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Networking In A Turbulent Economy

With a weakening economy and  a restructuring of the country’s financial institutions, it is no surprise many of us our worried about our investment portfolios. Most of us have already seen our savings dwindle by 20-30%, whether it be in savings or prices of our homes. Every day it seems there is some financial institution on the brink of disaster. I wonder if U.S., Secretary Treasury Paulson has had a weekend off this last month or so, what his emotional or physical state must be. The conversations that must be occurring in the early hours of the morning.

There is a lot to be concerned about, but worrying about circumstances that you have NO control over is not going to help. This is where I find that very English attitude of "getting on with it," "doing the task at hand" comes in really handy and helps you focus on the things that you can do immediately.

Look at your business and implement some of the action items on your list. Up the ante with your networking efforts, which will become even more important for your business.

Networking is about building communities of like minded people, those who share your individual and your business interests and activities — people who will ultimately add value by becoming a customer, or acting as a resource or referral.

When attending events, make a strong, positive first impression by asking questions and listening. (Introverts are so good at this) Highlight what the two of you have in common and relevant contacts you may share/introduce him/her to.

Increasing your networking efforts could mean just meeting more people at an event rather than attending MORE functions.

Try attending industry functions that you normally don't go to, especially those with fund-raisers, politicians, journalists and pr folks, these people are connected and they know other people.

Always remember it takes time to get to know, like and trust people. Don't expect immediate gains.

Finally, make your hard work pay. Do plan to keep in touch with your contact over time.  Try sending relevant blogs, articles or news their way. Add new contacts to your online social network like LinkedIn.  This will help develop lasting relationships.

Filed in: Legal Networking

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3 Responses to "Networking In A Turbulent Economy"

  1. adam says:

    It’s very important to make long lasting relationships with those who you trust to exchange referrals with. I find it easiest to maintain my relationships online through a site called Referral Key. This site allows me to manage and track my relationships so that they are mutually beneficial and long lasting. Even if you have a network already, I suggest bringing it to Referral Key because it really is the best new way to build a trusted business network and exchange referrals.

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  3. Kevan Boyles says:

    It all about the relationships. You don’t need many. Find the good ones and be consistent in your efforts.

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