But what often is lacking is that some business plans often don’t include a strategic networking plan which ultimately is a conduit for continued growth to their businesses, profile and profit. Quite frankly most professionals don’t see it as an imperative at that time, focusing on the financials, thinking networking is something that  happens primarily  to “keep up appearances” and to see what others are doing. Therein lies the first mistake.

The second mistake is thinking that it is all too hard, and that networking doesn’t make a real difference in their ability to perform as a company. Wrong – the difference it can make is from being one of the same to being one of a kind – the kind of people others want on their Board, in Management and Leadership Teams and in their organisations.

So let’s make the complex simple and make networking simplex! That is, find out how to find, source and enable people to find the positions they want  –  by doing simple but smart things, and asking simple questions in simple ways. No BS factor.

First, there is no argument that meeting the right people at the right time will have the biggest impact. So where do the “beautiful people” go to get known, and how do we know what that right time is?

Well, the right time is any time and often, and the place is what is the most closely aligned to our values, visions and interests.  By staying close to events and people who prescribe to our set of beliefs – irrespective of whether we share the same industry or not helps to lift the bar and not our blood pressure when we are trying to break through and develop into new territory.

Problem is, most people don’t ask for what they want. Whether they feel uncomfortable about talking about themselves, or whether they feel it suggests they may not be as successful as they would like others to think they are, many people simply skirt around the edges, hedging the conversations without being specific. Thus opportunities are left on the table without the other party even recognising there is another agenda on offer. Go by the premise that “ If you don’t ask, the answer is always NO” and ask away! Secondly, on speaking with many successful Directors, Executives and staff from a diverse range of industries and experiences, all agreed that best gold mines of networks come from two main areas – existing networks that we don’t really mine well enough, and invisible networks – that is, the networks of people in our networks who we don’t know even exist.

Therefore we need to invigorate our dormant contacts and have  active conversations with them again –  get the word out and let them know what we are looking for and what is the best fit for us and the value we bring. While in some instances they may not be able to help us at that time, their invisible networks may be.  And if the answer is positive and people can help, it may mean that we have to take a giant leap of faith to suddenly step outside our industry and into a new place and space. This in itself can cause some anxiety and apprehension or uncertainty but ultimately the learning curve is usually an affirmative one and opens the right doors.

However the answers to many queries or opportunities may not come from people directly but is only a click away on Google, so combined with an open mind and good communication and research skills, the opportunities to build presence and profile is not too difficult.

Looking at things from a different angle,  is a  well observed fact that when it comes to networking or self promotion, women generally tend to be less comfortable in ‘putting themselves forward’ and  may wait until they can tick all the boxes on the required credentials for a Board position, promotion,  or for a job in general. This means that unless they feel they can do everything that is required then maybe they are not ready for the position. On the flip side, however many men may nominate for a position without all the skills and be ready for a steep learning curve more assertively than their female counterpart. Certainly this is not true in every case, but given the low numbers of  women in senior leadership positions, this may be one of the  many indicators that point to women being less likely to position themselves in the areas they aspire for.

The following tips therefore will enhance a networking plan as well as a personal plan for developing their network’s  -its simplexity at its best!

