From: http://www.bizjournals.com/

Unlike its stereotype, business networking is not based on hitting up every new person you meet with some line about how great your product or service is while slapping a business card into their hand and uttering clever one-liners such as, “let’s do lunch.”

I often define networking as, “The cultivating of mutually beneficial, give and take, win/win relationships.”

The focus is on the “give” part.

When doing this correctly, with a genuine caring about the other person, with a focus on their needs, their wants, their desires…and when following a proven system of application, you can truly accelerate both your direct and referral business.

That leads to what I call the “golden rule of networking,”, and that is:

“All things being equal, people will do business with and refer business to those people they know, like and trust.”

This is — in my opinion — the essence of networking. In fact, if you were to keep only that one sentence in mind whenever meeting or transacting with anyone, you’ll be nine steps ahead in the game…in a 10-step game.

“All things being equal, people will do business with and refer business to those people they know, like and trust.”

The know, like and trust relationship

In other words, if two or more sellers have a product, price, know-how, or any other determining factor which might come into play that is pretty much the same, or equal, it’s that man or woman who has successfully created the “know, like and trust” relationship with the prospect or referral source who will obtain that sale or referral.

Successful selling has become more relationship-oriented; more relational than transactional. People want to do business that way, and who can blame them? After all, the trust factor between human beings (and especially as it relates to business) is probably at an all-time low.

Prospects are worried about being schemed, scammed, taken advantage of, or just not treated right. They want to do business with someone they know, like and trust. That’s also the type of person they are willing to refer to those they care about.

Yes, “know, like and trust” is hugely important.

Of course, so is the first part of that phrase, “All things being equal” (or even close enough to being equal). After all, while the relationship will get you in the door, if the quality, knowledge base, or any other aspect of your product or service crucial to your customer’s delight is not close enough to equal, it still isn’t going to happen.

That aside, it’s the relationship that makes the difference!