The Start-Up of You by Reid Hoffman and Ben Casnocha [Book Review]

The Start-Up of You by Reid Hoffman of LinkedIn

Reid Hoffman is the co-founder and chairman of my favourite social network LinkedIn. He was kind enough to send me the new book “The Start-Up of You” he has written together with Ben Casnocha, which I have just finished reading.

What’s the Start-Up of You all about?

It’s about the power of networking and how relationships matter (yes, that was LinkedIn’s first tagline). It’s a quick read that draws on Reid Hoffman’s own business experience and that of his, uhm… network. The author was part of the team that sold PayPal to eBay and made a fair bit of dough. Instead of retiring, he realised there was a gap in the market for a networking tool and he used his strong connections from the PayPal circle to set up LinkedIn in a jiffy. That was back in 2003, things have progressed well since then and last year they had a successful IPO and the company is firing on all cylinders.

The book covers how Silicon Valley operates and how you get investment for your tech company (you have to know someone that knows someone). Reid Hoffman would never invest in a company that wasn’t introduced to him by a trusted contact. In fact, Sean Parker introduced him to Mark Zuckerberg in 2004 but Reid decided not to invest as much as he could have back then. Instead he invested along with a friend he trusted well, this friend is of course rather happy to have got that introduction today.

We also get to read about how taking intelligent risks is part of succesful business practice. The author mentions that he took a risk when starting up LinkedIn but always had a fall-back option, in this case it was sleeping on his dad’s couch. Michael Dell took a risk when starting Dell Computers but he managed the risk with making sure he could return to his university if things went sour.

I can relate to this, when I moved over to London (with no job secured) from Stockholm where I was leading a cushty life (pretty good job) it was a calculated risk. I had negotiated a year of absence with my employer so that was my back up plan, I like the others never needed the option but it does put your mind at ease. Here’s a nice soundbyte for you from the book: “You have to take on risk or risk will take on you”.

Is this a long sales-pitch for LinkedIn?

What are you saying? That the cover reminds you of a certain professional network? Whilst Linkedin is definitely mentioned throughout the book, it’s more about how networking works and how you can apply it. The reader is left to draw their own conclusion about what technology to use to manage their professional network. And Reid does mention Facebook, Twitter and other networks which you could argue are the main competitors. So no, it’s not a long sales pitch, rather it’s a book that gives you the perspective on your own network and how it can be utilised.

Any reservations?

My one reservation about this book is that it very much revolves around Silicon Valley and its ubercool tech start-up companies. Had it been written ten years ago, it could have been set on Wall Street and about how the boys from Goldman Sachs were best mates with the Morgan Stanley lot. I’m not saying tech companies are heading for the same fate as banking but I have a feeling this will make the book date in a few years. It’s certainly captured the zeitgeist of tech start-ups in the Valley, for better or worse.

Also, the real-life people that are mentioned in the book are the likes of George Clooney and Sheryl Sandberg. I get that they are recognisable but can the average reader really relate to them? I think it’s fine to mention ‘normal’ people that have made extraordinary things, not necessarily celebrities ways to the top – I get that in magazines and blogs anyway.

Is this a book worth reading?

Yes definitely a book worth reading. This is probably the best book I’ve read about networking and one of the best ones about entrepreneurship in general. The author wanted to serve mankind through philosophy (but decided tech companies was a better route), and this shines through. The book makes you think about the bigger picture. Networking isn’t about gathering business cards or adding connections on LinkedIn, you’ll learn why when you read the book.

For more about Reid Hoffman, you can check him out speaking at LinkedIn’s speaking series:

More on networking at 3 Ways to Work the Room Like a Networking Expert.

Filed Under: Book, LinkedIn, Monthly, Networking, Video Tagged With: , , , , , ,

How To Talk To Complete Strangers

how you can speak to new people

I was interviewed in the Mail on Sunday newspaper today, on the off-piste topic of talking to total strangers. Because I’m the organizer of three meetups here in London and run a few workshops on personal branding I guess I’m somewhat qualified on the subject of speaking to complete strangers. These are some of the ideas I shared in the interview, for the full story you’ll have to get the newspaper in January (or I’ll just link to the article once it’s up).

Why speak to strangers in the first place?

