how to avoid being networked to death

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How to avoid being…

NETWORKED TO DEATHAnd instead do things…

That Open Doors

May 16, 2013


Or

How I became an accidental marketer and ended up talking to you today

May 16, 2013


Managing Director with Cambridge Partners & Associates– M&A advisory– Valuation and appraisal – Management consulting

Author of Mergers & Acquisitions For Dummies– Available everywhere– Led to and result of my accidental marketing– Please buy a copy, I’ll make 75 cents

Your Host: I’m Bill Snow


Networked to Death or NTD[net-wurkt to deth] or [en-tee-dee]Idiom 1. the act of hanging around with your peers, competitors, and friends

and expecting them to buy something from you 2. extreme career weariness resulting from the failure to sell your

product or service despite your endless participation in events with your peers, competitors, and friends

3. an unsold TV show idea created by Bill Snow whereby an insurance sales person and an IT sales person are locked in a room and not permitted to leave until one sells something to the other one.


Million Dollar Advice about Networked to Death Bad Avoid it


Doing things that open doors[doo-ing things that oh-pun dohrs]Completely generic idiom I thought of, I know, it’s weak 1. offer something! 2. you’ll never stand out if you strive to be the best at fitting in 3. the modern tools, they rock


Doing Things That Open Doors Good Plagiarizing my father – “life is a series of doors”

• You can’t open any of the doors• Can’t ask for a door to be opened

• Unless you’re the son of a N Korean dictator• All you can do is present yourself in the best possible light• Someone opens each door for you• Having something to offer increases odds of a door opening


My confession. Hello, my name is Bill… [audience]: “Hello Bill!” …I Was Once Networked To Death (NTD) Didn’t know what I was doing

• Spent way too much time with competitors and peers• Beer was involved, so not a total loss

Stumbled upon something Here’s my story


Venture Capital 101• Had an opportunity to raise money for a company – door was ajar• Chairman pointedly asked me, “what the #$%@ do you know about

venture capital?”– Door slammed shut

• Incensed, I wrote Venture Capital 101, and I admit, I did it only because I was, well, incensed– “Anger is an energy” – John Lydon– Claimed the book used Keith Richards’ guitar tuning from Brown Sugar as a

paradigm for venture capital– Loaded with pop culture references (Mick, Keith, Brian, Charlie, Bill)– Takes reader on a funding journey– From idea to venture capital to exit and all points in between– Latest version has a nice picture of my dog (RIP)


Iggy Pup

June 5, 1996 to October 23, 2010


The Accidental Offerer I was “between opportunities”

• Or since I was from a failed dotcom, “between servers” Networking scene

• Everyone said the same thing – they asked (money, job, advice, etc)• Since I’ve never been a joiner, I rejected that

“Nice meeting you…here’s that book I talked about” • I stopped asking, I had something to offer• Free! And worth the price


VC 101 Post Mortem People thanked me! Venture Capital firms contacted me!

• Downside: VC101 is basically a “what not to do” book Periodicals contacted me!

• Column with ePrairie (“candid, abrasive, and refreshingly hip!”) People said I should sell it!

• So I sold it (website, now on KDP) Dog caught car

• eBook before we had eBooks, no Kindle Digital Press• Didn’t know what to do with my modest bit of renown and success• Prior to LinkedIn, Facebook, Twitter, and other social media


And Years Later… Wiley Publishing, Inc., a behemoth “don’t call us, we’ll

call you” type of outfit• Called me• Venture Capital 101 found its way to Wiley• Thank you Internet

LBOs for Dummies• Target was Wall Street guys doing Enormo-Dome deals

I suggested M&A for Dummies • Middle market has smaller deals, but many, many more

“Naw, Bill, that doesn’t make sense”


And even more years later… Wiley came back - they had a new idea

• All theirs, not mine, I didn’t think of it Mergers & Acquisitions for Dummies!

• Remember, they thought of it, not me Aim it at the middle market

• Again, their idea, not mine


How to Write a “For Dummies” Book Spend the summer of 2010 writing outlines

• Make sure every one gets rejected (page counts)• Let the Acquisitions Editor take a swag (“Dummies-style”)• Fed up, tell him to submit the complete disaster he wrote

The Grand Poobah at Wiley green-lights the disaster• Oh, shoot. Now I have to write it• “Write it.” “Pay me.” “Write it.” “Pay me.”• They paid me. Then I threw out their outline and did it my way• The only other “For Dummies” book I could write is “How to Write a

‘For Dummies’ Book For Dummies”


The Accidental Marketer Rec’d my first copy - just before book was released

• Proud of myself, bucket list, patted myself on back• Lasted about a second and a half

“What do I do with it?” • A clue was when Wiley sent me a, “How to Market Your ‘For Dummies’

book For Dummies” pdf Strengths and weaknesses

• Lazy interview question begets generic answers (“I work hard”)• We all were asked this at 22 (phrase weakness in the form of a strength)

• In reality, typical kid: strength drinking beer, weakness getting up in the A.M.• Into my 40s before I could provide a reflective, insightful answer


