Business Networking and Sex - Ivan Misner [93]
The Connection Between Tracking and Success
The old saying that we “treasure what we measure”—and vice versa—turns out to be highly relevant in networking. As we explored the extent to which survey respondents correlated success and networking, we discovered that most of the people who credit networking for some of their success also maintain a system for measuring the dollar value of their networking activity. Conversely, most of the respondents who said networking played no role in their success had no system for tracking any money generated by their participation in networking groups.
In a world where news media frequently reports the latest sports scores, stock market numbers, and even the weekend’s top-grossing films, wouldn’t you think common sense would motivate business networkers to track how much they’re making from their efforts? Unfortunately, common sense isn’t all that common.
FIGURE 8.2—Tracking Financial Success by Using a System
High-performance professional networking requires the same attention to success metrics as a pro athlete, stockbroker, or even the local cineplex. Why? We can affect what we can measure by changing what we do. In other words, what we can measure, we can change. After analysis, our world can be shaped to how we want it to be—successful. Figure 8.2 shows a proven example of this truth.
Track Your Garden, Watch It Grow
How do you keep track of the birthdays, anniversaries, and other important events in your life? Most likely, you use some sort of calendar—something as simple as a wall-hanger or as sophisticated as the newest day planner. In other words, you use a system—whatever works best for you.
More importantly, why do you use any sort of calendar system? Because those birthdays, anniversaries, and other important events are also important to the people in your life. You value your relationship with your spouse, so you keep your eye on your anniversary date. You value your relationships with family and friends, so you keep track of their birthdays.
Long-term relationships are at the core of networking, as well. Our survey respondents who believed that they should focus on building a relationship with someone before trying to do business with that person also indicated they have a system for tracking the dollar value of their networking. The system actually helps them focus on and nurture the relationship—and understand its business value over the long run.
Interestingly, most of the respondents who preferred a transactional approach to networking, (hit ’em up for business now and worry about the relationship later or never), used no system to track the money generated by their networking. They not only failed to focus on the relationship as one of primary importance, but they also didn’t pay attention to whether their networking was financially productive. Isn’t that a bit like saying maybe you’ll remember some of the birthdays in your life if you’re not too busy or distracted at the time, but either way it’s no big deal? Really?
Both Genders Benefit From Tracking
Attaching a system to your networking is key to creating more success for the time that you have to spend. Most networkers are out there just meeting people and adding to their networks but have not fully engaged the network that they have already developed nor are they tracking the activities or the results they generate.
Here is what Dr. Herminia Ibarra, INSEAD University Professor of Organisational Behaviour, had to say about going deeper into your network:
It’s the quality not the quantity of contacts and how you use them that really counts. Managers need to remember that networking is a two-way street, and they need to offer help and make connections for others in their network as well as expecting help from them. You can have the biggest contact list in your field, but if you only pick up the phone when you are in a crisis, you won’t get far. That’s why you don’t want to leave yourself vulnerable to having nowhere to turn when you do have a crisis. Relationships take