Showing posts with label networking. Show all posts
Showing posts with label networking. Show all posts

Saturday, 30 November 2013

What You Need to Do on LinkedIn, Even if You're Not Looking for a Job (Infographic)

When was the last time you revamped you LinkedIn profile? If you're like most people, probably the last time you applied for a job. However, your LinkedIn can be more than an online résumé—it can be a powerful career tool.
The infographic below, which features advice from self-proclaimed "LinkedIn Queen" Eve Mayer and social-marketing platform UberVU, offers tips on what LinkedIn users need to do to keep their profiles in shape. Check it out for advice on everything from how to choose a professional profile photo to how much time you spend maintaining your LinkedIn account each day.
 What You Need to Do on LinkedIn, Even if You're Not Looking for a Job (Infographic)

Saturday, 23 November 2013

How to Score an Advisor When Your Startup Has No Money

How to Score an Advisor When Your Startup Has No Money"If only I had an investor who would come on-board and throw in some money, I'd be able to do A, B, C and D. Then we'd really be off to the races."
Have you thought or said something like this before?
I have. And it's frustrating because you end up spending so much of your time and energy chasing after the investor as a result. And the next one. And the next one. Oops, that one was close, lost him at the last moment. And so the story goes.
Good news. You can eliminate at least half of this pain or more starting today.
First, though, we need to touch on the genome of what most early-stage investors are looking for in a startup:
  • 50 percent strong team
  • 30 percent week-over-week traction
  • 20 percent revenue
The best way to strengthen these criteria early-on, especially when you're bootstrapping and have little to no funding, is to reach out to your personal network.
Before choosing an advisor, begin thinking about the weak areas for your startup. These days with services like oDesk and Elance anyone can pretty much find a way to build something. So while you think your weak spot might be on the tech-side of things, it's probably not, or it's only the tip of the iceberg. Tons of people are building things right now, but hardly anyone is building something novel and uncomplicated -- something that works and becomes integral to a target demographic.
Here are some types of advisors to focus on:
  • A solid product manager in your niche
  • Someone with lots of proven online marketing and user acquisition experience
  • A well-connected PR person -- especially old-school offline PR
  • A finance person with tons of corporate development experience
Here's why these types of people are super beneficial to you:
  • The product manager knows how to build things that solve the correct problem.
  • An online marketer knows how to bring people to your solution.
  • A PR person can create great synergy by connecting you to brands they work with that have way more traction than you. Osmosis.
  • Finance corporate development person -- a money person who knows investors
Ask these potential advisors for references from people they've previously worked with and follow-up on them. Let them know early-on that you want to increase their role from advisor to some type of paid role at your company. And here's a word to the wise -- if you have no intention of paying this person at some point for the value you think they can add to your startup, that says a lot about how valuable you think they really are. The best kind of advisor is the type of advisor who is interested in becoming part of your dedicated team at some point.
You will never find more of a selfless person at your startup beyond your advisor.
And what about the money? After bringing these people on, you still aren't going to have additional dollars in your startup's pocket, but you'll be well-on-your-way to a solid team that's dedicated to gaining your product traction, which is about 80 percent of what most early-stage investors look for in the first place.

