Business Networking in the Age of Social NetworksWhat’s changed, what hasn’t, and what are best practices?….Ben GolubCEO,PlaxoOfficeArrow, LLC. 2009.

Agenda:Quick Intro to PlaxoBusiness Networking pre 1999 Core PrinciplesNew Technologies—What’s Changed?Best Practices for:Building connectionsBuilding your personal brandNurturing your network

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

3What is Plaxo?

Who is PlaxoOne of the original networks—Founded in 2002. Acquired by Comcast in 2008Started with a focus on the address bookSocial utility built on the belief that networking can be useful as well as fun, and that being professional does not mean being impersonalBelieve strongly in integration into tools and services users already useLarge and rapidly growing base—highest concentration of C-level execsSource: @Plan April 2009

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

Networking has always been a big part of business

…And a few principles have held trueUnderstand the strength of weak tiesInvest in your networkRespect what is business, what is personalKnow the nodesAppreciate that your “brand” and your network are intimately related

…#1: Understand the strength of weak tiesGranovetter (1973)>80% of jobs found through “weak ties”People with large number of weak ties at advantage compared to those with fewWeak ties more numerous and far-reachingWeak 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 networksImportant for societal cohesionWeak tie/strong tie paradoxDoes ease of forming weak ties today change anything?

#2: Nurture your network (Peary Principle)Networks take nurturingDon’t just contact people when you need something from themBe respectful of others’ “social capital”Ties are more effective when:You know about the other personYou know about their connectionsYou have invested in the relationshipYou can offer reciprocal valueWeak ≠ absentYou 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 connectionsNot all that is appropriate to share with personal connections is appropriate to share with business connectionsStrongest business connections tend to have a personal componentTreating people like people is generally more successful than treating them like Rolodex entries“It’s all personal”

#4: Know the nodesSome people are natural connectors“Distance” between people increases dramatically without superconnectors6% of users account for ~ half of all connectionsInstitutions and groups are also big nodesIf you can be a node, greatIf you can’t, find appropriate ways to connect

#4: Know the nodes

#4: Know the nodes

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

What does this mean in the age of social networking?You’ve got some powerful new toolsPrinciples are largely the sameUnderstand the strength of weak tiesInvest in your networkKnow the nodesYour brand and your network are intimately relatedKnow what is personal and what is businessYou’ve got some powerful new tools…and

Getting ConnectedEasier than ever to see your network, find mutual connections, stay up to dateEasier than ever to make good connectionsEasier than ever to make bad connectionsAs making ties is easier, potential for weak ties to become less valuable

Getting connected TipsGet connected: People get the most out when they are connected to 25 or more people that they knowStart with your existing contacts, build a power address bookAsk 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 invitationsIf 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 messageAsk for introductions very selectivelyKnow 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 startUse the right levels of connection—esp. with groupsDifferent networks serve different communities and purposes. It is probably worth being a member of more than one

Sub-networks grow VirallyATLANTA VISITSEXECUTIVE CHEFSIBM

Personal BrandEasier than ever to see your network, be foundEasier than ever to promote your personal brand and productEasier than ever to participate in your industry, your past networks, etc.Easier than ever to leverage your network and your brandBad reps spread quickly too

Personal Brand TipsPut your best face forward: Make sure that your profile is complete, accurate, and compellingA 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-dateGoogle 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 profileIf you do the above…make it interestingIntegration between services is increasing. Avoid “re-friending” when possibleRespect the relationship between business and personal. Use different levels or different networks to share more personal itemsSince your network and brand are intertwined, make and accept connections selectivelyOnly 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 TipsNurture your network before you need it……You always need itContribute 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 groupsBusiness 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.

ConclusionThe principles of successful networking are still relevant in the age of social networksUnderstand the strength of weak tiesInvest in your networkRespect what is business, what is personalKnow the nodesAppreciate that your “brand” and your network are intimately relatedYou now have some very powerful new tools For ConnectingFor Building Your Personal BrandFor Nurturing Your NetworkUse them wiselyResist temptation for gratuitous product placement

PLAXOThank you!www.plaxo.com OfficeArrow, LLC. 2009.