Last week an order came if for my Social Networking for Business Profits – In 30 Minutes a Day or Less eBook. I also got an email from the person who purchased it and it turns out he is someone I hadn’t seen or been in touch with in over 20 years. We had met many years ago at a previous company where I used to lead Personal Growth seminars.

The interesting part is how he found me. He was doing a search for a business podcast and he stumbled upon an interview I had done for an Internet Radio station. Based on our previous relationship and his current interest in Social Media, he decided to purchase the eBook.

He then wrote me an email which allowed us to re-established a connection and started a new conversation. Who knows where this new conversation will lead?

This is what Social Networking is all about. Making new connections, sustaining existing or rekindling previous ones. This is a different mindset than looking at the particular ROI of every activity on-line.

Granted, there needs to be an ROI to Social Networking – otherwise it is easy to get carried and take away from doing business. However, determining how to measure the true ROI of Social Networking may be a bit more complicated.

I met Brent Haseker through Biznik — a wonderful site where people truly get to know one another — and we have developed a relationship over the past eight months. Our relationship truly embodies what Social Networking is all about.

Brent and I would probably never have met had it not been for Social Networking. He is back East and I’m in CA.  Our connection started after Brent commented on one of my Biznik Articles. I then responded to him and offered him my “relationship continuator” — a fabulous tool to help you identify those people who want to continue a relationship with me. The relationship continuator is  a gift subscription to QuoteActions.

Once again, the regular touch that QuoteActions offered, led Brent to respond to me which in turn caused me to set up a phone appointment. During our phone conversation, we strengthened our relationship and connection.  One of the results of tha was an introduction to someone who ended up becoming a client of mine.

The latest ROI of my relationship with Brent is that he invited me to be a guest in his Brent and Brandi Radio Show.  You can listen to the interview here.  I already got two new highly qualified prospects in my pipeline as a result of that show.

The reason I wanted to share this is because, of the power of Social Networking. It is also to illustrate what Social Networking is and what it isn’t. It is a wonderful vehicle to build relationships. And relationships will lead to business down the road.

What Social Networking is not, is a vehicle to make quick sales. Had I tried to sell something to Brent, our relationship would have ended right after our first interaction. Remember Social Networking is called that for a reason. It is not called Social Selling.  Be sure to remember this often. Failure to do this will lead you to one of the 5 Deadly Mistakes in Social Networking and it is extremely costly.

There is a good chance that if you are reading this blog, you are already subscribed to LinkedIn. The question I have for you is: how are you using LinkedIn?

Most people see LinkedIn as a community to look for connections to jobs or to hiring people. While that is certainly a use for LinkedIn, I personally think that the most powerful way to use the site is to put people together.

I like being the “go to” guy when someone in my life has a need for something. So I often get calls or emails asking me if I know of someone who does something that they need. By having a vast network of people, I can more readily find that someone and refer them. LinkedIn makes it very easy to do so with it’s introduce feature.

So start thinking of LinkedIn as a marketplace where you can connect buyers and sellers. The more you connect people with each other, the more influence you will gain with the people in your network. And the more influence you gain, the more you will be able to capitalize on it at a future date.

One of the reasons I haven’t posted much lately is that I’ve been very focused on publishing my eBook. I’m thrilled to announce that I finally finished it. The book is called Social Networking for Business Profits – In 30 Minutes a Day or Less and you can click on the image in the sidebar to purchase it.

When I first started this project, I figured I would write a 6-8 page eBook. However by the time I was done, I had partnered up with Mike Hayden who is an excellent technical writer and the finished product is a 45 page book. The purpose of the book is to help the Social Networking newbie get started in this exciting arena. Based on the feedback I’ve gotten so far, I accomplished my purpose.

If you find value in this blog’s content, you will definitely find value in the book.

Now that this part is done, the most difficult part begins – the marketing of the book. My guess is that this will lead to another eBook.

In the meantime, this whole experience is like Rubik’s cube. Every time a piece is completed, it affects several others. Exciting stuff!

If you have read my book would love to hear your feedback.

We live in a fast-paced society–one with very little patience. We eat fast food. We drive fast cars. We multitask. We all have been conditioned to expect immediate results. So we usually give our social networking a few weeks or months. If we don’t get any sales, we quit.

