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Networking Tips for Financial Professionals

Businesses are built on relationships -- it's all about "who you know". The apprehension associated with professional networking, even for the most accomplished professional, doesn’t negate the fact that it is an essential strategy for growing your business. Here are some practical tips to help you build your confidence and get you in the networking game.

Relax and Be Yourself

The event is important and expectations are high. Always remember that effective "connecting" starts with being able to project a warm, friendly, natural, relaxed (but confident) image. All you have to do is be yourself and you'll be successful. After all, you're there to enjoy the experience.

Carry Business Cards and Use Them Wisely

Your cards won't do you any good sitting on your desk at the office. Keep a small supply of cards with you at all times. They should only be handed out in one of these situations.

* You’ve found a solid prospect, but only after you’ve had a brief conversation and determined they would make a great client.
* You’ve found someone who could be a potential referral source.
* You’ve found someone who could potentially influence/send an opportunity your way.

After the event, make a list of who received your cards. Write down what actions (including follow-up calls) need to be taken next week and beyond as a result of your "connecting".

Wait for the right time to offer your card, usually towards the end of a conversation. Give the card to the other person. Don't ask if they want it. It is appropriate to ask for the other person's card first, although you may find that some people don't carry cards.

Commit to an Event Goal

Set modest "connection" goals for networking events. A modest goal might be to meet at least six people and hand out three business cards to qualified prospects. If you can arrange at least one presentation opportunity you’ve done well.

Arrive Early

More networking events fail to produce leads and appointments because the networker arrives frazzled and late. As a result, they aren’t mentally in the game. Networking events require personal preparation. Arrive at least 15 minutes early to get yourself acclimatized to the venue and the atmosphere.

Network With the Right People

These events are about meeting qualified prospects. They are about your bottom line. Avoid long conversations with people who can't help you or who may never be prospects. Early in the conversation, find out what the person does by asking them. If they are clearly not your target market, in a very polite, professional manner, end the conversation and move on.

Remember the old adage, "time is money". Don't invest quality time being polite and talking to someone all night who has you cornered. Your mission is to find the right quality prospects in the crowd and make an impression on them.

Use a Provocative "Hook" or Positioning Handle

The best networkers have mastered the art of the opening "one-liner". They know how to spark up a conversation. Remember that people love to talk about themselves so try to get them talking. Inevitably they'll ask you the same question: "So, what do you do?"

Your answer is key to motivating their interest in meeting and doing business with you. How you deliver the answer is critical. Be brief, different, provocative, and enthusiastic in your delivery. Be compelling. Try to appeal to your target client's mind and pocket book. Carefully design your answer to arouse curiosity. Your opening “one-liner” should lead to the question: "How do you do that?”

Some examples of great “one-liners” for an investment advisor might be:

* "We manage portfolios for millionaire investors."
* "We design high performing portfolios for millionaire investors."
* "We manage money and insurance for high net worth families."
* "We increase portfolio returns for foundations and high net worth families."
* "We design early retirement plans for professionals."

It takes practice, persistence, experimentation and daring to become a master networker. Jump into the game. Trial and error is often the best way to build your networking skills. With one successful event under your belt, you’ll gain confidence and begin to grow your business. Soon, you’ll be the one that everyone wants to meet and know.


Need some one-on-one networking training or coaching? Follow the link to learn more about our Personal Marketing services.
 
  Click here to Request a Meeting with Steve Klein, MB's CEO and expert networking mentor.

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