The Stoler Report – Art & Science of Networking in the 21st Century

The Stoler Report – Art & Science of Networking in the 21st Century


♪ [THEME MUSIC] ♪>>NETWORKING. WHAT IS NETWORKING. I DON’T KNOW WHAT NETWORKING IS. BUSINESS NETWORKING. I’VE LEARNED ABOUT IT, PEOPLE SAY I’M A MASTER NETWORKER. INSTEAD OF ME TALKING ABOUT NETWORKING, I’VE ASSEMBLED THIS GROUP OF BUSINESS LEADERS TO PROVIDE THEIR INSIGHT AND THOUGHTS, THEIR EDUCATION TO HELP OTHERS IN THE ART OF BUSINESS NETWORKING. MY GUESTS INCLUDE STEPHEN WALD, THE PRINCIPAL OF STEPHEN WALD REAL ESTATE, INC. RICHARD LEHRER, FOUNDER OF CAMBRIDGE INSURANCE BROKERAGE. PAUL NEUMAN, CHAIRMAN, CEO OF NEUMAN’S KITCHEN. THE FORMER BOUNCER ON LONG ISLAND, THE ACTOR, LARRY WEISS, THE FOUNDER, PRESIDENT AND CEO OF ATLANTIC, TOMORROW’S OFFICE SOLUTIONS. WHO IS GOING TO TAKE THE DEFINITION OF WHAT BUSINESS NETWORKING IS?>>NETWORKING IS ABOUT PLACING YOURSELF IN A GROUP OF PEOPLE WHERE YOU CAN EXCHANGE IDEAS AND POSSIBLY LEADS. I THINK NETWORKING OFTEN GETS MISCONSTRUED AS THE EXCHANGE OF LEADS, IT’S THE EXCHANGE OF IDEAS THAT MAKES YOU BETTER OR YOUR COMPANY BETTER.>>YOU HAVE AN ACRONYM FOR NETWORKING.>>I CALL IT RTC. NETWORKING, WHETHER IN BUSINESS OR SOCIAL IS DEVELOPING A RELATIONSHIP, CREATING TRUST, AND COMMUNICATING BOTH THE RELATIONSHIP AND TRUST. WHETHER YOU ARE IN A GROUP, AN OFFICIAL NETWORKING GROUP, OR YOU ARE DOING INDIVIDUAL NETWORK WITH PEOPLE. I THINK THOSE THREE COMPONENTS ARE THE KEY FOR BEING A GOOD NETWORKER.>>I AGREE WITH EVERYTHING BOTH OF YOU HAVE SAID AND I THINK WHEN YOU LOOK AT NETWORKING, A LOT OF PEOPLE THINK HOW IS NETWORKING GOING TO HELP THEM. TO BE GOOD AT NETWORKING, YOU REALLY WANT TO START OUT WITH A MINDSET, HOW AM I GOING TO HELP THE PERSON I AM LOOKING TO NETWORK WITH. SIMILAR TO THE STORY WE WERE TALKING ABOUT, YOU HAVE GOT TO GIVE TO GET. AND SO I THINK WHEN YOU REALLY LOOK AT NETWORKING, PEOPLE NEED TO LOOK AT WHAT CAN I DO TO HELP THIS INDIVIDUAL ACHIEVE WHATEVER THEIR GOAL IS. AND NOT EXPECT ANYTHING BACK.>>DEFINITELY.>>WHAT RICK JUST SAID, NOT EXPECT ANY THING BACK. I FIND THAT TOO MANY PEOPLE WHO JOIN THESE NETWORKING CLUBS AND ORGANIZATIONS WANT THINGS IN RETURN BEFORE YOU CAN PROVE THEY DESERVE TO GIVE IT UP. YOU HAVE BEEN IN BUSINESS YOURSELF NOW FOR MORE THAN 30 YEARS. PAUL, YOU HAVE BEEN IN BUSINESS 38 YEARS. LARRY?>>ABOUT 42.