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									 Best Practices in Online
Social Business Networking

            Prepared by
          Hendrik Deckers
           Close Partners
              July 2004
                                                                   Networking is your business

                                            >   Networking defined
>european business development solutions<




                                                 >    Networking: the exchange of information or services among individuals,
                                                      groups, or institutions
                                                        (Merriam-Webster)
                                                 >    Networking: The systematic process of meeting people, learning about
                                                      them, and establishing relationships so that all parties establish and
                                                      expand a base of resources to support their endeavors.
                                                        (John Hoppe, President, Independence Capital Company)


                                            >   Business isn’t what you know, it’s who you know,
                                                so networking is your business

                                            >   The guiding principle of networking is to give first and receive second.
                                                Experienced networkers have an ‘abundance’ mentality, looking to
                                                help others on every occasion.
                                                (Will Kintish at www.kintish.co.uk )


                                            >   “Give without remembering, receive without forgetting”
                                                        Elizabeth Asquith Bibesco British Author &Poet (1897- 1945)



Hendrik Deckers - June 2004
                                                     Why networks matter so much:
                                                            jobs, pay, vc, influence

                                            The many benefits of social capital
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                                                to individuals and to organizations:
                                                  > Getting a job
                                                  > Pay and promotion
                                                  > Influence and effectiveness
                                                  > Venture capital and financing:
                                                  > Organizational learning
                                                  > Word-of-mouth marketing
                                                  > Strategic alliances
                                                  > Financial stability
                                                  > Democracy
                                                                                                                       Professor Wayne Baker:
                                                                                                     « Achieving Success Through Social Capital:
                                                                          Tapping the Hidden Resources in Your Personal and Business Networks »

                                            Sandler Sales Institute Study
                                                > Cold calls are successful 1% of the time
                                                > Word of mouth is successful 15%
                                                > Referral goes up to 50%
                                                > Referral plus the person who made the referral either participate on the
                                                    sales call or attends the meeting – the success rate goes up to 80%



Hendrik Deckers - June 2004
                                                             Embrace change or be run over by it

                                                       Business Interactions                                  Business Networking
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                                                                                                   In
                                            Letters                       Email                  Person
                                                                                                                                         Online
                                              1984              Letters                            2004                        In person Networking
                                                                                                                                         Tools
                                                                     Instant
                                                                    Messaging
                                                                                     • Total Transaction Value – Up
                                            Andrew Forbes                            • Total Transaction Count – Way Up
                                            earlystage.com
                                                                          2004       • Individual Transaction Quality - Down             2014



                                              2002              2003                  2004                        2005                     2006

                                               R&D             Hype &             Refinement &              Broader                  “Part of the
                                                               Funding                Early                Adoption,                  Furniture”
                                                                                    Adoption               Shakeout/
                                                                                                          Consolidation

                                                                                                         Cesar Brea, former CEO of Contect Network Corporation
Hendrik Deckers - June 2004
                                                             The Value of your Network

                                            >   N: The Number of people in your network
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                                                      Reach more people with less effort.
                                            >   R: Their Relevance to your professional goals
                                                      Do more with less effort by knowing the right people.
                                            >   S: The Strength of your relationships with them
                                                      Learn how to build trust and friendship online.
                                            >   C: Your Credibility with the people in your network
                                                      It doesn't matter who you know if they don't believe you.
                                            >   D: The Diversity of your network
                                                      Diversify your portfolio of people just as you do your finances.

                                            >   Network Valuation Formula:



                                                and Time = Number x Strength



                                                                                                          Scott Allen David Teten
Hendrik Deckers - June 2004
                                                              Top Ten Online Business
                                                                      Networking Tips
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                                            How to build quality business relationships online:
                                            1.    Remember, you're connecting with people.
                                            2.    Clarify what you have to give and what you want to gain.
                                            3.    Become an information centre.
                                            4.    Be personally visible on the Internet.
                                            5.    Pick online communities that work for you.
                                            6.    Review the online community as a guest before you join.
                                            7.    Be prepared.
                                            8.    Pace yourself.
                                            9.    Manage your email.
                                            10.   Be sensitive to people's time and email boxes.


                                                                                                   Scott Allen


Hendrik Deckers - June 2004
                                                       Top Ten Tips for Networking

                                            1.    Collect people
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                                            2.    Respect geography
                                            3.    Start a club
                                            4.    Relax and be yourself
                                            5.    Go for volume, not quantity
                                            6.    Listen for link words
                                            7.    Make a match – live
                                            8.    Disturb your comfort zone
                                            9.    Read new material
                                            10.   Manage your reputation

                                                                          Your face
                                                                              is
                                                                          your brand
                                                                                        Thomas Power
                                                                                       Networking for Life


Hendrik Deckers - June 2004
                                                                             The beauty of
                                                                 online business networks

                                            Online business networking is …
>european business development solutions<




                                            >   independent of Time: 24/7/365
                                            >   independent of Place: from you pc – stay at home
                                            >   both Local & Global
                                            >   Targetted: use keywords, companies names to find the right people
                                            >   Inbound: Passive presence - While you sleep people will search you. Make it
                                                easy for everyone. Put your picture up. Give them information. Tell them
                                                everything, because they really do not know. Blog.
                                            >   Competitive: Stand out as you have competition. Visit others in your field and
                                                see what they have. Copy from the best!
                                            >   an Investment in your business: Feed your pipeline. Do it everyday.
                                            >   New: start now, then you are ahead of most of the universe. You will be
                                                established when others catch on.
                                            >   Memory-proof: you can keep track of your network. Social Networks have
                                                online profiles so you don’t forget, some keep track of your message exchange.
                                            >   Efficient: you can connect online with far more people than you could ever
                                                meet face to face on a daily basis.
                                            >   Changing the way we do businss



Hendrik Deckers - June 2004
                                            Online Networking:
                                                A full time job?
>european business development solutions<




Hendrik Deckers - June 2004
                                                                                                   Contact me

                                                                          Hendrik Deckers
>european business development solutions<




                                                                          Managing Director Close Partners
                                                                          hendrik.deckers@closepartners.com
                                                                          www.closepartners.com
                                                                          Chairman Ecademy Benelux
                                                                          hendrik.deckers@ecademy.com
                                                                          benelux.ecademy.com



                                            Close Partners is a multi-national, multi-skilled team of business development
                                            professionals operating across Europe. We design, build, drive and manage
                                            high-performance, pan-European routes-to-market for enterprise-class
                                            software and solution vendors. References include:




Hendrik Deckers - June 2004

								
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