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Who’s in YOUR wallet? A Power Networking Strategy and Year End Inventory

Do you know who the key people are in your network? Do you take them for granted? Make time to identify your highly effective connections, create strategies to strengthen those ties, and ultimately increase your bottom line!
Written Nov 28, 2008, read 648 times since then.

 

Many of us carry photo's of our dear ones in our wallets as a way to remind us of what is important and so that we can share that information with folks in our day to day world.  You'll know what I'm talking about if you or anyone you know has a recent newborn in their family!

Right now I want to talk about other folks in your life who impact your wallet. 

Your network is made up of key people who make a direct impression on your business life either because they are clients, advocates, or collaboration partners, engaged in helping you to grow your business through the referral process.

While the Holiday Season is a great time to reflect on what and who we are grateful for, I would like to suggest that the following ideas can be put into play all year long as a strategy to recognize who the key people are in our lives (business or personal) AND will help us focus on making sure that we are taking care of them as well if not better than they are taking care of us.

Primary Network Relationship Inventory Guide

Take a moment to sit down and do a year-end inventory of your most important relationships.  And for the sake of direction ... let's list out 10 of your current, primary, relative, and important relationships.  You should know instinctively and without much prodding who these 10 important relationships/contacts are.  This list might include your best clients, mentors, advocates, referral partners, accountability partners, friends, family, (you get the idea).  Go ahead and write them down.

Next, take that list and think about why they have made an impact on you.  What one thing stands out in your mind?  Are they a joy to work with?  Do they send you referrals on a regular basis?  Do they listen to you when you need someone to bounce ideas off of?  Do they smooth the path before you?  Do they tell you the truth when no one else will? Do they cheer for you and encourage you to push beyond your reach?  Whatever you come up with for each person and how they have made an impact on you, jot that info down next to each person's name.

Now, take that information and reflect on how YOU have given back to them.  Have you spent time on their blog or website?  Have you sent them referrals?  Have you listened when they needed to talk?  Have you sent them articles that you found as a way to let them know that you are thinking of them?  Have you helped to spread the word either through your own postings or through comments that you've left for them on their sites?  Do you know what is important to them?  Do you know how you can help them achieve their goals?  Have you asked?

Finally, in looking over your list, take an inventory of your "staying in contact strategies" with each one.  When was the last time you talked to each person on your list?  When was the last time you sent them a card, an article, a referral?  When was the last time you visited their blog or website?  When was the last time you commented on their blog or website?  Do they have a social media presence?  Have you left them a testimonial or a comment?

Primary Relationship Building ACTION Guide

Building relationships takes time and it takes planning.  There are very few good or great relationships that happen accidentally.  And just as it is easier to retain a good client than it is to find a new client, it is far easier to strengthen and build the relationships that you already have.

Having gathered the inventory information from above, let's take a look at strategies for strengthening your current relationships.

Take your list of 10 people and the info that you've come up with from above.  Now, let's categorize those 10 people into 3 groups.  For simplicity let's have an A, B, and C group.  The A group would be your highest priority.  People in your A group should receive more attention from you.  This might be a weekly touch or a bi-weekly touch or even a combination of touches throughout the month.  The B group is next on your priority list and the frequency of touch might be once a month.  The C group is next and let's say that you need to contact them quarterly.

And, What is a Touch?

A touch can be any of these (and probably many more that you can think of):

  • A face to face meeting (coffee, lunch, dinner, networking event)
  • Hand written card of appreciation
  • A phone call
  • A visit to their blog, social media profile, or website followed up with an email
  • Posting on their blog, social media profile, or website
  • Providing a testimonial either written or verbal
  • Connecting them via email with someone that you know

Most folks enjoy 1 or more of these types of staying in contact.  Think about each person on your list and decide, based on whether they are an A, B, or a C which ways you plan to strengthen and grow your relationship with them.

Now map it out.  Take out your calendar and schedule in time to focus on the strengthening of these vital and important relationships.  An online solution that I use and find very easy in helping me to maintain the connections that are important to me is called Highrise.  You can learn more about it at www.highrisehq.com

But I have no time!  When am I going to do this?

I'm late, I'm late, for a very important date. I have no time, hello, goodbye...

Who among us does NOT feel this way?  And, yet, we must make time to say hello, goodbye and quite a lot in between, if we are to grow and maintain our relationships in our network.  It can be said that the strength of your relationships have a direct impact on the money that ends up in your wallet.

Pretty basic stuff, right?

Much of what I've written here is pretty basic and common sense stuff.  Truly, it is.  And, as Will Rogers said, "Common sense aint so common."