3 Ways Your Network Can Help You Flex Your Innovation Muscle

3 Ways Your Network Can Help You Flex Your Innovation MuscleI was in Madison, Wisconsin recently to give a speech. One of the things I noticed right away is that it’s a really social, lively, connected place. It’s easy to talk to your neighbor and bring your solutions and even your challenges to the business next door. That’s how organic, authentic innovation really happens.
Community-oriented innovation can happen anywhere -- from Manhattan to Madison and even in the smallest of small towns. All it takes is creating a culture of sharing within a supportive business community. You become more willing to take risks and go outside of your business for fresh insights and answers to your toughest problems. The cross-pollination of ideas is extremely powerful.
Individuals who demonstrate an active interest in the people and places around them actually grow brain grey matter, improve cognition and become better innovators. Entrepreneurs are uniquely positioned to reach out to others. They aren’t tethered to corporate schedules and hierarchy, and they have the flexibility of both time and infrastructure to allow for more fluid business relationships. Here’s how.
Get together. Do things as a group and you’ll be surprised how much inspiration will come from, say, something as informal as a weekly walk through a local park or farmers’ market or as organized as a community business event.
I know a group of storeowners in a cozy New York City neighborhood who get together for a weekly stroll and coffee before opening time. It’s a relaxed 45 minutes where they can swap customer stories, sales strategies and resources for professional services.
Towns and cities have been organizing formal regular events to gather community members and tourists and promote business. Lancaster, Pa. sponsors First Fridays, a popular arts extravaganza held on the first Friday evening of each month. Art galleries, local boutiques and restaurants, artist studios, museums, performing groups and the art college open their doors and get involved.
Broaden your knowledge. Continuing educational opportunities are and should be a robust part of your business life. For instance, restaurant owners can gather to sponsor an expert on Umami flavors and learn more about how to apply that knowledge to their menu selections.
Going back to school for an MBA can be a daunting process -- it’s expensive and time consuming and you likely don’t need one anyway. Many community colleges, private organizations and institutions offer certificate or vocational programs, which require less time and money and enable you to broaden your expertise and widen your audience in a particular field. You’ll also meet like-minded people and grow your network.
For example, I have a friend who manages the television careers of health and wellness experts. She recently told me she’s getting a certificate in Positive Psychology at Kripalu, a yoga retreat center in Lenox, Mass. to expand her business and make her even more effective at her job.
Become part of the solution. How can your business solve problems in the community? This may not be a direct money-making idea, but it certainly helps pull a community together and forge important relationships with the people you serve or aspire to serve.
For example, Richard Branson's South African health club branch of Virgin Active launched a youth development program called Future Crew to help local high schools get physical activity back into the school day. It’s been a success and the club plans to work with other schools in South Africa to train teachers and help students become more active.
That’s the sort of community building that provides an actual healthy, safe place for people to meet and interact. Imagine if you could find a way for your business to become such a hub?
Even sponsoring local charitable events and becoming a visible presence helps cement a positive relationship between you and the local community. Those are the building blocks to help you build a strong and successful business.

Friday, 22 November 2013

What Not to Do When Taking Clients Out to Lunch


What Not to Do When Taking Clients Out to LunchIt may be somewhat of a lost art, but a business lunch is one of the best ways to connect with your clients and earn more business. Though technology helps us stay in touch more frequently, it will never replace the face time provided by taking your clients out to lunch.
But don't let your flawless business plan be overshadowed by your dining faux pas. You'll want to avoid these dining disasters at all costs.
Don't hassle over the check. If you've asked a client out to lunch, always pay. Better yet, discreetly give the maitre d' your credit card before your guest arrives to avoid a potentially awkward situation when the check comes at the end of the meal. The only exception to this rule is if your guest is a government employee or is otherwise restricted from accepting meals.
Don't try out the latest, greatest restaurant. A client lunch isn't the time to try out a new establishment and risk bad service or bad food. Choose a restaurant familiar to you. The best choice is a place you've dined at often. Better yet, pick a place where the servers know you and give you outstanding service. You’ll look like a VIP. Nothing is more impressive than being greeted by name when you enter a restaurant.
Try not to cancel or reschedule. Before asking a client to lunch, check your calendar twice — and then again. Plans do change, but changing your plans at the last minute because you accidentally overbooked or accepted a better offer will make you look careless and disorganized. A business lunch is about impressing your clients; it's best not to give them any reason to question your ability to stay on schedule.
Don't order first. Allow your client to order first, then follow his or her lead. Be aware of your client’s dietary restrictions. I once went out to dinner with a group of friends and the host took us to a steak restaurant. One of the women in our group was Indian and didn’t eat meat for religious reasons. The host was embarrassed when he found out that she had ordered a vegetarian meal. Mirror your client's preferences and lunch will go more smoothly. If your client orders just a salad and a glass of iced tea, follow suit. Don't go overboard and order a five-course meal.
Avoid poor table manners. You're not a barbarian; you're an entrepreneur. Basic manners are a must. Don't chew with your mouth open. Use your napkin and never overindulge in alcohol. As the saying goes, “Loose lips sink ships.” You know the basics; now put them to good use. A business meal should be more about the business and less about the meal.
Be a good listener. Get to know your client through dynamic conversation. Ask open-ended questions. Be interested and interesting and the conversation will flow organically. Don't be afraid to share a few personal stories, it will remind your client you're human and allow you to establish a personal connection. Just keep it appropriate and don't share your deepest, darkest secrets.
Don't check your phone. Your email can wait. Turn your phone on silent and leave it in your pocket or handbag. You may have trained yourself to respond to every beep and buzz, but give your client your undivided attention. You attentiveness will show your dedication to your client and their business.

