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The New Networking: 8 Strategies for Building Real Relationships Presented by: Sameer Somal, CFA, CFP®, CAIA Wednesday April 24 th , 2019
The New Networking: 8 Strategies for Building
Real Relationships
Presented by:
Sameer Somal, CFA, CFP®, CAIAWednesday April 24th, 2019
The Agricultural Revolution Blue Ocean Global Trends
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• The supply and demand imbalance of qualified wealthmanagement & investment management advice.
• The Digital Revolution: tablets, mobile phones, social media,content marketing, and online reputation management.
• Interdependence of our global supply chain with respect totechnology, communication, and human capital.
• Clients, their children and their grandchildren’s reliance onsearch engines for information and qualified research.
The Agricultural Revolution Networking: What Comes To Mind?
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The Agricultural Revolution
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What Do You Hope To Learn Today?
The Agricultural Revolution Myth: Networking Isn’t Effective
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The Agricultural Revolution Recognize the Intangibles
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“Not everything that can be counted counts,and not everything that counts can be counted.”
–Albert Einstein [1879 – 1955]
The Agricultural Revolution Today’s Mission is Simple: Education
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The Agricultural Revolution What
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Strategy 1:
One First In Person Impression
The Agricultural Revolution In Person Relationships
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The Agricultural Revolution Connecting
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The Agricultural Revolution
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Networking & Success Correlation
• A research carried out by the Carnegie Institute of Technology shows that15% of one’s success is based on technical skill, while 85% is due to the abilityto connect.
• The stronger your network, the greater your chances of becoming a success.
The Agricultural Revolution ABC: Always Be Connecting
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The Agricultural Revolution ABC: Always Be Connecting cont.
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Networking Success Story
The Agricultural Revolution What
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Strategy 2:
Be Present & Avoid
Multi-tasking
The Agricultural Revolution Myth: Networking Is Only For Sales People
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The Agricultural Revolution The Bias Blindspot
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• Body language can be extremely powerful when it comes to networking andbuilding relationships with others.
• Within a few seconds of meeting you, people subconsciously makeinferences, assumptions and judgements.
The Agricultural Revolution Body Language
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1. Eye contact
2. Arm Movement
3. Posture
4. Facial Expressions
The Agricultural Revolution What is Your Unique Approach
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The Agricultural Revolution Strategy 3: Quality over Quantity, Small Talk
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Strategy 3:
Quality Over Quantity &Small Talk
The Agricultural Revolution
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Ever Waste Any Business Cards?
The Agricultural Revolution Myth: I Can’t Be A Successful Networker
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The Agricultural Revolution Myth: Quantity Is Most Important
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• It is not about how many people you have met or the number ofbusiness cards collected.
• Investing the time to develop one or several friendships may createmore value than exchanging business cards with 100+ newcontacts.
The Agricultural Revolution People Do Business With People They Like
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Nobel Prize winning Israeli-American psychologist, Daniel Kahneman,found that people would rather do business with a person they like andtrust rather than someone they don’t, even if the likeable person isoffering a lower quality product or service at a higher price.
The Agricultural Revolution Emotional Intelligence
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• Self-awareness – our ability to perceive our emotions andunderstand our tendencies to act in certain ways in givensituations
• Social awareness – our ability to understand the emotions ofother people, what they are thinking and feeling
• Self-management – our ability to use awareness of ouremotions to stay flexible and direct our behavior positively andconstructively
• Relationship management – our ability to use our awarenessof our own emotions and those of others to manageinteractions successfully
The Agricultural Revolution What
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Strategy 4:
One First Digital Impression
The Agricultural Revolution Technology Revolution
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“The average lifespan of a company listed in the S&P500 has significantly decreased from 67 years in the1920’s to 15 years today.”
-Richard FosterYale University
World’s Most Valuable Public Companies
The Agricultural Revolution
“Identity will be the most valuable commodity for citizens inthe future, and it will exist primarily online.”―Eric Schmidt, Google
Perspective
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The Agricultural Revolution Online Reputation Management (ORM)
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The online reputation of a person and a business are both critical tocontinued growth and success. The emergence of social media allowsnegative perspectives or inaccuracies to be shared and circulated among largenumbers of Internet users. The confidence of an employer, client, or partner isinterlinked with a positive reputation. Businesses and professionals alike musttake proactive measures to share favorable and address unfavorable content.
The Agricultural Revolution The Google Test
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The Agricultural Revolution
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The Agricultural Revolution Digital Assets: Your Online Presence
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• Website• Blog• Microblogs• Forums• Interviews• Guest Blogging• Webcast• Podcast• Bookmarking sites• Social Media
The Agricultural Revolution ORM Repair Issues
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• Competitor stratagems• Consumer feedback websites• Court case filings• Defamation bloggers• Embarrassing images & videos• Erroneous information• Erroneous profiles
• Legal documents• Mistaken identity• Name changes• Negative news or editorials• Purported scam reports• Past employee slander• Scandals• Slander & hate websites
The Agricultural Revolution
• Former Miami Gulliver Preparatory School headmaster, PatrickSnay sued the school for age discrimination after his contract wasnot renewed in 2010.
