Why you need a diverse network

I just happened across a post by Ron McDaniel of Buzzoodle Marketing about "networking diversity." Ron writes:

"How deep is your network? How many people do you know who are very different from you? A diverse network is going to be more interesting and more powerful, because it gives you access to more varied groups."

He goes on to suggest auditing the top 50 people in your network to see how diverse you are.

Ron's point resonates with the writings of Horsesmouth co-founder Bill Nicklin.  For those who don't know him, Bill is a 35-year veteran who has been a multi-million-dollar producer for at least 20 of those years and whose AUM is now bigger than the GDP of at least a few small countries.  He's built much of that wealth thanks to his ability to cultivate relationships with a truly remarkable range of people, from farmers to high-tech executives.  In two different articles, Bill writes:

"If there is one prevalent tendency among financial advisors, it's to stay within their comfort zone. I have seen FAs talk to the same clients over and over, day after day, in what becomes a social ritual. These are the people who provide referrals from a small pool of extended friends. Those same FAs lunch with their closest friends and associates. They take the same clients out to dinner (check out your credit card receipts). If they come up with an investment idea, they try it out on their "best friend" clients first. Rarely, if ever, do these FAs prospect for new business using an original thought. They stay within their social walled garden."

"When looking for new information, opportunities, and relationships, weak ties tend to be more important than strong ties because the cluster of people knit tightly around you at your school, sports club, or church all occupy the same world that you do. Casual acquaintances, on the other hand, are much more likely to know people, and have information, that you don't. This is why the most important people in business development, just as in job hunting, are those who aren't closest to you. The greater the number of peripheral acquaintances, the greater the likelihood of creating a robust network of prospects, clients, and sources of knowledge."

Whatever your usual networking rut is, bust out once in a while.  Find a new watering hole.  Attend a conference focused on some industry that interests you where you currently don't know a soul.  It may do wonders for your business.

Read more (free registration required):

Jump the Walls of Your Comfort Zone
When you venture outside the boundaries of comfortable relationships, you'll open new doors of opportunity and diversify your business platform. Part 1 of a five-part series explores the safety of our "walled gardens" and offers new ways of venturing outside your comfortable confines.

Prospecting: The Strength of Weak Ties
Though it sounds counterintuitive, your best friends are rarely your strongest links to new business—you already know what they know. But casual acquaintances have much to offer.

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Comments

[Buzzoodle Ron]

Thank you for the notice us and the very nice and informative post. Keep up the good work.