Additionally, folks tend to want to make things complicated when sticking to the basics can easily move them forward.  And we all want easy ... right?

Please make some time over the next month to figure out WHO the key players are who have influence over the growth of your business and, ultimately, when you take really good care of them you are, in fact, taking really good care of yourself as well. 

Easy!

Zita Gustin

Zita Gustin helps business people realize the many opportunities presented through social contact (whether online or face 2 face) to spread the word about their businesses.

www.thesavvynetworker.com provides many tips and ideas for GREAT connections.

Learn more about the author, Zita Gustin.

Comment on this article

  • Steve MacDonald
    Posted by Steve MacDonald, Seattle, Washington | Nov 29, 2008

    Great reminders of things that we absolutely must do to keep these important relationships for our businesses alive and thriving. And we let ourselves get so busy in life that we let these important touches get away from us. Good stuff.

    Thanks.

    Steve

  • Debbie Whitlock
    Posted by Debbie Whitlock, Seattle, Washington | Nov 29, 2008

    Zita, thanks for these great tips near the end of one year and beginning of the next. As many of us evaluate our personal marketing plans for 2009 this is a great reminder to include these key people.

    Regards, Debbie

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 29, 2008

    @Steve,

    You are so right, too often we get busy and we forget to stay in touch with the very people who have helped us get where we are. When we let the important touches get away from us we also risk the chance of letting future referrals slip away as well. Thank you for visiting and for sharing your comment.

    @Debbie,

    You are such a great planner! I know that you already have your personal marketing plan on paper for 2009. Thank you for your comments and I know your key people will appreciate being included in your plans!

  • Lori Richardson
    Posted by Lori Richardson, Bellingham, Washington | Nov 29, 2008

    Zita, What you are speaking about is the #1 way I have grown my business since 2001, and the #1 way I recommend others do so - even the sales people and the non-profit folks I focus on.

    Cold calls are out - relationships are where it is at.

    A recent study showed it now takes 17-20 of the "touches" you talk about to build trust and "presence of mind" with somene else (up from 7-10 about 10 years ago). As an advocate for you, I am always thrilled to refer you because we've made those many contacts and I know and trust what the value is that you offer.

    For anyone reading this article, don't underestimate it's power - rather, just try it! It really works.

  • Paula Russell
    Posted by Paula Russell, Sammamish, Washington | Nov 29, 2008

    Thanks, Zita, for the timely reminder and the practical suggestions. Good intentions are great, but without a plan for action not much happens! I like the idea of taking time to reflect on relationships and making a list--it's less likely that someone important and dear will be missed.

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 29, 2008

    @Lori, Thank you for your powerful testimonial here that these ideas do work.

    Knowing that you consult with and coach many across the country on how to improve their sales skillls will no doubt motivate even more people to not only read this article but to actually take action and do the excercise!

    And thank you for mentioning the study which I often explain in my classes but missed the opportunity to emphasize in this article. Too many people give up after only 2 or 3 touches which is unfortunate.

    Now, more than ever, those who want to get ahead or grow their businesses must take action to stay in touch. Hopefully this will give them a roadmap on where to start!

    For anyone reading these posts, if you are looking to improve your sales skills, I would highly recommend that you check out Lori's profile and make contact with her!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 29, 2008

    @Paula,

    You are so right about good intentions. So often we mean to write a card, or make that call, or send an article ... and yet other seemingly important things get higher priority.

    When you have a plan for staying in contact with your key advocates, advisors, clients, associates and friends, you show them that you care and appreciate their impact on your life.

    Very important stuff. Thanks for your response!

  • Sharon Emerson, CTC, ECC, DS
    Posted by Sharon Emerson, CTC, ECC, DS, Seattle, Washington | Nov 29, 2008

    Zita, You are always the best. The past 2 years in BNI and eWomen have helped me make some incredible contacts. I have been stretched to reach out and become part of the lives of so many and they are like my family. Send Out Cards has put me in touch with my clients all over the world. Now we are "family" and we share a bond beyond business. All of this was never heard of in my younger years. I may not have that many years left, but you all do. So get out of your comfort zone and make some new contacts.

  • Jeanette Betton
    Posted by Jeanette Betton, Kirkland, Washington | Nov 29, 2008

    This is right on the mark! Over the past 25 years, this is how I have built my business.

    Thank you for reminding me to schedule the time to maintain my existing A, B & C clients while I keep building new relationships.

    As always, you have real solutions to the most commonly asked business questions!

    Thanks, Jeanette

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 29, 2008

    @Sharon,

    You ARE like family to many! And I know that you build that feeling by reaching out to people to let them know how important they are to you as you have done many times with me.