>>HOW HAS YOUR BUSINESS –>>I’M NEW TO THIS GAME. [LAUGHTER]>>HE JUST PULLED UP A CHAIR. 33 YEARS FOR MR. WALD. HOW DO YOU BUILD UP AN INDEPENDENT BROKERAGE BUSINESS WITH THE BROWN HARRIS STEVENS, HOW DOES A STEPHEN WALD SURVIVE IN THIS WORLD?>>IT’S A DIFFICULT SITUATION BUT IT’S A COMBINATION OF USING SOCIAL MEDIA AND OLD-FASHIONED HANDSHAKING NETWORKING. WHERE THE MORE CARDS YOU GIVE OUT, THE MORE PEOPLE YOU SEE I TELL PEOPLE I NEED FACETIME AND I MEAN FACE TIME. NOT WITH THE YOUNGER GENERATIONS RESPOND TO. PERSONALLY I NEED THE COMBINATION OF BOTH. YOU NEED NOTORIETY AND YOU NEED TO MAKE THE CONNECTION.>>OVER THE LAST COUPLE OF MONTHS I WAS WITH A PARTNER AND A TAX MANAGER OF PRICE WATERHOUSE COOPER AND WE WERE AT A LUNCH BECAUSE I WAS INTERVIEWED FOR A RESEARCH PROJECT AND I LIKE THE YOUNGER GUY WHO IS IN HIS LATE 20’S OR EARLY 30’S AND I SAID TO HAVE YOUR BUSINESS CARD. HE SAID I DON’T CARRY A BUSINESS CARD. I SAID TO HIS SUPERIOR HOW CAN HE NOT CARRY A BUSINESS CARD? HE SAID HE DOESN’T. I SAID HOW WAS HE GOING TO BUILD A RELATIONSHIP TO TRANSITION IN THIS BUSINESS TO TAKE OVER WHEN YOU MOVE ON. YOU HAVE A SIMILAR SITUATION. YOU HAVE TWO SONS. HOW DO THEY — ARE THEY FOLLOWING IN THE LEAD OF THEIR FATHER WHO’S BEEN IN THE BUSINESS IN THE NETWORKING?>>MY OLDEST SON IS IN-HOUSE COUNSEL AND AS AN ATTORNEY HE WORKS WITH DOORS CLOSED. HE DOESN’T WANT ANYONE TO BOTHER HIM BECAUSE HE IS EXTREMELY BUSY AND HE IS A LOT MORE INTROVERTED. MY OTHER SON IS IN SALES AND FOLLOWS IN THE SAME NETWORK PHILOSOPHY. HE IS A NATURAL CONNECTOR. HE IS INVOLVED IN A COUPLE OF DIFFERENT NETWORKING GROUPS AND HE JUST PUTS PEOPLE TOGETHER.>>30 YEARS AGO, 10 YEARS AGO WE DIDN’T HAVE FACEBOOK, WE DIDN’T HAVE INSTAGRAM, WE DIDN’T HAVE LINKEDIN, WE WERE IN A DIFFERENT WORLD. HOW IS THE CHANGE OF SOCIAL MEDIA HAD AN EFFECT ON YOUR NETWORK AND YOUR BUSINESS DEVELOPMENT?>>I FIND THE COMBINATION IS USEFUL OF BOTH BECAUSE SOCIAL MEDIA HAS GOTTEN TOO BIG. IN MY INDUSTRY, THERE ARE OVER FIFTEEN THOUSAND REAL ESTATE AGENTS IN MANHATTAN. IF EVERYONE’S GETTING SOCIAL MEDIA DAY IN AND DAY OUT, YOU HAVE TO GO THE EXTRA MILE OF STEPPING BACK AND MAKING THE PERSONAL CONNECTION. I THINK IT IS CRITICAL. IF NOT YOU ARE LOST IN A SEA OF MADNESS.