Tuesday, December 15, 2009

Some Assembly Required: A Networking Guide for Real Estate

Coming in 2010 --- The third book in the Some Assembly Required book series:

"Some Assembly Required: A Networking Guide for Real Estate"

Co-authored with one of the country's top real estate brokers, Chad Goldwasser, this book will help those in the real estate profession jump start their business relationship efforts.



Have A Great Day.

thom

Monday, December 14, 2009

Industry Leadership Does Not Mean You Have Good Customer Service

When you are having an issue with a vendor, and they keep reminding you that they are "the industry leader" in response to problems you are having in disagreement over their policies -- this might be a sign that they will not be "the industry leader" for much longer!

Industry Leadership does not mean anything if you are making a client feel like he is the bad guy over a minor problem that could easily be remedied.

Have A Great Day.

thom

What's Next?

What's next?

This decade is coming to an end.

It came in with all the attention on Y2K and is going out with our world forever changed. Many things, big and small, have morphed our society: The terrorist attacks on 9-11, the mass adoption of cell phones, and the changes in communication due to social media are just a few things that have impacted the ways we live.

Trends come and go. Products and services rise and fall in their impact. Everything has been changing since the beginning of time.

New York Magazine has a current list of the things that have gone obsolete from our lives in the last ten years. This includes:

The Rolodex - We all have databases and cell phones where we keep our contact information.

The Answering Machine - Voicemail in our phones has replaced the need for a separate machine.

The Lickable Stamp - Self adhesive rules the day.

Foldable Paper Road Maps - Three letter: G-P-S.

Cathode Ray Tube Television - Flatscreen TV's outsell the old style now.

Incandescent Light Bulb - Already banned in Europe for environmental reasons, will soon be phased out in US.

Paid Pornography - They claim everyone gets their porn for free.

Smoking in Bars - Hmmm, I guess that depends on where you live.

Fax Machine - It was just a fad. A 25 year fad, but gone none the less (we all use email and PDF).

Hydrox Cookie - What? I didn't even notice, but it is true.... one can only find Oreo Cookies now. I loved the Hydrox. RIP.

Cassette Tape - Now with it's distant cousin the 8-Track.

French Franc - Euro.

Floppy Disc - I remember when thumb drives appeared, now they are king.

Phone Book - One just arrived on my porch last week. They had merged the white and yellow pages into one, as there is no advertising in it any more. Hello Google.

Polaroid Photo - Don't count Polaroid out just yet, they are looking at releasing some new products.

Bank Deposit Slips - Ummmm I still use these.

Subway Token - I live in Austin, this city has avoided any real mass transit for decades, so I have no idea.

Interesting list of things that have gone away (or almost) in the last decade, but it makes me wonder what we will be talking about having had its time gone by in 2019.

Think about it. The phone book? Who would have guessed that this staple would now be a joke thanks to the internet and Google. Could Google be yesterday's news tomorrow?

The hot social media properties of Facebook, Twitter, YouTube and others could vanish as fast as they arrived when something new comes along.

Maybe the internal combustion engine could be gone in a decade as new ways to power transportation are discovered and fine tuned.

If the recession does not end, maybe jobs could become obsolete (okay, that was a joke)

I believe that the speed at which products and services appear and get wide spread adoption is increasing. The "new new" thing is coming... but what it it?

What is next?

Have A Great Day.

thom

Saturday, December 12, 2009

The Definition of "Know"

Over a decade ago Bill Clinton questioned what the "definition of 'IS' is"?

In today's social media world the definition of the word "know" is just as hard to grasp.

Everyone seems to think they "know" everyone else. I was recommending a professional speaker for a conference and the meeting planner said; "Oh, I know her... she is not the right fit for our needs". I was surprised, as I thought it was a great match, so I inquired deeper about how they knew each other. Turns out, they had never met. The meeting planner had never seen this woman speak. She had never read her book or blog posts. She had only "heard her name around town".