    And you are also right that we should make new contacts. Because articles here can only be so long, I did not include the strategy for gaining new key connections. However the strategy would be nearly the same and I'll create another post soon around that concept.

    I'm sure you have many years still left in you! And many more contactst o make as well.

    Thanks for posting!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 29, 2008

    @Jeannette,

    I know from experience that you are the Queen of keeping in touch. There is only 1 jeweler that my husband is aware of ... and that is you.

    I'm sure that many of your clients have you "top of mind" because you have a strategy in place and you adhere to it like glue.

    Your recent trip to Antwerp which was followed up with a mailing to your clients is a great example of sharing information that is timely and appreciated.

    Thank you for your comments!

  • Danielle Villegas CLTC
    Posted by Danielle Villegas CLTC, Seattle, Washington | Nov 29, 2008

    Perfect timing for this great reminder. I just scheduled a whole day to do this. Thanks

  • Peter Chee
    Posted by Peter Chee, Redmond, Washington | Nov 30, 2008

    Thanks! I'm glad you put this together. I wrote down my list and it kept going and going. It's hard to keep it to 10 people as there are so many people that I am thankful for.

  • Christine Addison
    Posted by Christine Addison, Bellevue and Mercer Island, Washington | Nov 30, 2008

    Zita, I appreciate your well-written, easy-to-implement, great advice. This is so consistent with everything I've seen or heard from you. Zita is a networking leader worth following and one of my top 10 this year -- what she shares in her workshops is worth every penny of every dollar spent! Many thanks for sharing your wisdom and encouragement.

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 30, 2008

    @Danielle,

    Good for you Danielle! I'm actually thinking about hosting a Biznik event to focus just on this. I hope that you are feeling better!

    @Peter,

    Wow, 2 people who got into action on this today. I'm impressed. Peter, it is absolutely OK to extend beyond 10. Articles like this have to be unintimidating and had I said list 25 key people many would have decided that was just too much to do. By suggesting 10, it makes the excercise do-able and hopefully more people will do just like you and Danielle and swing into action. Congratulations for being aware of the people who have influence in, on, and around your business!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 30, 2008

    @Christine,

    You are so very kind! Thank you for your compliment Christine. We've only known each other for a short time, and I'm very glad to know you. Many could learn much from just watching you in action as you reach out to others and focus on building relationships! Keep up the great work and happy connecting!

  • Margit Crane
    Posted by Margit Crane, Seattle/Bellevue, Washington | Nov 30, 2008

    Excellent, Zita! I'm printing this out as I write this - can't wait to get going on it. This is a very valuable and a very fun exercise. Congratulations!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 30, 2008

    Thank you, Margit! Keep me posted on your progress. Thanks for stopping by and posting your comment.

  • Patricia Wangsness
    Posted by Patricia Wangsness, Bellevue, Washington | Nov 30, 2008

    Zita, this is who you are in life, who you are in business and one of the reasons that you are so successful! Once again you have given us a timely and valuable reminder and an example to follow. Holidays are the times we reconnect with family and friends that we may not have stayed in touch with. While it is not the best way to treat the people in those important relationships, it is the kiss of death in business. If you don't have a network of people you can rely on for yourself and your clients, neither you or your business will be successful. I mentor a number of new agents in our office and I am going to share this information with them.

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 30, 2008

    Patricia,

    Thank you for your kind words. You are very much this way, as well, in your life and I'm sure that the agents that you mentor know what a gift you are to them!

    Thank you for sharing this article with others who may benefit from it.

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 30, 2008

    For all local Biznik's ... I've created a no charge workshop on this topic. You can view the event page and rsvp at Workshop

  • Rick Itzkowich
    Posted by Rick Itzkowich, La Jolla, California | Nov 30, 2008

    Zita, Thank for outlining a very concrete set of actions one can take to strengthen relationships. I also like how you define the different ways one can "touch" someone.

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Nov 30, 2008

    Rick,

    Thanks for stopping by and leaving a comment. You have a product which many can use as a way of staying in touch as well. If you are curious about an easy way to stay in touch with your clients on a daily basis, be sure to check out Rick's article "5 Deadly Mistakes You Can’t Afford to Make While Social Networking" from about 2 weeks ago.

  • Betsy Talbot
    Posted by Betsy Talbot, Seattle, Washington | Dec 01, 2008

    Zita, I love it when you talk plans and systems! So many times people think the sincerity is not there if the contact is planned, but I think it is exactly the opposite.

