Business Development Blog

Many of you have been hearing about Online Social Networks for some time.

You may even have a LinkedIn.com, Facebook.com, or MySpace.com account.

But how do you use it?  What do you DO to get the most out of it?

Each of these networks serve a different audience and have distinctly different purposes.

And given your busy days, with a focus on results - it's important to use the right system for maximum bottom line impact.

I'd like to focus on LinkedIn - primarily because if it's demographic - 27 million and growing business professionals.

Some stats:

Growing by 1.3 million members per month
750,000+ Senior Executives
Executives from all Fortune 500 companies
46% are Business Decision Makers
Average Household Income - $109,000
Average Years of Experience – 15
Average Age: 41

                   (source: LinkedIn.com)

This is a group of people that are not only your prospects, but also have access to your prospects. (Centers Of Influence)

The key with LinkedIn is to Map your current business network onto the system and begin to look for leverage points. 

LinkedIn is designed with a search engine that allows you to target your searches, via name, industry, location, etc., and see the direct introduction/referral pathway THROUGH THE PEOPLE YOU ALREADY KNOW.

Think "Six Degrees of Kevin Bacon"

You can approach the people you already have developed relationships with to make introductions to great prospects - and decrease the resistance that those prospects could experience because you are leveraging social capital.

I understand that some of you are simply technology averse.  And you can continue to do what you've done and continue to produce the results that you produce. No harm, no foul.

But for those of you that are looking for a way to increase your productivity, shorten your sales cycle, and increase your closing rate, you may want to consider learning to utilize and integrate LinkedIn to your prospecting strategy.

Raymond Chip Lambert
Network 2 Networth
Your Outsourced Business Development Training Partner

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In a recent radio interview I did with Boomer and the Babe in the Phoenix market, we had a passing conversation about getting out there to network.

It seems that everyone knows they should be "networking".

People are telling them they should "get out there and network".

But what does that mean?  And do you really have the time to spend "networking" if you don't know what you are doing.

Isn't time one of your most precious commodities?

I got to thinking about what I could share that would make the biggest impact for readers regarding networking - what I call network development or business development.

First of all, know your markets. If you are like me, you are looking for leverage.  Go to events, or sites where your perfect client get together.  Then it's like shooting fish in a barrel.  You can take those time tested sales skills and go to work qualifying people and setting appointments.  Don't make the mistake of trying to sell in those places.  Use your time to meet prospects and schedule appointments to get people into your sales process.

Secondly, identify the vendors who serve the same markets you do.  They are potentially a great source of business for you.  But you have got to position yourself with something to offer them as well.  The law of reciprocity demands that you bring value to the table and have something attractive for them.  It could be that you make them look good to their clients.  It could be that you offer a product or service that enhances your prospective referral partner's business or value proposition.  The key here is to know what you offer and approach them with the intention to build shared value.  Set an appointment to meet and explore how you might be able to help each other grow your respective reach and influence in your market.  Be mindful that you are potentially putting your reputation on the line by referring someone - so take time to get to know these folks.

Finally, follow up and follow through with the people you meet.

Most sales folks fail in the follow up.  A friend and mentor once said to me that "The fortune is in the follow up."  Have a system and work the system.  If you don't have a good CRM (customer relationship manager) system, get one.  Your profitability depends on it.

Raymond Chip Lambert
Network 2 Networth
Your Outsourced Business Development Training Partner

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I logged into my LinkedIn account today and saw a little box in the upper header area of the site that says they have updated their User Agreement and their Privacy Policy.

Take note!

There are some things in here that we have been telling our clients for some time now - including specific things that you can and cannot do with the LinkedIn system.

In the next couple of days I will share my observations on the changes that have been made and how they may effect you and how you use the LinkedIn system.

Read the new User Agreement or Privacy Policy.

I'd love to get your feedback.  This could be pretty disruptive to the strategies some of you have been employing.  Let me know.

Raymond Chip Lambert
Network 2 Networth
Your Outsourced Business Development Training Partner

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I've just spent the entire day on a redesign of our blog and would love to hear what you think.

There are some great new features including some of the things blogs that I read on a regular basis as well as photos from recent events.

Any suggestions or mistakes that you see, please let me know.

Look for new and interesting articles to be coming in the next few weeks as I begin to roll out some new partnerships!

Have a profitable week!

Raymond Chip Lambert
Network2Networth
Your Outsourced Business Development Partner

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Lee LeFever Strikes Again!

One of my original posts to this blog was one of Lee LeFever's videos on Social Networking.

I just got an email from a friend with this new video that does a great job of explaining the power of LinkedIn.

Please pass this on to the people in your network who are asking you what this "LinkedIn thing" is all about.  You will be their hero.

And if we can help you or your organization - or even the organizations of people you know -  master the use of the system for your bottom line business results, please contact us.

Raymond Chip Lambert
Network 2 Networth
Your Outsourced Business Development Training Partner

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I just got off the phone with Stacy Burleson co-owner of Beyond Zebra.  Stacy was referred to me by Eileen Burick who did our linkedin training.

Now while I was talking to Stacey, I was looking at her LinkedIn profile and noticed that she was an ex-Disney employee - she was a member of a LinkedIn Group for those folks.

Although she said I came "highly recommended", the rapport that opened up in our conversation was amazing.  That one piece of information transformed a stranger into a friend - someone I had something in common with.

I shared with her that I still point using the signature sweeping gesture that I was taught at 16 when I worked in the park as a sweeper.

I then started sharing about my speaking engagement at the LACBA Small and Solo Law Firm Conference and that I was speaking to large groups of people about using LinkedIn for marketing and business development.

The world opened up.

You see, she is on the board for the Women's Business Enterprise Council - West.  And they look for speakers that can make a difference for their organization.

Now - I don't know if it will turn into anything, but she left our call excited that she'd just found a resource for her group.  She's going to pitch the idea of my speaking to her membership.

And that's the power of affiliation and LinkedIn!

If you've had any success stories like this, please let me know.  I'd like to interview you and possibly share your story with the folks who are following this blog.

Have a happy 4th of July.

Raymond Chip Lambert
Network 2 Networth
Your Outsourced Business Develop Training Partner

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