Hearing someones name does not mean you "know" them.

According to Dictionary.com, the definitions of know are:

–verb (used with object)

1. to perceive or understand as fact or truth; to apprehend clearly and with certainty: I know the situation fully.

2. to have established or fixed in the mind or memory: to know a poem by heart; Do you know the way to the park from here?

3. to be cognizant or aware of: I know it.

4. be acquainted with (a thing, place, person, etc.), as by sight, experience, or report: to know the mayor.
5. to understand from experience or attainment (usually fol. by how before an infinitive): to know how to make gingerbread.
6. to be able to distinguish, as one from another: to know right from wrong.
7. Archaic. to have sexual intercourse with.
(Bill Clinton almost knows Monica Lewinsky)

–verb (used without object)


8. to have knowledge or clear and certain perception, as of fact or truth.

9. to be cognizant or aware, as of some fact, circumstance, or occurrence; have information, as about something.

–noun


10. the fact or state of knowing; knowledge.

—Idioms

11.
in the know, possessing inside, secret, or special information.

12.
know the ropes, Informal. to understand or be familiar with the particulars of a subject or business: He knew the ropes better than anyone else in politics.
All of these definitions lead one to expect to more knowledge than a casual observation from afar.

However, with the overload of information available to everyone in this digital media age, people tend to take leaps from the casual to the intimate without cause or a second thought.

I get Facebook and LinkedIn requests all the time from people whom I have never had any contact. I have personal policy to not accept such link requests, as to have a huge list of strangers is no different than holding up the printed White Pages and claiming it is your network. You would have names, addresses and phone numbers of thousands of people allowing you to contact anyone in the phone book.

(Added: I do have people in my contacts with whom I have never actually met in person, but have had the "digital equivalent" because we have traded messages, email, read each others blogs, etc....)

But a real network is not a "Cold Call List". Knowing someone means you both share a mutual understanding of each other.

Here is a key example: I don't know Barak Obama. I know about Barak Obama. We have never met, we have not shared a beer together. I would never claim I "know" him, and if I did, people would know I was a fraud.

Are you a fraud in claiming associations and the definition of who is in your network?

Do you prejudge others based on no real information? Jumping to conclusions without actual knowledge does not make you look smart.... but we human beings do this all the time.

Next time you say "I know them"....ask yourself if you actually "know them". Often times you will discover you have heard some stuff, but probably don't "know".

Have A Great Day.

thom

Tuesday, December 08, 2009

Personal Rules for Social Media

Social Media can be overwhelming. From the outside it can seem like it is big time suck and waste of your attention.

However if you manage social media you can effectively creating real connections and cultivate mutually beneficial relationships that can (and will) help lead you toward greater success.

Rather than ignoring social media, one should embrace the power of the tools while setting personal rules by which they swim in the social media pool.

Below is a short video clip from a recent presentation:



Have A Great Day.

thom

Monday, December 07, 2009

Risk Has Rewards

Are you proud of never taking risks? Some people are pleased that they never try unproven methods for doing business.

If nobody ever took risks where would our society be today?

Risk has rewards.

Sure you could fall down, the best always do. But they get up and try again.

Duh.




Seven Steps To Setting Goals for 2010

Some people set goals. Others do not.

I have never met a person who is dedicated to the goal setting process, and reviews their goals regularly throughout the year, who does not believe that having clear, written and attainable goals is key to their success.

That being said, I have met many people who do not set goals who declare that goal setting is not beneficial. (But how do they know if they do not try it?). They just leave their success to chance. They have dreams and wishes, but no "North Star" by which to navigate their life. They drift. They see others victories as "lucky".

I believe that if you want to accomplish more in your career in 2010 (and beyond) you must take time in December to review 2009. Identify your success and areas where you came up short. Be honest. Clarify what you had hoped to achieve, and understand why you met or missed those desires.