>>PEOPLE ARE STILL BUYING FROM PEOPLE. SOCIAL MEDIA SERVES A PURPOSE TO CREATE AN IMPRESSION ABOUT WHO WE ARE AND OUR COMPANY IS AND HOW WE WORK. ULTIMATELY WHEN I’M IN A ROOM TALKING TO SOMEONE ABOUT THE CATERING THEY NEED, THE MOST IMPORTANT THING I CAN DO IS LET THEM KNOW HOW MUCH WE CARE AND HOW INTERESTED WE ARE IN RESPONDING TO THEIR NEEDS. THERE IS NOTHING I CAN DO ON SOCIAL MEDIA. I CAN PUT UP ALL THE VIDEOS IN THE WORLD, ALL THE TESTIMONIALS. AT SOME POINT THERE’S A FACE-TO-FACE AND EYE CONTACT AND A HANDSHAKE THAT IS CRITICAL. I’VE TO LEARN FROM THEM AND THEY HAVE TO LEARN FROM ME. IT IS NOT A SINGLE TRANSITION WHERE A SWITCH IS FLIPPED FROM PURELY PERSONAL CONNECTION TO PURELY SOCIAL MEDIA. IT’S A CONTINUUM AND THEY BETTER LEARN WHAT IT IS TO MAKE A PERSONAL CONNECTION AND I HAVE TO LEARN FROM THEM WHAT IT MEANS TO HAVE A SOCIAL MEDIA PRESENCE.>>HOW MANY SALES PERSONALE DO YOU HAVE? >>I HAVE ABOUT 75.>>HOW DO YOU TRAIN THEM, HOW DO YOU TEACH THEM TO BECOME MASTER NETWORKERS OR MASTER BUSINESS CONNECTORS.>>MOST COMPANIES IN THE TECHNOLOGY FIELD, THEY WORK WITHIN A RESTRICTED TERRITORY. SO SALES REPS GET A TERRITORY AND THAT’S WHERE THEY ARE ALLOWED TO SELL. WHEN I STARTED WITH XEROX IN 1973, IT MADE NO SENSE TO ME THAT THIS WAS MY AREA AND I COULD NOT SELL TO ANYBODY I KNEW OUTSIDE THE AREA. I CHANGED PHILOSOPHY OF THE COMPANY WHEN I STARTED THIS COMPANY IN 1982, I LET PEOPLE START NETWORKING. YOU CAN SELL TO ANYBODY WITHIN A GEOGRAPHY. TODAY, TUTORIALS ON LINKEDIN, WE TEACH OUR PEOPLE KNOW TO USE LINKEDIN BECAUSE OF IF YOU’RE COLD CALLING, YOU NEED TO USE A HIGHER FORM OF INTELLIGENCE. YOU HAVE TO LOOK AT TARGET ACCOUNTS YOU WANT.>>1982 WHEN YOU WERE WORKING FOR XEROX, YOU ARE ABLE TO WALK INTO A BUILDING IN MANHATTAN. GO TO ANY FLOOR AND SAY I’M LARRY WEISS, I’M SELLING COPY MACHINES. TODAY, SECURITY IS GOING TO STOP YOU.>>I THINK NETWORKING IS PART OF THE SALES PROCESS, SO THERE DIFFERENT TYPES OF NETWORKS. YOU GO TO AN EXECUTIVE NETWORKING GROUP. THAT IS ONE FORM. IN MY BUSINESS, WHICH IS INSURANCE AND PROTECTING PEOPLE’S LIVES, IT IS A ONE ON ONE PROPOSITION. WHAT YOU GUYS SAID BEFORE, YOU HAVE TO ASK THAT CLIENT TO BUILD A RELATIONSHIP, WHAT THEIR NEED IS AND THEIR PERCEPTION. WE HAVE ABOUT 2500 INDIVIDUAL CLIENTS, WE HAVE DONE NO MARKETING, ADVERTISING OR ANYTHING LIKE THAT. I DO USE LINKEDIN IF I’M SEEING A POTENTIAL CLIENT TO SEE IF THERE IS ANY COMMON CONNECTION. SOMEONE THAT COULD SAY I KNOW HIS COMPANY, THEY HAVE DONE THIS OR THAT. THERE ARE SO MANY DIFFERENT FORMS OF NETWORKING. YOU GO TO A CONVENTION, PEOPLE GIVE OUT CARDS. YOU GO TO AN INDUSTRY EVENT, YOU GO TO A REAL ESTATE EVENT. THAT’S A DIFFERENT FORM OF NETWORKING. I AGREE WITH YOU GUYS THAT FOR MY BUSINESS, ONE ON ONE LOOKING SOMEONE IN THE EYE, UNDERSTANDING WHAT THEIR PROBLEM IS AND THEN BUILDING THAT TRUST.