You might wonder why on earth you should speak to strangers. I mean afterall, we’re taught by our parents never to speak to strangers and the only folks that do seem to be the village idiot and local yokels. I guess the reason I speak to strangers is to network, by running events you get to know very useful and interesting people – and the only way to do this is by talking to them.

In business, the ability to small talk with (and get on with) anyone is very useful. If you want to be seen as an all-rounder that can get on with multi-national and cross-sector teams, you’d have to have the ability to speak to strangers. Here are the stranger talking tips that I came up with for the interview today:

Get introduced if possible

This is the simplest way of speaking to strangers and it will work when you’re at a well-organized event. Ask the host of the event you are at who you should speak to and get an introduction – this is of course much more powerful and cuts through the chit chat. It saves you having to think about an icebreaker as well. The host should know what people are happy to chat with someone like you and vice versa.

The big city question that always works

In London you can get away with the easiest question of them all: Where are you from? Very few people are actually from London and most folks have a great story about how they got there. I would think this one applies to any major city which has an influx/outflux of people.

Talking points allow strangers to speak

Whenever something unexpected (especially something less-than-great) happens, people get talking. If you get stuck in the lift, if the service is really slow at the bar, someone stinks on the tube, if the weather suddenly shifts – it’s ok to speak to strangers all of a sudden. This is because you now have a talking point and you have an experience to discuss.

Got a joke? Deliver it!

Humor always works, crack a clever joke and it’s now acceptable to laugh and comment on your wit. You have to be a little bit careful with jokes when dealing with strangers, you don’t want to slate a restaurant and then find out that the owner is the stranger’s brother.

Learn from pick up artists

If you look at the world of chat-ups, it usually starts with a genuine question like ‘do you have a light’ or ‘do you know what DJ is on tonight?’ – and take it from there. You’ll know whether someone wants to have a conversation with you or if they quickly answer your question and turns away. Don’t forget to smile when using this approach by the way!

Fancy dressing up a bit?

Another observation I’ve made is that fancy dress tends to encourage people talking, if you’re wearing a chicken suit people think it’s normal to have a chat for some reason. If that’s too extreme for you, try wearing a peacock item like a hat, a scarf or a loud shirt – all of which are great conversation starters.

Bring an icebreaker

People in parks don’t tend to speak to strangers. People on buses don’t speak to strangers. There is an exception however, this is when someone has brought their baby or dog, suddenly it’s ok to smile and ask ‘how old is she’ or ‘what’s his name’? So if you want people to speak to you, bring an icebreaker of some kind.

Have a drink

Alcohol is another obvious icebreaker, people that work in the same office and never speak will suddenly be best pals at the Christmas do thanks to a few drinks. Trouble is they go back to not speaking in January again… Alcohol works but it’s not a great strategy in my book, I know I’m not the best networker when I’ve had a few drinks!

When you do speak, find out what they are passionate about

Find out what people are passionate about if you want to stand out. Everyone asks what’s your name, what do you do, what company etc – you have the same conversation with everyone. Instead ask what they did on the weekend, what holidays they have planned etc and get them talking – everyone wants to speak about their passions. The following day this person will definitely remember speaking to you and you can take it from there – now that you know each other a little bit it’s time to see how you could possibly help each other.

Bottom line

When attempting to talk to strangers you have to accept that the first few moments will be awkward sometimes, that some people will blank you – that’s just life. My experience tells me most people are very happy to have a chat and nobody will bite you! Your only challenge is breaking the ice and the conversation will flow from there.

Do you have any hot tips for talking to strangers? Or how to avoid strangers talking to you? Or how not to be strange? Please let us know in the comments!

More on this at How To Work The Room Like a Networking Expert.

Filed Under: Networking Tagged With: , , , , ,

Speed Networking at Manchester Business School

Last month, I did a Personal Branding gig at Manchester Business School and I was also asked to facilitate a speed networking session. Now I have never been to a speed networking event but I imagined it to be similar to speed dating and I was absolutely right. People get four minutes to introduce themselves to a stranger, then the bell goes off and they have to speak to the next stranger.

I am probably not the biggest fan of speed networking (or speed anthing really) as I believe networking is best when you take your time to really get to know people. I suppose it can work well at a big event like this, we had some 300 people wandering around a room and striking up conversations. Most of the networkers were graduates but there were plenty of ‘corporate’ people there as well which made for an interesting mix.

