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Today's Feature Article
Use Networking Skills to Open Doors
An Edward Lowe Quick-Read Solution
Every entrepreneur knows how valuable networking skills are.
Are yours up to par? Take some time here to hone your style,
and pick up more lasting, effective contacts.
OVERVIEW
Like a true entrepreneur, Bill Clinton won the presidency
in 1992 by amassing a vast network of contacts. "Friends of
Bill" helped him raise money and recruit volunteers for the
campaign. A master networker, Clinton found that each
friend he made would in turn introduce him to a handful of
influential VIPs; this snowball effect exponentially
expanded his circle of contacts.
Follow Clinton's lead and network aggressively. That doesn'
t mean you must shake hands with random attendees at trade
conferences and befriend them. A smarter approach is to
leverage your professional contacts and let them open doors
to new opportunities. Networking via referrals from your
friends and acquaintances can prove less harrowing and more
fruitful than "cold cultivating."
In this Quick-Read you will learn:
SOLUTION
Fast-growth entrepreneurs can usually sum up their business
in one simple, compelling sentence. And they're rarely
bashful about hyping their companies to anyone who's
willing to listen.
That's where networking comes in. The more people who know
about you and what you do, the more allies you'll attract.
If you try to forge connections with everyone you meet, you
may not hit it off 100% of the time. But engaging a
stranger in a stimulating or memorable conversation can
launch a relationship that leads to all kinds of benefits.
It all begins when you make a positive first impression. In
face-to-face meetings, stand up straight and balance your
weight on both feet. Loosen your facial muscles so that you
radiate warmth and enthusiasm when you first greet someone.
Don't lean, slouch or grimace when you shake hands. Banish
thoughts of self-doubt (Is that stain visible on my shirt?
Does my hair look good?) and replace them with pangs of
curiosity (What does this person do? What goals do we
share?). Make friendly eye contact during the first ten
seconds to put the other person at ease.
Network on the phone by opening with a "referral statement."
Examples:
These statements instantly explain why you're calling and
how you found that person. This helps the individual
respond openly to you.
Network on the Internet by joining chat rooms and
participating in online forums. Make bold, concise points
while adopting a deferential tone. Respect your readers by
complimenting their insights, asking follow-up questions
and seconding their observations.
If the prospect of networking induces anxiety, use these
pointers to relieve the tension:
1. Ask pleasing questions. You make friends faster if you
invite them to discuss their favorite topics. Look for
chances to ask, "What did you like about the speaker?", "
You've accomplished so much: What are you most proud of?"
or "What qualities do you look for in a great leader?"
2. Emphasize shared concerns. Establish common ground and
you're off and running. If you both know someone, explain
how you met that person. If you're carrying the same laptop
computer model, compare notes. If you've both built
businesses, discuss how you've overcome growing pains.
3. Maintain eye contact. You've heard this before, but it's
still an issue for many people. If you're nervous, you may
look down or away rather than at the other person. That
makes it harder to gain rapport. Transform your anxiety
into positive energy by gesturing freely, smiling
authentically and leaning slightly toward others to show
you want to listen to them.
To expand your network, follow up when friends and
acquaintances refer to others. If they mention some advice
they were given, ask, "Who gave you that great advice?" If
they tell stories about people they've met, ask for names.
Once you gather this information, suggest that they hook
you up with these contacts.
REAL-LIFE EXAMPLE
For Sean Greene, founder and CEO of Away.com, networking is
a means to an end. He's always hunting for new hires for
his growing adventure travel Web site, and he makes it his
hobby to meet people.
He stays in touch with friends from his prior jobs,
including a stint as a senior consultant with McKinsey & Co.,
and former classmates from college and business school.
He also attends travel-industry conferences and
participates in Internet groups in the Washington, D.C.
area where his 75-employee company is based.
