Business networking for Vice President is one of the most effective marketing and prospecting method you can use to grow your business. But if done incorrectly, it can be harmful to your business.
Business networking is a lot more than giving out business cards. It is about building trust. For Vice President the networking is a lot more than meeting people. It is about connecting with the right people.
Business networking is a lot more than collecting phone numbers. It is about staying in touch, about listening, addressing needs and looking for opportunities all at the same time.
Top Five Tips On How To Network With Senior Executives
It is how as a Vice President we approach relevant business networking sessions that makes it work for us. Networking is about being authentic and genuine, building relationships and trust, and helping others. Although increased sales is the end goal, don’t participate in business networking to sell.
Build relationships and sales will follow naturally. People have to trust you before they’ll do business with you or refer you. Relationship capital is an immensely valuable part of business success. Put your energy, intention and attention on business networking.
In my experience of 20 years in consulting and industry, a typical successful Network Marketing guy would have the mindset of the owner of a mid-cap global company. Since you don't find many such people living next door, peoples difficulty in comprehending what they do - and this business - is natural. But if you look at any business, you will agree, here's what business needs:
2. Marketing Strategy
3. Training / Operations
4. Finance and
Let us look at each of these in the context of Network Marketing.
The product for network marketers is wide open. Anything can flow in the network. To give an example, in a telecom network, once your cables are laid, you can flow data, voice, video, text... whatever, through them. Similarly, a network marketer is actually in the business of laying the cables... comprised of consumers consuming good quality products. The focus is to maintain the robustness of the cable... the product per se, is immaterial. Several thousand international brands have partnered with Quixtar for instance, to tap into the strength of the networks Quixtar business owners have built. Numerous companies have partnered online through affiliate-ships for the same reason. So as a network marketer you can be sure you will always have a great product... or in fact various product lines... which would then be the least of your worries.
#2 Marketing Strategy
Since this is my pet subject I can write for hours on it but I won't. Because the strategy for success in network marketing is to reduce individual work and increase System work. By allowing a System to work every Network Marketer can leverage more from the team than by charting their own strategies. Robert Kiyosaki recommends Network Marketing so passionately because the marketing strategy is set in place by a System. True network marketers will search for a system for success and abide by it... and in doing so would change their everything... from mindset to finances to relationships!
#3 Training / Operations
Those of you who have engaged consultants in your business (and I mean like plumbers and baby-sitters in the business of running a house) know exactly how expensive this can be. But in Network Marketing you get Free operating advise from extremely successful business owners! Because they have a vested interest in your success. Every action of yours... the cost-benefit... the effectiveness... the impact... is well known in advance and you can follow footsteps to operate like the best.
This I believe is the most undervalued bonus of Network Marketing and for me personally, this alone has been worth a fortune. It is this advise that builds the mindset for leadership in all walks of life. And once that develops everything else is a cakewalk!
For any business to provide larger turnover and profit, the costs of operation increase. Right? Not so in Network Marketing. Here, though the business expands exponentially, the expenses remain at the same level (usually quite nominal and risk-free). Consequently this is the only business where you can be absolutely in control of cash-flow planning and growth. Which is a severe stress-point in any other business.
Secondly, since network marketing is a B-quadrant business (ref Robert Kiyosaki), the money comes in much after the work is done. It's like in farming, where you plant the seeds in one season and harvest the next season. This ruffles up a lot of people who are used to money-for-effort like in a job or sales (no guarantees about that now though. And this is why one must be open to training, to develop the mindset of the rich!
This is one area where traditional business and Network Marketing differ rather significantly. In a traditional business you 'pay' people to follow instructions. In Network Marketing you 'inspire' people to do that.
You yourself do what needs to be done and teach others how to duplicate the simplicity of that. This is why network marketers are basically in search of open-minded students. Just like the Rotary Club is in search of socially inclined business-persons and the Art-of-Living Community is in search of people willing to be navigated to a higher consciousness.
Net net, the business of Network Marketing is boundless and in 75 years of its presence on the planet we have barely scratched its surface. The business model is in search of an army of volunteers with an abundance mindset and a higher consciousness to awaken society and herald revolutionary change. Historically, such movements take a century on the make... and so the time for the Network Marketing movement has come!
