Ben Golub: Business Networking via Web 2.0

Business Networking in the Age of Social Networks
What’s changed, what hasn’t, and what are best practices?….
Ben Golub
CEO,Plaxo
OfficeArrow, LLC. 2009.

Agenda:
Quick Intro to Plaxo
Business Networking pre 1999
Core Principles
New Technologies—What’s Changed?
Best Practices for:
Building connections
Building your personal brand
Nurturing your network

3
What is Plaxo?

Who is Plaxo
One of the original networks—Founded in 2002. Acquired by Comcast in 2008
Started with a focus on the address book
Social utility built on the belief that networking can be useful as well as fun, and that being professional does not mean being impersonal
Believe strongly in integration into tools and services users already use
Large and rapidly growing base—highest concentration of C-level execs
Source: @Plan April 2009

Networking has always been a big part of business

…And a few principles have held true
Understand the strength of weak ties
Invest in your network
Respect what is business, what is personal
Know the nodes
Appreciate that your “brand” and your network are intimately related

…#1: Understand the strength of weak ties
Granovetter (1973)
>80% of jobs found through “weak ties”
People with large number of weak ties at advantage compared to those with few
Weak ties more numerous and far-reaching
Weak ties provide people with access to information and resources beyond those available in their own social circle
Weak ties only way to tie together disparate networks
Important for societal cohesion
Weak tie/strong tie paradox
Does ease of forming weak ties today change anything?

#2: Nurture your network (Peary Principle)
Networks take nurturing
Don’t just contact people when you need something from them
Be respectful of others’ “social capital”
Ties are more effective when:
You know about the other person
You know about their connections
You have invested in the relationship
You can offer reciprocal value
Weak ≠ absent
You can make weak ties stronger

#3: Godfather principle. What is business? What is personal?
“It’s business, not personal”
Not all personal connections are good business connections
Not all that is appropriate to share with personal connections is appropriate to share with business connections
Strongest business connections tend to have a personal component
Treating people like people is generally more successful than treating them like Rolodex entries
“It’s all personal”

#4: Know the nodes
Some people are natural connectors
“Distance” between people increases dramatically without superconnectors
6% of users account for ~ half of all connections
Institutions and groups are also big nodes
If you can be a node, great
If you can’t, find appropriate ways to connect

#4: Know the nodes

#5: Your “brand” and your network are intimately linked
Your network spreads your brand
Your network influences your brand
Your activity within your network influences your brand
Your brand influences how well you can grow your network
Your network is a reference check on your brand

What does this mean in the age of social networking?
You’ve got some powerful new tools
Principles are largely the same
Know the nodes
Your brand and your network are intimately related
Know what is personal and what is business
You’ve got some powerful new tools…and

Getting Connected
Easier than ever to see your network, find mutual connections, stay up to date
Easier than ever to make good connections
Easier than ever to make bad connections
As making ties is easier, potential for weak ties to become less valuable

Getting connected Tips
Get connected: People get the most out when they are connected to 25 or more people that they know
Start with your existing contacts, build a power address book
Ask people to connect. You’ll have the most success if you choose connections thoughtfully, make sure that you have a complete profile, and personalize your invitations
If you are trying to connect with someone you don’t know well, be sure to explain why you want to connect—or consider some form of direct message
Ask for introductions very selectively
Know the nodes. There are thousands of groups , based on common interests, companies, schools, professions, etc. Check out a few groups to see if they are right for you.
Know the nodes. Company (and former company) groups, alumni associations, professional associations are a good place to start
Use the right levels of connection—esp. with groups
Different networks serve different communities and purposes. It is probably worth being a member of more than one

Sub-networks grow Virally
ATLANTA VISITS
EXECUTIVE CHEFS
IBM

Personal Brand
Easier than ever to see your network, be found
Easier than ever to promote your personal brand and product
Easier than ever to participate in your industry, your past networks, etc.
Easier than ever to leverage your network and your brand
Bad reps spread quickly too

Personal Brand Tips
Put your best face forward: Make sure that your profile is complete, accurate, and compelling
A picture is worth 100 connections (…well, ~50% greater success rate)
Can the right people reach you? Make sure your work info is complete and up-to-date
Google yourself! What happens when people search for you on the web? Make sure you’re in control with a great public profile.
Your network and brand are intertwined Do you have a blog? A portfolio of your prior work? Articles or patents? A great personal web site or profile? Do you twitter? Link to them from your profile
If you do the above…make it interesting
Integration between services is increasing. Avoid “re-friending” when possible
Respect the relationship between business and personal. Use different levels or different networks to share more personal items
Since your network and brand are intertwined, make and accept connections selectively
Only make introductions or recommendations you believe in

And in those awkward circumstances, you can always use these lines…
“You’ll be lucky if you can get him to work for you”
“I can’t recommend her too highly”
“Literally nobody would be better for the job”

Nurturing your Network Tips
Nurture your network before you need it…
…You always need it
Contribute content, share articles, add to discussions.
Traveling to a new city? Attending an interesting conference? Update your status, so that people know what you’re up to and where you’ll be.
Business is personal. When you see content you like, “like it,” leave a comment, or re-share it with other people or groups
Business is personal. If the network lets you know when your connections are having birthdays, changing jobs, or posting interesting content… Send them ecards, write them messages, or just pick up the phone.
Business is personal. Before reaching out to someone for a reference, BD opportunity, etc.—take a moment to look at their profile, status, tweets, etc.
See a job that you think might be perfect for a colleague? See an article that someone you know would like? Let them know.
The physical world is still important…keep going to conferences, having coffee with former co-workers, etc.

Conclusion
The principles of successful networking are still relevant in the age of social networks
Respect what is business, what is personal
Know the nodes
Appreciate that your “brand” and your network are intimately related
You now have some very powerful new tools
For Connecting
For Building Your Personal Brand
For Nurturing Your Network
Use them wisely
Resist temptation for gratuitous product placement

PLAXO
Thank you!
www.plaxo.com
OfficeArrow, LLC. 2009.

Ben Golub: Business Networking via Web 2.0

by LIFT Summit 2009 on Sep 23, 2009

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Ben Golub: Business Networking via Web 2.0 — Presentation Transcript