“Will You Marry Me”?

Building business relationships

 

You would never ask someone to marry you on a first date, so why would you expect someone you’ve met for the first time to refer business with you?

We have all heard the expression “It’s not what you know, but who you know,” and in many cases we use that expression in a less-than-complimentary way. In those situations, perhaps we should respond by assessing our own skills in developing relationships that can help us build business and careers. Professional relationships that help us along in our career do not happen by accident or without significant effort. They require nurturing, constant contact, and a host of other important ingredients that, when properly applied, can create a support team as dedicated to our success as we are.

We begin developing close friends early on in life. What we might not have realized in our developmental years is that the friend we sat beside while learning our ABCs may indeed be our doctor, tax adviser, or our children’s grade school teacher later on in life. However, as adults we can visualize that the people we meet at networking events may indeed end up changing our life—or more importantly, we may be able to change theirs.

Building career relationships is all about capturing relationships as an ongoing and fundamental part of our life plan. Life is about who you know; the common ground we find with our associates; and the commitment to engaging with our friends and associates, those we know now and those we have yet to meet. The most important relationship in the world may be just around the corner, or waiting for you to say hello at that next mixer.

5 Keys to Building Business Relationships That Should Be Considered When Networking

  1. Contact: Assess your availability to meet and be met by others. Are you in the right professional associations? Do you attend events regularly? Are you an observer or participant? How many people in your associations do you know on a first-name basis?
  2. Commonality: Seeking commonality with others is important, as it is the means by which you communicate in an interesting and outgoing way. Finding activities, interests, and even exercise plans that you have in common offers the easiest way to interact on different levels, broadening your communication.
  3. Credibility: Associates, especially new ones, need to see us as credible people. This means that we need to mean what we say, say what we mean, and always follow through with the commitments we make. When people say, “Do you walk your talk?” What they mean is, “Are you credible?” While we never know how many demonstrations of credibility we have to perform so that people believe we are who and what we say we are, there is a universal answer to how many times we can NOT be credible. One! That’s why it’s important to take our commitments seriously, each and every time we have the opportunity.
  4. Confidence: Only when we have had the opportunity to demonstrate that we “walk our talk” over time and with enough interactions will our friends and associates be willing to show confidence in us. When people have confidence in you they will follow your lead, your example, and your direction. They will allow you to influence their thoughts on particular issues and they may even see you as an expert in others.
  5. Trust: Most relationships never really make it here! You see, trust allows a relationship to flourish because it makes no difference which party leads and which follows. One respects the other in any given interaction and works to unconditionally support the direction, philosophy, and commitment of the other. When you achieve this level of trust in a relationship, you’ve made it! The relationship has achieved intradependence!

It takes time to cultivate relationships, which is why attending just one networking mixer won’t do it. It requires the dedication keep attending, having a plan when you arrive, and the patience for building those relationships over time. Next time you decide that networking isn’t worth the effort, think about this: People who have made time in their schedule to network have gotten results like these:

  • 87% of top-level executives network 2–3 times weekly
  • 80% increase their business development
  • 45% increase their sales
  • 95% build their business relationships
  • 90% increase their business opportunities
  • 80% have found their next job through networking
  • 65% receive a return on their investment
  • 76% get in front of the type of business that they would like to meet

Sharon Jenks is the CEO of 6 Degrees Business Networking, #sd6degrees

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What millennials do and don’t want from their employers

Busting workplace myths about the youngest—and soon-to-be biggest—generation

Baby Boomers and Millennials

This is the year the millennial generation—ages 18 to 34—will surpass the baby-boom generation in size. It has already done so in cultural and social significance. We boomers grew accustomed to the notion, forged over decades, that we drove the zeitgeist of our times. No more. Millennials rule.

That’s certainly true in the workplace (see our coverage of the 100 Best Companies to Work For). Any discussion of talent quickly devolves into a dissection of the millennial mind. Managers struggle with preconceptions. Must millennials change jobs every two years? Do they require constant reinforcement, after a childhood of “everybody’s a winner”? Do they need a “chill” workplace? Free food? Foosball?

Many of the popular notions are pure myth. Some busted ones:

Millennials want to change jobs frequently.

Wrong. A study by my former colleagues at the Pew Research Center shows that millennials actually value job security more highly than boomers do. But they won’t stay at a job they don’t like. Some 50% of millennials say having a “job you enjoy” is “extremely important” to them, compared with just 38% of boomers.