>>AS I WAS SAYING PRIOR TO THE SHOW, MY PROBLEM WITH SOME OF THE NETWORKING CLUBS MY FRIENDS HAS BEEN INVOLVED WITH IS PART OF IT IS YOU TRYING TO GET TRUST AND YOU WANT TO HELP OR CERTAIN CLUBS VERY SPECIFICALLY SAY YOU HAVE TO GIVE LARRY OR STEVE OR RICK, FIVE NAMES AND I DON’T KNOW FIVE PEOPLE WHO NEED LIFE INSURANCE. WHEN I’M SENDING OUT A PERSON, I’M SAYING I HAVE CONFIDENCE THAT I HAVE RESPECT FOR THAT. WHEN YOU BELONG TO CERTAIN NETWORKING ORGANIZATIONS, YOU DON’T KNOW ABOUT THAT.>>YOU HAVE TO QUALIFY ANYONE YOU ARE REFERRING TO. LARRY AND I SIT ON MEMBERSHIP FOR EXECS. THE MANTRA WITHIN THE MEMBERSHIP COMMITTEE IS GOOD COMPANY, GOOD INDIVIDUAL. WHAT WE SAY IS YOU ARE NOT GOING TO GET ANYTHING UNTIL WE KNOW YOU. NO ONE WILL REFER TO YOU UNTIL WE HAVE CONFIDENCE IN YOU. YOU HAVE TO BUILD OUR TRUST. WE WANT TO GIVE TO YOU BUT WE ARE NOT AUTOMATICALLY GOING TO GIVE YOU A TRY IF WE FEEL AT RISK.>>PEOPLE DON’T REALIZE THAT THERE’S NO IMMEDIATE GRATIFICATION COMING OUT OF THIS. FROM THE LIMITED EXPERIENCE I’VE HAD IN PROFESSIONAL NETWORKING, WHICH IS THE EDUCATIONAL AND THE MENTORING, IT TAKES TIME TO BUILD YOUR RELATIONSHIPS AND FOR OTHERS, THE SECOND SIDE OF IT IS NETWORKING IT’S ALMOST LIKE A TRAIT. YOU HAVE IT AND IF YOU ARE GOOD AT IT, YOU KNOW WHO TO PUT TOGETHER WITH WHOM FROM THE DATABANK. YOU ARE NOT LOOKING TO GET ANYTHING OUT OF IT.>>AS RICK SAID BEFORE, WITH DIFFERENT TYPES OF GROUPS THE PROFESSIONAL NETWORKING GROUPS LIKE THE EXECUTIVE ASSOCIATION. I WAS SAYING WITH RICK PRIOR TO THE SHOW THERE’S THE YPO. IT IS AN ORGANIZATION OF CERTAIN PEOPLE OF A CERTAIN AGE WHO BUILT A CERTAIN AMOUNT OF BUSINESS. TIGER 21 IS ANOTHER. DIFFERENT CATEGORIES, BUT THOSE ARE A LITTLE MORE EXCLUSIVE. YOU GO DOWN TO THE LOWER LEVEL OF THESE WHO HAVE A VARIETY WHO HAS 350 DIFFERENT NETWORKS AND EVERYBODY IS OUT THERE SELLING LIFE INSURANCE OR TRYING TO BE A STOCK BROKER OR SOMETHING ELSE.>>AT 6:30 IN THE MORNING.>>LET’S TALK ABOUT THE CIRCUMSTANCE WHEN YOU NEEDED OFFICE SPACE.