NETWORKING

by J.B. Bernstein @JBBERNSTEIN

Your most important asset as a salesperson is your resource inventory, yet somehow in our fast paced days of regular business, most people neglect theirs.

Resource Inventory is basically a fancy way of saying your network. People talk about networking but they rarely break it down to understand that it is more than just how many connections you have on LINKEDIN.

In my mind there are 3 types of connections:

Nepotism Connections - These are contacts you have through your family and through friendship, and they are usually the strongest connections (i.e. they will go the furthest to aid your in success).

Created Connections - These are contacts that you have developed through doing business and through your own networking efforts.

Third Party Connections - These are contacts you don't have a direct relationship with, but can get to through your Nepotism or Created Connections.

There are many ways to grow your network. You can use networking sites, industry events, trade magazines, or just pushing your current contacts for introductions. One of the tactics that has worked well for me is developing a target list. I create a targeted list of contacts that I would like in my network, and then I have a rule. I try to make 5 new contact calls a day. My only goal is to create a connection where I have an open door to that person going forward if a time arises when I need them. That is 20 new contacts a week, or 1000 new contacts a year (based on 50 weeks).

In addition to growing your network, you also need to constantly maintain your network. Here are a few ways I use to try and keep my network current.

1.     Trade Magazines - Make sure you read the trade publications regularly and check the section where it updates "People on the Move". You can see each week who got promoted, and who changed jobs. In both cases, it is always good to shoot off a congratulations email. You can also shoot off an email or call when someone you know is recognized in the media for an accomplishment.

2.     The Pop In - I like to make sure I call or drop an email to my key contacts on a fairly regular basis. A great example is a fellow agent I work with on average 1 time per year. That being said, I still make sure i touch base with the 6-10 times a year.  Even if I don't have a specific agenda, I just want to make sure their info is current and our connection is fresh. You will always have a special level of regret when you get an opportunity that requires the help of an old contact that you have not kept in touch with.

3.     If You're On, Check In - If you take part in a networking site like LINKEDIN, make sure you check your messages regularly. Since most people on that site actually use it with frequency, being a casual user can backfire. If someone sends you a connection request, net getting back to them for 20 days, could send the wrong signal. Even worse, if you respond to them before they get to take their finger off the send button and you look desperate. Bottom line is that if you are using networking tools check them frequently, but strike a good balance on response.

Good luck. I have to go check my LINKEDIN account.