Thursday, March 26, 2009
Networking as Relationship Economics: David Nour
I had the very good fortune to hear David Nour, of the Nour Group, make a presentation on the value of networking and social media. David has a very compeling personal story, see his bio here, which makes his success all that more remarkable. For David networking and business building is all about relationship building. Personal contact bolstered by a superb use of social media (and smarts, drive and ambition) has made David a sought after speaker, consultant and trainer worldwide. His combination of the personal touch and the high tech touch has lead him to develop the concept of Relationship Economics.
David has a lot of insight on how to use many forms of social media, some which I already used, some I have now been able to alter to get better use of them, and some new ones with which I was unfamiliar. He talks about the concept of "relationship currancy" (helping others) and "relationship capital" (being able to ask others for help.) He gave a great example of the supposed "networker" who comes asking your for help finding a job, takes names, and then disappears, never offering you anything in return. The only time you ever see them is the next time they need a job. I have met many like that.
David also talked about what he called the 1-9-90 rule. This is the concept that 1% of the people you know are the "life of the party", in social media these are the posters/bloggers/twitters. The 9% are moderately engaged, they are the commenters, the occassional responders. And the 90% are the casual observers. These are the readers who never comment. The 1% is your high value contacts.
One key point that David left the group with, and actually started with as well, was that regardless of how much you use social media for networking or business development you can NEVER replace the "face-to-face" in a relationship.
If you ever have the opportunity to hear David Nour I strongly recommend you do so. I have bought his book and I await its arrival. Become familiar with David Nour, you will be the richer for it.