>>WHEN I WAS LOOKING FOR COMMERCIAL SPACE IN LONG ISLAND CITY I WENT TO THE MOST FAMILIAR PERSON INSTEAD OF NECESSARILY THE BEST PERSON. AFTER SIX MONTHS OR A YEAR OF LOOKING AT SPACES THAT WERE NOT SUITABLE AND ONE OF THE ISSUES WAS I GAVE THE MARCHING ORDERS I WANTED TO STAY IN MANHATTAN. I REACHED OUT MY GURU AND SAID MICHAEL, HELP ME. HE PUT ME IN TOUCH WITH FRANK AND WITHIN SIX MONTHS, I WAS LOOKING AT THE INDUSTRIAL SPACES THAT I NEEDED.>>I HAD NO FINANCIAL INCENTIVE, IT WAS THE RELATIONSHIP OF HELPING A FRIEND.>>IF WE MAY PICK UP ON THAT. WE WENT BACK, YOU HAVE TO GIVE TO GET. IF YOU GO INTO THIS, IF YOU ARE LOOKING FOR — IF YOU GO INTO NETWORKING AS YOU ARE LOOKING FOR A FINANCIAL INCENTIVE, YOU ARE NOT — YOU ARE A SALESMAN. OR YOU ARE JUST GREEDY. YOU ARE NOT IN IT TO HELP SOMEONE ELSE. AND IT WILL CLEARLY SHOW. NONE OF US ARE LOOKING FOR ANYTHING. WHEN I MEET WITH DIFFERENT PEOPLE, THEY SAY DO YOU WANT TO COMMISSION FOR THIS. I SAID IF YOU HAVE ANYBODY WHO’S INTERESTED IN WHAT WE SELL, WE WOULD LOVE TO HAVE AN OPPORTUNITY TO MEET WITH THEM. I DON’T EVER WANT TO DOLLAR FOR ANY CONNECTIONS I MAKE OR ANY BUSINESS I GIVE.>>THE YOUNGER MANAGEMENT PEOPLE TODAY HAVE NEVER REALLY BEEN TAUGHT, IN MY OPINION, HOW –>>ARE ANY OF US TAUGHT HOW TO NETWORK? LET’S UNDERSTAND.>>YOU HAVE BEEN A MENTOR, YEARS AND YEARS AGO YOU GAVE ME A BOOK THAT HELPED ME WHICH YOU PROBABLY READ CALLED THE GO GIVER. I THINK WE HAVE ALL HAD MENTORS. DID WE TAKE A COURSE IN NETWORKING? NO. THERE WAS AN ACCOUNTING FIRM WE HAVE AS A CLIENT AND ONE OF THE SENIOR PARTNER SAID NOT ENOUGH OF THE GUYS ARE BRINGING IN BUSINESS. RICK, COULD YOU HELP THEM. I HAD A MEETING WITH FOUR OR FIVE OF THESE YOUNGER PARTNERS, FULL PARTNERS AND I SAID TELL ME WHAT HAPPENS WHEN YOU’RE AT A BARBECUE WITH THE PEOPLE IN YOUR NEIGHBORHOOD, YOU HAVE TWO KIDS AND SOMEONE COMES UP AND SAYS WHAT DO YOU DO, JOHN? JOHN SAYS I’M AN ACCOUNTANT. END OF STORY. HE DOESN’T SAY HE HELPS PEOPLE DEVELOP THEIR BUSINESS, SAVE ON TAXES. HE DOES NOT UNDERSTAND HOW TO NETWORK. YOU HAVE TO ASK THE RIGHT QUESTIONS OF THE OTHER PEOPLE, YOU HAVE TO MAKE SOME STORY THAT IS LEGITIMATE TO BUILD THAT TRUST AND THESE KIDS DON’T KNOW IT.>>YOU HAVE TO GET TO THE EMOTIONAL REASON WHY PEOPLE BUY FROM YOU.>>SOMEBODY IS GOING TO SAY TO ME WHAT DOES LARRY DO? WHAT IS ATLANTIC TOMORROW’S OFFICE SOLUTION? WHAT HAS CHANGED OVER THE YEARS? WHAT ARE YOU SELLING TODAY?