Alexandra RiceExecutive DirectorSpecialist Commercial Banking

The Networking World We Live In

Networking: you keep using that word.I do not think it means what you think it meansDefinition:“To network is to share points of interest between 2 or more people”(A Rice, 2012)

Why does that matter?• It doesn’t …• … as long as you don’t need to interact with

anyone else in order to be successful

Why I am here?“I’m not into networking. I can’t do it. I’m lousy at small talk and I don’t know anything about football”

(A Rice, 2000)

Charting the course of a reluctant networker

So what changed in those 12 years? [Now pay attention, there will be a test later on]

What influences have shaped my opinions on networking?University: History degree, discovered rowing1st Company: Management consultant following an ad in The Times2nd Company: Hired by the client, sponsored to do an MBA3rd Company: Hired off MBA course, head hunted into Barclays Corporate4th Company: Friend recommended me to a head hunter for a job at Coutts

This conference: Was asked by a client if I’d speak at this event - so here I am

LUCKY BREAK

LUCKY BREAK

LUCKY BREAK

LUCKY BREAK

LUCKY BREAK

Reflecting on all those Lucky Breaks

Lucky breaks? Or an awful lot of networking?

The latter, subconsciously

Reflecting on all those Lucky Breaks

Observations on NetworkingEveryone

networks all the time. Some of us are aware of it, some of us less

so

Networking is like any other skill: the more you practise it, the better you get

Ice-breaking is a necessary part of networking. Use

it to create a “hook”

Pause for breath! Networking

efficacy increases the

more you listen

• All friends were strangers once

• Activity driven by prospect of reciprocal gain

• There is no one correct networking style, it adapts to suit the situation and people within it

• Talking about football or any other sporting activity is “small talk” or icebreaking

• The clue is in the name

• Listen for at least 50% of the time and modify your approach to suit the situation

Work out why you want to do it, what you have to offer, and what your game plan is

Networking 101

Stay focussed Know your USP

Find common interest

Select the right channel

Maintain your new

knowledge

Be memorable … in a good

way

PURPOSE REWARD INQUIRYFORMAT ORGANISATIONIMPRESSION

• You’re a chocolate bar, what does your wrapper say?

•What you can do?

•Who you work for?

•What/who you know?

• Career opportunities

• Learning opportunities

• Business development ideas and sales leads

• Opportunities for collaboration

• Or just collecting interesting people

• Before you engage, know how you want to be remembered

• First impression non verbal basics: appearance, body language / bearing

• Verbal cues: vocabulary, accent, grammar

• Find a common interest to build rapport

• Active inquiry, but not an inquisition

• Share something, at the appropriate level

• Listen, actively

• Formal or informal?

• Verbal or written?

• Occasion or BAU?

• Planned or chance?

• Always be professional

• Deliver on commitments. Better to under-promise and over-deliver than vice versa

• Courteous response times to emails / calls

• Manage your contacts file

• A poor memory could become your weakest link. Have a Plan B

How building rapport can drive the required behaviours

How building rapport can drive the required behaviours

Active Listening Test(or why you don’t need to know anything about football)

Family: Married, husband also likes Princess Bride, children not known 1 point

Education:

History graduate, university not given. MBA, school not given 2 points

Job:Was a management consultant before becoming a banker. Was at Barclays now at Coutts

2 points

Likes:A film called the Princess Bride, L K Bennett Shoes, rower – not clear if past or present, used to read The Times?

4 points

Dislikes: Was clueless about football, may still be 1 point

Score yourself out of 10• 8 – 10: Active listening genius: consider a career change into Sales or

MI5/6• 5 – 7: Good listening skills: how good are you at asking questions?• 2 – 4: Room for improvement: practice improves your information

retention rate• < 2: I bored you into a sleep state, otherwise consider working on your

listening skills

*

* I cheated: consider why the “old school tie” mattered. Common interests can be seen as well as heard

Networking by layers:A view from SalesLayer Network

TypeCharacteristics Channels / Format

1 Friends and family

High levels of intimacy / sharing

Focus on getting up to date with information

Objective is to maintain or deepen existing relationships

Face 2 Face, Phone (SMS / Call), Social Media, Email, Card / Letter

2 Work colleagues

Limited intimacy / sharing – will deepen over time as trust builds

Focus on understanding how each person can help achieve their objectives.

Objective is to seek out common interest and ground, create opportunities and then delivering reciprocal help. Extent will depends on how hierarchical / flat culture is

Face 2 Face and / or formal meetings, Phone (SMS / Call), Formal and Informal Emails

3 Existing clients

Intimacy / sharing sufficient to create a bond, may deepen as trust builds

Focus on proactively seeking solutions and / or managing expectations based on a knowledge of the clients’ business and the banking service offer available to them.

Objective is to be seen as a trusted advisor / valued and valuable client

Formal meetings, Phone Call, Formal Emails, Events

4

External contacts and

prospect clients

Very low levels of intimacy / sharing

Focus on creating a platform upon which you can engage in a professional discussion

Objective is to achieve a common understanding of what each other values

Formal meetings, Phone Call, Formal Emails, Events

Tackle the assumptionsto move forward

Assumption True or False

Response

There are more men in senior positions than women, therefore junior men have an advantage to

networking within an organisation because of more common interests

False

By listening for cues you can find areas of common interest. Once you have those, add a fair measure of confidence

and an appropriate opportunity, and you have all you need to start a conversation

Men have more pastimes in common so they are more likely to get more “casual time” together: eg.

Golf days, sporting events, beer nights etc etcN/A

Golf is not a male only sport. If you hate Golf, try Clay Pigeon Shooting!

Some women lack the confidence to network. “Women’s networks” help bridge that gap True - ish

A women's network is a good place to practise networking skills and meet peers across industry sectors. But don't

forget that being different is memorable, you can use it to your advantage

Social Media is everywhere. Knowing how to manage your online profile is an essential part of

modern networkingTrue Yes – I’m guessing I don’t need to talk about that as it’s so

2010

Sometimes the best networkers make for lousy networking coaches. Sometimes SME’s don’t know what they know as its become a behaviour rather

than a thought

TrueI’m an excellent example, and you take that whichever way

you think is best!

Getting it right

So what happens next?

Go forth from this place and network like your career depended on it

I’m pretty sure you won’t be disappointed

Good Luck!

Alexandra RiceExecutive Director Specialist Commercial Banking

•Please feel free to contact me via Linked In

•Coutts Commercial provides the full range of banking products and services to companies from all sectors where the owners, investors and / or management team are either existing Coutts private clients, or who meet our Private Banking and Wealth Management criteria

•Coutts Commercial benefits from sector specialist bankers in the following areas: Hotels, Healthcare, Insurance, Media, Professional Practices and Real Estate www.coutts.com/commercial