Steven Covey tells a story about what it takes for the bamboo plant to grow. He states that there are certain types of bamboo plants that take up to four years before they come out of the ground. Prior to them coming out of the ground, the plants are growing by spreading their roots underground. If you didn’t know this, it looks like nothing is happening. On the other hand, once they break ground, they surge upward from 12-36 inches in a 24-hour period!

Networking is very similar to this. I’m not saying that it will take four years before you see results, but it certainly won’t be immediate. So building your visibility and your credibility takes time. It is like the bamboo plant spreading its roots. Eventually you will start generating business. You just have to be patient.

What results have you gotten out of all this time and effort you are putting into this (Social Networking)? I get asked this question a lot. As I mentioned in my previous post, people are concerned that Social Networking will divert much of their time and produce little in terms of results.

I’ve learned that results in Social Networking are not linear. What I mean by this is that you don’t get from a to z in a straight line. For example, in the old paradigm of direct sales you could count on sending a certain number of direct mail pieces and getting a certain number of responses. That process was linear and predictable. Social Networking is not.

The way information travels through networks is very dynamic. It goes all over the place. In doesn’t follow a particular path. Which is why you need to be patient. You also need to plant a lot of seeds to see which ones grow.

A blog post by itself will probably do very little. However there may come a time when you have built your visibility and your credibility through multiple conversations and relationships, that one post can have a huge impact in the results you will get.

To date I have published several blogs, have a podcast series and I’m just about finished writing an eBook. What is happening is that I’m getting connections and conversations through these various efforts that probably would not have happened if I had only done one.

Remember this concept when you are evaluating your ROI for Social Networking.

I often get that questions when I’m talking with someone who is either considering getting started or is relatively new to Social Networking.

Rather than looking for the best social network,you’re better off looking at your purpose for getting involved in Social Networking.

Different sites have different purposes. They also have different strengths and weaknesses. They attract different types of people.

So start with purpose and then see what’s the best social networking site to help you accomplish that purpose.

Are you choosy with whom you connect with in LinkedIn?

This question was posted by someone on the Q&A section of LinkedIn and I thought it was relevant to people who are just staring to network online. My answer will be based on LinkedIn only. Since my criteria is different in different sites I will write about this subject in a future post.

I originally started out being very choosy.  This was before I actually had a strategy for Social Networking. However once I came up with a strategy and I came up with a new premise that I wrote about on an article called “Your Only One Person Away” , I relaxed my criteria for accepting connections.

My purpose for using LinkedIn is to be a “matchmaker.” I would love to be the guy who people call me and ask: “who do you know that ….?” and then refer them to someone who does that. To do this, I need to have a rather large and diverse network. The more people I add to my network, the more people I can connect.

If someone invites me to connect and I’ve never met them, I will first look at their profile and see how many people are endorsing them and what those people are saying. If I like what I see, I respond with a message asking them why they want to connect with me. The depth of their answer will determine whether I accept the connection or not.

Once I have an interaction with someone,  i.e. they comment on one of my articles, answer one of my questions, etc. then I’m much more likely to seek a connection.

What’s your criteria?

I recently became active in another Social Networking site called Ecademy. Part of what I’m doing is research to be able to share with readers of this blog and other clients about different sites and the benefits they offer.

While connecting with different people on the site, I ran across this blog post that I thought gave a good metaphor for the various SN sites out there. Do you have a favorite SN site? Why is that site your favorite?

you haven’t received the results that you hoped for after joining and participating in various Social Networking (SN) sites, there’s a good possibility it’s because you’ve made one or more of these mistakes. I’ve made everyone of these mistakes and paid the price. On the flip side, I’ve also corrected these mistakes and the results have been phenomenal.

Mistake # 1: Not having the right mindset.

If you go into SN with a sales mentality, you will fail. Sales is about closing transactions. Networking is about building relationships. There’s a time where selling is appropriate in a relationship. However nothing damages a relationship faster than selling without first building a relationship.

The Referral Institute™ teaches the VCP model. VCP stands for Visibility – Credibility – Profitability. In simple terms, this means that people need to first know who you are. Then they need to trust you. It’s only when they both know and trust you that they comfortably buy from you. Trying to move from visibility to profitability without earning credibility doesn’t work.

To correct Mistake #1 shift your focus from selling to building relationships.

Mistake #2: Not having a strategy.

Going into the SN arena without having a strategy is like going to the grocery store without a list, and to make matters even worse, going when you’re starving. Odds are you will forget to buy some of the items you truly needed, and you will bring home some junk instead.

Using the VCP model, you must have a strategy to increase both your visibility and your credibility. When you accomplish this, generating business will be much easier. So what would be an example of a strategy to build your visibility? At Biznik.com you can easily do this by writing articles, hosting events, posting comments, answering questions, welcoming people and more. It means getting involved in the SN community. The more involved you are, the more visibility you gain.

One easy way to build credibility is to have people who already trust you give you a testimonial or third party endorsement. Look for people you know who are already members on the site and ask them for a testimonial. Better yet, offer a testimonial for them first. If you don’t have anyone you know on the network, invite them to join. Once you start building your relationships with others on the network, they too will be able to give you testimonials.

To correct Mistake #2 come up with a strategic plan to gain visibility and credibility.

Mistake #3: Not having patience.

We live in a fast-paced society–one with very little patience. We eat fast food. We drive fast cars. We multitask. We all have been conditioned to expect immediate results. So we usually give our social networking a few weeks or months. If we don’t get any sales, we quit.

Steven Covey tells a story about what it takes for the bamboo plant to grow. He states that there are certain types of bamboo plants that take up to four years before they come out of the ground. Prior to them coming out of the ground, the plants are growing by spreading their roots underground. If you didn’t know this, it looks like nothing is happening. On the other hand, once they break ground, they surge upward from 12-36 inches in a 24-hour period!

Networking is very similar to this. I’m not saying that it will take four years before you see results, but it certainly won’t be immediate. So building your visibility and your credibility takes time. It is like the bamboo plant spreading its roots. Eventually you will start generating business. You just have to be patient.

To correct Mistake #3 give yourself twice as much time as you think you will need before you evaluate whether your efforts are paying off.

Mistake #4: Not having any free products to give away.

My wife is from Sweden. In her country it’s very common for people who visit other people’s homes to always bring a gift. It’s not about bringing a gift on a special occasion. It’s about the principle of gratitude. If someone is inviting you to their home, you express your gratitude by bringing a gift.

In networking this principle is very powerful as well. Showing someone gratitude and appreciation is a great way to build the relationship. However, nowadays free does not carry the punch that it once did. This is because very seldom is “free” truly free. My dad jokes that “free” is the most expensive word in the dictionary. So offering a free gift is often viewed with suspicion – especially when the gift is connected with the product or service you are selling.

On the other hand, if the intent behind the gift is to truly express appreciation for connecting, it brings you closer to the other person. When it takes on a “pay it forward” approach, the results can be remarkable.

One of the best tactics you can use in your SN strategy is to find or develop a gift you can offer to prospects for free-one that’s not directly related to what you sell.  After trying different things myself, I finally created a product that accomplished the above goal. Since I’ve incorporated this product, I’ve been generating 8-10 new qualified prospects every week.

To correct Mistake #4 develop a product or service that has value in the eyes of your prospects. Make sure that it’s not related to your core offering and give it away for free. If you can’t come up with a product of your own,  I’ll be glad to share some ideas.

Mistake #5: Focusing on numbers vs. relationships.

Joining many sites and adding lots of friends or people to your network is not a strategy. It may be good for your ego, but it will not result in you doing business. Remember networking is about relationships–not about numbers.

You’re better off building a smaller network of people with whom you have a relationship, than a larger group of people you don’t know or interact with. Remember in order to gain visibility, you will have to get involved and participate in the community.

To correct mistake #5 limit the number of sites you belong to.  Ideally choose no more than three or four — depending on the amount of time that you are willing to devote to your overall strategy.  Deeper is better than wider. Try a site, get involved and see how you like it. Most networking sites give you access to a free version so that you can try it out before you commit money and start paying for additional features. New Social Networking sites are being added every week. Don’t go chasing for the “latest, greatest” or the one that your friend invited you to. Stick to a few and work them. If one doesn’t work, then go ahead and add a new one.

In a future article I’ll cover tactics I’ve been using to implement this strategy of focusing on relationships.