BNGIowa

I'm On LinkedIn--Now What?

I remember when I first found out about LinkedIn.  It was a couple years ago.  I thought "WOW!  I can upload all of my contacts, see if they're on here, invite the ones that aren't, and I'll be on easy street for the rest of my career doing business based 100% on referrals.  I quickly got to 20 connections, got no business after a week, so I quit working it.  Over a year later, I got a request to connect from someone.  I searched through old emails and finally found my login.  I connected to them and then spent an afternoon searching for other people I knew.  I built my network to about 50 people and then left it alone again.  I just couldn't figure out how to make this work for me.  I was connected to 50+ people, the majority of whom had 3-5 connections with one being me.

Then I stumbled across this book called "I'm on LinkedIn--Now What???"  I finally read it a couple weeks ago.  Now, I've not buried my head in the sand when it comes to social media.  I have a blog.  I'm on Twitter, MyBlogLog, MySpace and a few others since I've signed up on just about every networking site that I've been invited to join figuring I'd be able to pick my favorite and then get everyone I was connected to on the other sites to join me.  Wrong!  That's like going to a networking function, meeting someone you like, and then telling them you'll exchange business cards only if they attend this other function you really like that's happening later in the week.  Doesn't make much sense, does it?

So, back to LinkedIn.  Social media is  all about conversations that are happening all around us.  Just like an in-person conversation, you either have something to add or you don't.  On LinkedIn, the conversation is taking place in the 'answers' section.  You can read through questions on a particular topic and, if you can provide a relevant answer or contribute something, then you spend a few minutes taking part in that conversation.  If you have a question, post it and you will get plenty of answers.  The person who asked the question (you or someone else) chooses the best answer.  The more best answers that are credited to you, the greater your online credibility.  The greater your credibility, the more likely it is that people will want to do business with you.  That's it.  No requesting to connect or begging for introductions.  The winner's in social media are those that know how to be a resource to others without worrying about what's in it for them.

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What Makes Michael Phelps So Special

I was talking with some friends the day after the commentators were talking about Michael Phelps being "built to swim".  He's 6'4" with a 6'7" wingspan.  His legs are suitable for a man who's 6'0" making them extremely powerful for pushing off while his torso is that of a 6'8" man which reduces his drag.  His feet are a size 14 and function as flippers.  He's double jointed in his knees and elbows.  For all of his genetic gifts, his coach credits more than anything his determination and ability to focus.

Someone then asked what all of that has to do with anything.  Considering the source, I took my shot.  "He would make a lousy gymnast."  Then, I got to thinking about it after reading Erin's post on choosing the right professionals .  At 6'4", he'd probably make a pretty good basketball player.  The challenge would be his short legs giving him the up and down court speed of a 6' man.  He's only an inch shorter than Usain Bolt, the sprinter from Jamaica, but again, he'd still have to take 46 strides to cover the 100m vs. Usain's 41.  On the track he's only "6' tall". Back to the gymnast thing, Shawn Johnson would mop the floor with him.

So what makes Michael, Shawn, or Usain special.  It is determining what they do better than anything else and then focusing only on that.  That is what networking is all about.  You decide what you do better than anything else and then build a team around you to make up for the skills you lack.  The value you bring to client relationships is in being able to say "I can't do that but, I know someone who does."

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Customer Service: It's the Little Things.

I just got back from running an errand.  I went to Wal-Mart to get a battery for my $18 Wal-Mart watch.  Heck, it looks nice and keeps time.  I bet Sam Walton never spent that much on a watch.  What do I need with anything more expensive?  Anyway, the lady at Wal-Mart replaced the battery and tried and tried to get the back on my watch again.  She had a press with different size attachments to shield the face and back from damage.  Finally, she said, "I'm sorry.  I just can't get it back on.  You'll have to go next door to Windsor Clock & Watch.  They have better presses than we do."  I thanked her and paid for my battery and left.

Now, Windsor Clock & Watch sells expensive watches and all types of clocks that can run up into the thousands of dollars.  Even though I like my $18 watch just fine, I felt a little sheepish walking in there and presenting it to the man who greeted me.  Anyway, he took my watch back into the repair area and replaced the back and even reset the time and date which I had yet to do since I wasn't wearing it.  When he came back and handed it to me, I asked, "So, what do I owe you?"  He replied, "Nothing.  Just remember us if you ever need anything else." 

Now, I didn't really expect him to charge me but, we are in the middle of a major kitchen remodel.  Once we have everything done and see how all the colors work out, I'm thinking we're going to need two nice clocks to set things off.  We'll need one in the kitchen area and one in the wet bar area.  Where do you think I'll go to shop for those clocks?