Find focus for what you want in the new year. Looking forward, give some thought to setting goals that will make you push yourself harder than you have in the past. A goal should not be easy, but it should also be something you can reach. If you want easy success... play the lottery (but you probably wont win). Real success comes through hard work.

I have had friends tell me they don't set goals because if they don't achieve them it makes them feel bad. Huh? Don't try because you might fail? Oh my gosh, with that attitude nothing exciting would ever happen in the world.

My own experience has shown that even when I come up short on a goal, I still make amazing progress and do more than my competition. People ask me how I have written six books, I tell them it was a my professional goal to do so. I knew I wanted to do it, I wrote it down, then I went and wrote. I didn't just imagine it, I made it real.

The old saying "Shoot for the moon, even if you miss you'll land among the stars" (quote from Brian Littrell) is the whole point. I have not reached all my goals, but I have moved farther down the path toward my wildest desires.... and will continue to strive year after year.

If you do not know what success looks like, how will you know when you get it?

Here are 5 tips for goal setting:

1. Set aside some time (1-2 hours) to contemplate you past and identify what you want in the future. Make it a priority to know where you want to go in life.

2. Set two or three attainable goals in three areas: professional, personal and spiritual. You do not want to just be focused on business, as you have more to your life than meeting a quota. Do not set too many or to few goals, as this should not be too easy, nor should it be a burden.

3. Write your goals on paper, using a pen. Later, transfer them to you computer. Print three copies. One copy for you home, one for your desk at work, and shrink a third down so it fits in your wallet or purse.

4. Review you goals often. Daily is best, but at least once a week. Keeping them in front of you and actively thinking about them will make it easier to make the tough choices as you go through life.

5. Take action. Goals are not magic. This is not "the law of attraction" or "The Secret". To be a winner in life takes effort and action. You have to make smart choices on how to focus your time and resources so that you are moving toward your goals and not away from them. Sitting still does not work either, as stagnant never wins.

6. Celebrate victories. Anything that moves you closer to achieving a goal is worthy of treating yourself to something. A round of golf, a massage, etc... are great choices (avoid ice cream or other sweets as treats, as I did this once and gained a lot of weight when I was wildly successful on meeting my goals. This created a new goal of needing to lose the pounds).

7. Share you goals with others. When you tell people you are working toward something, you are more likely to follow through on the efforts necessary to reach your goals. When I was writing my first book, I told as many people as I could. Thus it was not as easy to abandon the project.

If you don't create goals and work toward them you will never know if the process will help you be more successful. If you do it and it does not work out the way you want, it will not harm you. Thus, you have nothing to lose, and a lot to gain.

Are you going to make excuses, ignore this post, or the try something new to lead you to more success in 2010?

Have A Great Day.

thom

Sunday, December 06, 2009

Tuesday Breakfast Seminar - Register NOW.

If you live in Austin, Texas, it is not too late to sign up for the Tuesday breakfast seminar - "Smart Networking in the Holiday Season and the New Year".

The event is sponsored by the Austin Business Journal.

When: Tuesday, December 8, 2009
Time: 7:30 - 9:00 AM
Location: Norris Conference Center
Cost $35

CLICK HERE to register.

(If they close the online pre-registration, you can always show up and pay at the door).

Please help me spread the "last-minute" word about the event. Tell your friends and co-workers.

The discussion will cover how to get the most out of networking while attending holiday parties over the next several weeks, and also will focus on how to get the most from your referral network in 2010 that will lead to more business in the new year!

I hope to see you there.

Have A Great Day.

thom

Saturday, December 05, 2009

Up In The Air

While I have not seen the new George Clooney movie, Up In the Air, I must compliment the PR Firm who is handling the press coverage for this movie. Whomever is on this account should get a raise, as they have had the actors and director (and theme of the film) getting a lot of ink and air time from the media.

