Better Business Blog

7 Tips for Networking

Networking goes hand in hand with running a successful business.

But many of us dread walking into a room and introducing ourselves to a bunch of strangers.

I've been asked to share my best networking tips at a meeting today of the National Association of Women Business Owners in Philadelphia. Here are the most valuable tips I've come across – and put to work myself – over the years:

1. Resist the urge to arrive late. It's almost counter-intuitive, but showing up early at a networking event is a much better strategy than getting there on the later side. As a first attendee, you'll notice that it's calmer and quieter – and people won't have settled into groups yet. It's easier to find other people who don't have conversation partners yet.

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The 7 Pillars of Connecting With Absolutely Anyone

 

“You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.” - Dale Carnegie, How to Win Friends and Influence People

I don’t care what your goals, industry or interests are, there’s no getting around it: Personal relationships run the world. But why is it that some people seem to build instant rapport with most anyone they come across, while others are left with a network of one?

Over the past few years, I’ve conducted a study of exactly what sets these people apart. Turns out, the results are more simple, and more powerful, than you’d think. And they led me to interactions and connections with world-class CEOs, best-selling authors, professional athletes and other seemingly untouchable folks, including Tony Robbins and Warren Buffett.

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When It Comes to Networking, Farmers Will Always Beat Hunters

Has a complete stranger ever solicited you for a referral or business? I call this “premature solicitation.”

I’ve been its victim many times. I was recently speaking at a networking event, and before my presentation, a man came up to me and said, “Hi, it is a real pleasure to meet you. I understand you know Richard Branson. I offer specialized marketing services and I am sure his Virgin enterprises could benefit from what I provide. Could you please introduce me to him so that I can show him how this would assist his companies?”

Here’s what was going on inside my head: “Are you completely insane? I’m going to introduce you, someone I don’t know and don’t have any relationship with, to Sir Richard, whom I’ve only met a few times, so that you can proceed to attempt to sell him a product or service that I don’t know anything about and haven’t used myself? Yeah, right. That’s never going to happen.”

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Learning to Network: Organized Study vs. Winging It

My colleagues and I, as co-authors of the new book Business Networking and Sex – Not What You Think, thought it would be interesting to see if men and women acquire networking skills in different ways. So in one of our surveys, we asked participants how they learned to network.

Most respondents--both men and women--cited multiple ways. More than one-fourth said they had been mentored, which is widely considered one of the most effective ways to learn anything. Almost half said they had learned on their own, but many of them also participated in networking groups or read books and articles. In fact, more than three-quarters of respondents cited their use of networking groups. Which isn't surprising. Such groups often provide training programs and materials. Their popularity also illustrates the old wisdom of learning by doing. Many people learn fastest by watching others, making mistakes and correcting them.

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Top 10 Most Important Lessons from 13 Years as an Entrepreneur

Knowing what you know now, what advice would you give to an entrepreneur?

I’m often asked this question as I travel around the country speaking to groups on 21st century capitalism and leadership.

I suppose this question is asked so one can get a head start down the correct path to entrepreneurial success. Except, of course, there is no correct path.

Read More: Top 10 Most Important Lessons from 13 Years as an Entrepreneur

Does Your Business Need a DBA?

Have you ever wondered about the meaning behind those seemingly endless listings of ‘Fictitious Business Name’ entries in the newspaper classifieds? Do you know if your business needs to file one? Read on to learn all about the DBA or Fictitious Business name.

Fictitious Business Name: An Overview

Sometimes called a Fictitious Business Name, Doing Business As (DBA), assumed business name, or trade name, these filings let the public know the true owner of a business. Note that I’ll be using DBA and Fictitious Business Name interchangeably throughout this article.

Read More: Does Your Business Need a DBA?

What Drives Entrepreneurs?

Researchers have learned the half dozen motivations that drive people to become entrepreneurs. Take our interactive quiz to learn which of them (if any) matter to you.

Ask entrepreneurs about their companies, and they answer with alacrity and specificity. Ask why they wanted to start those companies, and they grow vague: "It's in my DNA." "I have a passion for it." "No one else would hire me."

Read More: What Drives Entrepreneurs?

Guide To The Must Read Blogs For Entrepreneurs

In between attempting to produce great content, tracking down people to interview, looking for advertisers, and creating a deck to pitch for our first angel investment, I have been taking notes on all of the different sites in the community.

