Expand networking into net-sharing.

• Author: Hubbard, Jack
• Position: American Bankers Association,

There's more to networking at events than just 'working the room.' By following a few basic principles, you can add value to your conversations with bank clients and prospects.

ONE KEY RESPONSIBILITY OF BANKERS is to become involved in community activities such as business after hours events sponsored by the local chamber of commerce.

Like most components of the sales conversation process, networking has made a significant transition as well. Those who are successful at this important skill see it as net-sharing. Why? First, because if it's work, it isn't worth it; and, second, the key to success is making it worthwhile and meaningful for both parties. Networking is mostly working for one's own benefit. Net-sharing is working to benefit both parties; It's a win-win.

Self-improvement trainer Dale Carnegie got it right when he said, "You can close more business in two months by becoming interested in other people than you can in two years by trying to get people interested in you." What he was suggesting is the law of reciprocity: The more you want in life, the more you need to give away. Here are some ideas to make your net-sharing worth your time.

Pre-select: invest your time wisely

I am chief sales officer at a sales training and coaching company. When my daughter Erin became sales manager of a boutique hotel in Chicago a number of years ago, she learned one of her key duties was to attend business meetings. "Which ones should I attend, dad," she asked. "The right ones," I advised.

There are an infinite number of events she could be present at, every one of them providing an opportunity for her to meet some new best friends. But while the gatherings are infinite in nature, her time (and yours) isn't.

At first blush, the easy answer is: Go to Chicago Chamber of Commerce events. Sounds fine on the surface, but I've seen surveys recently that indicate only about 25 percent of businesses in any community belong to the Chamber, but 100 percent of bankers do. Should you avoid Chamber of Commerce meetings, golf outings, business after hours? Of course not. But net-sharing nirvana likely won't occur there. More times than not, your meeting time involves playing defensive, keeping your competitors away from your best clients.

I recently made a joint coaching call with a banker and toward the end of the conversation, I asked the business owner: "How do you stay current with best practices in your industry?" "Easy," he replied. "I never miss a local or state meeting of the XYZ Association." Interestingly, the banker was eager to penetrate this industry. "How many bankers do you see at those meetings," I asked the business owner. "I've never seen one," he concluded.

That was all the information the banker needed. She now attends every...