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Business Networking Tips - PowerPoint

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Business Networking Tips document sample

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									Online Business Networking
        What, Why, Where
        & How.


            Prepared by
          Hendrik Deckers
             April 2005
                                                                                   Agenda

                               > Questions
                                  >   What is networking?
                                  >   Why do you network?
                                  >   Where do you network?
                                  >   What do you get out?

                               > Theory
                                  >   Friends, Acquaintances & Contacts
                                  >   The Value of your Network
                                  >   Six degrees of Separation
                                  >   Proactive Networking

                               > Online Business Networks
                                  >   Online Business Directories
                                  >   Relationship Management Tools
                                  >   SOCIAL Communities
                                  >   BUSINESS Communities

                               > Conclusions
                                  >   The Importance of Online Business Networks
                                  >   Top Ten Online Business Networking Tips
                                  >   The beauty of online business networks


Hendrik Deckers - April 2005
                                                             What is Networking?


                               > Networking is 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)



                               > 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 )



Hendrik Deckers - April 2005
                                                                Why do you Network?

                               >   Getting a job
                               >   Pay and promotion
                               >   Influence and effectiveness
                               >   Venture capital and financing
                               >   Organizational learning
                               >   Word-of-mouth marketing
                               >   Strategic alliances
                               >   Financial stability
                               >   Democracy
                               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 - April 2005
                                                     Where do you Network?


                               >   Service Clubs: e.g. Rotary, Lions, JCI, ..
                               >   Sport Clubs: e.g. Tennis, Sailing, Golf, ..
                               >   Hobbies: e.g. Cars, Cultural, ..
                               >   Study: e.g. University, MBA, Alumni, ..
                               >   Professional Organisations: Stichting Marketing,
                                   VBO, KVIV, UNIZO, ..
                               > Social Events: e.g. Family, Neighbours, Friends, …
                               > Intra-Company: e.g. Water Cooler, Incentives, …




Hendrik Deckers - April 2005
                                              What % of your Business
                                              comes from Networking?

                               > Many entrepreneurs and business people
                                 generate 80% or more of their business
                                 through Networking!!


                               > Most information is available to everybody,
                                 everywhere
                               > Business isn‟t what you know, it‟s who you
                                 know, so networking is your business




Hendrik Deckers - April 2005
                                  Friends, Acquaintances & Contacts


                               Most people have:
                               > 2 or 3 Friends
                                  Friends are people that are always there when you need
                                  them, whatever happens
                               > 200 to 300 Acquaintances
                                  Acquaintances are people that you can call upon for support,
                                  information or knowledge
                               > 2000 to 3000 Contacts
                                  Contacts are people that you have spoken, met or emailed,
                                  but cannot directly call upon for support, information or
                                  knowledge

                               > Your Friends & Acquaintances are your Network

Hendrik Deckers - April 2005
                                               The Value of your Network

                               > N: The Number of people in your network
                                       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 - April 2005
                                             The Six Degrees of Seperation

                               Let‟s make it simple and take 250 is the average size of anyone‟s network


                               >   Your   1st Degree Network = 250 people
                               >   Your   2nd Degree Network = 250 x 250 = 62.500
                               >   Your   3th Degree Network = 250 x 62.500 = 15.625.000
                               >   Your   4th Degree Network = 250 x 15.625.000 = 3.906.250.000




Hendrik Deckers - April 2005
                                                          Proactive Networking

                               Successful Business People = Proactive Networkers.
                               How do they work?

                                   1. Manage your network
                                      Map it out, keep it up to date, keep it alive
                                   2. Search your targets
                                      Who do you need? Who can introduce? What do I have
                                      to offer?
                                   3. Build a relationship
                                      “Give without remembering, receive without forgetting”
                                                                   Elizabeth Asquith Bibesco (1897- 1945)




                                    How can we improve this Process?

Hendrik Deckers - April 2005
                                                 Online Business Networks


                               Online Business Networks = Internet business dating
                               How does it work?

                                   1. Manage your network
                                      Build you online profile, invite your network, build online
                                      clubs, share information.
                                   2. Search your targets
                                      Use the search engines, find the shortest path, be open
                                      for random contacts
                                   3. Build a relationship
                                      Send messages, have a clear offer, follow-up off-line



                                       What Networks are available?

Hendrik Deckers - April 2005
                                                                                            The (very) Long List