There are so many great founders out there; I find it extremely helpful to learn how they built a business, and hope to one day be at their level. As I was reviewing my notes, I thought that it would actually be a great post to share.

Everyone has different styles, but they all end with the same result: phenomenal content. Loquiveri hopes to put the different pieces of the puzzle together to create our own style, following the lead of the great companies before us.

Read More: Guide To The Must Read Blogs For Entrepreneurs

The Seven Habits of Spectacularly Unsuccessful CEOs Hall of Shame

Dartmouth Professor Sydney Finkelstein first wrote about the Seven Habits of Spectacularly Unsuccessful Executives 8 years ago in “Why Smart Executives Fail.”

When I wrote about the habits last month, I had no idea that the post would strike such a nerve with readers generating over 2 million page views and counting.

The number one question readers asked me after reading that post was: who are some more modern-day examples of CEOs and executives who suffer from these different habits? And how can we identify CEOs with these habits today – in order to avoid investing in them?

I’m familiar with the habits as I studied and consulted with Syd on them for a number of years.  I instinctively keep them in mind as an investor when considering taking a position in a company.

Read More: The Seven Habits of Spectacularly Unsuccessful CEOs Hall of Shame

How To Build a Rockin’ LinkedIn Presence

Let’s face it: Too many of us spend a lot of time actively ignoring LinkedIn. We don’t intend to, it’s just not as flashy as some of the other social networks. But if you haven’t checked out the business social networking site lately, it’s time to stop ignoring LinkedIn and go back. Because the site has added a host of new features in recent months that have helped transform it from a static resume site to a full-blown business networking site that SMBs will want to take advantage of.

One feature small business owners want to specifically be aware of is the ability to create company profiles on the site. By claiming and building out your profile, SMBs will be able to increase your company’s prominence on the site, help prospective employees find you, and use it as your own personal recruiting network. If you’ve ever had to hire locally, you know important this is.

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The 7 Fundamentals of Building a Successful Business

First comes the idea, then a bit of follow-through and, ideally, in the end you have a business.

But if a company thrives, it's not because its founder filed all the right paperwork, got a P.O. box and had business cards made up. There's much more to building a successful business than those initial basics.

In fact, to make sustained growth more likely, small businesses need a smart, strategic plan. Whether a company is in its infancy or has been around for years, there are a few things every savvy small-business owner needs to keep in mind.

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Is Affiliate Marketing Right for Your Business?

Affiliate marketing is a sales strategy. Businesses or individuals link to a merchant's products and receive a commission if the affiliate partner gets a sale. The strategy is sometimes known as performance marketing.

How effective has this strategy been?

The 2010 IAB Internet Advertising Revenue Report showed that performance-based advertising models accounted for 62 percent of Internet ad revenues, up from 59 percent in 2009. In 2010, affiliate-marketing pioneer Amazon derived 40 percent of its more than $34 billion in sales from its program, according to Wikipedia.

Read More: Is Affiliate Marketing Right for Your Business?

Myths About Small Business Startup and Operation

There are plenty of myths about small business startup. No, you don’t need to tap your home equity to start your business, and small businesses probably have a better chance than ever to export products and services right alongside the big guys. What other myths of business startup and operation do you think need exposing?

Latest Trends

How to finance your startup. You don’t need to use home equity to start a small business. Though, in the past, it has been a major funding source for beginning entrepreneurs, today there are many other options you may want to consider first when raising money for your new venture. WSJ

Exporting small business success. Has your small business begun exporting? The push for increased U.S. exports is on, and small business could play a huge part. Learn more about how your small business can become a part of the revolution. Bloomberg Businessweek

Read More: Myths About Small Business Startup and Operation

How to Accomplish the Impossible

Genius sometimes just means not realizing that something is impossible.

A college student arrived a few minutes late for his final exam in mathematics.  The room was quiet, with everyone working hard, and the profes­sor silently handed him the test.  It consisted of five math problems on the first page and two on the second.  The student sat down and began to work.  He solved the first five problems in half the time, but the two on the second page were tougher.  Everyone else finished the exam and left, so the student was alone by the end of the time period.  He finished the final problem at the last second.