Friday alone week I ran across five articles about this film. Three separate mentions were in USA Today, and two others in the American Airlines magazine. Earlier in the week I saw TV interviews and other print coverage. I know this, because I travel a lot, and I enjoy reading... thus such publications and Cable TV were in my view over the last several days as I traveled to both Las Vegas and Detroit in three days.

I am often in airports, planes and hotels, so I look forward to seeing the movie. I am sure there are things I will relate to when I watch it....although, unlike Clooney's character... I am fortunate to have a family to rush home to after each trip!

Back to the PR person for the film.... I admire anyone who excels in their job. PR is a tough field, and even when your product is George Clooney it takes work to find the angle that gets anything that much press! Kudos!!

Have A Great Day.

thom

Friday, December 04, 2009

As Seen On TV - LAS VEGAS (ABC Channel 13)

Here is an interview I did this week while I was in Las Vegas.

Enjoy!

CLICK HERE


Have A Great Day.

thom

Thursday, December 03, 2009

Come See Me Speak Next Week


My goal when I started my own business and went full time as a professional speaker was to give 52 presentations in 2009.

I have been fortunate to travel all over the country and have exceeded my plan, met countless amazing people, and have had a lot of fun.

However, the year is not over......

If you live in the Austin area and have never seen me speak (and have any interest in seeing me speak....as not everyone probably cares what I do!), I have one more speech scheduled for next week -- And this is presentation number 53 of the year....which makes it a bonus.... and we all know the little extra things in life are always the sweetest!

The Austin Business Journal is hosting a breakfast seminar on Tuesday, December 8th from 7:30 AM - 9:00 AM (at the Norris Conference Center in Austin, Texas). The cost is $35.

REGISTER NOW at the ABJ Website


"Smart Networking in the Holidays Season and the New Year" will be a fun and interactive presentation.

We all have in-box overload with invitations to holiday parties for our clients, vendors, employers, professional organizations, neighbors, friends, family, etc.... Regardless of if you are an introvert or an extrovert, it can be overwhelming. But there are things you can do to make it more enjoyable and beneficial. Networking does not happen by accident, and anything you can do to help cultivate your relationships will bring more opportunities into your life.

Set the stage now to make 2010 more prosperous by establishing mutually beneficial referral oriented relationships with other professionals.

I hope you can attend. Please tell your friends and co-workers!!!

Have A Great Day.

thom

Be Open To The Universe

When you are open to good things happening in your life, you will be amazed with the interesting and unique opportunities that will flow into your world.

I am not being "touchy-feely" or "religious" or "new age" (this is no "secret").... but there is something about putting yourself out into the world, networking with good people, and keeping your eyes open of what is happening that will place you in unique and spectacular situations.

Take my post yesterday about being at the Grand Opening for the Vdara Hotel in Las Vegas. We did not go to Vegas to attend this event, but when we heard that the new hotel and the "City Center" would be open, my business partner took action and booked a room. That lead us to being included in the gala party and being part of this once time event. Right place, right time.

Several people have told me recently that I am "lucky" because of the positively interesting situations and experiences that I encounter. Lucky? Not sure. I think people create there own luck. I am fortunate that I have many friends in my network who have included me in their interesting lives, and that does lead to fun and memorable interactions, as well as business opportunities.

But is that an accident or luck? I think that it is more about living life, cultivating relationships, and then taking action when you see the chance for such activities that are forever part of your personal story.

What about you? How have you stumbled upon the most unique and exciting experiences in your life?

Have A Great Day.

thom

Wednesday, December 02, 2009

Vdara Hotel - Las Vegas - Grand Opening


It is not every day that you get to stay in a great new hotel in Las Vegas on the night it opens.

My business partner for New Year Publishing and I had our quarterly business planning meeting in Las Vegas and were in town for the opening night of Vdara. We decided to take advantage of this unique chance to visit a top level property for the premier launch.

As a professional speaker I am fortunate to get to visit several wonderful, world-class hotels each year, and Vdara ranks up there in quality, design, customer service and pizazz.

Granted out cab driver did not know that the hotel or the new "City Center" area was open yet, so he argued that we could not get there by taxi (we were able to get there, but it was confusing for all). Also, the room was not ready when we arrived (huh? It is not like people were sleeping there last night!!!).... but the overall experience was great.

Vanity Fair
magazine hosted a VIP reception in the hotel to celebrate the Grand Opening, and we were invited to join the festivities,.... which made a great visit to be even better. The party showcased the hotel and many of the "Whose Who" of Las Vegas and beyond were present (photos below).

We had dinner with a great group of people at The Palm Restaurant, and then some time in the Bellagio Casino.

The trip was a success and we set some big goals for New Year Publishing in 2010.... stay tuned!!! If you want to write a book, or you are an aspiring professional speaker, we would enjoy talking with your about how our company could be a resource to help catapult your career!

Have A Great Day.

thom




Next Day PS- The mistaken wake up call at 4:15 AM was not my favorite part, but the hotel and the kick-off party were spectacular.


Tuesday, December 01, 2009

December Super Focus

DECEMBER?

WTF ????? -- How did it get to be December?


Well, it happens. In fact, every year people are surprised to find the year ending so quickly.

But the reality is that the calendar always moves at the same speed.

Many business professionals start to mentally check out in December, rationalizing that January is a whole new year. Why work hard, when you can pad you 2010 victories if you sandbag your efforts... right? Plus, the holidays season is too busy with parties, families events, shopping -- nobody else ever works in December... right?

Wrong and wrong. December is a great time to double your efforts and end the year with momentum that will catapult you into the new year.

If you want 2010 to be amazing do not coast through December. Instead, have a super focus on your business.

Everyday is a new day regardless of when it falls on the calendar. When you look at the people who really kick it with success they never rationalize failure or slack off because of some lame excuse. The holidays are not a real reason to waste time.

If you want to win you must work hard to crush failure.

Look around at those who are achieving higher levels of success. These could be co-workers, peers, competitors, etc... What are they doing different? What is it that makes them soar to the top? I don't know for sure (as that would vary with different people and industries), but commonly one can point to those on top and see people who are focused, consistent, and never jealous or envious. They are not lost on the map to detraction-land, as that is not their destination.

If you feel stuck it is most likely your own fault. People who makes tons of excuses or deflect blame at every negative situation will never see these traits in themselves (thus if you are reading this and thinking "that's not me"... it still might be you!). To get past this rut you are in you need to re-tool your focus make things happen. TODAY.

A month is a long time in business (and December is one of those long months with 31 days!). You can start today and have victories before the champagne pops on New Years Eve. If you cannot close a deal, you can certainly make progress in the right direction. (people often say "my sales cycle is longer than a month, so I'll wait until after Christmas" -- huh?, you still need the whole sales cycle... start now and make the close sooner rather than later. duh).

You just have to believe you can do it. Don't kid yourself, people do work in December... and they work hard. Be one of them.

Have A Great Day.

thom

Monday, November 30, 2009

Credibility Marketing

Marketing is changing. The mechanisms for positioning your company have morphed, but many companies have not shifted their efforts.

To complicate matters, the recession has caused massive retreats in spending of marketing budgets, which has left both the organizations and the traditional marketing vehicles (think advertisers, direct mail producers, etc....) hurting. Businesses are learning that they cannot save their way better brand recognition and lead generation. Being invisible in your business community does not bring new customers (or reassure existing customers that they are with the industry leader).

As the economic situations improve, and the money returns, will your company return to "marketing as usual"? If so, you might find yourself stranded on the credibility roadway while you competition speeds past you to new destinations of success.

I am not proclaiming traditional marketing as dead, it is just not longer enough. Buying an ad can be effective in helping establish name recognition, and with fewer companies advertising in print, radio and television.... NOW would be the best time to be spending in this area. It would be smarter to appear in these publications, and other venues, when there are fewer ads than waiting until there are more! Too many businesses are lemmings when it comes to such things, and copy what they see others doing. Once you see you completion advertising you are too late. Being part of the crowd is a lame marketing strategy.

Traditional marketing vehicles are no longer enough if you want to win business. To be the industry leader you have to have a credibility marketing plan that goes beyond branding your company. You must have a sincere "face of the firm" (or faces) who put a human touch into your reputation. People do business with people they know, like and trust. While certain corporations have transcended their brands into beloved icons (think Southwest, Starbucks, Harley-Davidson, etc...), few companies will ever have that level of love from customers.

However, all companies have people, and thus have the power to establish real connections and create expert persona's. When the business owner, manager, and employees create a credible and respected personal brand, they automatically transfer their image and trust to the organization.

I am amazed that smart entrepreneurs and other C-Level executives will invest large amounts of time into plans and strategies in other areas of their businesses, but fail to give any attention to the marketplace credibility that can be created by positioning people as the professional authority in their industries.

In today's highly charged social media arena, to ignore the power of connection is bad business.

Many companies who have seen the most success in the tough economy have done so because of referrals, repeat customers, and their strong positions in their industry. (These businesses have also had to reduce staff, and make other cuts, like others...but winners have not stuck their head in the sand). They have also embraced a "Credibility Marketing" strategy and been active in establishing their reputation.

Here are some ways to weave "Credibility Marketing" vehicles into your overall plan:

1. Write a Blog. Many have claimed blogging as a "fad". But those who have created successful blogs will tell you that it is an intricate piece of their image. A website is static (think brochure), but a blog is alive. When done right it puts a human face on the company and establishes the writer as an industry thought leader. Blogs must be updated regularly (think 3 - 5 days a week), and that scares many business people. But true entrepreneurs do not get spooked by hard work, thus if you are really one who makes things happen you will not shy away from this if you believe it will help you company succeed.

2. Speak at the Conference. Nothing creates your image as an expert faster than being a speaker or panelist at an industry conference. However it is more than just being asked to do this once, it is about repetitively showing up on the program. This takes effort on your part to secure the invitations to speak (this comes from actively networking in you business community), and being a good speaker. Just because you are smart will not guarantee the audience will find you knowledgeable. An unprepared and uninspiring speaker (who reads off their own PowerPoint) will bore the crowd and instead ruin their reputation. Learn to connect with an audience while sharing valuable information and you will have the highest levels of credibility.

3. Social Media. LinkedIn, Facebook, Twitter, YouTube and other social media communities are emerging as valuable business tools. While they are still relatively new, and are not the "magic bullet" that many seek, they should not be ignored. It takes time (maybe years) to establish a strong following in social media circles. If you wait until everyone figures it out before you put your toe in the water, you will have missed out entirely.

4. Get Involved. To establish yourself in your industry you need to participate. Show up at the events where other executives, vendors, and others are involved. Split up the responsibilities for covering the plethora of events amongst your team. Assign everyone two organizations that their participation is a high priority (the mistake companies make is they have people join groups, but nobody ever show up, or they rotate who goes. It takes time to establish yourself in a group, so the same person must attend each month). When you divide up the participation, no one person ever has too many networking events to attend in any given month (thus eliminating the excused for not showing up).

Also, once you are "established" you still need to participate. Many senior executives take an attitude of having "paid their dues" and skip out on networking. Out of sight is out of mind, and your reputation can evaporate if you slow down on your involvement.

5. Write a Book. When you have written the book on your industry you will be viewed as the leader. Never before in history has it been easier to write a book, and when you are introduced as "author" it will position you above competitors. There are many ways to complete a book project, and there are many ways to get the finished product published. Traditional publishing, self-publishing, and several boutique publishers who will work with you for a fee, or a shared-revenue model. (For more information on writing a book, contact my publishing company: New Year Publishing)

Adopt a focus on "Credibility Marketing" as part of your overall business development strategy and you will leave your competition in the dust.

Have A Great Day.

thom

Friday, November 27, 2009

Holiday Gift Idea - Buy Them A Book!!!

Here are two promotional videos about "Batteries Not Included: 66 Tips to Energize Your Career". Tips #13 and #57.

I filmed these a while back and never shared them.

The book makes a great holiday gift for anyone who feels they need more pizazz and focus in their career (and in this economy, that is most everyone!!! Buy one for yourself and one for a friend!)

Enjoy






Have A Great Day.

thom

Thursday, November 26, 2009

Happy Thankgiving - And My Annual Goal of Running Five Miles (YIKES)

Six years ago I was 25 pounds over weight. It was Thanksgiving Day when I decided that I would lose the weight and the following Thanksgiving I would run the "Turkey Trot" in Austin, Texas. (I think I came to this decision AFTER my second helping of Pumpkin Pie!).

I trained, dieted, worked out, focused, watched what I ate, and reached my goal of losing over 25 lbs in less than a year (I have put 7 lbs. back and my goal for now is to lose it again!). On Thanksgiving Day I showed up at the starting line to run what I thought was a 5K race. Much to my surprise, the "Turkey Trot" is a 5 MILE race (I only ran 3.5 miles, then did some walking... no need to be a fanatic!).

Alas, I survived, and each year this race is my reminder that when you set goals and work on achieving.... you can create victories!




I hope that you and your family have a wonderful Thanksgiving!

Have A Great Day.

thom

Wednesday, November 25, 2009

More "As Seen on TV"

I had the chance to be interviewed on television last week (while in Houston) about the power of business relationships and networking. During the past 18 months of the tough economy, people who are succeeding are finding that it is their mutually beneficial connections that are helping them find the victories.

All opportunities come from people... thus networking matters!!!

Enjoy.




Have A Great Day.

thom

Monday, November 23, 2009

Eleven Random Thoughts

1. If nobody knows you exist, opportunities will not come your way.

2. When you do not partner with others, they will not bring you into projects.

3. People who always spin excuses are passed over for future deals.

4. Spend too much time thinking others are trying to take advantage of you, and you will miss out on many paths to success.

5. Forget to thank the ones who helped you succeed and you will kill your golden goose (those who helped you before will help you again if they feel appreciated).

6. Try to be like everyone else and you will become a commodity (commodities are always purchased from the lowest priced provider).

7. Compare yourself to peers and someone will always be doing better.

8. Live a life that is a lie and you are a fraud (frauds always exposed).

9. Claim you are too busy to invest in relationships and you will be alone.

10. Have no goals and you will have no way of knowing what is a victory.

11. Success takes time. 100% of those who quit never reach their goal.

Have A Great Day

thom

Friday, November 20, 2009

Networking Is Different When You Are On Top

There is a lot written, on this blog and elsewhere, about the importance of building a network of professional contacts as you build your career. During the rough economy over the past 18 months many business executives have seen that the companies who have achieved the most have benefited from the long-term mutually beneficial connections. Networking is cool again as everyone wants to harness every advantage.

But not much is written about what to do once you have developed an extensive reputation and a large database of contacts. Problems occurs with managing your network once you have achieved high levels of success. Networking is different when you are on top of the pyramid than it is on the way up!

Successful entrepreneurs, venture capitalists, lawyers, accounting executives, consultants, and others rely heavily on networking on the way up the ladder, but once they are on top, they have issues maintaining the large number of key relationships, and have difficulty finding the time to establish new friendships, while simultaneously keeping up with those who are already in their database.

Many quit the process of networking and cultivating relationships. Some forget the reality that it was other people who helped them along their path and start to believe their own press about their greatness. Other are just overwhelmed by the hours it takes to navigate their high-level, high-pressure careers and just drop out of the social scene.

Additionally, once you occupy the corner office you will have a certain level of fame in your industry and community. This means that your phone will ring with several requests to meet for lunch or coffee, as lots of people will want to "pick your brain". Strangers, friends-of-friends, and other admirers will want access to your calendar. While you don't want to be rude, if you let everyone "pick", you will have no gray matter left in the end. This leads to people closing themselves off from the rest of the world.

Finally, with a large network, you will find there many people who are dead weight or too self-oriented to help you succeed (bad networkers who fail to help you, while always expecting you to assist them). These people can be major time hogs and / or sap your motivation levels while they seek your advice, introductions, and referrals. Knowing too many of these types will turn off the most seasoned networker.

Here are five tips to manage a large network once you have arrived at the senior levels of success:

1. Remember How You Got To The Top. If people in your life helped you succeed, acknowledge that your network was an important key to your success. Then make it a point to help others reach their goals. If you make assisting others a priority, you will be more likely to take action when you see a possible connection that would be beneficial for others. Beware of falsely imagining that you are one who "pays it forward", as most people think they do this even when they do not. We all want to be "good people", but it is easy to get busy and fail to take actions that are not part of our immediate to-do list.

2. Have A Little Time For "Brain Picking". When you are on top, people will desire to know you and gain your insight. Set a small amount of time for such meetings. Two short blocks of time per week (30 minutes each) will allow you to talk to 100 people per year. There were people who made the time for you when you were young and they made a difference in your career. You will feel good about yourself if you can materially impact just a couple of those who seek you out. Also, you never know who might bring you opportunity, so one of the people you give your time to might return the favor and deliver you an amazing return.

One executive I met several years ago had a great policy. He was an early riser and got to work as the sun came up. When random people wanted to meet with him he gave thirty minutes at 6:30 AM in his office available. Few people took him up on the time slot, but that was the way he separated those who were worth investing his attention from those who would waste his time. He did this for "brain pickers" and soliciting sales professionals. Only the most motivated would accept the appointment.

3. Host An Annual Event. It is difficult to keep up with everyone when you have a large network. But if you are a leader in your community, people will want to attend your annual picnic or holiday party. While there is an expense related with hosting these types of events, humans are "experiential beings" and if you are known for bringing the "whose who" together, it will translate to good will in your circle of influence.

4. Network Down The Ladder. On the way up in your career you will most likely establish some great friendships along the way. Together you will "grow up" together and many business deals and referrals will pass back and forth. The mistake that many executives make is they continue to exclusively hang around with their peers (both in age and success levels). The problem with this is that as your network gets older, they will pass many of the day-to-day business decisions to younger members in their companies. As those "kids" start calling the shots, they will send the business to those they know, like and trust. If you have ignored them, or treated them like "children", then they will not send the business to you. This happens often, and senior executives expect that their peers will step in and influence the younger players. However, good managers will not over-ride their own team members, thus leaving you without a link to your best referral sources.

5. Purge The Dead Weight. If you have people in your network who do not mutually contribute, or are simply "takers", there comes a time when you have to move on. I am not suggesting that you "fire your friends" (although sometimes you should), as it is fine to be friends with anyone you enjoy spending time with. But your business contacts whom are not returning the efforts to help you (assuming you are helping them) need to be purged from your "A-List". Review your client list regularly and identify who is helping you find business. Make sure that you treat your best referral sources like gold. Everyone else should always be shown respectful treatment, but you main attention should go to those who understand how to network to help all involved.

6. Surprise People With Something Unexpected. You thought there were just five tips here, but #6 is a bonus. Everyone likes getting a little more than they expected. Often the senior executives stop going to networking events in their business communities because they feel they are "above" such activities. Those at the top claim they "paid their dues" and will skip out on the common folk gatherings that happen around town. But when you are still visible at these events, even on occasion, it positions you as a regular person. Since it is unexpected that you would be there (because of your high level position), you will become even more popular with people. Claiming you are "beyond" networking events makes many view you as elitist, and nobody wants to help elitists achieve more.

Have A Great Day.

thom