As part of UpHabit’s series of Book Reviews and Recommendations about being a thoughtful Super Connector, we’re pleased to share what we’ve learned from Derek Coburn about his unique approach to “un-networking” and building stronger communities in his book Networking Is Not Working. UpHabit’s a Personal CRM for thoughtful Super Connectors and those that aspire to be one!
At the start of the Great Recession in 2008, Derek Coburn had a revelation. As a financial advisor with his own wealth management firm, Coburn was no stranger to networking. He had been using networking as a way to add new clients but understood that it was a long-term, but time-consuming, solution to growing his business.
Faced with the challenge of balancing his current clients and adding new ones, Coburn decided to reinvent his approach to networking. From this fresh start, which he calls “un-networking”, he managed to grow his business in the midst of an economic crisis.
In his 2014 book, Networking Is Not Working, Derek Coburn outlines his unique way to manage relationships and build a viable network. As Coburn clearly explains, this approach isn’t for everyone: it won’t get you new business immediately or land you a new job.
Instead, his book is meant to help achieve three things:
Increase the value you provide to clients
Find and build relationships with other professionals
Position yourself to receive introductions to prospective clients
Coburn begins with a look at why traditional networking (think of handing out business cards at networking events…) is not working. At traditional events, most people are looking to help themselves, and everyone has different reasons to be there. Most importantly, a majority is looking for instant gratification.
However, Coburn doesn’t advise skipping networking events, cold calls, or other “traditional” things. Instead, he believes we have to learn how to properly leverage them before they can really increase the value of our network.
A key piece of advice Coburn provides is to never risk your reputation with clients by introducing them to people you don’t truly know. Jeopardizing a real relationship simply to help someone you just met isn’t good networking.
When changing your networking mindset, Coburn highlights the three strategies that will help you become an “un-networker” and help grow your business:
The Ultimate Tiebreaker
The Ultimate Resource
The Ultimate Connector
To become the Ultimate Tiebreaker, you need to differentiate yourself from your competition. One of the best ways to do this is to refer clients to your clients, building valuable connections. Not only are you providing a great service (something your competitor does as well), you’re helping their business as well.
But not all clients need introductions to new business. That’s where becoming an Ultimate Resource comes in. As a financial advisor, Coburn is connected with dozens of experts from a variety of fields. Using this variety, Coburn can help each client get what they need. If a client was looking for a new car, he could introduce them to a client that owned a car dealership.
The last and most important aspect is becoming the Ultimate Connector. By forming a small networking group of clients, professionals, and key relationships, Coburn forged a powerful core of connections that could add value to everyone. By using both the Tiebreaker and Resource strategies, you can easily become the Connector.
UpHabit’s upcoming Introductions feature will make being a Connector, Tiebreaker, and Resource easier than ever. With preset and custom introduction templates, you’ll be able to connect your community members anytime, anywhere from the palm of your hand.
To become a Connector, Coburn goes through each of the 6 aspects:
Clients
Opening Doors
Nucleating
Events
Community
Triggering Ongoing Reciprocity
Each of these parts offers valuable advice and a roadmap to building a unique network. From focusing on the clients you have, to building a community and always staying engaged, each aspect is crucial.
With a large client base and personal network, it can often be difficult to manage your entire network. Using UpHabit as a Personal CRM can go a long way in saving you time while building even stronger relationships. Features like Reminders and Notes will help keep you organized and accountable to all your contacts.
By the end of Networking Is Not Working, you’ll have all the tools needed to kick start your own network and become a Connector, a Tiebreaker, and a Resource. This approach may not be for everyone, but when implemented well, it can be a gamechanger for any professional. Coburn’s book is a must-read for those wishing to improve the quality of their clients, business, and even their personal life.
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