BNIGuy's Blog

It's all about business!

How to double your networking results in 2011

with 2 comments

“For every disciplined effort there is a multiple reward.” ~~Jim Rohn

Ask any financial planner about compound interest and they will share the concept that small improvements in multiple areas add up to big results. For example, a ten percent return per year will double the value in roughly six years. The same is very true of your networking efforts and the start of a New Year is an excellent time to lay out a successful plan.

Results follow activities and activities can be measured in both quantity and quality. True in all aspects of life, the same formula applies neatly to networking, as well. If you can improve six different areas by ten percent your results will improve by 195%, which is nearly double. If you can improve five areas by 15% or four areas by 20% you will also more than double the results.

Therefore, if you would like to achieve twice the success in 2011 from networking, take the activities you tracked in 2010 and increase all of them by a small amount.

If you did not track activities in 2010 then use this planning week to decide which activities are valuable to you and define a tracking method you can and will actually use.

I will give you some ideas—although this is not a comprehensive list.

Take networking events. You can evaluate them from both a quantity and quality standpoint. Under quantity, ask “How many did I attend in 2010?” If you attended 20 add another two for a 10% increase, three for 15%, etc.

To consider networking events from a quality perspective, consider how many potential business partners and prospects attend. If you are networking with the people that can be mutually beneficial, this is higher quality. Turn them into numbers to evaluate ten-percent, fifteen-percent improvements.

The same thought process can include Introductions made: quantity and quality; visitors invited: quantity and quality; one-to-one meetings: quantity and quality; referrals given: quantity and quality; referrals received: quantity and quality; and trainings completed: quantity and quality.

A key trait for successful networkers is follow-up. Quantity may relate to timeliness and frequency while completeness (how thoroughly did the follow-up take place at each event) could evaluate quality.

There is a long list of activities you can both control and quantify—although you only need to choose a few.  In order to improve be certain to capture a baseline, plan the increase, and track activities against that plan.

Taking this a step further you can see that they all work together. If you attend more networking events and they are of better quality and you make more introductions and follow-up more effectively the compound results will accrue—and that is exactly what you want.

One last tip: If you know how many referrals you want to receive each month a very simple shortcut is to commit to give that many or more. Higher quantity and higher quality will also impact those you receive.

Let this be the start of a very prosperous 2011.

© 2011 by Stephen Hand of Triangle BNI.
All rights reserved. No part of this document may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of Stephen Hand of Triangle BNI.

Advertisements

Written by bniguy

January 2, 2011 at 2:12 am

2 Responses

Subscribe to comments with RSS.

  1. Great post Steve. Looking forward to future updates

    Moji Ajele

    January 5, 2011 at 10:47 pm

    • Thank you, Moji. This will be weekly series, every Sunday. Hope your New Year was great.

      bniguy

      January 5, 2011 at 11:05 pm


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: