The Secret Formula for Networking Success

The Secret Formula for Networking Success

Over the years, I have discovered that marketing is powered by two things—know-how and a nurtured network of contacts. This is the secret to networking success!

The formula for networking success is based on your Human Capital (what you know) times your Social Capital (who knows you) times your Reputation (who trusts you and what they say about you).

HC x SC x R = NS

Having knowledge, good business relationships and a solid reputation, plus social capital and trust is the ultimate security blanket in good times and bad.

The Golden Rule of Networking

Today’s economic conditions presents an excellent time to increase your market share by reaching out and building better relationships with people you already know.

“People will do business with and network with and refer people in their network to those people they know, like and trust and respect.”

Increasing your social capital is not about sitting alone in front of your computer trying to come up with a winning marketing formula on your own. No one I know who is successful does it that way. Get out from behind your computer and meet with real people—face to face!

1 >>> Seek out warm referrals from the people you know, like, trust, and respect.

2 >>> Always be trying to schedule a face-to-face meeting with the warm referrals you are given by the people in your network. Once you have been given a warm referral, force yourself to make the phone call within 48 hours to start your networking connection and secure a meeting. Then follow up and follow though!

Successful people may have started out going it alone, but as soon as they possibly could, they began to leverage their own and other people’s ideas, experiences and relationships.

That’s what it’s all about.