How To 10x Your Networking Results With Half The Effort
With so many options available today to connect with professionals, now is the time to network smarter, not harder to unlock your networking potential.
I’m an optimist.
I believe modern technology and widespread access to information has created unprecedented opportunities for rapid business growth and professional success.
But is it truly possible to achieve ten times the results with half the investment in time and money?
Can I build a lifelong network without investing significant time and money in networking activities?
In other words, can I have my cake and eat it too?
With the right strategy, tools, and people aligned … I believe you can.
Let’s see how …
THE INVESTMENT
Contrary to what many believe, the most valuable investment that can be made in networking is not your money.
It’s your time.
You can earn your money back by running a successful business.
Time is something you can never get back.
I recently talked with a fellow networker who attended a local business networking event. He said the networking event went “great” and that he met some really “nice people”.
He gave me the details of his morning:
5:15 am - Woke up to prepare for event
6:12 am - Drove to event
7:18 am - Arrived at event
7:30 am - Participated in the networking event
9:00 am - Event concluded, mingled with attendees
9:45 am - Left event to drive to office
11:09 am - Arrived at office to start the work day
The results of attending of the event?
Leads - 1
Referrals - 0
New clients - 0
My friend did follow up with the sales lead and other contacts that took another 3 hours of his time.
It resulted in a $75 sale.
He believed that closing the one sale made it worth his time and justified him attending the respective event.
I would disagree.
The amount of time spent: 9 hours
The profit: $75
ROI = $75/9 hrs = $8.33/hr
Opportunity lost with family, friends, or co-workers: Priceless
Unless there was potential for more business (there wasn’t), a full day’s worth of work (9 hours) was not a good use of time or a positive ROI.
In response, I asked my friend to try a new strategy. One that required minimal time and expense compared to his prior networking endeavors:
We spent two hours on LinkedIn outreach.
One hour of meetings (two 30 min Zoom calls)
One hour of follow up (proposals, follow-up calls, etc.)
The results?
Leads - 6
Meetings - 2
New clients - 2
The amount of time spent on networking: 4 hours
Revenue generated from networking efforts: $2,500
ROI = $2,500/4 hrs = $625/hr
His response?
He was flabbergasted and couldn’t understand how disillusioned he was at measuring the success (or lack of) in his networking efforts.
Although he was disheartened by the disappointing results from his original networking endeavors, he was pleasantly surprised by the outcome of his new networking initiatives.
The best part?
Anyone can do it.
And it starts with a plan.
THE PLAN
Networking isn't just about attending events and collecting business cards. It's about building genuine connections that can propel your career to new heights.
How do you do that?
Here are five steps to help you maximize your networking efforts:
1. Reimagine Networking
Break Free from the Mold - Networking doesn't have to be confined to formal meetings or awkward small talk.
Find Your Networking Style - Whether it's engaging with thought leaders on LinkedIn, joining virtual communities, or casual phone calls, choose methods that energize you.
2. Connect with Passion
Authenticity is Key - Don't just reach out to people because they might be helpful. Connect with individuals who genuinely inspire you and whose work aligns with your passions.
Build Genuine Relationships - By focusing on shared interests and mutual respect, you'll cultivate stronger, more meaningful connections.
3. Give Generously
The Power of Giving - Before you ask for anything, focus on providing value to others. Share insights, offer assistance, or simply lend a listening ear.
Sow the Seeds of Reciprocity - By building social capital, you increase your chances of receiving help when you need it most.
4. Follow Up
Plan for the Future - Don't let your networking conversations fizzle out. Prepare a few thoughtful questions or action items to keep the dialogue going.
Follow Up with Purpose - By acting on the advice you receive and sharing your progress, you demonstrate your commitment and keep the connection alive.
5. Show Gratitude
Express Your Appreciation - A simple thank-you note or email can go a long way in strengthening your relationships.
Pay it Forward - Remember to acknowledge the contributions of everyone who has helped you.
By implementing these strategies, you can transform networking from a chore into a rewarding experience that opens doors to new opportunities.
THE RESULTS
10X rules have become quite popular today.
One is that your product or service needs to be 10x better than a competitor for a client to make a change.
Another, according to Grant Cardone, is the 10X rule that is rooted in the Principle of Massive Action, suggesting that extraordinary effort yields extraordinary results.
“Successful people talk, think, and approach situations, challenges, and problems differently than most people—and they definitely think about money differently. The only way to be successful is to take the same actions that successful people take. Success is no different than any other skill. Duplicate the actions and mind-sets of successful people, and you will create success for yourself.”
—Grant Cardone, author of The 10X Rule: The Only Difference Between Success and Failure
My point is that the “10X philosophy” is not a fantasy.
Rather, it is achievable with the right strategy and system.
THE TAKEAWAY
Networking is a skill, not a talent. It takes patience and persistence.
My networking strategy is simple:
Inspire: Connect with those who motivate you.
Give First: Offer value before asking for help.
Enjoy: Network in ways that energize you.
Stay Connected: Keep the door open for future conversations.
Show Gratitude: Thank those who support you.
How is your networking strategy working out for you?
👀 WHERE TO FIND ME
Facebook: https://www.facebook.com/tipclub
Instagram: https://www.instagram.com/tipclub.inc/
Threads: https://www.threads.net/@tipclub.inc