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#1 networking rule: Practicing the 80% rule

December 21, 2008 By Mark

If you think someone is important with whom to network, then chances are you are not alone.   Those people will be well sought after.

How do they decide with whom to share their networking contacts?  Assume you are on par with the other candidates in being polite, prompt, etc.  So what will set you apart?

Make the meeting a true networking meeting where both people feel they have gotten a benefit by practicing what I call the “80% Rule”.   80% of your networking should be figuring out what you can offer the other person.

My friend, Jeff Arnesen of Houlihan Lokey, one of the best networkers I’ve met, tipped me off : Give first, get second.    With 8,000 contacts, Jeff can offer more than the average networker.   He offers them when he feels the person with whom he meets is there to build a relationship.

This is how you should start the meeting and set the tone that you came to network, not just to get three or four more names with whom to network.   Trust me, with 400+ networking meetings under my belt – you’ll get those names and then some.

If you take care of your networking contact – they will take care of you.   Learn about their business, what is a target client, how do those clients make decisions, and what is a good networking contact for them.   Then think about the people you’ve met or know – is there someone you can connect them.

See the toolkit for ideas on 80% Rule on the types of connections you can make for different people you meet.

Filed Under: E. Meetings: Before, During & After Tagged With: 80% Rule of Networking, Search

How to set up a meeting via e-mail

December 15, 2008 By Mark

When I started my search, I left loads of voicemails requesting to meet.  Most went unanswered.   So I switched to sending my invites to where people spend most their time: the Blackberry.

In the toolkit is a template for a networking e-mail to set up a meeting, this format lead me to get about 90% of my e-mails returned and meetings set up.

The template explains in more detail, but here’s why I think it works well:

·         Using the person who referred you in the e-mail title – gives them a reason to open the e-mail

·         It’s very short, only two scrolls on a blackberry

·         It is very focused: Why am I writing, What I seek to do, What is the next step

You will notice in the template, that I do not give any of my background or attach a resume.  The focus is to get a meeting, save your background for when you meet.   Though there is one trick for getting your background, read “The Stealth Resume – Your LinkedIn Profile URL”.

Filed Under: E. Meetings: Before, During & After Tagged With: Setting up meetings, Using E-mail

The Stealth Resume – Your LinkedIn profile URL

December 15, 2008 By Mark

When sending your initial networking e-mail, be sure to add your LinkedIn profile URL to your e-mail signature (e.g. name, phone number, etc. – at the bottom of an e-mail).

Here is why I like adding this to your e-mail signature:

·         Gives your networking contact a simple method to look at your background

·         Your LinkedIn profile is dynamic – you can change it daily to reflect where you are in your search

·         Your profile can include more than work history, but also your targeted role and key skills

With the wide usage of LinkedIn, the URL to your profile is becoming more commonplace – so put it to use for you.

You can change the LinkedIn URL – www.linkedin.com\in\stevesmith

Filed Under: E. Meetings: Before, During & After Tagged With: Linkedin, LinkedIn URL, Meetings

Preparation for a Meeting

December 15, 2008 By Mark

Think of every networking meeting as a sales meeting.  You’ll never catch a good salesperson just ‘winging it’ – they plan every meeting.   They find out what they can about who they are meeting (this is where LinkedIn comes in handy).   They plan the outcome and how to reach it.   They respect that someone has granted them time and use it effectively as possible.

You are competing against budget requirements, project deadlines, and anything else that is filling your networking contact’s day.   Good advance planning will help cut through all of this and help you make the most of each meeting.

Before each networking meeting, plan the following items:

·         Purpose of meeting – what do you want the person to do for you (provide some contacts, connect you into a specific firm, etc.)

·         Connections with this contact (your colleagues, same school, etc.)

·         How do you want to position yourself to this contact (e.g. role in large company, role in start-up, etc.)

·         Contacts you can provide

·         Contacts this person can provide to you

I wrote down these items and brought them with me to the meeting – nothing too fancy, just a few items for each item.

To help you understand more about the company the person you are meeting does, see “The question that ends a meeting quickly”.

Filed Under: E. Meetings: Before, During & After Tagged With: Planning a meeting, Using LinkedIn

How to use LinkedIn for networking & preparation

December 15, 2008 By Mark

I love LinkedIn for networking.    The first time I read Guy Kawasaki’s overview of using LinkedIn (See www.guykawasaki.com – search his Blog for ‘LinkedIn’), it was real eye opener. 

For networking, the tools is great for finding people who have a vested interest in you (usually the most powerful connection) and connections into people you want to meet.

Where Guy expanded my view was how to use the tool for researching a person you will meet and the role that you will interview or would like to have if they had an opening.

In researching someone’s background you may find:

·         Common points of interest:  These items help get the conversation started (schools, work, travel, interest, boards, organizations, etc.)

·         Commons contacts:  LinkedIn shows how you may be connected to this person.  Many times there may be someone in your network who is directly connected to the person you will meet.

·         Work history:  Knowing a person’s work history can tell you quite a bit about the level of responsibility, types of work cultures they prefer (or not),  how long do they stay at a firm, etc.

Each of these items help you prepare for a networking meeting or interview.   You avoid asking questions that take up valuable time.   More importantly, the greater your knowledge, the better you can prepare, connect with the person and anticipate questions.

Filed Under: E. Meetings: Before, During & After Tagged With: Meeting preparation, Preparing for a meeting, Using LinkedIn

Anatomy of a Networking Meeting

December 15, 2008 By Mark

In the toolkit is an outline on how to run a networking meeting.   As I started my networking, I realized that I was too often trying to squeeze in giving or getting connections or trying to jam in a last few comments at the end (Tip: Once someone stands up, their receiver is turned to ‘off’).

