Development Magazine Summer 2012

New Voices - Networking 101: Tips for Getting Ahead in the Business World

Networking seems like such a natural activity for professionals in the commercial real estate industry. We are an intelligent, politely aggressive and outgoing group of entrepreneurs. But walking into a crowded room of people and not seeing a familiar face can be intimidating even to a “Type A” extrovert. How do you overcome intimidation? Read on to glean a few ideas and valuable guidelines to boost confidence.

First Impressions Say a Lot

When initially meeting someone, 93 percent of the first impression is based on non-verbal data such as appearance and body language -- only seven percent is influenced by the spoken word! Not that what is said is unimportant. After the initial impression, what is said is very important and becomes the substance and personality.

Attire Rules of the Road

In a recent meeting with a well-known national developer, the subject of women’s attire came up. The developer commented that business attire needs to actually look like business attire and that too many women are not dressing appropriately. They are dressing more for a cocktail party or clubbing event. Image and reputation go hand-in-hand.

As Emily Post had stated on appropriate dress:

  • Represent your company
  • Keep it understated
  • Dress for the job you want
  • Keep it professional
  • Keep it neat
  • Keep it clean
  • Don’t reveal too much
  • Dress for the time of day
  • Don’t be a fashion victim

Another helpful hint is to divide your closet into three sections of attire: work, weekend and evening – and that includes shoes! I always appreciate casual Friday and “jeans day” more when I see men in a collared shirt with their shirt tails tucked in and their shoes polished!

Be Prepared for Networking Opportunities

Always go to an event or meeting armed with a solid knowledge of the audience, current events and business acumen. Remember that first impressions do count, and you only have one opportunity to make a good one.

When meeting new people, be interesting and interested. People love to be asked questions – it’s an ice breaker for them as well as for you. Once engaged in a conversation on a given topic such as a vacation, March Madness or whatever the season dictates for a current “safe” topic, the rest will flow. Simply find common interests! If it doesn’t feel like the conversation is going well, an easy way to disengage is to politely excuse yourself, saying you don’t want to monopolize their time. Alternatively, grab a colleague and introduce them and then excuse yourself.

Think about the best networking opportunities. Is it a one-on-one meeting over a meal or a drink? Is it an industry association gathering or serving on a committee? Philanthropic interests? Determine where the prospective clients are involved, and determine your comfort zone.

When joining an organization, find your passion and where you can contribute the most, and then get involved in order to maximize the return. Some may be more comfortable in a small group rather than networking at a large event. Choose how you spend your time wisely.

Cultivate and Develop Relationships

Once involved in an organization or a community, start building relationships. There are simple keys to building a lasting relationship:

  • Keep in touch
  • Follow up and follow through
  • Be sincere
  • Send appropriate articles
  • GIVE before you expect to receive
  • Be patient!

Offer to help people. Connecting the dots is an exercise that will continuously come back to you as an unexpected bonus. Assist people searching for a job or their children looking for summer internships. It’s another opportunity to reach out to someone you wish to develop a relationship with, without asking for business, but rather offering an opportunity.

Know the difference between like, respect and trust. They are all important in developing relationships.

Internal networking with peers is a great way to practice conversation skills. Happy hours are a good time to practice working the crowd and talking to as many people as you can. People are often surprised at what they learn about colleagues when engaged in casual conversation. The common bond that comes from discovering people’s interests, learning about their families, where they went to school, how they like to spend their vacations are all part of building a relationship.

The Road to Respect

Become an expert on a specific market, deal structure, legislation affecting the market — basically anything that will provide recognition as a thought leader. Don’t be afraid of speaking engagements for the target audience. A colleague recently put together an entire program on tax in the Washington, D.C., market for a local real estate organization. Not a “sexy topic,” but it was highly acclaimed and elevated her presence among peers and clients. I predict she will end up Board president of the organization.

An often overlooked, but incredibly important area of networking and business development is etiquette! Proper table manners can make or break an impression when entertaining during a meal. The same goes for happy hours and office parties when drinking with colleagues or prospective clients. Be conscious of your consumption so as not to be the talk of the office the next morning. A good rule of thumb is to remember that you are representing your firm at work, at events, and even on weekends. One never knows when you might run into an important prospect or client so always put out the impression that generates respect.

The next important concept is trust. Given the frequency of high-level conversations with clients and prospects, maintaining confidentiality is key. An excellent book is “The Trusted Advisor” by David Maister, a well-published expert on professional service management and relationships.

Finally, it is imperative to return phone calls and emails within 24 hours, preferably in the same day. This is an important indicator of respect. Equally important is always being on time, or better yet, early for meetings. Reverence of someone’s time will earn respect and build confidence that people can rely on you.

Networking and business development comes easy for some, but even if your card does not read “business development,” it’s what we all do each day. Building client relationships to further careers is an art that can be achieved, but like any skill it takes some tools and it takes practice.

 

Related Links

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From the Archives: Business / Trends Articles from the Previous Issue

Business

On Business - Eight Ways to Control Costs and Boost Profits 

Commercial real estate firms that are not fully using their IT professionals on both the business and technology sides of the company are potentially leaving profits on the table. Thomas Russo, CIO, Akridge, suggested eight ways the IT department can help control costs, enhance building efficiency and give the leasing department exciting things to talk about on building tours.

iPad

On Business Tech Takes - iPad Is Key Tool for Commercial RE 

For commercial real estate practitioners, one of the most powerful tools in their business arsenal may well be Apple’s iPad and the many apps that are now available.

Selected For You

Man and woman shaking hands

Duke Realty Increases Diversity and Inclusion 

A national CRE company works to expand diversity within the company and throughout the industry.

shuttle bus

Electric Shuttle Buses Come to Chicago 

JLL and Proterra provide the nation’s first all-battery-powered electric bus fleet.