Power Dealmakers

For those of you interested in international business transactions or the business networking organization, LinkedIn, a new Yahoo groups discussion forum has been created. Several Yahoo discussion groups already exist on the uses and preferences concerning LinkedIn, such as the Yahoo Group forum called MyLinkedin Power Forum (MLPF), but the messages on that forum were biased. The moderator of MLPF censored opposing points of view. He is the type of person who would criticize a group member’s message, but not let that member respond to his criticism. In many respects, the MLPF and forums like it were just plain boring: a large cacophony of disjointed and disconnected messages on everything from trolling for people with the same last name to using LinkedIn to advertise products or services.

The MLPF forum has a minority core group of people who do not advocate open networking and who resist requests to expand their networks or make LinkedIn a more useful reference tool -- which the latest revision accomplished. Now users of the LinkedIn system can learn profile details about the 3.3 million members of LinkedIn outside their own small networks; however, contact names and e-mail addresses are omitted. One way to make the system more transparent is to include e-mail addresses in the "name" and "job information" fields on Linkedin. That way users outside a person's network can still locate contact details on that user.

As I scanned the messages on alternative LinkedIn forums for the past two weeks, I did not learn anything new about (1) taking care of my network, (2) profiting from my networking, or (3) communicating better and faster with less stress. It is hard to teach an old dog new tricks. Instead of trying to reform one or more of the existing LinkedIn discussion forums, we created a new forum with a more investment banking, law, and tax flavor content.

Our new forum, which is called Linkedin_High_Power_Dealmakers, focuses on making deals, whether structured finance transactions, project finance, placing key personnel in companies, finding teaming partners, trends in the economic and financial marketplace, and the like. Members of this Yahoo forum believe that expanding business networks to reach out to strangers is a great idea. We reject the (old-fashioned, European) mentality that we will only exchange greetings and discuss business with someone to whom we have received a formal introduction. Unlike other Yahoo groups focused on Linkedin, our new forum will discourage two-bit opinions about special features of Linkedin or non-business uses, such as searching for old friends who attended high school with a given user. We have less discussion about Linkedin itself, and more discussion of deal making (using Linkedin or other tools). In fact, we provide honest comparisons of contacts made through openBC, Ryze.com, and Linkedin, and which one offers a better networking service for high-powered professionals.

This group is devoted to using the web-based Linkedin.com system to expand business and professional contacts for purposes of making deals: new business financing, finding new business partners, project finance, outsourcing staff needs, professional services, management consulting, recruiting key personnel, and the usual panoply of domestic and international business transactions. Some of our members joined because of the one-sided and biased nature of discussion forums such as MLPF. These forums seem riddled with double standards and hypocrisy, not to mention the bulk of the messages are just plain boring.

Examples of current message threads including an opportunity to invest in a movie deal; people interested in sponsoring business ties to Romania, Hungary, Poland, the Czech Republic, and Slovakia; mergers and acquisitions in the U.S. energy industry; 50 jobs available in the energy industry; best business practices in obtaining small business financing, and much more.

On Fridays, we welcome parodies of comments made on other LinkedIn discussion forums, particularly MLPF. We have a little fun with these parodies as we get ready for weekend breaks.

Sharpen Your Business

Most people become lax at maintaining their professional business network when they’ve worked with a company a while. With the constant rounds of mass layoffs, having a dead or outdated business network can mean business suicide to even the most skilled expert.

Whether you've been laid off and are looking for work or are a small business owner trying to grow a business, connections are crucial for business success. But it's not so much who you know as who knows you. And that means networking effectively should be one of your priorities. Here are a few tips to help you get the results you seek from business networking.

- Before you go to a networking meeting, be prepared with a goal. Who do you want to meet? Why are you there? Have a conversation icebreaker ready to get to know the right people.

- Don't reserve every seat and act like a grump if someone unfamiliar wants to sit there. Welcome the opportunity that a stranger presents. They may be your next prospect.

- Treat referrals like gold. Contact the referral within a day, if possible. Let the referrer know how things went.

- Online, your email creates the first impression just like your physical presence does at face-to-face meetings. Be the business professional that you are.

- Any email you send has the potential for being forwarded to an untold number of people. Before you press the "send" key, give your message the "front page" test. Ask, "How would I feel if this made the front page of the newspaper?

Myths and Realties

Can we agree about the meaning of networking? I don't mean computer networking. For our conversation, business networking is about getting to know people whom you can help and who can help you. Does that simplify it for you, enough to feel better about it?

Many people have a complex definition for networking or get stymied by the action the verb implies. Let's take some of the mystery out of a basic way to get to know people and have them get to know you. Then, if either person needs something, there's an opening to facilitate this - it happens to be called, networking.

Confusion 1

· Networking is about shoving your business card in someone's hand and boasting about what you do.

Reality

· Business networking can include exchanging business cards, usually following a brief get acquainted conversation. Learn to ask one simple get-to- know- you question with comfort and curiosity: "What do you do?" The business card exchange is not a requirement. Getting the help you need from someone - a business referral, a contact, a job - doesn't come from a business card exchange. It comes from relationships in networking.

Confusion 2

· Some of us think when we attend an event with the word "networking" in it, that we are the only one there to - listen to the program, meet people or make our boss happy.

Reality

· Everyone is at “networking” events for similar reasons! To build your networking expertise, think about everywhere you go as being a form of networking. Waiting in supermarket lines, going to sporting events, enjoying festivals, stopping in your local bookstore or library, everywhere you go, there is an opportunity to meet and talk with people you don't know. The "event" then becomes just another way of meeting people. We are mingling with people who are at this "event" for similar reasons to our own!

Confusion 3

· Networking is work.

Reality

· Okay; this is reality. But it's work to find pleasure in! Stay in touch with people who you enjoy and respect, even if there's no immediate need. A handwritten note will go a long way in them remembering when you do need them. Is that so tough?

Believe It!

It is written, "ask and ye shall receive, knock and it shall be opened unto you, seek and ye shall find." If we don't ever ask, if we don't knock, if we don't seek then we won't receive! It's acceptable to ask for what you want, particularly in networking.

Pat Weber is a coach, certified telelcass leader, and corporate trainer. In her business coaching, she works with small business owners, independent professionals and salespeople to help them get more of what they want sooner than later.