    When you plan to stay in touch with someone it shows how important they are to you and that you don't want to leave it up to chance.

    And it made me smile to look over this list of commenters and know I've received cards/blog comments/out-of-the-blue calls from several of them this year. You have a very considerate following, Zita!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Dec 01, 2008

    Hi Betsy,

    You are so right about planning to stay in touch. It truly is a huge compliment when someone shows that they care enough to add you to their "stay in touch" with list.

    I know that I am always honored and humbled when people do that for me. And, knowing how it makes me feel, I want to reach out and do the same.

    This really is a great group of people!

    Thanks for sharing your insights, Betsy!

  • Cheryl Michaels
    Posted by Cheryl Michaels, Bellevue, Washington | Dec 01, 2008

    Hi Zita, Your article couldn't be more "spot on" and timely. This is exactly how I have been planning to spend the month of December, and as a new business owner I'm grateful that you have validated the approach I have been planning. You are a wonderful mentor to me and I'm a huge fan of yours! Keep up the inspiring work that you do! Cheryl

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Dec 01, 2008

    Hi Cheryl,

    Thank you for your kind words.

    I'm looking forward to seeing you at the workshop to help you get your list and your strategy in place.

    Thanks for stopping by and sharing your comment!

  • Elizabeth Rightor MA MEd
    Posted by Elizabeth Rightor MA MEd, Seattle, Washington | Dec 01, 2008

    Zita,

    I love the idea of the end-of-year inventory. I often think of those people on my top ten list, and am always happy to see them or hear from them. However, I have not had a plan per say for strengthening these important relationships. Thank you for the valuable tips. Elizabeth

  • Stacy Willoughby
    Posted by Stacy Willoughby, Lynnwood, Washington | Dec 01, 2008

    Thank you Zita--for this very timely reminder! This time of year we can get so distracted! It is easy to forget to stay in touch with those who directly impact our businesses.

    I believe this is a season for giving and who better to give to than my own personal top ten! I spent time this holiday weekend working on my plan for 2009 and you can believe that 'staying in touch' is a big part of it!

  • Amanda Hammond
    Posted by Amanda Hammond, Redmond, Washington | Dec 01, 2008

    Hi Zita! Wonderful work describing and documenting how valuable great relationships really are. It can be easy to forget, but with your simple steps you can simply plan to remember and recognize. Wonderful!

  • Anna  Choi
    Posted by Anna Choi, Bellevue, Washington | Dec 02, 2008

    Zita, You've nailed what I've always struggled with--maintaining close ties with people who matter most to the business. I never thought to inventory what I've given back--and as I plan on doing this, am scared but thankful to have an organized system that will show "the truth" of how much I actually give to others. It will be eye-opening I'm sure.

    Its amazing how a simple replying back to each person gives incentive for anyone to read your articles--32 responses in 4 days!! Not to mention a nice warm fuzzy for the day. You've definitely mastered a following of people who love and adore you cause you've provided such value. Really...way to be stellar. There are few newsletters/blogs I will take time to read that's worthwhile--yours is one of them!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Dec 02, 2008

    @Elizabeth,

    Thank you for your response. Awareness is a great thing!

    Last week I was teaching a class and asked people if they ever visited and/or commented on other people's blogs.

    One lady raised her hand and said that she always felt really good when people that she knew left comments on her blog... and then she added that she had never thought about doing the same for key people that she knows. It had just never occurred to her to do that.

    That moment in class was, she said, a wake-up call to her. She then realized how important it is to do for others what she enjoyed others doing for her.

    I'm so glad, Elizabeth, that the article has given you food for thought around staying in contact with those important contacts!

    Again, thank you for your input!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Dec 02, 2008

    @Stacy,

    Good for you! I appreciate your focus on planning and strategy AND for including the staying in contact component in your planning.

    A very powerful way to spend part of your weekend!

    Thank you so much for sharing your comments!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Dec 02, 2008

    @Amanda,

    Thank you for acknowledging that it can be easy to forget to show appreciation for our key relationships. I think that a lot of people assume that those key people will continue to hang around because we are so darned special and it's just not true.

    Business relationships are just like personal relationships in that we must continue to nurture and take care.

    I love that your product actually helps people to see where they are spending their time so that they'll be more aware of who they are staying in contact with and who they need to show a little (or a lot) of TLC to.

    Thank you for sharing your comments with us!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Dec 02, 2008

    @Anna,

    Thank you for your kind words Anna. My intent in answering as many posts as possible is to let people know that I appreciate their thoughtfulness in responding to these ideas that I've shared.

