It's Too Time Consuming
Networking can definitely take up a lot of time, especially if you don't know what you're doing or if your networking efforts are somewhat random. It's a lot less time consuming if you have a target market and set goals while going to the right places, saying the right things, and meeting the right people. It's even less time consuming (or can be) if you have a system in place so you're focused and efficient with your time. I know people who attend every networking event imaginable and spend a ton of time doing it. For some, events can be fun and feel rewarding because you're doing something and there are other people in the room. It can feel good, especially if you thrive on the social aspect of networking. But the time invested needs to produce results or be rewarding in some way. It's not about networking more but perhaps networking better – quality versus quantity. Better events. Better people. Better opportunities. Better use of time.
Too Busy
Just about everyone is way too busy. When will that ever change? And are you “good” busy (writing a lot of business or studying a lot of information) or “bad” busy (keeping yourself occupied or doing busy work)? If you're waiting for the time when you're not too busy, good luck! Truly busy people (the “good” kind) always make the time to get the right things done. Are you too busy because you're doing all the business you want, with the clients you want, with the margin you want, on the terms you want? Or are you too busy because you're busy trying to become busy?
There are two types of busy – there is activity busy and there is the kind of busy where you're getting paid for what you do. Which do you prefer? If the latter is the case, networking is absolutely the best way to meet the right people, ask the right questions, and ultimately work (as in get paid) with the right clients. Financial advisors who are new or struggling in their areas of business very often kid themselves into thinking they're too busy, or they do things for the sole purpose of being busy. So I tell them, “If you have more business than you can handle, then maybe networking is not for you.” That always gets a laugh. Are you in that situation?
Being an Introvert
Many times, people think they can't network. They say to me, “Okay, speaker boy, we know you can get up there and put a word or two together. Networking probably comes easily for you. I'm more of an introvert, kind of shy, introspective, analytical. This networking thing isn't for me.” I get what they're saying. It might come across better from someone who's a bit more outgoing, but many of the people I know who are brilliant networkers are also analytical, introspective, and introverted. You don't need to be the life of the party to be a good networker. You just need to know where to go, what to say, and with whom.
Being introverted or analytical often becomes an excuse. I'm not saying networking is easy. Yes, starting conversations with complete strangers may be easier for someone who's outgoing. But it doesn't make them a good networker per se. It actually could make them bad networkers. Outgoing people can chit‐chat, have a good time, and socialize. But are they paying attention to the strategic aspect of what networking is? Are they trying to help people? That's an important distinction. I find that analytical people are better at parlaying an initial conversation into an ongoing process – following up, staying in touch, and ultimately generating business, a job, or whatever.
At a CPA event I spoke at recently, I talked about how a lot of people think they can't network. I wanted to address this because I knew that it was on many of their minds – many CPAs are introverted and analytical, left‐brained rather than right‐brained. I knew if I didn't speak about that right up front, that is what they would be wondering. And they might be discounting what I was saying because they couldn't get past that: “We know you can do this, but it's not for me. I'm a debit and credit guy.” Just learn the process, find your style, get busy, get good, and get confident. Yes, it can be that easy!
Not Sure Where to Go
The reality is that you don't ever have to leave your office, computer screen, or cell phone to network. You can connect with people on LinkedIn. You can call, email, or text prospects, clients, centers of influence, and even have a coffee meeting through Zoom. If you're already established or have a vast network, you may never have to leave the comfort of your cell phone.
Of course, if you're new in your role and not well networked, you may have to go to meetings, events, and mixers. When you're getting started or looking to take your business in a different direction, it may be important to get in the car and drive to a place where people hang out. On one hand, anywhere that people hang out is a good place to go. On the other hand, it pays to be particular about where you go to meet the right people. The question then becomes, “Who are the right people?” The right people thing is important because once you figure out who you need to connect with it will help you determine where you need to go. The best sales producers tend to fish in the right ponds, so the sooner you determine where to drop a line, the better! There are plenty of networking organizations, business groups, and association meetings for pretty much any profession you can name. Just visit Google, press the buttons, and go.
Not Sure What to Say
The best thing you can do when you meet new people is to ask them questions about themselves. People love to talk about themselves. When you are networking, you should be in the business of learning about people. The more genuine interest you show in others, the more they may show genuine interest in you. Interesting, huh? What's the best way to learn about other people? Ask questions about their work, play, goals, accomplishments, interests, associations, and skills.
All your communication around networking will ultimately impact your introductions to others, your introduction from others, questions you ask, the answers you give, the stories you tell, the exchanges you share, the fun you have, the connection and rapport you establish, the value and trust you build, along with following up, getting to know one another, and a regularity at staying in touch. That's a lot to think about – in fact, that's the networking circle of life right there! There is so much critical information in that one sentence. The truth is most networkers (even some really good networkers) miss a beat when it comes to some of this stuff. I'll be breaking down all the details in the coming chapters.
Not Sure Who to Meet
At first, it might be best to meet the leaders or coordinators at events. How bad can it be to meet those who are in charge who happen to know everyone? After that, get yourself introduced to the best networkers in the room. That's how I got started. I met the leaders in some local networking groups and after learning about their roles, responsibilities, and focus, I asked if they could introduce me to the best networkers in the room. And you know what? They did! Those terrific networkers showed great interest in learning about me and making me feel more comfortable. I learned so much from them about local groups and about networking. In fact, as great networkers they introduced me to other great networkers. That's how it works!
Before I knew it, I had a vast network and I started getting referrals to speak at events. In fact, some of these connections that I made nearly twenty years ago are directly responsible for many of the friendships I have today and helped me architect my work as a networking educator. As you get more focused on who you want your clients to be, you can become more focused on those you need to meet.
Please don't let any of the “reasons” mentioned here be your excuse for not getting better at networking or not making networking an important part of your marketing plan to grow your financial practice or develop your book of business – whatever business you're in. Making these excuses will only prevent