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Business Relations/Networking • www.lifethenfinance.com www.lifethenfinance.com 1
Networking • Is practice of making contact and exchanging information with other people who have interests in similar areas. • **Networking is one of the most important business skills you can have in today’s age.** www.lifethenfinance.com
Networking Day-to-Day: • As a business professional you need to network day-to-day. • Building and maintaining relationships with friends is important too. • Having contacts in the professional field and from high school and college is important with networking. www.lifethenfinance.com
Ways to Network: • This can even be done through Facebook, twitter, linkedin, meetups or emails. • Make efforts to reach out and meet new people in person or online. • Be active and participate in social and/or extracurricular activities. • Getting involved with community service, student groups, etc. www.lifethenfinance.com
Elevator Pitch: • Elevator pitches are relaxed and informal part of networking. • Always state your current projects and it’s good to include what you’re currently working on because they may know somebody that can help. www.lifethenfinance.com
Staying Ahead of the Game… • Younger professionals need to be sure to emphasize the wiliness to learn and receive direction, when they network. • People are willing to help if you only ask. • Educate yourself in your areas of interest. • Keep well informed with what’s going on in your field of interest. • News, blogs, RSS feed www.lifethenfinance.com
Staying Ahead of the Game… Cont…. • Seek ways to help others accomplish goals while they help you accomplish yours • Hang out at the locations that the people you need to know hang out • Example: Attend trade shows, meetings, etc www.lifethenfinance.com
Networking… Cont… • If you are starting your own business, research competition and pay close attention to whom they are partnered with. • Facebook and LinkedIn are the most common ways to network online with other professionals. • Consider joining the virtual world of networking. www.lifethenfinance.com
Networking Online: • Do not post personal information like your address • Exercise extreme caution. • Be mindful of what you post online. • Start a business account for both Facebook & LinkedIn with a professional name. • Simple ways to start; add all the groups that relate to an area you think will help you reach your goals. www.lifethenfinance.com
Networking online: Cont… • Write a personal note to the head of the groups and in a sentence or two let them know what you’re about and what you are looking to accomplish and your support. • Example: “Thanks for joining ________ group. I’m graduating from college next year but am working to get into this field. Keep up your commendable efforts and please let me know if I can help out in any way”. Your Name. By the way do you have any suggestions for someone looking to get into this field?” • Make sure to have your elevator pitch ready to respond to questions on these sites. • Be real. Don’t pretend to be an expert . . . let them know your starting to look into this field. People naturally want to help others. • Continue to add people to your network and keep in touch from time-to-time by sending them relevant news or other information. www.lifethenfinance.com
Mentors: • Mentorship is a relationship with a person that is experienced in the field or area you seek help in. • Most mentorships build over time and many years. • A mentor can help with trying to get you a job, promotion, starting a business or even advice on personal stuff you’re trying to figure out www.lifethenfinance.com
Finding a mentor • Decide what your goals are and what type of mentor will help you get there. • Think about the skills you’d like to develop and locate mentors that can help you develop those skills. • Where to find a mentor: • Remember this is a long-term goal to find the right mentor . . • College alumni organizations . . . ask career center. • Professional organizations in your field • Social networking • Friends of friends or family • Through an internship • A boss or employer www.lifethenfinance.com
Trusted Advisors • It is important to work with trusted, reputable and established professional within any given field. • Many financial planners, investment bankers, Realtors, loan officers and other financial professionals often work off of commission and may not give the best advice. www.lifethenfinance.com
Trusted Advisors: Cont…. • Overtime, you will build a team of trusted professionals • College planner • Tax planner – the tax code has over 15,000 pages . . . either learn them all or find a professional to do your taxes. • Lawyer • Financial coach, advisor or professional • Realtor & mortgage professional – if you plan on purchasing a home. www.lifethenfinance.com
Questions to Ask Potential Advisors: • How many years have you been in your respective field? • Are you knowledgeable in real estate matters? • What are your fees and how do you get paid? • What credentials do you have? • What professional boards do you belong to? • Have you ever had any disciplinary action? • What is your past experience? www.lifethenfinance.com
Questions to Ask Potential Advisors: • What other services do you offer? • How many years experience do you have? • What credentials do you have? • Do you invest your own money in the stocks or funds you’re recommending? (If not, why not?) • What professional boards do you belong to? • Have you ever had any disciplinary action? • What other services do you offer? www.lifethenfinance.com