                                          13stripes - Affinity Engines - Amigos.com - AOL: People and Chat Directory - AsiaFriendFinder - Backwash -
                  Too many networks ?!!
                                          bianca - Bolt - BuddyPic.com - BuddyBridge - BuddyZoo - Building an Online Community: Just Add Water -
                                          Bumi-n City - Buzznet - Classmates.com - CNN Interactive Communities - CommunityZero - Company of
                                          Friends - The Conneck - Contact Network - Corporate Alumni - CouchSurfing - CPixel.com - Cybertown -
                                          del.icio.us - Dogster - domeus - dudecheckthisout.com - easeek - Ecademy - eConozco - EdGateway
                                          Communities - Edgeofeverything - eFriendsnet - 8minuteDating - Eliyon - enCentra - EnterNexus - EntreMate -
                                          Eurekster!, - Everything2 - everyonesconnected.com - eyebees - FaceParty - Findapix - FollowMrsPoon.com -
                                          FriendFan.com – FriendFinder – Friendifieds – Friendity - Friend Surfer - friendsreunited.com - Friendster -
                                          Friendzy - Full Moon Webs - FunHi - firsttuesday.com - GoingProfessional - Groups@AOL - Growth Company
                                          - Gruuve - heiyou.com – HelloWorld - hipster Huminity - ICERED - I’m Not From Here - IndianFriendFinder -
                                          InterAction - iSawYou.com - ItsNotWhatYouKnow - KnowMates - LianQu - LinkedIn - Link Silicon Valley -
                                          livingdirectory.org - Local2Me - thelunchclub.net - Makeoutclub - Many 2 Many - MapPlanet.com - matcheroo -
                                          Meatball Wiki - Mediabistro - Mediachest - Meet Up - MixerMixer - Monster Networking - MSN Groups - MSN
                                          Member Directory - MySpace – mrNeighborhood - MyEMatch - New Friends in Town - NetMiner - Netmodular
                                          Community - Netparty - Networking For Professionals - nerve.com - nlinebusinessnetworking.com -
                                          Nowwwhere - Online Community Report - Open Business Club - OrderGenerator - orkut - PalJunction -
                                          Paradise - Petsburg - Picit.com - Pinoy Exchange - Pinoy Forum - Playdo Community - PLINK - Polypol -
                                          PopMates - PowerMingle - RateMyBody - RateOrDate - RealContacts - ReferNet - RepCheck - Ringo - Ryze -
                                          Shortcut - Silicon Valley Pipeline - socialcircles.com - Social Grid – SocialTree - The Spark -
                                          SmartGroups.com - Spoke Software – The Square - StayingClose - StumbleUpon - Sullivan Executive
                                          Networking Community - Tacit ActiveNet - Talk City - TENG - Thefacebook - TheFence.com - There -
                                          threedegrees - Tickle - Tribe.net - TruthBytes - UUFriends - Virtual Communities and the Internet - Visible Path
                                          - Volume.com - waferbaby - Wallop - Webstock Whole Earth Festival - Well, The - WildAbout.com -
                                          WisdomBuilder - WhizSpark - WiW - WordofMouthConnection.com - World Lounge - WorldShine - YeeYoo -
                                          Yahoo! Groups - Yahoo! Member Directory - Zamboozle – Zanpo – Zerodegrees


                                                                                thesocialsoftwareweblog
Hendrik Deckers - April 2005
                                                                                 4 Categories

                               Online Social & Business Communities   Search engines for people and relationships
                                    BUSINESS Communities                  Online Business Directories




                                                                          Relationship Management Tools



                                      SOCIAL Communties




Hendrik Deckers - April 2005
                                             Online Business Directories

                               > What are they?
                                  > Yellow Pages of Business People
                                  > Referral system using the Six Degrees
                               > Which one should you use?
                                  > LinkedIn (www.linkedin.com) is the clear winner with
                                    2.000.000 users (fall 2004)
                                  > Keep an eye on ZeroDegrees (www.zerodegrees.com)
                                  > Spoke (www.spoke.com) has stept out of this race

                                                                   Business Networking Platform




Hendrik Deckers - April 2005
                                      Relationship Management Tools

                               > What are they?
                                  > Software Tools to manage & exploit your relationships
                               > Which one should you use?
                                  > Personal tools: Plaxo (www.plaxo.com) is the clear
                                    winner in the personal relationship management tools
                                  > Corporate tools: No winners yet, we are still very early in
                                    the adoption cycle.             Relationship Management Tools




Hendrik Deckers - April 2005
                                                       SOCIAL Communities

                               > What are they?
                                  > Online (virtual) communities where people connect for
                                    social purposes first, business second
                               > Which one should you use?
                                  > For business: none of these
                                  > For pleasure: try Orkut (www.orkut.com) & Tribe
                                    (www.tribe.net)


                                                                       SOCIAL Communities




Hendrik Deckers - April 2005
                                                   BUSINESS Communities

                               > What are they?
                                  > Online (virtual) communities where people connect for
                                    business purposes first, social second
                               > Which one should you use?
                                  > 3 international players
                                      > Ecademy: started in UK (www.ecademy.com)
                                      > openBC: started in Germany (www.opoenbc.com)
                                      > Ryze: started in US          Social BUSINESS Communities
                                        (www.ryze.com)
                                  > Many local players
                                      >   be: Biztribe
                                      >   fr: Viaduc
                                      >   sp: eConozco
                                      >   sw: Shortcut



Hendrik Deckers - April 2005
                                                            The Importance of
                                                    Online Business Networks
                          Business Interactions                                 Business Networking

                                                                     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 - April 2005
                                          Top Ten Tips for Networking

                               1.    Collect people
                               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 - April 2005
                                                    Top Ten Online Business
                                                            Networking Tips

                               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 - April 2005
                                                                   The beauty of
                                                       online business networks

                               Online business networks are changing the way we do business:

                               1.   Time independent: 24/7/365
                               2.   Place independent: from you pc – stay at home
                               3.   Local & Global
                               4.   Targeted: use keywords, companies names to find the right people
                               5.   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.
                               6.   Competitive: Stand out as you have competition. Visit others in
                                    your field and see what they have. Copy from the best!
                               7.   New: start now, then you are ahead of most of the universe. You
                                    will be established when others catch on.
                               8.   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.
                               9.   Efficient: you can connect online with far more people than you
                                    could ever meet face to face on a daily basis.

Hendrik Deckers - April 2005
                                                                                      Contact me

                                                             Hendrik Deckers
                                                             www.hendrikdeckers.com
                                                             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 - April 2005

								
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