Increase Your Business Through Networking, Part II

Crofton, MD. Monarch Mortgage Bill Vourazeris Communication Is Key
This is Part II in our series of networking tips based upon the wisdom of Dr. Ivan Misner, the founder and CEO of the world's largest referral organization, Business Network Int'l., and best-selling author and expert on the subject of networking.Previously, we examined Dr. Misner's first two strategies, which were to Diversify Your Networks and Develop Your Contact Spheres. Here are three additional strategies which are sure to help you build your business: 3 – Acknowledge Those Who Refer Others Your WayDr. 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. 4 – Learn the Techniques that are Appropriate to Your Networking GroupsNetworking 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. 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. 5 – Networking is about "Farming" not "Hunting"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. I hope you enjoyed Dr. Ivan Misner's 5 strategies for increasing your business through networking. Please call me if you’d like to explore these ideas further. I would welcome the opportunity to discuss them with you!

Monarch Mortgage Bill Vourazeris 443-618-2880