Dennis Howitt of Minneapolis, Minn. constantly talks to
people sitting next to him on the plane. "I'm the guy who's
always asking you about your business as we fly from
Chicago to San Francisco…. It's amazing who I meet on those
flights." He asks for a business card at the end of the
conversation and sends a follow-up note when he gets back
to the office, usually attaching a relevant article along
with the note.
DO IT
********************************
Sources:
1. Books
How to Work a Room: The Ultimate Guide to Savvy Socializing
in Person and Online, revised edition, by Susan RoAne
(Warner, 2000).
2. Internet Sites
"Conference-Commando Field Manual,"
by Scott Kirsner, Fast Company
http://www.fastcompany.com/
"Network Your Peers to Open Doors,"
Edward Lowe Report
http://peerspectives.org/
"For CEOs Only: How to find a CEO peer group that's worth
your time--and money," by Donna Fenn, Inc.
http://www.inc.com/
Today's Motivational Reading
Over 1,300 six-page letters were mailed out to America’s
greatest achievers requesting them to share their wisdom
with other dreamers. Over 170 individual responses were
returnned back to Jim Bickford over a two year period.
Jim Bickford
Dear Achiever,
Americans love to hear a great success story...especially
yours.
You live the American Dream and perhaps you might be able
to share some of your wisdom with other dreamers. We have
two quick questions to ask:
If you might be so kind as to jot the answers to these two
questions down on your letterhead (along with a photo if
possible) and mail them back to us in the enclosed postage
paid envelope, it would be greatly appreciated. We will
post all responses to our website www.usdreams.com
throughout the year. Our new website features 300-plus
pages of positive and motivational profiles on America’s
top achievers.
Your wisdom will inspire thousands of dreamers. Thank you
in advance for helping us share the American Dream message
throughout our great land.
Continued success,
Jim Bickford
Here's one of the responses by Dan Kennedy, Marketing Expert
http://www.usdreams.com/AchieversL1Kennedy.html
You can read all of them below:
http://www.usdreams.com/AchieversLetters.html
Today's Subscriber Article
The Only 5 Things You Can Sell
by Palyn Peterson
So, you want to start an internet store do you? What is it
you are going to sell? This really is the first thing to
tackle, because without any products your store will fail,
guaranteed. All jokes aside, let me share some insight on
this broad topic.
First, do you have anything to offer that you can make?
Crafts, exotic bird houses, jewelry, doll houses? Most people
will answer "No" to this one, but that is ok! Lots of
options are still available. In fact, most online stores do
not create their own products.
Affiliate programs are another great choice. An affiliate
program is when a company gives you commission to sell their
products. You direct customers to their website, and that is
it. You don't manage inventory, the sale or shipping. Some
companies may provide web space and site creation support,
but be careful about going that route -- they may want to
charge you setup fees and maybe a membership fee. If the
affiliate program is worth it, it will most likely be free.
Here are other points to pay attention to:
1. How much commission you will receive with each sale. 5%-
10% is on the low side. Try to stick with companies that
will pay you 20%-35%. I've even come across some affiliate
programs that pay as much as 50%.
2. Read the affiliate agreement. Some companies state you
can only sell their products on your website, and no one
else's. If this works for you, great. If not, be sure to
read the agreement and make sure this is not the case.
3. What the pay out amounts are. Know how much you need to
make before a check is cut and mailed to you.
4. Do you receive support? Many companies offer their
affiliates marketing material to help sell products. This
could include website content, pictures, banners, cut-and-
paste emails, and classified ads.
Some people pull in many thousands of dollars a month with
affiliate programs, they can work, but remember to be
careful! There are many wolves in sheep clothing just
waiting to take your setup fee and monthly payments just to
leave you without support and no sales. If affiliate
programs interest you, there are a number of good affiliate
program directories. Here are a few:
1. http://www.affiliatesdirectory.com
2. http://www.associateprograms.com
3. http://www.affiliatematch.com
Next, a very popular and incredibly practical choice is drop
shipping. Drop shipping is when a wholesale distributor
maintains the product inventory, you create a store selling
those products and take customer's orders at retail prices.