Anyway, on the train up to Manchester I came up with a few wise words on networking and I thought I’d share them right here in the shape of seven tips:

1. Kiss all the frogs

Jason Cobine taught me this term, it basically means that you never know which frog is a prince/princess and you never know which person at a networking event could lead to business. I have had business opportunities from lots of people where I least expected it. As long as you treat everyone the same and take your time to get to know people you are kissing the frogs and hopefully some of them turn into royalty.

2. Find out how you can help

As Kennedy said, ask not what you country can do for you, ask what you can do for your country. Instead of chasing business from everyone, see how you can help them with their business and you know it will come back to you. This is giver’s gain or networking karma and it really does work.

3. Find common ground

Networking with new people is much easier once you have found some common ground. This may be that you went to the same high school, support the same football club or you both listen to the same type of music. Common ground is a great ice-breaker and it puts both parties at ease.

4. Tell people what you do, not your title

Can’t stress this one enough. Nobody cares about your fancy shmancy title, they want to know what you can do for them and their network. So instead of saying you are the founder of X, a consultant at Y or a partner at Z, tell them how you add value to others.

5. Find out passions

Scott Gainsburg talks about how not to ask people what they do, where they live, how they find the event or any of the usual questions that everyone else asks. Instead, try to find out what the other person is passionate about and let them elaborate on that. This way you will be remembered as the person they had that great conversation with. Let’s face it, people like to talk and they love to talk about their passions – let them do it and they will remember you for it.

6. Take quick notes

Some of the best networkers I know will always put down a few notes about new people they meet. Some will write this on your business card, others in their notebook or even add it on LinkedIn. The point is that you will meet plenty of people at events and to remember them properly you may want to take notes.

7. Follow up

You have to strike while the iron’s hot. Whether you want to send a social media invite, have a phone call or a meeting you have to get in touch in the next seven days.

Those were my tips that day, I think they helped people connect better and hopefully they got some business as a result. Here is the presentation I delivered later in the day:

Filed Under: Events, Monthly, Networking Tagged With: , , , , ,

Professional Networking Basics by Dave Clarke

dave clarke
I had the pleasure of seeing professional networking expert Dave Clarke speak last year in London and thought it would be interesting to interview him here on the blog. Networking is a big part of personal branding and business in general and a strong network will probably be your number one revenue stream over time. Let’s see what Dave has to say…

Hi Dave, how did you get into networking?

I discovered formal, organised networking groups about 8 years ago. I had recently moved and was a business development partner in a Management Consultancy. I wanted to meet other business professionals in my new area. My experience of different groups was mixed to say the least. I was frustrated that none of the groups met my needs so started my own NRG Networks.

I have a sales and marketing background, have run a number of Telecoms & Internet start ups & been a partner in a management consultancy. All our business development used to came through close collaboration with other businesses. Many of these were complementary to us and many were competitors.

Tell us about NRG Networks and how it is different to BNI?

NRG run Networking Groups for the Directors and Partners of established businesses and professional Firms. They typically provide their services on a Regional or National basis. Each NRG group has a monthly meeting that is facilitated so they get to share business, support and knowledge.

BNI is a closed group with a rule of only one member per business category. NRG is open to more people in the same category. My experience is that an open collaborative approach like this suits many business owners and professionals more than a closed one.

What are the biggest benefits to members?

The facilitated (rather than enforced) structure means they get to develop themselves and their business by building a network that is right for them. In a recent survey of NRG members the amount of new business generated per year through NRG was over £15,000 [$20,000] in their second year. One exceeding the average by a factor of 10!

They get to enjoy it too and as Andy Lopata said recently “It’s the combination of a core membership who understand networking, a good mix of businesses of different sizes, and a relaxed atmosphere that make it such a worthwhile investment.”

Any hard-to-spot pitfalls that are critical to avoid in networking?

Don’t fall into the trap of thinking networking is a numbers game. Spend quality time with fewer people rather than attending every meeting you can & meeting lots of people once.

What networking tip in general can you recommend?

Focus on why you are networking and structure your time and efforts. Following up will make you different from most of the others that people meet. Weekly tips at the business networking blog.

Looking out 3 to 5 years, what do you think will be the next big change in the world of networking?