1. Take the initiative and introduce yourself to people you admire or who have made a significant difference to businesses in your industry as well as industries around you. Send a hand written note or personal phone call letting them know what  you would like to discuss or how you can contribute to something they are doing.  Most people are receptive to being introduced to like-minded professionals who bring value and strong commentary. Don’t introduce yourself via email – the best is through recommendation.
2. Use social networking sites such as LinkedIn and Member  and industry groups or other Associations to expand your networks. Be active on the sites and spend time maximising the contacts there. Ask these networks where they network and attend functions that are new and interesting to you.
3. Take along several blank business cards when attending functions for those who have “run out” or “left them in the other jacket or handbag!” When you leave, write three things on the card that was meaningful to them so you can follow up with either an article, phone call or referral.
4. Contact specific Leaders, Senior Managers and Board members in Companies that you respect. Ask if they would share some of their insights with you as they are someone whom you admire. You will be surprised how open most people are to being interviewed.
5. Write articles for  business magazines or blogs that showcase your knowledge and expertise. Be seen as an expert so others know the value you offer.
6. Update your CV  and Bio to reflect your expertise.
7. Plan to attend a diverse range of events in different industries and in different associations. While it is good to have a company of familiar colleagues or associates when you attend, leave them at the door and network independently. Avoid sitting with your familiar networks at events.
8. Make sure you include your interest in finding a new role or  position in your Elevator Pitch  i.e. “ Hi, I’m Peter Pan Director of Fly Away Industries –  here today looking to expand my networks and knowledge on aviation as I am hoping to join a board  or organisation who makes safety a priority.”
9. Make contact soon after an event, ask people before you exit the conversation if you can be in touch and what is their preferred way of being in touch. Send an article of interest, have something delivered, or show them you have their best interests in mind by referring someone who may be able to help them with something they are looking for.
10. Give something ( knowledge, skill, recommendation, support) before you ask for anything
11. Ask organisers at events to introduce you to key people/speakers/Directors. Let them know who you would like to meet so they can “match” you more effectively allowing you to maximise your time and investment.
12. Don’t be reluctant to ask if people know of others who may benefit from your services or products – but preferably ask only after you have built up a trust mark. In other words, can they trust you from experience?  If not, where possible hold off till you know they have first hand experience.
13. Recognise different personality styles and traits –this means gender and genetics may have something to do with success but ultimately it will be the strategic planning around where, how, why and who you network with that will have the greatest impact
14. Be in the moment when you network –  if you suffer from premature exasperation by interrupting, or failing to stop speaking before others stop listening, don’t expect others to give you their card or want to include you in their networks.

In essence, it’s never been more important for people at all levels of business to master the art of networking to keep abreast of changes, people, situations and expectations of both customer and staff. Failing to convert contacts into contracts because one simply doesn’t like or understand HOW to network is no excuse and is a tragic waste of resources, time and opportunity that no business can afford.

A Networking Plan is as important as your business and marketing plan. It doesn’t begin and end with reading who’s who on the attendance board at a function and hope the letters after your name or your good looks will do the talking for you. Generational changes and expectations have made sure of that.

It means provide value, benefit and interest directly to others, or they’ll take their business to someone else who can. Then recognise the quality of the contacts by what they’re able to do for your business such as investing in your service,  recommending you to others, giving you publicity, or being able to offer you important advice or feedback.

So establish your value with others before, during and after the interaction has taken place. It’s that simple, yet that hard.

The post Converting Contacts into Contracts appeared first on Ricky Nowak.

As we now look forward into the second half of the year, building and converting contacts into client contracts will require a whole set of new skills – which has far more to do with sales than with law.

We know that selling skills are not high priority on the law school curriculum, yet going forward perhaps they need to be. Many lawyers believe ‘sales’ is above or below their pay grade, is not part of the job description or just belongs with the BD department. Perhaps you can identify with one or more of those sentiments? After all, you didn’t spend all those years, weekends, and all-nighters labouring over complex matters against unrealistic deadlines to end up ‘selling yourself and the firm’ in tough times. But here you are. In tough times. With everyone from Graduate to Partner charged with a new fiscal responsibility that no one saw coming.

Set out below are 5 New Laws that will help you commercialise your conversations, keep your clients close and profits intact.

1. The New Law of Client Centricity 

Focus on the new world (dis)order of your client – what is their emotional, financial, physical and operational status today and how has this changed? Spend time thinking about these four zones from your client’s perspective. This might give you some insight into where their priorities currently rest, and where you can add value and comfort. Enquire relentlessly about what your clients want to achieve or do in the short and long term. Remember the 3 C’s – Clarify, Confirm, Curiosity. As clients are now more likely to be in a heightened state of anxiety, frustration, fear, impatience or anger, your job is to be client-centric and stay in the moment. This is your time to truly listen to their issues, and guide them safely through their challenges.

Key take away: Plant seeds in client conversations which set the scene for further discussions. Ask questions and refrain from telling. Demonstrate you have a clear understanding of their challenges and that you can be a reliable support to them in navigating through.

2. The New Law of Understanding 

According to Alan Weiss Summit Consulting USA, clients or prospects fit into one of four categories at the moment – Ideal, Hesitant, Intimidated or Hunkered down. Discover which category your client fits into and understand with whom you are dealing with; you can then match your communication to the style and personality of your client. There is no better way to commercialise your conversations than by leveraging and understanding the power of 4 quadrant sales cycle in conjunction with the emotional state of the client.