Richard Branson on How to Make The Most of Your Network


Richard Branson on How to Make The Most of Your NetworkEditor's Note: Entrepreneur Richard Branson regularly shares his business experience and advice with readers. Ask him a question and your query might be the inspiration for a future column.
Q: How much of an impact does a really effective networker have on a company's success? Does it ever make sense to hire someone whose only function is to make connections internally and externally? - Christine Rozman, Entrepreneur reader

Succeeding in business is all about making connections. While we at the Virgin Group have never hired anybody whose job description was limited to making internal and external contacts, it is implicit that almost everyone on staff has these skills. This has helped Virgin to expand into so many different industries, from music to mobile phone services: As we build connections in other areas, we have been able to grow our expertise and multiply our reach.
For an entrepreneur, the ability to forge connections is a great asset. When you're conducting business in a field where you don't have specialist expertise, it's often the only way to get a job done right. When our team at Virgin wanted to go to space, I looked for the best engineer in the world to help us build a spaceship. Once we'd connected with Burt Rutan, creator of the revolutionary SpaceShipOne, we were able to get to work on creating Virgin Galactic.
I was thinking about your question in October, as we celebrated the 40th anniversary of the launch of Virgin Records -- time flies when you're having fun! We got the original gang back together and went for a tour of all our old haunts in London. It brought us back to the heady days in the '70s when Nik Powell was planning Virgin Records' expansion into retail, Simon Draper was out scouting the coolest new bands, Tom Newman was experimenting with new recording techniques and I was busily marketing our brand.

During the tour, we visited the church crypt that we used as an office for Student Magazine, the houseboat my family and I had lived on, and Virgin's original head office in Notting Hill. We wound it up at an exhibition, "Virgin Records: 40 Years of Disruptions," at Victoria House, where we celebrated in style. It retrospect, it was interesting how close the tour locations were -- in those whirlwind first years, we quickly built a creative community where lots of like-minded people lived and worked. Those connections benefited everyone involved, in the same way that the networks in Silicon Valley and London's Tech City have promoted innovation.
My three friends and I have had our fair share of arguments over the past four decades, as people will -- especially when they're running a global business together. But we all went on to work on different projects, and we were always ready to shake hands again. I'm delighted that we're still so close. Our celebration gave us a chance to renew those friendships and make new connections: Everyone is still full of ideas and working on various new ventures, and as we spent time together, we came up with more plans, as always.
That got me thinking about how important networking is for entrepreneurs, and how to encourage people to network. It's all about personal contact. No matter how heavy your workload is, do not allow yourself to work in your cubicle or office all day, every day -- for your own well-being and the health of your business, you need to get out and about, meeting people and developing relationships. If you discuss a work matter with an employee or a potential client over coffee rather than simply sending over an email, you're more likely to build rapport, which will be useful if you ever need to tackle any problems together. Good managers give their teams the freedom to set their own schedules, realizing that the same is true of employees' relationships with their co-workers and the company's clients.
That said, you can also make great connections while sitting at your desk. Through social media, you can get in touch with almost anyone, and then connect in the real world as well. Just recently, a 12-year-old business studies student sent me an email asking for some tips, and I spotted her note and wrote back. These days, the only thing stopping you from building up your network is how much time you dedicate to it. Everyone can and should be a networker.
Those good connections will breed more good connections. In the end, it all comes down to talking to people. Track down people you would love to work with and start sharing your ideas. You'll soon discover that you have found some great partners -- and more importantly, some great friends.

6 Easy Steps to Being a Master Networker All of the Time


6 Easy Steps to Being a Master Networker All of the TimeWhen there’s only so much time in the day, it’s easy to overlook the value of building and maintaining your professional relationships. But being stressed and busy is no excuse. Relationships take effort, of course, but throughout my career, I’ve constantly been reminded that my success is dependent on the strength of my network. You really can’t do it all alone!
Thankfully, I’ve discovered that the simplest tricks -- tricks you’ve heard before, but aren’t truly putting into practice -- have an enormous impact on relationship building. They don’t take a lot of effort, but they do take commitment. That said, even taking these six simple steps can help you prioritize relationships in your life almost immediately.
1. Remember names. Names have power. We’re all impressed when someone remembers our name, because it makes us feel important and worth remembering. Make an effort to cultivate that feeling in others. To help yourself remember, repeat someone’s name multiple times over the course of your conversation. Don’t be afraid to ask someone to repeat his or her name. And if you have forgotten a name, cop up to it. Asking to be reminded still shows you care.

2. Give people your undivided attention. Look people straight in the eye. Yes, it’s intimate but don’t shy away from that. Making good eye contact demonstrates interest. It will also make you appear confident and charming. Do not let yourself be distracted by other people or whatever else is going on around you. And definitely do not look at your phone. Making someone feel like the most important person in the room when you’re talking to them can go a long way in building your relationship.
3. Don't interrupt. There is no easier way to get people to like and respect you than to listen intently. We all love sharing our own points of view. It’s much harder to simply shut up and let someone express himself. When you let people speak without interruption, they will become more and more comfortable with you. Without having said anything, you’ll put them at ease. I’ve found  this advice especially beneficial during negotiations and when trying to help employees or colleagues reach their full potential. Often, people just want to be heard. And they feel much happier after they have.
4. Ask questions. Start asking more questions. Asking questions demonstrates sincerity. If you meet someone who is quiet or having a hard time articulating his thoughts, ask him a question. Not too personal of a question, of course. But if you’re having trouble making conversation, start asking questions and you'll be surprise how talkative people can get.
5. Smile. It’s the number one thing you can do to put someone at ease. When someone smiles at you, you pause, right? It can even be disarming -- in a good way. Smiling does not come easily to everyone. You may need to practice. I’ve given many speeches and found that spending a few seconds simply smiling calmly at the podium before I get started helps put my audience at ease and get them on my side. It’s pretty remarkable how much power this very simple action holds.
6. Follow up. If you say you’re going to follow up, do. Actually, I think that always following up is a good practice. Again, this is a very simple thing, which actually can have a lot of power. You’ll be remembered as thoughtful and caring. Don’t let too much time pass before getting in touch.
Thesesix strategies add up. If you use all of them, you will leave a lasting, great impression. That is pretty priceless. You can use these simple tips anywhere from a dinner party to a business meeting. If you do, I bet people will increasingly listen to you, look up to you, respect you and even follow you.

The Secret to Selling Your Brand With One Sentence


The Secret to Selling Your Brand With One SentenceYou believe in the importance of your vision, but how do you get others to stop and listen to you? There will be many instances when you don’t have a lot of time to grab someone’s attention, be it a potential investor or a licensee. That’s why you need to be able to summarize the benefit of your business idea in a single, powerful sentence -- a sentence that is so direct and compelling, it stops whoever reads or hears it dead in their tracks. A good one-line benefit statement should make someone think: "I want to know more about that."
I’ve learned that if I craft just the right sentence, it’s all I need to get people to listen to my pitch, open my emails and answer my calls. I still remember the day the iPod launched and Steve Jobs called it “a thousand songs in your pocket.” Wow. That's captivating. He didn’t have to explain any further. We wanted it already! 
People don’t care about how something works.They want to know what it’s going to do for them.
Newspapers, tabloids, and these days, Twitter have been making use of the headline for years. How often do you find yourself on a webpage you never intended to visit, all because a headline was so tempting, you had to click on it? That should give you an idea of what I’m talking about. Creating excellent one-line benefit statements isn’t an easy skill, but it’s an important one, because it can be used to explain your idea in so many different kinds of situations in an attractive, successful way.
Sometimes, you only get one chance to make an impression. Cut through the clutter to make it count! Here three ways to create an awesome one-line benefit statement:
1. Make it emotional.
Why should people care about what you have to say? Grab them with something they can relate to. Benefits sell ideas, not facts. What is your idea going to do for the consumer or the world? Don’t be afraid to use emotion. People are motivated by their emotions more often than they are motivated by reason. Emotion also evokes visual imagery -- if people can begin to see your idea, that’s a good thing. Some emotional words include: "free", "incredible" and "unbelievable."
2. Keep it short.
Like -- really short. I’m talking no more than 10 to 12 words, ideally less. Remember, you don’t have much time. If your statement is too long, people may move on before they’ve even finished reading or hearing it. Don’t be intimidated by using fewer words. This is a really good exercise in general. Too often, I ask an inventor or entrepreneur to tell me about his or her idea and I’m overwhelmed with a five-minute speech. "What is he talking about again?" I find myself thinking. I’m not even sure. Brevity forces clarity.
3. Use numbers.
Numbers convey specificity. Look around you. Headlines with numbers dominate our world. One has only to look at Buzzfeed to understand the power of numbers.
Here are some examples of one-line benefit statements my students and I have used with great success in the past:
  • “The most versatile organization system available.”
  • “The store all, carry all, go anywhere elevated pet feeder.”
  • “This label will increase space on your packaging by 75 percent.”
Try out potential statements on everyone you know. Which one has the greatest impact? Ask for feedback. Then, start using this line all over the place. When someone asks: “So what is it you’re working on again?” you will have a great answer!