The technology catching up with the way we organize our real life social networks. These networks include our family, school friends, college friends, work friends, church, social clubs, sports clubs, business groups, community groups, hobbies etc. In each of these we will have a few really close ‘connections’ or ‘friends’ and some more looser ties. It is not always appropriate to mix these. It is not easy to organise yourself online to reflect this so I still think the technology has some way to go.

What are the things that pick you up when your chips are down?

My faith, my wife, my children, my friends, my music (and Manchester United winning!).

What’s the one thing people can do to help you right now?

Encourage any professionals or business owners they know to give NRG a try.

Filed Under: Expert Interview, Monthly, Networking Tagged With: , , , ,

3 Ways To Working the Room Like a Networking Expert

I get asked quite a bit about networking and the relation to personal branding. Sometimes it’s about where to find good networking events, sometimes it’s more about how to approach the whole networking thing. Networking is second nature to some people and it’s a bit foreign to others. Once you have developed and positioned your personal brand it’s time to go out and meet some people and make an impact with it I say.

Why should you be networking?

Did you ever hear the mantra that “people buy from people they know, like and trust”? This is as true as it ever was. But to get trusted you have to be liked, to be liked you have to be known… How do you get to know customers in the first place? Well, a networking event is a great forum for it. This is where people come out for the very reason to meet people, share ideas and in a way sell themselves.

At a networking event, you are showcasing yourself, your expertise and ultimately your personal brand. There is plenty of networking advice out there, I have come up with three things that have worked well for me over the years and here goes:

1. Listen and then ask the right questions

The golden rule at a networking event, or any other business interaction for that matter is to listen more than you talk. This is classic sales stuff that everyone should know. If you think about the really successful people in your life, are they very chatter boxes or are they listeners? I would think the latter. Do they ask the right questions? I would think they probably do.

You will only reach success when you understand what other people really want. Sometimes you will get people asking for your services but not knowing exactly why. This is your job to listen and make sure they know their reasons for it and what they are trying to achieve. If you think about it, what salesperson would you buy a camera from; the one talking at you and selling feature after feature, or the other one asking what you are going to use it for?

Being an active listener and asking the right questions sounds like simple stuff but it can be harder to actually do. Active listening takes effort but when you do it the right questions will pop up and the payback is there.

2. Partner up with the competition

You will inevitably bump into people doing similar things to you at networking events. Instead of the Mexican stand-off which sometimes happens, try to find out where there can be synergies between the two of you.

Let’s say that you sell ice-cream for instance and you get talking to another ice-cream salesperson. Do you work the same location? Do you sell the same flavors? Do your customers have the same demographic? Same pricing? Probably not on most of these questions. This means you can share information on suppliers, discuss general market conditions and you can even set up a joint venture and seek global ice-cream domination.

If you are a solo-preneur, your success will depend on fitting into an eco system of other consultants and freelancers. Make yourself useful to them and help out as much as possible; your efforts are always appreciated and you will be repaid at some stage.

You will invariably bump into and sometimes lock horns with the competition at client sites. The networking event provides a ‘safe’ environment where you can you can practise interaction with the competition without causing too much damage in front of a customer.

3. Hunters vs. farmers

We have all been there. You get chatting to someone with a big smile from ear to ear. They are hyper friendly and rather quickly state their business while scanning the room for their next prey. They hand over their business card and expect you to reciprocate; they then make an excuse and move on to the next person.

This person will go home that night and count up the number of cards they got and more crucially, how many of their own cards they handed out. These people are called hunters, meaning they are only interested in a quick chat and exchanging cards. Study after study shows that this approach doesn’t work but some folks do it as handing out cards feels like an achievement.

Farmers on the other hand, understand the value of knowing, liking and trusting people. They know that business relationships grow over time and they are prepared to bide their time.

They say that all you need is twenty people in your network if you nurture it well. These twenty people may take many networking events to get right but the farmer knows that having a real connection with one person is much stronger than shallow chats with hundreds.

In practical terms, when you start out on the networking circuit it’s probably difficult to know who’s who. When you see the same faces a few weeks in a row you’ll know who the farmers are – and where you need to put your energy. The fact that the farmers are laid back, very comfortable with networking and genuinely interested in people certainly will certainly help you on the way.

Your turn

That’s three tips that have worked for me, hope they are of use to you. Now what are your best networking tips? Please share your thoughts!

Check out How to Find Networking Events for more ideas.

Filed Under: Events, Networking Tagged With: , ,
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