PS: Business is business and network marketing - for its wonderful nature - is business 2.0... but network marketing as an instrument to uplift world consciousness is Business 2.1 and you can take it there! Contact me to know how.
Identify which networking events you should attend. Pick groups that’ll help you achieve your goals. Find venues that make sense for your business. When you register for an event, schedule it like a meeting.
Determine how often you should be networking. How many times in a week, month, or quarter? Visit as many groups as possible.
Attend events with a plan and always try to learn something new. Prepare yourself for the event. Develop open-ended questions to ignite a conversation. Bring business cards but don’t give your business card to everyone you meet. Give cards to those who ask you for it. Try to sit with strangers. Don’t forget to mingle.
How Leaders Create And Use Networks
Keep track of people you meet. Keep in touch with them and deepen your emotional connection. Establish a mutual beneficial relationship with other business people and potential clients/ customers. Meet with the group members individually so you get to know them better and try to build quality connections. Consider other group members as resources. focus on the group; listen and think about how you can help them. Focus on giving. Build trust within the group.
The importance of selecting the right executive search firm should never be underestimated. Choose a wrong one and your organization may suffer costly delays in filling in a crucial position or be saddled with a new hire who turns out to be unsuitable for the position. To better gauge the fitness of prospective search firms, make sure you answer these questions.
What executive job search experience do you have?
Asking this question will give you a good idea on whether the prospective search firm has established expertise in the areas which are critical to the successful completion of your search. Certainly, the more examples they can share, the better. You need to have full confidence in an executive search firm's ability to attract high quality candidates who have the requisite qualifications and skill set for your specific need. What are your search methodologies, and how can you apply them to my requirements? Discussions with prospective search firms should center on how they intend to go about filling your job requirements. Urge them to be as specific as possible in explaining their strategies in identifying and attracting candidates and to what extent they can offer recruitment guidance for your organization and the candidates.
How will my organization interface with your firm?
It will also be helpful to obtain a detailed account of the processes and mechanics of your partnership. This should include a clear designation of roles and responsibilities, appointment of a dedicated project or recruitment manager, setting up of project milestones, submission of progress reports and schedule of meetings and consultation. You will want an executive search firm that is willing to communicate with you and address the search in the manner which is most beneficial for you.
What is the expected time line?
Corollary to a detailed scope of responsibilities, is an assurance of sticking to a time line that works for both parties. The time-critical aspects of the recruitment activities should balance out with your schedule and that of the firm's. Good executive search firms will readily offer an honest assessment of the time necessary to conduct a thorough candidate search.
How involved will you be in candidate negotiations?
Search firms vary in willingness and expertise in liaising between the hiring organization and a candidate in the final negotiation stages. It's a tricky area to navigate, and you'll want a search firm that can represent and communicate the best interests of both your company and the candidate you wish to hire.
What are your fees?
You need to understand how the executive search firm will bill for its services. A retainer-based approach is often ideal as the expenses can be spread out over the course of the project, although some firms are known to accommodate charging a flat fee for certain projects. Billable items should be scrutinized and should amount to a compelling package of high value services.
A Few Things to Remember
The key thing to remember when evaluating prospective search firms is to be as clear as possible in explaining your requirements for the position, your own expectations and the kind of involvement you're capable of contributing to the process. Tailoring each question according to your organization's specific needs will also help you obtain the answers you need and from there make a well-informed decision.
Do not expect to receive benefits right away. Do volunteering work for network groups to stay visible and give back. As a responsible Vice President you must show up regularly and on time, show others how you deal with business meetings and associates. Give quality referrals and leads. If someone gives you a referral, follow up on it in a timely manner. Follow through quickly and efficiently on referrals you are given. Take a referral seriously.
Don’t spam on social networks. Use the platforms designed for Vice President to build relationships and expand your network.
Limit self-promotion. Don’t sell. Build relationships. Be as helpful as you can. Share relevant information with others as people love to learn new things. Participate in discussions. Let others know you’re real. Be approachable. Treat your online connections just as valuable as your offline connections.