    I know that people have a lot of different sources of information - to the point that many feel bombarded with info overload. So it is always an honor when a person makes time to read one of my articles and I want people to know that I appreciate their time and their input.

    An inventory such as I've suggested is not meant to make people feel bad about their past efforts so much as it is about helping people to see that they CAN focus on recognizing the key people in their lives and then make a plan to reach out and show appreciation.

    I know you, Anna, and I'm very aware of the impact that you have had on many people. I value your honesty while at the same time, I'm sure that you'll be pleasantly surprised at how much you do let people know that you are aware of their impact on your life.

    Thank you, again, for sharing your thoughts with us!

  • Judy Cocchiarella
    Posted by Judy Cocchiarella, Redmond, Washington | Dec 02, 2008

    Zita, Something so simple, but yet so powerful. The idea of taking inventory of your most powerful contacts along with inventory of your most important assets makes so much sense. A great plan for the New Year.

    You always give me new ways to approach and think about things. Thank you for your incredible insight!

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Dec 02, 2008

    Judy,

    My pleasure to be of service! Thank you for your kind comments AND I look forward to seeing you at the workshop and helping you solidify your networking plan!

    Warm regards.

  • Mindy Jeppesen
    Posted by Mindy Jeppesen, Mercer Island, Washington | Dec 02, 2008

    Thank you for the concise call to action. I've allocated it time and space in my calendar.

    Success does come down to systems! (I love the acronym and acrostic SYSTEMs =save you stress, time, energy, and money.)

  • Zita Gustin
    Posted by Zita Gustin, Kirkland, Washington | Dec 02, 2008

    Mindy! I love that! I will remember to use that in future posts.

    Thanks for sharing and thanks for putting time on your calendar to do the excercise. I'm sure that your business will benefit from your doing so!

    Thanks!

  • Leona Rehm
    Posted by Leona Rehm, Seattle and surrounding area, Washington | Dec 03, 2008

    Zita Love the article! It's practical, easy to get started and a follow through plan for implementation - everything I need to make it happen. I am so looking forward to the class on the 10th!

    You are such an inspiration!

  • Jennifer Manlowe
    Posted by Jennifer Manlowe, Bainbridge Island, Washington | Dec 04, 2008

    Zita, and the gang above, thanks for all these wise insights about being agile, attuned and aligned to our best values. Success/Happiness is not about numbers or profit only, it's about quality relations that are ever-deepening, fun and rewarding.

    If you want to go to a great radio interview that is all about the power of nurturing our connections for mutual thriving in business and in life, check this out. By now, you all must have hear of best-selling "thought leader" Seth Godin, author of Tribes: We Need You to Lead Us. You won't be disappointed if you give this a quick listen:

    Seth's Interview

    Jenn Manlowe

    "That Gal Who Loves to See You Breakout of the Box You're In!"

  • Barbara Boren
    Posted by Barbara Boren, Seattle, Washington | Dec 04, 2008

    Zita, A great end-of-year reminder and very practical planning tool going forward! Thanks for so clearly organizing what sometimes can seem to be an overwhelming challenge. This is definitely on my calendar. Best Regards, Barbara

  • Bryan Heathman
    Posted by Bryan Heathman, Seattle, Washington | Dec 04, 2008

    Zita. Great insights and a timely reminder for year-end. In the last 2 weeks, I have recieved a couple custom printed cards in the mail from folks doing an excellent job making an impression (kudos to Biznikers' Bettina Carey and Huan Do).

    Now get out there and write a book on cougars, would ya?

    Best, Bryan Heathman

  • Ari Klein
    Posted by Ari Klein, Seattle & Port Townsend, Washington | Dec 04, 2008

    Zita,

    Wow, what a great reminder! I used to do this religiously when I first started out, but over the last few years the process has fallen away. Now it's back on top of my year end priority list. Thank you!!! Ari

  • Briana Cavanaugh
    Posted by Briana Cavanaugh, Oakland, California | Dec 05, 2008

    This is great - thank you for writing and posting. I sometimes do this, but I want to be more intentional so this came to me at the perfect time. Thank you!

  • Debbie Rosemont
    Posted by Debbie Rosemont, Sammamish, Washington | Dec 08, 2008

    Hi Zita,

    Wise words, as usual :). I always appreciate your insight on matters realted to networking and business building strategies.

    I'm glad for the reminder that the strategies you write about should be year round. Many of us express appreciation around this time of year, but your article has inspired me to plan out how I'll accomplish this on a regular basis as part of my Marketing Plan for 2009. I'm working on 2009 business and marketing goals right now, so this is so timely for me.

    Thank you again Zita!

    Debbie