Wherever You Go, Networking Makes You Grow
| Tweet |
|
Free PDF Download Sorting Out Who's Who - By Ivan R. Misner |
Imagine being dropped off in a foreign city with nothing but a few hundred dollars and being told that the only way to get home is to start a business and make a lot of money--in six days. Well, you don't have to imagine it. Just watch the BBC television show The Last Millionaire. In this reality show inspired by Donald Trump's Apprentice, 12 of the UK's most successful young entrepreneurs pair off to compete in a series of challenges. They're taken to cities around the world where--without their accustomed luxury, without the aid of their companies, colleagues or friends, without access to their bank accounts, often without even knowing the local language, culture or customs--they have to build a business from scratch. The team that makes the most money in a week gets to go home; the rest go on to compete in another city. The last surviving pair are pitted against each other to win the honor of not being The Last Millionaire.
In one episode, the final contenders, Natalie and Lucy, were flown to Hong Kong and lodged in a cheap hostel. They were each given the equivalent of a few hundred U.S. dollars and told to create a product and sell it in five days. They could recruit student helpers from a list they were both given, but otherwise they were left pretty much on their own.
Natalie called the student contacts for help. Lucy, however, went to an internet café, typed "business networking" into the search engine and called the president of one of Hong Kong's local networking chapters, wrangling an invitation to attend the next meeting.
Minutes after giving the group a 30-second presentation on her business goals, Lucy was networking with members and getting referrals for contacts that would design, produce and sell her T-shirts. Among those referrals were the largest manufacturing agent in Asia and one of the top manufacturers in Hong Kong. A couple of days later, her new business was off to a great start.
Want to know who won? Lucy, of course. Her earnings were 16 times her startup money, and more than four times what Natalie made.
Think of it; in a time when markets worldwide are struggling, an ambitious person with good business sense can build a profitable enterprise in less than a week--with a little help from some business networkers. To people who are not familiar with the power of networking, that is astounding. There's not a more vivid testament to the power of referral networking--at least, not on television.
Networkers should know about the power of relationship networking by now, but I'm still regularly bombarded with questions that reveal how much myth and misinformation there are about networking as a marketing tool:
Is referral networking truly effective, or is it just a way to pick up the occasional new client?
Can networking be considered a legitimate business strategy? Aren't direct mail, billboards, even phone book ads more important?
The truth is that referral networking is becoming an accepted and important marketing strategy in businesses worldwide. There's a very good reason for this; it works. It's a cost-effective way to get in front of new clients, and it's a much better way to keep a business prosperous over the long term (because it's built on mutually beneficial relationships between you and your fellow business owners). Referral networking is powered by the oldest and most enduring principle of human society--Givers Gain®--the idea that the good you do will eventually come back to you in one form or another.
Related Articles
Networking Mistake Myopia
Link And Grow Rich
Business Finance & Networking in the UK
Growing Your Business Online With Social Networking
Your Relationahip Bank
Build your network faster with smarter questions
Networking is Smart Marketing
Business Teleconferencing Networking The Up and Coming Business Trend
A New Kind of Networking for Recessionary Times
Learn To Network To Build Your Home Business
First Law of Networking: Scratch My Back and I'll Scratch Yours
What Is Business Networking, Anyway?
Networking: A Way of Life
Real Networking… No Scam, No Strings Attached!
Intro to Social Networking
Speed Networking: What IS the Point Without the Follow Through?
Endless Referrals
Conversation Is About the Other Person
Networking Tips for Introverts or How to Break The Ice Without Fear of Falling Through
How to Screw Yourself Up on Social Networking in No Time Flat
|
Free PDF Download Sorting Out Who's Who - By Ivan R. Misner |
|
About the Author: Ivan R. Misner Dr. Ivan Misner is the Founder & Chairman of BNI, the world's largest business networking organization. BNI was founded in 1985. The organization has over 5,800 chapters throughout every populated continent of the world. Last year alone, BNI generated 6.5 million referrals resulting in $2.8 billion dollars worth of business for its members. Called the "Father of Modern Networking" by CNN and the "Networking Guru" by Entrepreneur magazine, Dr. Misner is considered one of the world's leading experts on business networking and has been a keynote speaker for major corporations and associations throughout the world. He has been featured in the L.A. Times, Wall Street Journal, and New York Times, as well as numerous TV and radio shows including CNN, CNBC, and the BBC in London. Dr. Misner is on the Board of Trustees for the University of La Verne. He is also the Founder of the BNI-Misner Foundation and was recently named "Humanitarian of the Year" by a Southern California newspaper. He is married and lives with his wife Elisabeth and their three children in Claremont, CA. In his spare time!!! he is also an amateur magician and a black belt in karate. Click here to visit Ivan's website.   We All Speak the Language of Referrals Creating an Effective Business Card The 10 Commandments of Networking Conquer Your Fear of Public Speaking Managing Your Business Cards |
Related Forum Posts
Re: Make Friends...Literally BUILD them!
Marketing 2012
Re: My 3 best business books
Re: Be confident!
Re: How can a social networking site make serious money?
Share this article. Fund someone's dream.
Today’s Profiles of Entrepreneurship in Africa: Aliko Dangote
Is Your Business Tough Enough to Survive Recession?
Features of Kall8 Phone Service
Catch Someone Doing Something Right
How to Listen like a Detective
|
|
Like this page? PLEASE +1 it! |  |
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Top 10 Dumbest Web Site Decisions
Five keys to business success
10 Common Business Planning Errors
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.