Strengths and WeaknessesWritten VisualOral/phone EmailMarketing SalesMeeting in person Phone conversationStudent/Learner EducatorSolver LearnerAdvisor ListenerSolver ImplementerIdea generator Plan executorOfferer AskerNegotiator Follow upResearch InsightsMaintaining CreatingCompiling AnalyzingDesign/format Content creationTelling DoingCreate original content Update and maintainGather info Find connections &

insightsConflict Consensus


And thanks to Larry Gard… What sort of learnin’ are you yearnin’ and burnin’ fer

• Visual learners• Auditory learners• Reading (or writing) preference learners• Kinesthetic learners

o Learn by doin’


Bill’s Marketing Aside/Complaint Marketing often akin to getting dressed up on NYE

• Trying to impress peers (essentially NTD)

Complex messaging a lots of big words White noise (Everyone is asking) Marketing should be aimed at your target, not

peers/competitors• Write so your intended target can understand it • They’re not in your business. Write so your mother or a child will

quickly and easily “get it.” • Who cares if your peers/competitors think you’re a simpleton?


PE World Example Unleash the newly minted MBA They all say the same thing

• “We’re different”• “We have money”• “We have industry experience”• “We want to buy* your company!”

*In a proprietary, non-competitive, underpriced, seller note, earn out sort of way


PE Messaging – Big Whoop! Harvard MBA class Myopic – “Perfect for me!”

• The buyer perfectly defines a perfect target and why that perfect target is so perfect…for the buyero High growtho Fat profit marginso No customer concentrationo Barriers to entry/defensible market position o Owner willing to sell at a low multiple

• Rarely spend time communicating what the target gets from the bargain


My Marketing (work in progress excuse the dust) M&A for Dummies is a unique “leave behind”

• 3rd party validation• Has backfired on occasion

Writing and Speaking• Newsletter, article, books, universities, soapboxes...anywhere!

Connecting with influencers • Wealth managers, lawyers, accountants, commercial bankers – they have

the ear of my targets – need to offer them something• I don’t waste my time with de facto events (peers & competitors)

“Networking days” – standard meeting times Golf


Where I need to improve Website Social media More consistent newsletter More books – Probably self publish


Self-Publishing Tips Descriptive title

• VC101 stroke of lucky genius (keep it simple, Snow)• Similar to cover boxes in video retailing

Kindle Digital Press, iTunes, Lulu, others• Forget paper – printers happy to take your dough

Price point: 99 cents (2 or 3 to 100+/mo)

Get a graphics person to design cover Hire editor and proofreader Fire up your marketing machine


Combat the Networking to Death Syndrome Know what you’re getting into before doing it

Avoid peers/competitors Network with whom you want to do business• Targets (or influencers) Do things that build your personal brand • Jump at every opportunity.

o VC101 begot M&A For Dummies begot my newsletter begot Harvard begot Dan Kennedy event begot Kellogg begot DePaul board opportunity begot curling begot speaking to you today begot…? Oh, skeet shooting later this month

• The modern tools – Facebook, LinkedIn, Twitter, Udemy, Google+• Self publishing – Amazon Digital Press – great way to differentiate


Combat the Networking to Death Syndrome Have something to offer (think of the other guy)

• Stop asking, start offering• Do favors, open doors for others

Truly understand your strengths and weaknesses• BS question we all got asked at 22• Shore up your weaknesses by finding team members who

compliment (not duplicate) your strengths

• Segue from doing into telling• Need a team• Otherwise you’re a one legged man at an rump kicking contest


Combat the Networking to Death Syndrome Don’t wait for the world to bestow a title

• DIY – but make sure you do your homework Be genuine, be honest

• Avoid putting on airs, being “fake”• Direct answer, not what you think the other person wants to hear• Speak from your heart, don’t worry about offending

o No matter what you do, you’re gonna tick off someone

Don’t be afraid of being different• You’ll never stand out if you strive to be the best at fitting in


My Email SignatureBill

William R. Snow Managing Director Cambridge Partners & Associates – Investment Banking 500 N. Plum Grove Rd. Palatine, IL 60067 Mergers & Acquisitions│Valuations and Appraisals│Consulting Office: 847-776-1976 x 242 Mobile: 312-282-1738 Email: [email protected] Internet: www.cambridge-partners.com/Investment-Banking.html Authorship: www.amazon.com/author/billsnow Stay in touch: Join my mailing list Connect with me:

Author of Mergers & Acquisitions For Dummies


The Follow up Have a reason or goal – avoid “let’s stay in touch”

• Personal friendship, business, asking, offering, etc.• Talk about stuff people talk about

Fuzzy or concrete• Fuzzy (no timetable, not urgent) – Use stasis marketing• Concrete (a decision will be made) – Bakeoff city, baby!

Bill, what can I offer!?!?!?!• Gotta figure that out yourself, I can’t do everything

Develop rapport• Avoid charging up the hill – target may become influencer• Staying in front – often the last person wins


The End. Finally. If you’ve successfully avoided NTD…

• You’ve conveyed value to others• People will meet with you• People will contact you and offer you things• More doors will open• You’ll be invited to speak to networking groups


What You Can Offer (Me)• If you liked my presentation, please connect

with me via LinkedIn• http://www.linkedin.com/in/billsnow• Give me a recommendation

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