>>WE ARE SELLING EFFICIENCIES AND PEACE OF MIND. FROM AN I.T. PERSPECTIVE, WHAT IS THE RELEVANT CONVERSATION ABOUT CYBERSECURITY, ABOUT HACKING. WE SELL PEACE OF MIND THAT WE CAN COME IN AND MANAGE CLIENTS NETWORKS AND THEY HAVE THE COMFORT OF KNOWING THEY HAVE ALL THE TECHNOLOGY BEHIND US TRYING TO PREVENT, YOU CANNOT 100% PREVENT SOMETHING FROM HAPPENING. BUT THEY KNOW –>>WHO IS THE BEST NETWORK OR SALESPERSON IN YOUR COMPANY?>>WE AS A COMPANY HANDLE A PRETTY SUBSTANTIAL AMOUNT OF EDUCATION BUSINESSES K-12 IN NEW JERSEY. ONE PERSON, HE HANDLES QUITE A FEW SCHOOL DISTRICTS. IT IS ALL BASED ON RELATIONSHIPS. HE KNOWS THE BUSINESS OFFICIALS AND THESE INDIVIDUALS GO FROM ONE SCHOOL DISTRICT TO ANOTHER AND THEY MEET AT THE CONVENTIONS. HE ALWAYS DOES THE RIGHT THING. HE HELPS THEM WITH MEETING THEIR BUDGET NEEDS AND THEN WE HAVE ANOTHER TOP PERSON, SHE IS A SUPERUSER ON LINKEDIN. SHE IS AN UNBELIEVABLE NETWORKER. NOW COUPLE THAT WITH HER ABILITY TO BE A SUPERUSER ON LINKEDIN, SHE’S OPENING UP MORE NEW BUSINESS THAN ANYONE PLAYING JUST THE NUMBERS GAME.>>HOW DID YOUR PARTNER/ASSOCIATE BUILD THE BUSINESS?>>HE BUILT THE BUSINESS, OR PART OF THE BUSINESS IN THE GROUP EMPLOYEE BENEFIT AREA WHICH IS A VERY SENSITIVE TOPIC FOR ANYONE WITH EMPLOYEES. HE BUILT IT ON BECOMING ONE OF THE MOST KNOWLEDGEABLE AND EDUCATIONAL ACADEMICS ON HEALTH CARE. SO HE NETWORKS BY EDUCATING AND DEVELOPING TRUST. NOT BY SELLING. HE IS INCREDIBLE WITH IT. AFTER HE TALKS TO PEOPLE, THEY KNOW HE IS AN EXPERT AND HE WILL FIND THE BEST SOLUTION, SIMILAR TO WHAT YOU WERE SAYING.>>LET’S TALK ABOUT YOU AND THE TRUST AND ESTATES WORLD.>>YOU BECOME GOOD AT WHAT YOU DO AND YOU ARE A RESOURCE. WHEN YOU REFER, YOU’RE REFERRING SOMEONE ELSE WAS A GREAT RESOURCE. PEOPLE KNOW YOU CAN TAKE THE WORST PROPERTY UNDER THE WORST CIRCUMSTANCE AND TURN IT INTO A SALABLE ASSET FOR SOMEONE AND GET SOMETHING DONE IN A TIMELY MANNER. WHEN YOU ARE GOOD AT IT, IT COMES AGAIN. THAT’S THE DIFFERENCE GETTING THROUGH THE SOCIAL MEDIA PART AND THEN PROVING YOUR SKILL AND BEING THE NOTED EXPERT IN A FIELD.