How to Get an ROI from Your Networking Activities

Ask for Small Favors If You Make a Bad Impression

Many people believe that first impressions are everything and that if you make a poor one there is little chance of forming a mutually beneficial relationship. However, unless you do something unforgivably egregious, you can redeem yourself.

An abundance of psychological research has found that asking for small favors is one of the easiest ways to change someone’s opinion about you. The key is to ask for something that flatters the other person.

This phenomenon has been most notably used by Benjamin Franklin who won over one of his biggest foes by asking to borrow a rare book from their collection. Since Franklin was a well-known literary enthusiast, his foe felt smug that Franklin needed to borrow one of his books. When Franklin returned the book with a polite thank you note, it sparked a literary conversation and the two eventually became friends.

To achieve similar results with people who you think don’t like you, you need to ask for small favors that appeal to their egos. Some examples include:

• Ask a known foodie for restaurant recommendations to take a client or a date.
• Ask a super-connector to be introduced to someone in their network.
• Ask an intellectual for feedback on something they’re an expert in.

Figure out what your targets are proud of and ask for a super easy favor that shows you respect your expertise. It’s the easiest way to start a conversation with someone who’s not interested in fostering a connection with you.

Related: 5 Proven Networking Strategies that Will Drive Your Success

Join or Start a Mastermind

Unlike most networking groups that focus on building relationships, masterminds help grow your business, acquire new skills and/or achieve another goal that everyone in the group is passionate about.

Joining a mastermind is one of the most effective networking activities because the introductions, advice and other resources you get tend to be far more valuable than what you get from other networking activities since these connections have a deeper understanding of your business and goals.

Though every mastermind has its own norms, they’re generally small groups and give every member opportunities to share their challenges and get feedback from the rest of the group. Many groups also have an accountability system to ensure every member is making progress toward their goals.

To join a mastermind, search LinkedIn, Meetup and other networking sites. Can’t find one that matches your goals? Start your own by posting your idea on LinkedIn. Chances are, there are people within your first and second connections who are struggling with the same challenges you are and would love to join a group.

Related: How to Strengthen Your Network with a Contact Management System 

Speak at Conferences Instead of Just Attending Them

Though conferences bring together some of the most well-connected people in your industry, the chances of making a connection that results in a major business deal are slim. Speaking at conferences significantly increases the likelihood that you’ll make valuable connections since, instead of being a random attendee, you’re a leading expert who people want to meet and do business with.

There are three ways to secure speaking opportunities:

1. Leverage your existing network to get in touch with event coordinators. If you know the right people and have a great presentation, it’s easy to secure spots.
2. Have your business sponsor events. Most conferences reserve speaking slots for their top-tier sponsors.
3. Pitch yourself to event coordinators. This process is time-consuming but it’s the only option if you lack the connections and/or budget to get in other ways.

Unless you have connections who are event coordinators, this is the most time-consuming and expensive networking activity. Use it only if achieving your networking goals will generate a financial return.

Maximize Your Networking ROI

Ultimately, to get an ROI, your networking efforts need to be highly targeted, focused on building deep relationships, and mutually beneficial. Master these three activities and you’ll build a strong, diverse network even if your schedule doesn’t allow you to meet new people consistently.

If you don’t have the time to develop these networking habits, a virtual assistant can help. Our managed VAs are trained in what we call “Mindshare Management.” It’s a system to help you stay top of mind and takes the burden off you so that you don’t have to remember when to follow-up or what key events are coming up – your VA will manage it all so you can focus on fostering strong relationships.

Want to learn more? Download our free guide to leveraging a virtual assistant for professional networking: