Business Inspiration

February 10, 2013 by Donna Thornton Leave a Comment

Business Inspiration | Relationship Networking

Making the Connection

We have a zillion opportunities to go to networking events… there are enough networking and leads groups out there that we could quite literally have breakfast, lunch, dinner and happy hour with a networking or leads group, each day! But, then when would we find time to actually pay attention to the business side of our business??

We’re all looking to grow and expand our businesses, and we’re all looking for that next customer, and that next referral, right? So, given the plethora of options out there, and our busy schedules, how do we figure out how to make networking really pay off in real, tangible results?

Where to Network?

General Audience vs. Niche Audience – make sure your schedule has some of both!
Experiment and try new things/groups from time to time.
Pick no more than 2-3 “favorite” groups and use those to really begin to cultivate deeper relationships.

How to Network?

We have 2 ears and 1 mouth… ever wonder why?
Don’t just collect (cards) – CONNECT (with PEOPLE).
Don’t use an elevator speech – (tailor your “commercial” to the group)
Share a story.
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Be authentic.
Be on the lookout for the next power partner or collaborative relationship – for you or someone else you know!
Be a good resource for others!
Do not be easily offended!
Stay positive!

Bonus tips:

Don’t do “hit and runs.” Ever. Come a little early, stay a little bit after the meeting, if you can – but ALWAYS make a connection. If you do find yourself in a position where you need to leave early, apologize to the group instead of just “sneaking” out.
Create an opening for someone to come up to you and talk… wear something distinct, or have something of interest with you that invites conversation. When someone comes up to you, don’t just answer their question… ask questions of your own!
Don’t wait until you need something to make a connection! If you haven’t seen someone at your networking in a while, reach out to them. Invite them to coffee… find out what is happening in their life.
Networking really is about making GENUINE connections… if that isn’t what you are doing, you are truly wasting your time.
Always remember… what goes around, comes around. Take the time out to do someone a favor, make them feel welcome, give a shout-out or make a referral… you really will see it return to you ten-fold down the road!

February 10, 2013 by Donna Thornton Leave a Comment

Business Inspiration | Where do I Start? A Book Review

This is part 2 of Pat Frederiksen’s book review of Strategy for Good by Susan Hyatt, M.S.

You can find out more about Pat Frederiksen at SmarterWomenColorado.com

Strategy for Good shows how you can combine business with philanthropy and be beneficial to both.

The next question is how do you start???

First of all make sure your business is viable or you won’t be in business long enough to be philanthropic! Stay focused on your business and the bottom line while in competition with other businesses. Good thoughts don’t necessarily keep the door open.

What are your values and goals? What is your motivation? What do you have to donate to the charity? Money, time, goods or services?

Evaluate what you have done in the past. What did you contribute, to whom and why? What difference did it make for you or the community? Was it the best use of your time and talent?

Develop a strategic creation of your philanthropy. You will receive many requests for your time, talent and money, but which ones are a good match for you? Set up a criteria for your giving. “You have to have a vision for what you want to do.” What is your passion?

Your involvement with a charity is a relationship that needs to be developed. Know the responsibilities, expectations, needs, culture, goals for you and the charity. There is nothing worse than spending your time and resources than to find out your goals were not the same.

How do you measure success? What is working and what is not? How do you evaluate how a program is working? Are you receiving clients from the process?

Spread the word of your success with the non-profit. This builds value and builds a reputation for you and the organization. Partnering a small non-profit with a respected company can cause interest in them. Share an interesting way you supported a non-profit. It can cement relations and create loyalty with clients.

Susan Hyatt has specific ways of addressing each of these questions in her book, Strategy for Good. It is an excellent source of information to focus our giving and make it work for a win-win situation. Also visit www.StrategyforGood.com. This article is quoted and paraphrased from her book.

February 10, 2013 by Donna Thornton Leave a Comment

Business Inspiration | Strategy for Good: a book review

Can you combine charity and business? According to Susan A. Hyatt, author of Strategy for Good, you can mingle charity and business by being more strategic with your business philanthropy. “Community investment is becoming widely recognized as an essential part of business strategy for companies of all sizes.”

I heard Susan Hyatt speak recently and purchased her book to learn more. Community involvement refers to the many ways a business can draw upon their unique expertise, resources, and connections to actively engage with the community to address local and global issues. This could be cash, in-kind product and service donations, and people power.

5 Myths

1. Business social responsibility is for large companies only. Small businesses have the potential for community impact.

2. Community involvement is a “do later” activity to add after my business is established and profitable. It is easier and more cost-effective in the beginning that trying to tack on later.

3. Community involvement is a fluffy, feel good side activity that would consume my company’s valuable resources for little or no return. Studies show that companies that give strategically consistently outperform those that do not.

4. A company’s community involvement should be motivated solely by altruism. Community involvement based on all-win partnerships is more successful, effective and sustainable than the chairyt model of giving.

5. It is self-serving for my company to tell the community about our business giving. In actuality, sharing your story serves your customers, your employees, and the nonprofits you partner with, as well as your company.

Companies associated with philanthropic activity experience an enhanced reputation with a wide range of stakeholders, including employees, customers, communities, investors, advocacy groups, and government agencies. Increasingly, today’s consumers want to buy from companies that are active in communities and are good citizens.

Another benefit is loyalty gain.

Excerpts and paraphrasing from the book Strategy for Good by Susann A. Hyatt, M.S.

Pat Frederiksen can be found at SmarterWomenColorado.com