The biggest cost in Social Networking is time rather than money. Social Networking takes time. When I talk to newbies about SN, they often state that they don’t have time to do this. And this is an accurate statement. They haven’t allocated time to do this and therefore they don’t have it.

Fact is that we all have the same amount of time. It is a matter of how we choose to allocate the time that determines what we do with our time. The reason I HAVE time for Social Networking is because I have allocated it. That time didn’t exist before. I had to take that time away from something else and put it into Social Networking. That something else for me was mostly watching TV.

Opportunity cost refers to what else could you be doing with that resource. That is a cost that needs to be factored into the equation how much does something cost. It is a hidden cost and yet it is very real.

When I looked at the opportunity cost of TV vs. Social Networking, it was a no-brainer for me to re-allocate that time.

Nowadays, I still have to look at my opportunity cost with Social Networking. In other words, what else could I be investing my time in that would yield I higher ROI than spending my allocated time with Social Networking? Until I find something that yields a higher ROI, then I will continue to allocate Social Networking time.

This excerpt was written by Andy Lopata – a fellow writer from The National Networker (TNNW). It is excellent advise for both newbies and seasoned Social Networkers alike.

It’s very easy to drop your guard when networking online. There tends to be a lot of banter and discussion. It’s also a form of networking that’s very accessible at any time, irrespective of your mood or sobriety.

As someone recently said on Twitter, “It can take 1,000 tweets to build a reputation, and one to ruin it.”

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Twitter is one of those platforms that you can use any way you want.  However, here’s a concept I just learned from Twitter Genius Dan Hollings. He mentioned that the main purpose of Twitter is to increase the number of people who LISTEN to you vs. the number of people who FOLLOW you.

Great distinction!

People following you is good for your Ego. People listening to you is good for your pocketbook — or your relationship building efforts.

So if you are new to Twitter, think in terms of what would have people want to listen to you? What content are you going to be sharing that makes it worth listening (following) you?

This seems to be a common reason I hear from many folks as to why they are not participating in Social Networking. Having worked in the personal development field for almost 30 years, Time is one of the most prominent reasons people have for NOT doing things.

Fact is that you can gain benefits from Social Networking if you invest as little as 10 minutes per day or one hour per week. Obviously if you have big goals, you will need to invest more time than this. However when I first started in this arena, I limited myself to one hour per week and was able to get results.

The key is to remove the inertia and get started. At first, your purpose should be to just learn something new. Ignore results. Simply focus on getting comfortable with the tools, the language and the concepts.

As you do this, you will start getting into some conversations. You will connect with people you know or meet new people. You will see that it is OK to participate at a low level at first. Gradually your level of comfort and expertise will increase and when it does, so will the results you get. As you get more results, you will WANT to allocate more time. And once the desire is there, you will FIND the time.

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?

If you are a small business owner, one of the best tools to grow your business is networking. What exactly is networking? It is the exchange of information, support and/or referrals. While many small business owners already do face-to-face offline networking, many are still not using online (Social) networking (SN). This is a major strategic mistake. While I don’t believe that face-to-face networking is going to go away any time soon, social networking is becoming more prevalent.  It can greatly enhance your offline networking.

The main reasons people don’t use SN are: they don’t know how to get started; there are too many choices out there; and it’s too overwhelming. In this article I will attempt to address these objections.

Why use Social Networking (SN)?

Networking is all about building and sustaining relationships. I have found you do this by having quality conversations with people. The more quality conversations you have with people, the stronger the relationships. Another element that helps strengthen relationships is contributing to the success of others. Any time you can share information, support and/or give referrals that will help others, you are building “social capital” that will later allow you to capitalize on for your business. As an analogy, you make deposits into your bank account so that you can later make withdrawals.

SN allows you to do this much faster and more efficiently than face-to-face networking. By engaging in SN you will build a stronger, wider network of people you can serve. This means that you will have a deeper network that will serve you and likewise you them.

