Resist Coin-Operated Networking

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When networking, do you only talk to those who can give you the most in return? Do you only give your business card to someone who you will bring you a ton of referrals? Do you only give referrals if you know you’ll get them in return?

If this sounds like you, you are doing it all wrong. Networking is not a vending machine. You don’t put in coins into the machine and get a candy bar every time–sometimes, you have to wait for your candy.

This mentality is called “transactional networking,” which is going to get you nowhere quickly in the world of referral networking. The “I will give you this, now you have to give me that,” point of view is only going to leave you sorely disappointed.

Instead, the proper mindset is, “Let me help you. I’ve got some ideas. I have a referral for you.” Over time, they’ll give it back you when the opportunity arises. This mentality is called “relational.” Keeping score or holding a referral back because you haven’t received one in return won’t always work, but thinking about giving before getting and making it the foundation of your business reputation, will.

Let’s take a closer look. If you’re keeping score and have given two referrals, but only received one in return, you might be a little disappointed. But consider the value of those referrals. You can’t simply go by the numbers. Two referrals to a florist are vastly different than two referrals to a real estate agent. By the same token, we don’t think it’s realistic to expect $1,000 worth of referrals from someone just because you passed them referrals of that amount.

By applying the Givers Gain philosophy, you will make your referral relationships relational rather than transactional and find success in this relationship. Let’s say there’s somebody you don’t know well, but you want to know that person better and build a referral relationship. You think this person may be able to help you and you know you can help them. You don’t start a referral relationship by asking them to sign a contract that for every referral you give him, he has to give you one in return! The way to start the process is to give.

I understand the hesitation to give referrals to someone you don’t know well–but giving doesn’t have to start with a referral. It can start with a conversation. If you’re having a conversation with a possible referral partner and they express a problem they may be having, you might say, “You know, I just read a great article on that. I’ll email it to you.” You hand them your business card with your email address on it, they do the same and –voila! A connection is made through giving.

 

Read the complete article from Dr. Ivan Misner on Business Networking

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