Networking to Increase Your Net Worth

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Debbie Sayles Young presented an OUTSTANDING presentation covering "Utilizing Your Network to Increase Your Net Worth!" at the Feb 2013 program meeting hosted by BDPA Dalllas chapter.

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Networking to Increase Your Net Worth

  1. 1. Networking To Increase Your Net Worth! Facilitated by: Debbie A Young, MBA Doctoral Candidate 2014
  2. 2. Net Worthing OverviewThis workshop willteach theimportance ofcreating personaland professionalnetworks.The audience willlearn how toleverage their NetWorthing skillsDetermining yournet worth and thevalue it brings 2
  3. 3. What is Net Worthing ?Building andSustainingRelationshipsInformationExchangeMarketingSellingSharing 3
  4. 4. What Color is Your Network?Who is BROWN?Who is GREEN? 4
  5. 5. Who is in your NetworkParentsFamily membersColleaguesChance EncountersChurchCommunityOrganizationsSporting eventsProfessors/Teachers/counselorsAlumni Associations 5
  6. 6. What to do at a Net Worthing Event? When you go to a networking event, be prepared with a plentiful supply of business cards, pens, a small notebook, and a well-thought-out agenda for the affair. Make sure you understand just what the event is about. Most networking conversations start with small talk, and most small talk centers on what is happening in the world. To talk about ideas, you have to read newspapers and books, watch the evening news, and subscribe to thought-provoking magazines that give you an overview of the world. Your struggle might be made easier if you understand the influences working on you from the outside. Scan your newspapers for stories that have a bearing on your world, or that simply catch your interest. Save those that particularly interest you, and send or e-mail copies to people in your network of these stories and others that are specific to their interests.Bottom Line: Follow the tried-and-true five-Ps philosophy: Prior preparation prevents poor performance. 6
  7. 7. Net WorthingBank Knowledge!Join groups or organizations to gain recognition foryour skills.Use informal meetings to network.Seek mentors or sponsors to hone your skills andexpand your access to key people.Act as a mentor or sponsor in order to build your ownteam and net worth.Network with colleagues at the next level.Network with key sources to make sure you are in theformal and informal information loop. 7
  8. 8. DiscussionsHow to effectively market Y.O.U.© Create Curb Appeal (Outside) Assess Internal Inventory (Inside) Create Interest (Equity)Power Net Worthing Techniques Career focused events Personal focused events 8
  9. 9. Create Your Curb Appeal (Outside)Your struggle might be madeeasier if you understand theinfluences working on youfrom the outside.Scan your newspapers forstories that have a bearing onyour world, or that simplycatch your interest.Save those that particularlyinterest you, and send or e-mail copies to people in yournetwork of these stories andothers that are specific totheir interests. 9
  10. 10. Assess Internal Inventory (Inside)How do I feel on the inside (wellnesscheck)Your Inside equals outsideClose the gaps and stitch the holesReview, revise, revisit 10
  11. 11. Create Interest (Equity) What makes you UNIQUE (one of a kind) Focus on professional/educational accomplishments first then personal Communication channels Follow-up, follow-up, follow- up (48 hour rule) 11
  12. 12. Key actions for successJoin a professional organizationsBecome a Global ThinkerEngage in Community PhilanthropyMentor someone elseKeep your development plan andresume updated at all times 12
  13. 13. Thoughts while Net WorthingHow will you market Y. O. U.Who do you want to network with?Remember the 48 hour ruleReview, revise, revisitFollow-up, follow-up, follow-up 13
  14. 14. Net Worthing TipsNet Worthing is both an art and a scienceIt is fun, productive, and politically correctMost Net Worthing conversations start withsmall talk, and most small talk centers onwhat is happening in the world.Advice columnist Ann Landers once noted:"People with great minds talk about ideas.People with average minds talk about events.People with small minds talk about otherpeople." 14
  15. 15. Thank Your Network Regardless of what people tell you or how embarrassed they may appear to be when complimented, psychologically, they love the warm fuzzies--dont we all? Timing is important, and you have to know when to lay it on thick and when to make it is just a sincere veneer. Short notes, small gifts, interesting and relevant newspaper or magazine articles are all ways to demonstrate thoughtfulness and to keep you in the forefront of someones mind. A key act of thoughtfulness is returning telephone calls and replying to e- mails as soon as possible.Bottom Line: All of these courtesies demonstrate your respect for the networking relationship. 15
  16. 16. Grow your Net Worth (stay GREEN)www.linkedin.comwww.facebook.comwww.reunions.comwww.classmates.comwww.frasernet.com 16
  17. 17. Timing and your Net Worthing Timing is important, and you have to know when to lay it on thick and when to make it is just a sincere veneer. Short notes, small gifts, interesting and relevant newspaper or magazine articles are all ways to demonstrate thoughtfulness and to keep you in the forefront of someones mind. A key act is returning telephone calls and replying to e-mails as soon as possible. If you cant do it yourself, you should have an assistant or someone close to you do it. Try to avoid mind-grating games of telephone tag. Bottom Line: All of these courtesies demonstrate your respect for the networking relationship. 17
  18. 18. Appendix Keep the Net Worthing – GREEN Remove the BROWN Communicate Review, Revise, RevisitThe truth is that the best time to invest time in networking is when you don’t have the time to network.Why spend precious time on an activity so indirectly related to the work at hand? There are threeimportant reasons to network: 1.To get your work done efficiently 2.To enhance your personal and professional development 3.To invest in future leverage 18
  19. 19. Contact Information Debbie A Young, MBA emaildyoung@gmail.com 214 – 551 - 3349 Website Address www.jpmorgan.com 19

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