SN also allows you to open conversations. Every time you join a new site, invite a new person, share a resource, post a blog, etc. you are inviting others to participate in a conversation with you. These conversations have often led to sales for my products and services. An example of this was a former client of mine who had invited me to join his network–because he found I was already in the community he had joined (see below LinkedIn). His invitation opened the door for me to start a conversation about what was new with him in his life.  This led to a direct sale for one of our courses for both he and his new wife. Prior to this online encounter, I had no current information on him or a way to contact him. Their course registration would not have happened without this online vehicle.

How to get started

I will share with you how I’m doing it. This is by no means the only, nor necessarily the best method. It is just how I’ve done it. The system I’ll outline has some specific elements that anyone can duplicate or use as a model to build their own. One thing that all of the sites I’m mentioning have in common is that they are free. They also allow you to control the amount of information you receive. I’m also sharing them in the chronological order I started using them. If you devote just one hour per week to your SN activities, in time, you will see a significant payoff.

LinkedIn
www.LinkedIn.com

I use this site to build my network of people that will allow me to play the role of “matchmaker.” The people I have linked with are, for the most part, people I feel comfortable referring to others and referring others to them. One of the ways I use this site is with my BNI – Business Network International referral partners. Whenever I do a one-to-one meeting with them, I have them look through my contacts at LinkedIn and identify who they would like me to introduce them to.

Another way I use LinkedIn is by asking my network if they know of a particular individual or vendor that is not in my direct network. This way I can expand my reach way beyond what I could on my own. For example, last week I received an inquiry from one of my clients to see if I knew a videographer who specialized in doing work for websites. I didn’t. However I asked my network in LinkedIn, and I was able to get two different people that came highly recommended.

The third way I use LinkedIn is by building my credibility. Building trust is essential in building strong business relationships. One of the best ways to build trust is to have others give you endorsements and testimonials. LinkedIn makes it very easy to request and receive these recommendations.

To get started in LinkedIn, you create a free account, and you start building your network. The easiest way to do this is to import your address book contacts from whatever database you use – Gmail, Yahoo, Outlook, etc. By doing this, you can immediately see who is already in LinkedIn.  Connecting with them is then just a matter of you clicking a few buttons to send them an invite. If they are not already in the system, you can use a different LinkedIn invite to ask them to join. After joining, they can link to you. This takes an extra step on their part, but not on yours.

Once you start your network, you can continue to add people. Remember it is not just about numbers. It is about quality. However, the more quality connections you have, the more your network is worth–to both you, as well as the others you connect with.

Plaxo
www.Plaxo.com

I use this site primarily to be reminded of people’s birthdays. They have a reminder system that integrates seamlessly with an electronic card system that makes it a breeze to send a birthday reminder. There are many other uses for this site, but this is how I personally use it.

To get started, you create your own account and start building your network. Use the same system you used for LinkedIn. You will grow your network the same way. Plus, you will create goodwill when you use the Plaxo auto-feature of sending them timely birthday wishes.

Biznik
www.Biznik.com

Biznik is an online community that focuses on its members sharing resources and information. In this site you can write and submit articles – such as this one – that are useful to the members. This will allow you to demonstrate your expertise and make it easier for people who have a need for what you do to possibly do business with you.

I also use Biznik to promote my free telecourses and my new stay in touch marketing system called QuoteAction. Biznik also has live events that allow you to meet in person with the people you have met online.

Twitter
www.Twitter.com

Twitter is a microblogging site. Microblogging is a term that refers to making very short posts. You’re limited to 140 characters which is about 20-30 words. While most people who use this medium currently do it for personal, and in my opinion soft reasons, there is a business use I have identified. Since I have both a blog and a podcast, I can put out a “tweet” (announcement) every time I have a new post or episode. I can also use it to share links to articles or sites that would be valuable to my network. For example, the people following me on Twitter, will be notified when this article is finished and posted.

Twitter also allows you to build “informal intimacy.” By sharing more about who you are and what you stand for, people will get to know you better. And the more they know you, the more they trust you. You can follow me and get updates

So there you have it. A beginner’s guide for non-geeks to get started integrating Social Networking (SN) with Offline Networking. I would really welcome comments as to how YOU are using these platforms and the results you’ve experienced–so that I can learn from you.