Money doesn’t matter.

Maybe. The Pew study found that millennials put “a high-paying job” near the bottom of their list of work priorities—but so do other generations, in roughly equal numbers. Count me a skeptic on all counts. What people say when surveyed over the phone and how they act when an offer is on the table are different things.

Every Millennial wants to be an entrepreneur.

They may all want to be Mark Zuckerberg, but it’s not happening. A recent Wall Street Journal analysis of Federal Reserve data shows the share of people under age 30 who own private businesses has hit a 24-year low—just 3.6%, down from 10.6% in 1989.

Still, there is no doubt that this generation is different. It is the most diverse in American history—43% nonwhite—and more confident about the nation’s future than older generations. That’s a reverse from the 1970s, when young boomers were considerably less optimistic than their elders. Millennials also are slower to get married than earlier generations and less likely to belong to a political party—which may make their employer, by default, the most important institutional affiliation in their lives.

The biggest difference is not who they are, but how they live. They are the ones most comfortable with the new human appendage—the smartphone—that lets them stay connected to a vast network of friends and provides instant access to information, both good and bad. They are quickest to adapt to the ways in which the mobile Internet is changing the fundamental logistics of their lives, and the first to demand the workplace do the same.

So pay attention. The millennials aren’t spoiled products of a coddled past. They are harbingers of our connected future. – by Alan Murray, editor of Fortune Magazine.

 

 

 

THIS YEAR, Millennials will overtake Baby Boomers

This year, the “Millennial” generation is projected to surpass the outsized Baby Generation PopulationBoom generation as the nation’s largest living generation, according to the population projections released by the U.S. Census Bureau last month. Millennials (whom we define as between ages 18 to 34 in 2015) are projected to number 75.3 million, surpassing the projected 74.9 million Boomers (ages 51 to 69). The Gen X population (ages 35 to 50 in 2015) is projected to outnumber the Boomers by 2028.

The Millennial generation continues to grow as young immigrants expand their ranks. Boomers – a generation defined by the boom in U.S. births following World War II — are older and shrinking in size as the number of deaths exceed the number of older immigrants arriving in the country.

FT_generations-definedGenerations are analytical constructs and it takes time for popular and expert consensus to develop as to the precise boundaries demarcating one generation from another. The Pew Research Center has established that the oldest “Millennial” was born in 1981. The Center continues to assess demographic, attitudinal and other evidence on habits and culture that will help to establish when the youngest “Millennial” was born or even when a new generation begins. To distill the implications of the census numbers for generational heft, this analysis assumes that the youngest “Millennial” was born in 1997.

Here’s a look at some generational projections:

Millennials

  • The Census Bureau projects that the Millennial population was 74.8 million in 2014. By 2015 Millennials will increase in size to 75.3 million and become the biggest group.
  • With immigration adding more numbers to its group than any other, the Millennial population is projected to peak in 2036 at 81.1 million. Thereafter the oldest Millennial will be at least 56 years of age and mortality is projected to outweigh net immigration. By 2050 there will be a projected 79.2 million Millennials.

size of each generation Millennial Baby Boomer Gen XGeneration X

  • For a few more years, Gen Xers are projected to remain the “middle child” of generations – caught between two larger generations of the Millennials and the Boomers. They are smaller than Millennials because the generational span of Gen X (16 years) is shorter than the Millennials (17 years). Also, the Gen Xers were born during a period when Americans were having fewer children than later decades. When Gen Xers were born, births averaged around 3.4 million per year, compared with the 3.9 million annual rate during the 1980s and 1990s when Millennials were born.
  • Though the oldest Gen Xer is now 50, the Gen X population will still grow for a few more years. The Gen X population is projected to outnumber the Boomers in 2028 when there will be 64.6 million Gen Xers and 63.7 million Boomers. The Census Bureau projects that the Gen X population will peak at 65.8 million in 2018.

Baby Boomers

  • Baby Boomers have always had an outsized presence compared with other generations. They were the largest generation and peaked at 78.8 million in 1999.
  • There were a projected 75.4 million Boomers in 2014. By mid-century, the Boomer population will dwindle to 16.6 million.

– Richard Fry is a senior researcher focusing on economics and education at Pew Research Center.