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1. Map the network
One of the first steps in the network-development process is to determine what types of services your target clients need most, and what professionals can best fulfill those services. Come up with a list of all the resources you typically find yourself recommending to your clients. Include the standard professionals, such as such as estate planners and CPAs, but also include other financial resources, such as mortgage brokers, insurance agents and business lenders. Consider expanding your list to include non-financial professionals as well, such as real estate agents, family therapists or government resources, which can help resolve the non-financial issues that often crop up in the planning process.
As you develop your list, recognize that personality conflicts can sometimes get in the way, so consider developing connections with more than one professional in each part of your network. “Build a large and robust professional network with multiple options for each type of professional, so you can help clien
2. Court centers of influence
As you develop your network, you’ll quickly realize that some people can help you accomplish your networking goals faster by putting you in touch with other like-minded professionals. Known as “centers of influence,” these contacts can act as gateways for you and your clients to access the resources you need. “An excellent networker is like an excellent reference librarian,” says Garrett. “It’s about knowing where the right references are.”
Look for centers of influence by identifying individuals who come into contact with people connected to your profession, such as the publisher of a financial trade magazine. But don’t be afraid to look beyond the traditional boundaries of a professional network when considering centers of influence. By way of example, Garrett points to Realtors as a good resource to connect with, as they are often acquainted with new people who move to a community. Small-business owners and even hairdressers also have the potential to be valuable centers of influence, according
3. Make a connection
As you begin to build your network, start with the professionals who are already familiar to you. “Each one of us already works with insurance brokers, attorneys, and accountants in our everyday lives,” says Garrett. “Start with these individuals who you already trust.”
Reach out to the individuals you work with and explain that you’d like to use them as references for your clients. In doing so this in an opportunity to explain more about what you do and how you do business. Think of this as a base from which you can branch out to other professionals and expand your network, says Garrett. Ask them what resources they know and trust and whether they would be willing to make a mutual introduction.
The next step is to start contacting these references and other contacts that you may not already know. Introduce yourself through an email or a phone call. Explain that you’re interested in adding them to your network of contacts. Ask them if they can meet you in whatever way is most convenient to them whether
4. Prepare for your first meeting
When meeting a professional contact for the first time, come prepared. Before your first meeting, be sure to learn as much about their background as possible. Read any online materials about your contact, including what you can find from their website and social media presence, such as their LinkedIn page. This way you won’t risk wasting anybody’s time asking basic questions for which you should already know the answers. “There’s nothing worse than someone asking for a meeting to connect with you, only to have them sit down across the table from you and ask you what you do,” says Garrett. “It shows a lack of preparation and respect for your time.”
When you do meet, focus the conversation on explaining your values and how you do business. Offer an explanation about how connecting can help you both grow your respective practices. And be prepared to answer any questions the potential contact might have—it’s just as important to be clear about your own values and goals for this meeting as it is to do the resea
5. Don’t sell your services
Networking is commonly and erroneously thought of as a two-way transaction. Your contact may use the networking conversation to learn more about you, but it’s not the time for a sales call. “I would say that in almost every environment it’s a distasteful thing to do,” Garrett says.
Patience is a virtue. Building a professional network is first and foremost about building a list of resources that are useful to your clients, Garrets says. Don’t build the list with the mindset that you will get something in return. That said, it is completely appropriate to let a contact know what your position is in the marketplace and your capacity for taking on new clients, says Garrett. With that information, when a contact comes to trust you and understand the services you provide your clients, that’s when they are likely to start referring their own clients to you.
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7. Join professional organizations
Professional organizations can be a good way to meet people working in your own field or in other fields that are of interest. Garrett suggests looking for organizations where the ethos is about helping one another, but warns that no one should join an organization for the express purpose of self-gain. “You don’t want to be someone who joins for the sake of joining and then ends up not participating,” she says.
Instead, pick an organization you are passionate about and one that will help you continue your own education. Garrett notes that professional organizations are great places for you to meet veterans of your business who can help you learn from their experience.
“The more you can get out there and have people know you as a human being and that you’re passionate about you work, the more people will come to you and want to know about you,” says Garrett.
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