Read More: How to Accomplish the Impossible

10 Tips for Building a Strong Online Community Around Your Startup

Building a community around your startup can be one of the cheapest ways to create momentum for your product. A community is much more than a one-time marketing campaign, and can help you throughout your company’s life cycle if you take the time to grow it right.

Here are 10 tips for getting started.

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1. Look Before You Leap

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First, take stock of who is already talking about your product or industry and where they’re doing it. Mike Handy, a community consultant, suggests you seek out “pockets of users who are excited about your product or service.” If users are already talking about your product on Twitter, for instance, that’s a good place to start building.

Sumaya Kazi, CEO of Sumazi, recommends “It’s best to focus on one to two communities to begin with, and really focus your efforts to grow a community one at a time.” Take stock of where your efforts will be most useful and narrow in on those areas.

Read More: 10 Tips for Building a Strong Online Community Around Your Startup

Entrepreneurs Who Changed Business as We Knew It

 

John Byrne

I recently spoke with John A. Byrne’s, who is the author of World Changers: 25 Entrepreneurs Who Changed Business as We Knew It. John is the founder and chief executive of C-Change Media, a digital media company creating niche business websites that combine original, high-quality content, with curation and community to gain distinction and competitive advantage of the Internet. He is the former executive editor of BusinessWeek, editor in chief of Fast Company, and associate editor at Forbes. He co-authored the New York Times bestseller “Straight from the Gut” with former GE Chairman, Jack Welch. In this interview, John talks about the biggest challenges leaders have when building companies, gives advice from successful entrepreneurs, and more.

Read More: Entrepreneurs Who Changed Business as We Knew It

Five Best Online Meeting Services

If you work at a company with employees in offices around the globe, or you work in a small company but want to collaborate with a contractor who works from home or vendor across the country, you need a service that will let you connect with your team, share documents, collaborate on them, and in some cases even share your screen or webcam with them. Here are five of the best services to conduct productive online meetings, based on your nominations.

Earlier in the week we asked you which services you used for online meetings. You responded with lots of great options that you use personally or your company provides for you. Here's a look at the top five.

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Don't Give Up If You Want To Build A Web Business But Don't Know How To Code

Ostriches can’t fly. To add insult to injury, they’re one of the largest bird species out there. They have to hobble around looking for something to do while their avian counterparts swoop into the air in boundless directions.

If you can’t code and aspire to start a web business, odds are you feel just like the ostrich. Despite spending years in school and hours at the workplace, you can’t create your vision. You're left with two options: learn to code (a worthy investment of your time if you can afford it: Codecademy) or find a programmer (which warrants an article in and of itself). Given the frustration, many would-be entrepreneurs give up on their vision without giving it a real chance. A real pity.

Based on my own experience, this article provides some tips to help you flap those stubby little wings and turn them into airlifting power.

Read More: Don't Give Up If You Want To Build A Web Business But Don't Know How To Code

11 Tips for Building and Managing a Team

If you’ve gotten to the point where you’re hiring employees for your business, give yourself a pat on the back. This is a major milestone for any company – and one that millions of entrepreneurs never achieve. Now your challenge is finding the right employee and putting them to work in a way that will help propel your company’s continued growth.

We asked members of the Young Entrepreneur Council (YEC), an invitation-only nonprofit organization comprised of the country’s most promising young entrepreneurs, this question:

“What one employee management tip would you give entrepreneurs who are building their team?”

Here’s what the YEC community had to say:

Read More: 11 Tips for Building and Managing a Team

Will You Build or Buy Your Business?

The decision of whether to build or buy a business is only one of the choices you’ll face as you begin your entrepreneurial career. Here’s a look at some news and resources you might find enlightening.

Business Basics

Will you build or buy your business? Small Business Trends founder Anita Campbell shares this post on the decision every entrepreneur faces when considering whether to build or start from scratch. UPrinting.com

10 tax tips from the IRS. Before long, tax season will be upon us again here in the U.S. Fortunately, this post looks at some of the main questions…and answers to your tax challenges. Small Biz Survival

Marketing & Branding

What a policital campaign could learn from marketing. Here’s what savvy marketers, small business owners and entrepreneurs could teach contenders in the U.S. Presidential race. WebInkNow

New brand realities in 2012. Make no mistake, building a brand has changed alot in the last few years. The good news is that in some ways it’s easier and cheaper to do than ever. Fast Company

Read More: Will You Build or Buy Your Business?

10 Easy Customer Engagement Ideas for Small Business

Business and technology writer Efraim Turban defines customer service as “a series of activities designed to enhance the level of customer satisfaction — that is, the feeling that a product or service has met the customer expectation.”

While customer experience means different things to different people, it is generally about the sum of all the interaction a customer has with a brand or company. That’s a significant difference from customer service, which generally focuses on a single transaction.

All of which begs the question, how do you create a customer experience that sets you apart from the competition and keeps customers coming back? Luckily for you, I recently asked a group of successful young entrepreneurs those very questions.

Read More: 10 Easy Customer Engagement Ideas for Small Business

10 Brand-Building Steps For Beginners

So you’ve made the resolution that in 2012 you are finally going to "get into" social media and use it to build a brand for you or your business. But you’re not a geek and you’re not with a big corporation that already has a social media team or a fairly savvy marketing department. For you, time is of the essence. You don’t have all day to give to this endeavor, which is why you haven’t done it already. So here’s what to do in 10 easy steps:

1) Buy the domain name for you and/or your business if you don’t already own them. I gave my grandchildren their domain names when they were born.

2) Start a blog if you have some area of expertise that you would like to showcase. Use WordPress or Blogger because they are free, hosted, and have some built-in SEO (Search Engine Optimization) juice. Point the DNS to your brand domain. Your domain registrar can help you do this. This will stop your blog’s address from being http://buppythepuppy.wordpress.com and make it http://buppythepuppy.com. (Yes, I branded my golden retriever). It's shorter and easier for people who want to go there. And don’t expect traffic or comments. That’s not the objective. Authority is the goal.

Read More: 10 Brand-Building Steps For Beginners

You Can Get Richer Pinching Pennies Like Warren Buffett

Many people have tried to emulate Warren Buffett’s investment style. More may attempt it as they search for the best investing ideas for 2012. But here’s a more attainable goal: Pinch pennies like the Oracle of Omaha. This might turn out to be a New Year’s resolution you can actually keep. And you’ll be richer for it.

When his first child was born, the famously frugal Buffett turned a dresser drawer into a bassinet. For the second one, he borrowed a crib. While in New York signing up clients to invest six-figure sums with him during the 1960s, he reportedly phoned a friend from New York’s Plaza Hotel to bring over a six-pack of Pepsi so he wouldn’t have to pay for room service. He drove a Volkswagen until his wife decided it was bad for his image and upgraded him to a Cadillac.

Read More: You Can Get Richer Pinching Pennies Like Warren Buffett

The Overwhelmed Small Business Owner’s Guide to Simplicity

We have more ideas and responsibilities than we have time in a day. Plus, every piece of success seems to come with new challenges.  In fact, opportunities come from the challenges that we’ve learned how to maximize.  And since we can’t control everything that happens, we might as well learn how to move forward in spite of it.

If being overwhelmed is your issue, then start with one thing at a time.

One new lesson a month. 

You can learn it by reading a book, completing an online program, attending a local marketing class. However you choose to learn the lesson, find one key point and focus in on it until you understand it enough to use it.

In this information age, we tend to “spot” read and “half” know. In turn, we know about things, but we don’t know how to use them. We don’t know how to make them work for our business. So break this cycle on purpose.

Read More: The Overwhelmed Small Business Owner’s Guide to Simplicity

The most exciting moments of 2011 from NYC’s best new startups

While living in New York’s tech community this past year has been a wild ride, it’s been a ride alongside a welcoming, supportive and extraordinary group of people. We’ve seen pivots, partnerships, massive hiring, acquisitions and rapid rounds of funding. And we’ve seen more success than failures, which has inspired us to keep running.

We welcomed accelerators like the Entrepreneur Roundtable Accelerator, TechStars and DreamIt Ventures, played with new incubation models like Gramercy Labs Collective and Prehype and raised over $100,000 for local hackers through a fashion-infused tech celebration called Raise Cache. These organizations helped bring together an extraordinary group of mentors within NYC, and established a sense of camaraderie and mentorship within the community. If the years prior we’re about gathering materials and putting the pieces together, 2011 was a year to see the New York tech industry all come together.

For an end of the year, dose of nostalgia, we caught up with 13 entrepreneurs, who all launched companies this year and asked them what their most exciting moment was in 2011.

Read More: The most exciting moments of 2011 from NYC’s best new startups