1. Discover your clients’ needs. Question, challenge and disturb with evidence, statistics, case studies or examples.
2. Project your clients’ future so they see themselves in the picture
3. Build Rapport steadily – focus on mirroring pace, pitch, tone, body language. If you are working from home, remember most people are more humble in their habitat – so a more informal stance is better. Be insatiably curious about your client’s past, present and future aspirations and current needs. Empathise not eulogise. Listen more speak less. Reiterate, reflect and review and resist the temptation to jump into solution mode too quickly. If you do, you may miss uncovering the current or even next opportunity.
4. Offer solutions that showcase the strength of your teams, knowledge and skill but not the work – just the value that goes behind the work and relationship. Provide value. The objective of your conversation is to get them to say “So, what do you think I should do now? – I’m keen to hear your advice.” 

Key take away: Stop talking before others stop listening. Remember to listen for client buying signals that include pausing, changes in body language, pitch and pace. If you can recognize clients’ buying signals early and often, you can ensure the work will land on your desk, not another firms.

3. The New Law of the Constant Sale

One of the biggest mistakes most people make is asking for the sale at theend of a project or matter and expecting it to convert. Successful sales people know that the ‘next sale’ is often seeded within a short time of the first conversation/meeting. Based on feeling and intuition, people make their minds up very quickly about whether they want to work with people or not and the likely scope of the interaction or relationship.

The way to build desire is through constant and confirmation of facts, agreements in understanding and continuous dialogue. Messaging should be framed to highlight an understanding of client motivations (traditional and aesthetic).

Key take away: Stay connected to clients – even when the work is not flowing. You want to be front of mind when the need arises or keep conversations open where you might identify new opportunities for work.

4. The New Law of Talking Money 

The biggest challenge regarding pricing is not the price itself – but rather how the value of the work you do is portrayed. Another challenge is not knowing enough about the person or scope of a project before providing a fee estimate.

Here are three options to use when the conversation gets to talking about money.

• Let’s talk about what you’re trying to accomplish first and then we’ll work out some pricing options based on that.
• Is it OK to talk about money at this early point in our discussion?
• Until I have a better idea of what you want and whether or not we can help – any number I give you is going to be too high, would it be ok if we spend a few minutes discussing your enquiry? Then if I can help, I’ll get you the pricing options you need. If we can’t help, I’ll be happy to refer you to other great resources that do things we don’t. Fair enough?

Key take away: Find your own natural way of talking money but be transparent to avoid surprises. Clients won’t come back if they get a surprising bill when you close a matter or deal.

Reminder: If others don’t know what you sell, they can’t buy. Ask yourself if your clients really know what you do. The chances are that most people only really understand a small proportion of the work you actually do. Don’t assume they know what your team or other departments can support them with.

5. The New Law of Client Referrals 

For many people, asking for referrals can be extremely challenging – for most of us it doesn’t feel comfortable. Learning when to ask and how to ask could dramatically help your practice now and in the future. Here are some great examples which will help you bring in new business and existing opportunities.

• John, I ask some of my close clients for referrals to their contacts. Given the great results we achieved here, would you be open to refer me and the team to some of your contacts?
• Anne, I understand from your connections that you’re connected to xxx. If you would be open to it, I would really appreciate an introduction to him/her as you have mentioned they are part of your regular business network.
• It’s great you have been happy with the results we have achieved for you. I’ve been interested too in hearing about the challenges your colleague xxx. I’d like the opportunity to meet with xxx too to see how we can help him. I would highly value your recommendation.
• I think I could be a great resource and advisor to other industry leaders like you. How do you feel about referring or recommending me within the[insert] industry?
• What advice would you give me on whom I should be speaking to at [insert company name] – I would love to do work with them.

Conclusion

We each have an opportunity to take advantage of this moment – to reflect and adjust the way we interact with our networks and clients. Take time to rethink your selling strategy. Deliberate and smart choices now regarding how you interact with clients will see your relationships and legal practice emerge stronger.

The post How to commercialise conversations to win more work appeared first on Ricky Nowak.