres

A "contact sphere" is a group of professionals who work in non-competitive businesses which could potentially lead to symbiotic relationships. As an example, a loan officer's sphere would include real estate agents, financial planners, CPAs, insurance agents, landscapers, handymen, etc. Citing his philosophy of "breadth versus depth", Dr. Misner emphasizes that sheer numbers are not nearly as important as the quality of relationships within one's sphere. He points out that strengthening these bonds is about more than simply referring business. It's about your ability to help someone however you can, which may be through the offering of advice or the sharing of ideas. Just remember the "Law of Reciprocity". What you contribute to others will eventually come back to you.

Dr. Misner has found that this step is the one that's overlooked most often when networking, and it may also be the one which does your business the most good. He is very careful to point out that he is not recommending a payoff in any way. Actually, his research has shown that one of the best things you can do when someone refers an individual your way is to send them a hand-written thank you note. It costs almost nothing, takes very little time, and is so personal and genuine that it helps to keep the referrals coming.

3 - Acknowledge Those Who Refer Others Your Way

Networking techniques and protocols differ from group to group. What may be appropriate at a local chamber meeting differs from what would be suitable when networking through an online organization. One humorous example Misner cites is that you would never randomly hand out business cards in the middle of a wedding. It's important to understand the boundaries specific to a group and most importantly, always honor events appropriately.

4 - Learn the Techniques that are Appropriate to Your Networking Groups

Another piece of advice Misner offers is that when you're participating in groups known for being strong contact networks, it's important to use what he calls the LCD, or lowest common denominator technique. In other words, talk about your business in terms of one specific idea or facet per meeting. He states that the more specific you are, the more likely it is that someone will remember the details of your conversation, giving you the best chance of obtaining a referral.

Cultivating relationships takes time and consistent nurturing. It used to be that professionals would attend networking events with the idea that whoever collected the most business cards by the end of the night "won". In order to succeed in business today, it's important to develop quality relationships where you're constantly bringing value to those around you. Not only will this create good will and repeat business, it will also encourage referral partners and clients alike to share their good experiences with others and refer them your way.

5 - Networking is about "Farming" not "Hunting"

I hope you enjoyed Dr. Ivan Misner's 5 strategies for increasing your business through networking. I hope that helps give you some new ideas. May God bless you and best of luck in all of your endevours.



Christopher Shearer