>>WE SELL FOOD AND SERVICE, BUT THE REALITY IS WE ARE HELPING OUR CLIENTS TELL A STORY AND COMMUNICATE A MESSAGE. AT A GALA, A LUNCH FOR EMPLOYEES. THE COMPANY IS SAYING WE CARE ABOUT YOU AND WANT YOU TO BE WELL FED. IN TODAY’S MARKETS, ONE OF THE SHIFTS THAT HAPPENS IS THE TECH COMPANIES RECOGNIZE THERE IS A WAR FOR TALENT. THEY ARE IN A WAR TO RECRUIT AND RETAIN THE BEST TALENT. ONE OF THE TOOLS THEY ARE ALL USING IS FOOD NOW. YOU GO TO GOOGLE AND IT IS LIKE RESTAURANT ROW. YOU GO TO FACEBOOK, THEY ARE FEEDING PEOPLE. BLOOMBERG HAS BEEN DOING THIS FOR 20 OR 25 YEARS. COMPANIES TODAY, EVEN THE NON- PURE TECH COMPANIES ARE SAYING IF WE’RE GOING TO RECRUIT AND RETAIN THE BEST TALENT, WE BETTER HAVE GREAT FOOD. THAT IS WHERE THEY COME TO US AND SAY WE HAVE BEEN WITH A LARGE NATIONAL CHAIN, A LARGE NATIONAL PROVIDER, THEY DON’T CARE ABOUT US ENOUGH. WE WILL COME IN AND SAY HERE IS WHAT WE ARE GREAT AT, HERE ARE THE CHALLENGES WE WILL FACE. WE TRY TO PUT THOSE OUT ON THE TABLE EARLY SO THEY KNOW WE ARE HONESTLY ASSESSING WHAT THE OPPORTUNITY IS.>>THAT IS THE DIFFERENCE.>>EVEN THOUGH THERE ARE 75 SALESPEOPLE AT ATLANTIC, THEY KNOW YOU ARE BEHIND IT. THEY KNOW THEY CAN GO TO YOU. EACH ONE OF YOU HAS SALESPEOPLE, THEY HAVE A TEAM, YOU HAVE CHEFS, YOU HAVE SOUS CHEFS, YOU HAVE OTHER PEOPLE, YOU HAVE TECHNICAL PEOPLE. THE BUCK STOPS HERE. THAT IS THE TRUST.>>I THINK THE CULTURE OF ALL OF OUR COMPANIES ARE VERY SIMILAR. THE SALESPEOPLE MAKE SURE THAT MESSAGE IS CLEAR. I THINK THE CLIENT FEELS IT.>>WHAT TYPE OF MEETINGS DO YOU THINK ARE EFFECTIVE FOR NETWORKING? IS IT A CUP OF COFFEE WITH SOMEONE? IS IT A LUNCH? IS IT A DINNER?>>YOU BUILD TRUST WITH THE INDIVIDUAL OR INDIVIDUALS MAKING THE DECISION AND THEN YOU MAKE THEM LOOK GOOD IN THE EYES OF THEIR PEERS AND SUPERIORS AND THE PEOPLE WHO THEY ARE SERVING. THERE IS NO SINGLE MEAL. DEPENDING ON THE INDIVIDUAL AND THE OPPORTUNITY, I WILL MEET WITH ANYONE AT ANY TIME IF IT IS THE RIGHT SETTING. THERE — A COCKTAIL PARTY IS A GREAT WAY TO MEET A LOT OF PEOPLE. A LUNCH OR DINNER IS –>>QUALITY OVER QUANTITY.>>YOU NEED BOTH. ANY PARTY WE CATER IS A MARKETING EVENT. I’M NOT IN THERE AS A GUEST CHATTING UP THEIR GUESTS, THAT’S A LINE I DON’T STEP OVER. I THINK SOME PEOPLE DO. FOR MY PURPOSES, MY BEST OPPORTUNITY COMES FROM ME DOING ANYTHING FOR ANYONE AND THEM APPRECIATING A LEVEL OF QUALITY WE PROVIDE.>>IT SOUNDS LIKE YOU HAVE A STANDARD AND THE FIRM MAINTAINS.>>OUR STANDARD IS THAT IT’S NEVER GOOD ENOUGH. WHATEVER WE DID YESTERDAY, EVEN IF THE CLIENT SAYS IT WAS INCREDIBLE IS JUST THE BEGINNING OF GETTING IT RIGHT. IT CREATES A LOT OF TENSION IN THE COMPANY, BUT THERE IS THIS NEED TO CONTINUALLY GET BETTER.