In this brief, but thought-provoking post, Ginger Johnson asks, "What kind of service are you giving to your clients?"

How Could Any Mortgage Company Double Sales in 2007?

People questioned my sanity last summer when I chose to add mortgages - more specifically, the Home Ownership Accelerator - to the list of services available through Bridges Financial.  Seems like a particularly foolish time to be getting into the mortgage business.  Since then, whenever I mention mortgages to someone in conversation, they say something like "Boy!  You guys really have it rough right now.  Huh?".  I always try to explain that the Home Ownership Accelerator is a loan program designed for an entirely different type of borrower.  This is not another program for the borrowers who are costing taxpayers, investors, and people in the industry a lot of money and possibly even their jobs.  No, this loan is designed for responsible borrowers who have a fair amount of equity in their homes, good to great positive cash flow, and a demonstrated pattern of financial responsibility.  It's just a matter of time before this program becomes incredibly popular and I'm excited to be the first guy in Iowa talking about it.

Anyway, yesterday I came across this news story about how CMG Mortgage Bucks Mortgage Industry Collapse, Doubles Sales of New Home Ownership Accelerator^® Loan in 2007 .  The story has been featured on several U.S. and even a couple international news sites.  The story confirmed for me what I'd been thinking all along.  Any company that can double their sales and maintain strong underwriting profits (i.e. NO loans in default) is probably a pretty good partner for me to help my clients reach their financial destination.

You've already been networking.

  What do you think of when you think about networking?  There's groups like ours that get together formally weekly, bi-weekly, monthly, quarterly, etc. to share ideas, learn each other's business goals, and introduce people we care about to those we trust.  Then there's networking events sponsored by your local chamber or a local business looking for exposure.  These are great opportunities to meet new people and to nurture business relationships but, is that all there is to networking?

I've never been one to approach friends and family to tell them about my latest greatest idea.  Nothing wrong with that.  It's just always made me uncomfortable.  However, it seems to happen a lot lately that people I've known for 2, 3, or 5 years or maybe even since childhood ask me what I'm up to and when I tell them, their response is something like "I wish I'd know you were doing that." or "Gosh, I sure could've used your help last summer."  You get my drift.  It's okay and, in fact, important to let the people you know and care about know how you help people.  Just don't "fire hose" them like if you can't even get your friends and family to buy you're going to give up on the business altogether.

But, what about some other ways to network?  How about your morning "cup of joe"?  Do you go to the same place every day?  Now, here's the kicker: Do you walk in or go to the drive-thru?  If you said drive-thru, think about this.  What if you took an extra 10 minutes and went inside every morning, relaxed, and drank that mocha latte out of nice ceramic mug instead of spilling it in your lap when the car in front of you slams on their brakes?  Do you think maybe you might start some conversations with people who got used to seeing you day in and day out?  You'll never know if you keep driving through.

Now, on to this morning and what prompted this post.  A couple years back I decided to quit paying for haircuts.  As a few people pointed out, it was kinda expensive for "no more hair than I've got."  So I bought a pair of clippers and started doing it myself.  Let me rephrase that.  My girlfriend started cutting it for me under my watchful eye; however, she soon tired of me taking the clippers from her and touching up.  So, we started doing it the other way.  I'd go at it first.  A #2 guide over the ears...a #3 guide for the rest of the sides...and then a #5 guide on top to make it look like I've got more than I really do.  Then she comes in, inspects it, giggles sometimes and then starts hitting the places I missed altogether.   Anyway, my clippers conked out and I was faced with a decision: Buy new ones and keep going through that routine or start paying for haircuts again.  Well, I don't care how good a vacuum cleaner you've got.  Cleaning up after a haircut is no picnic.  At least that's what she told me. 

So, I went to this neighborhood barber shop that opened back in the 20s.  There's five stylists, a keg in the back room, and Sven and Ole' jokes flying all over the place.  I forgot how much fun that could be.  The girl that cut my hair pointed out a picture on the mirror of the business's first 4th generation customers.  Two little boys whose family had been coming there since Great-Grandpa started back in the 20s.  Anyway, as I was leaving, my stylist stopped me and asked for my business card to put on the bulletin board next to her station so, if she ran across anyone that should meet me, she'd have it handy.  So there you go, unsolicited, I got what most of us are trying to accomplish through traditional networking.  I think I'll go back only next time, I'll go in the afternoon since there's a keg in the back room.