You then turn around and send the customer's order to the
wholesale distributor who ships the products to your
customer, often with your company name on the package.
The customer receives their products not knowing that you
are running the business with no inventory and from the
comfort of your home. And no inventory means you only spend
money when you are making money. In other words, you only
spend money buying products at wholesale when you are just
going to turn around and charge retail price to a customer.
How great is that? This is one of the most popular methods
of running a retail business on the internet, and for good
reason!
The great majority of wholesale distributors will ask you
for your TAX ID number when creating an account. Your TAX ID
number can be found on your sales tax license if you have
one, or usually your social security number will suffice if
you do not have a license. For free information on getting a
sales tax license, visit this page:
http://www.futureinternetmarketing.com/
When searching for wholesale distributors, be careful
because there are a lot of companies out there that will
drop ship products and claim to be wholesale distributors
when they really aren't! They will take your order just to
turn around and order from the real wholesaler. This should
spell L-O-S-S to you. What's happening is that you are
buying the product at a price marked up from the actual
wholesale price, and then you'll need to mark it up even
further when selling it to your customer. There is a big
slice of the profit pie that you aren't getting!
Most distributors that offer thousands of different products
in a number of different categories are usually that type of
operation. Also, if the distributor wants to charge you a
subscription fee, that should set an alarm off in your head.
Occasionally the wholesale distributor will charge a per-
drop-ship fee, and maybe have a minimum order requirement
(either in quantity or dollar amount). A FEW (and I say
few) legit wholesale distributors will charge a setup fee
(one wholesale distributor I worked required that the first
order be $200 or more), but I have NEVER come across a legit
wholesale distributor that charges a subscription fee.
If you are having trouble deciding what products to sell,
try this: go shopping! Don't actually buy anything (if you
don't want to, at least), just look around and see what
products interest you.
Do you see a site that you think you could do better? Are
you a sports fan? Sell sports equipment or memorabilia! Do
you enjoy pool? Sell billiard supplies! Enjoy gardening, or
interior decorating? Sell products for those!
A word of advice though, the computer component market is
crammed. You will have more competition there than with most
other products.
Information products are a fabulous option as well. Not only
can they easily be created by you, they are even easier to
distribute because they can simply be emailed to your
customers.
Can you fix cars? Write a maintenance tips manual. Write an
eBook on saving money around the household. Write a manual
on how to negotiate with car dealers. Maybe you know how to
make the cue ball jump across a pool table over what would
have been an obstacle. I sure don't, and I wouldn't mind
finding out!
Basically, the question is "What do you know?" Don't
underestimate yourself either! A great way to get started
is to use the mind-map technique. This technique allows you
to jot down ideas that relate to a core idea and build a
skeleton of subjects that are all associated with each
other. After only a short time doing this, you should have
more than enough subjects to piece together a good eBook.
For more information on mind-maps, visit these resources:
1. http://www.peterussell.com/
2. http://www.shared-visions.com/
3. http://www.tsd.jcu.edu.au/
If you look long enough, or are just plain lucky, you will
eventually come across someone selling the complete rights
to a product. You can buy it from them and resell it for as
much as you want, as often as you want, and retain 100% of
the profits. These deals are few and far between, and can
usually cost quite a bit. But do keep your eyes open for
them, it may be just what you are looking for.
Hopefully a number of product ideas have sparked as you were
reading this article. As you can see, there are a lot of
very good options available to you. Review all of them and
choose the best one, or ones, for your business situation.
****************************
Palyn Peterson publishes the acclaimed Advanced Internet
Marketing News. A professional newsletter with a
refreshing perspective and a strong focus on no-cost
techniques. FREE Tips, Tricks, Tools, Resources, eBooks, and More!
http://www.FutureInternetMarketing.com
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