Use this outline to help organize your meetings and adjust the timing or order based on your contact.  For example, if you are meeting a former colleague, you may not need to review your experience in detail – but use it for identifying possible connections.

Two recommendations:

·         On the order:  Keep the focus on your contact to start the meeting, so you set the tone that this is truly a networking meeting.   See “Practicing the 80% Rule”.

·         On taking notes: It’s all you – even if they take notes – record all the action items.

Filed Under: E. Meetings: Before, During & After Tagged With: Anatomy of a Networking Meeting, Networking Meeting

The Other Side of Table – What I Expect from Candidates**

December 15, 2008 By Mark

Tim Tracey, Bernstein in Minneapolis, has been in transition so he repays the helps he got by actively networking with fellow candidates.  He also makes his living by networking to find clients.  He both understands and practices networking more than all of us.  Tim and I are co-writers for this post.  My thanks to Tim for sharing his experience – MJR.

When it comes to networking with candidates, Tim has experienced a wide range of styles and readiness.  Here are the five items that he recommends to make a meeting go well:

1.       Don’t force the meeting on your schedule.  If you have a tight schedule, then give the open times in your calendar when setting up the meeting.   Also, your contact will likely schedule a time that allows them to network – not before an important meeting where their attention will be elsewhere.

2.       Send a Resume or Marketing Plan in Advance.  Like yourself, your contact will like to do their pre-planning.   Put your LinkedIn profile URL in your e-mail and send your documents at least two days before the meeting.      

3.       Don’t Ask for a Job When it is NOT an interview.   This can lead to a quick end to the meeting as you force your contact into an uncomfortable position of saying “No”, especially when discussing a position was never part of the meeting’s purpose.

4.       Do Your Research.  An unprepared Candidate is pretty obvious and makes it very difficult to network with them.

5.       Have a clear and crisp Pitch.  Practice, practice, practice.  Remember you are selling yourself – so make the pitch powerful!

As a funny story using #3 and #4:  Just prior to our meeting, Tim has a networking meeting where the candidate first asked Tim if there was a job for them at Bernstein.   This was followed up by the candidate asking Tim what Berstein did.

Filed Under: E. Meetings: Before, During & After Tagged With: How to prepare for a networking meeting, Networking Meeting, Preparation for a networking meeting

Follow-up to a meeting

December 15, 2008 By Mark

Networking is a roller coaster.  An empty week can quickly fill up or slow down.  Meetings can turn good and bad unexpectedly.   All I know is when I got to Friday, I was dead dog tired.

I made the mistake early on in my search to use Friday afternoon or Saturday to do all of my follow-up – thank you notes, etc.    I was doing this work when I needed a break.

Carve out time specific points in the week to do your follow-up.   Trust me, it’s easier.

Here is my outline to a follow-up note.

·         Simple thank you and “Here are the follow up items”

·         My follow-up items

·         Their follow-up items

·         Any points of interest or personal connections you made (e.g. you both sail, same school, etc.)

Remember that the e-mail is likely to be read on the blackberry so you need to make sure in the first screen shot they understand the e-mail contains follow up items.

Save the follow-up to funny stories, etc. to the end.   They are important connection points, but not the intent of your e-mail.   The intent is to get your contact to follow up.

Filed Under: E. Meetings: Before, During & After Tagged With: Follow-up to meetings, Meetings

Networking Meeting – What’s Interesting and What’s Relevant

December 15, 2008 By Mark

Here’s how I rated my networking activity:

Getting an introduction – Interesting

Setting up meeting – Interesting

Preparation for the meeting – Relevant

Having the meeting – Interesting

Actions following the meeting – Relevant

 

The preparations before and actions following are where to focus your attention as they have the most benefit toward getting results.    Here are three tips to help you:

One: Schedule time on your calendar to prep for a meeting – I cannot emphasize how important this is.

Two: Spread out your follow-up across your week.  Try to avoid waiting until Friday to send all your follow-up notes, by then you are usually tired and less effective.

Three: Record all of your prep and follow-up.  As your networking continues, trust me that things tend to run together you cannot remember everything – no matter how good your memory!

Here are two tools I developed during my search, to prep and follow-up:

·         Networking Meeting Checklist

·         Daily Point System

Hopefully, these will serve as good starting points for making something work for you.

Filed Under: E. Meetings: Before, During & After Tagged With: Networking Meetings

The Networking PUNCHLINE: 3 Question Test after a meeting

December 15, 2008 By Mark

At the conclusion of a networking meeting, my goal for the person I met is be able to answer three questions about me:

1.       What are the top 2-3 unique skills I possess?

2.       What job am I seeking?

3.       What connections do I need?

I adapted this style after asking several people these questions.  The result was mixed.  So I took a new approach to the meetings, I tried to deliver these items three times.

To eliminate interference to this message, I eliminated details around my career.   I found it was unrealistic to expect a busy person (with loads of other items on their mind) to sort out these points as I droned on about how I did this or that.

As I look back at my 600+ networking meetings, no one has ever said to me “I’m looking for a self-starting thought-leader who led a cross-departmental team and saved at least $2 million through an integration project”.    I get something like “I want a CFO who has international experience in the service industry”.

Help your contact help you – Keep your message simple and repeat it so it sticks in their mind.  Leave the details to your resume, LinkedIn profile, blog, etc. 

Filed Under: E. Meetings: Before, During & After Tagged With: 3 Question Test, Networking effectiveness

How the networking story worked out…let people know

December 15, 2008 By Mark

We all like to know how a story ends.

The same is true for networking leads.

So let people know who gave you the networking leads how they worked out.

For me, those notes from people saying thanks really make my day.

The added bonus for you:  These notes are about positive connections, so it’s good for the psyche.

Filed Under: E. Meetings: Before, During & After Tagged With: Follow-up to meetings, Meetings