>>I THINK THE BOTTOM LINE IS WE HAVE DIFFERENT BUSINESSES, WE ARE NOT VALUE ADDED AND IN A REALLY STRONG WAY, WE’RE DISPOSABLE. AND THE FACT THAT WE EACH HAVE OUR NAME ON THE DOOR AFTER THIS MANY YEARS IS ONE OF THE FIRST THINGS I TELL PEOPLE IS MY NAME IS STILL ON THE DOOR, I’VE STILL BEEN DOING THIS AFTER 33 YEARS. HOPEFULLY I’M GOOD AT WHAT I’M DOING.>>TO ANSWER THE QUESTION MAYBE DIFFERENTLY IS NETWORKING WITHIN OUR CLIENTS, WE SPEND QUITE A FEW DOLLARS ON TICKETS, SPORTING EVENTS, CONCERTS.>>NO LONGER TAX DEDUCTIBLE UNDER THE LAW.>>FOOD IS. WE WILL HAVE AN EVENT AND WE WILL PUT CLIENTS IN THE SUITE THAT WE KNOW CAN HELP EACH OTHER. THAT’S HOW WE DO A LOT OF INTERNAL NETWORKING.>>WHAT YOU’RE TRYING TO DO IS HELP EACH OTHER SO PEOPLE ARE GETTING CONFIDENCE AND YOU’RE LOOKING OUT FOR EACH OTHER.>>WE CAN ADD VALUE TO THE PRODUCTS AND SERVICES WE SELL EVERY DAY. ANY GOOD COMPANY DOES THAT. WE WANT TO TAKE VALUE ADDED TO ANOTHER LEVEL. WE WILL INTRODUCE CLIENTS WITH OTHER CLIENTS THAT CAN DO BUSINESS TOGETHER. THAT’S A VALUE ADD MOST PEOPLE DON’T DO AND WE HAVE THE MEANS AND THE INVESTMENT TO PUT PEOPLE IN AN ENVIRONMENT WHERE THIS CAN HAPPEN.>>HOW DO WE GET THAT MESSAGE ACROSS TO THE MILLENIALS WHO ARE NOW AT YOUR COMPANY? TO FOLLOW THIS PRACTICE.>>I THING IT IS A LEARNING PROCESS. I DON’T THINK YOU CAN GIVE THEM A MESSAGE OR HAVE THEM READ A BOOK. I THINK THEY NEED TO HAVE A MENTOR, A BOSS THAT TEACHES THEM THAT BECAUSE THEY ARE SO INVOLVED WITH SOCIAL MEDIA TODAY AND NOT LEARNING HOW TO COMMUNICATE BECAUSE OF CELL PHONES AND EVERYTHING ELSE.>>I THINK RICK BROUGHT UP THE BOOK I’VE GIVEN OUT TO PROBABLY A HUNDRED PEOPLE CALLED THE GO GIVER. THE COMMENTS THE GO GIVER BASICALLY SAYS WHEN THE YOUNG GUY ASKS HIM WHAT IS THE SECRET TO YOUR SUCCESS? HE SAYS BY GIVING. WHAT DO YOU MEAN BY GIVING? HELPING PEOPLE. IF YOU HELP PEOPLE AND YOU GIVE YOURSELF FROM YOUR HEART, YOU WILL WIN.>>I THINK THERE IS NO ONE BETTER THAN MICHAEL STOLER AT GIVING TO OTHER PEOPLE AND NOT ASKING FOR ANYTHING IN RETURN.>>I WOULD LIKE TO THANK ALL OF MY FRIENDS. MR. WALD, 33 YEARS, MR. LEHRER, ABOUT 33 YEARS, MR. NEUMAN, 38, AND LAST BUT NOT LEAST, MR. WEISS, 42. AND I’LL SEE YOU NEXT WEEK. THANKS FOR BEING HERE. ♪ [THEME MUSIC] ♪

2 thoughts on “The Stoler Report – Art & Science of Networking in the 21st Century

Leave a Reply

Your email address will not be published. Required fields are marked *