• In November 2011, the case was settled for $80,000 with aconfidentiality agreement.
• Unfortunately, Snay shared this confidential information with hisdaughter.
Case Study: Snay v. Gulliver Preparatory School
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The Agricultural Revolution Case Study: Snay v. Gulliver Preparatory School cont.
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The Agricultural Revolution What
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Strategy 5:
Utilize Social Media
Effectively
ScotiabankEvery 2018 Internet Minute
The Agricultural Revolution Social Media
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so·cial me·di·a - websites and applications that enable users to create and share content or to participate in social networking.
The Agricultural Revolution LinkedIn
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LinkedIn is a social networking platform designed specifically forthe business community. The goal of the site is to allowregistered members to establish and engage with networks ofpeople they know and trust professionally.
The Agricultural Revolution Engagement on LinkedIn
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• Display a quality and professional headshot. This is your online professional presence.• Complete your profile. Clients, prospects, partners, and friends may perceive your
presence as incomplete if you do not share your experience and skills.• Update your profile regularly. Strive for an All-Star Profile.• LinkedIn is the largest professional network. Resist the temptation to treat LinkedIn as
your professional Facebook.• Share and promote great content from your network judiciously.• Emphasize quality over quantity. Avoid sending generic connection requests.
Strategy 6:
Plan For Success
The Agricultural Revolution
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The Agricultural Revolution Myth: Networking Is A Waste of Time
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The Agricultural Revolution Perspective on Time
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Experience: Life is too short to learn all the lessons ourselves
• Synergy: 1 + 1 = 5
• Positive influence, energy and guidance
• Natural life transition process
The Agricultural Revolution Mentorship Myths
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• Mentoring relationships develop organically on their own.
• You only need one mentor at a time for success.
• Mentors should be older than you.
• Mentorship is a huge investment of time.
• Mentorship is a one-way street.
The Agricultural Revolution Networking at Conferences
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• Tell me about your role at X company (you read someone’s nametag)?
• What do you like most about Newport Beach?• It’s great to meet you, what session/speaker are you most
looking forward to attending?• What session/speaker have you enjoyed the most?• Ask open ended questions. • Listen with intent and purpose.
The Agricultural Revolution Network Effectively
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• Be proactive: Networking requires going beyond your comfort zone and challenging yourself.
• Surround yourself with new people: The behavior of sticking to the familiar faces or friends at an event defeats the entire purpose of networking.
The Agricultural Revolution Expand Your Network: Step 1
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1.Prepare your 30 second to 2 minute elevator speech.
You have one first impression.
The Agricultural Revolution Expand Your Network: Step 2
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2. Prepare relevant and thoughtful questions that relate to theevent you are attending, current news, or industry trends.
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3. Focus on quality rather than quantity. Rather than collectingbusiness cards, focus on engaging in meaningful conversations.
Expand Your Network: Step 3
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Expand Your Network: Step 4
4. Diligent, patient, and purposeful follow-up.
The Agricultural Revolution Network Effectively
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• Set a goal to meet at least XX new people.
• Always carry your business cards
The Agricultural Revolution Prepare In Advance
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The Agricultural Revolution What
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Strategy 7:
Networking Is About Giving
The Agricultural Revolution Find Your Unique Approach
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The Agricultural Revolution Connecting & Building Relationships
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The Agricultural Revolution
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Be A Giver
The Agricultural Revolution Pay It Forward
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“We make a living by what we get, we make a life by what we give.”–Winston Churchill [1874 – 1965]
The Agricultural Revolution What
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Strategy 8:
The Fortune is in the
Follow-up
The Agricultural Revolution Building A Relationship
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The Agricultural Revolution Methods to Follow-up
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• Social Media• Email• Text • Phone• Handwritten
The Agricultural Revolution
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Context On Follow-up cont.
The Agricultural Revolution Handwritten
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The Agricultural Revolution
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Handwritten cont.
The Agricultural Revolution
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Handwritten Received
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Networking Success Story cont.
The Agricultural Revolution The Network Effect
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The Agricultural Revolution Network In Your Communities
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The Agricultural Revolution What
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The Agricultural Revolution
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The Agricultural Revolution Invest In Yourself
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“Don’t be intimidated by what you don’t know. That canbe your greatest strength and ensure that you do thingsdifferently from everyone else.”
—Sara Blakelyfounder of Spanx
The Agricultural Revolution Long- Term Perspective
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“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that,you’ll do things differently.”
-Warren Buffet [1930 – present]Chairman & CEO, Berkshire Hathaway
