Most executives believe that they will lose more than 28% of their business if they stop networking - so you better believe that your competition will be networking into this recession. 

Listen in for 6 tips to recession proof your network before the recession hits!

Drink of the Week: The Hibernating Bear

Julie Brown:

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All right.

So I've primed this conversation with podcasts, covering the history

of recessions in the United States, as well as seven tips to financially

prepare for the upcoming recession.

Now we get to my area of expertise, networking.

Welcome to episode 1 0 8 of this shit works.

A podcast dedicated to all things networking.

Business development in relationship building.

I'm your host, Julie Brown.

And today I'm discussing how to recession proof your network.

This episode is sponsored by Nickerson.

A full service.

Branding marketing PR and communications agency with team members in Boston.

Los Angeles.

Miami and New York city.

Is it then at Nickerson, C O S.

Dot com.

Okay.

The first thing I want to say is that we shouldn't be building our network.

In a crisis.

Meaning, we shouldn't wait until we are in a place of need to

start building relationships.

Like the wise Chinese proverb says you should dig your

well before you're thirsty.

This quote has also been attributed to Harvey Mackay and Seth Godin.

You can decide who you think said it first.

Second, like another famous Chinese proverb says that best time to

plant a tree was 20 years ago.

The second best time is now.

If you haven't started building your network, attending networking events.

Reaching back out to past clients and contacts.

The time to do that is now.

Okay.

Anyone who knows?

My story knows that I built my husband's business during the recession caused

by the subprime mortgage crisis.

While simultaneously working, full-time bringing in business for

one of the largest architectural practices in new England.

I know firsthand that your network will one.

Hundred percent carry you through economic downturns.

In the most recent recession, you know, the one that just happened

in April of 2020, when the us economy contracted a record 31.2%.

It was my network that booked me for virtual speaking gigs.

It was my network that suggested me to various companies to teach their

staff how to network and continue to pursue business virtually.

I could literally feel my network rooting for me.

I could physically feel how much they wanted me to not just survive, but

thrive during all that uncertainty.

In recessions, there's always the possibility that you or someone

you love will lose their job.

Companies have already started hiring freezes and there are already

some who are beginning layoffs.

This is when I must reiterate the fact that 85% of jobs are

filled through networking.

This is where I have to say again.

That 70% of jobs are never advertised to the public.

70% of professionals hired in 2016, had a relationship with someone who

worked at the company who hired them.

If you or someone, you know, unfortunately gets laid off in the upcoming recession,

there is an 85% chance that you will find your new job through networking.

And I may have mentioned this before, but statistically.

The person that will help you find a job will be a member of your outer circle.

This is why having a network that is broad and deep in varied is so important.

Remember.

There is power in weak ties.

If you own your own company or responsible for bringing business

into the company that you work for, here's a statistic for you.

Most executives believe that they will lose more than 28% of their business.

If they stop.

Networking.

So you better believe your competition will be networking into this recession.

So here are some tips on how to recession-proof your network.

One go all the way back to episode two of this podcast and be listened

to how to analyze your network.

This will give you the tools.

To remember all of the people who are currently in your network, as

well as categorize the strength of your relationship with each person.

Remember weak ties and loose relationships are not a bad thing.

They are still a pivotal part of your extended network.

Too.

Think about how you can connect with people in your network that you

haven't talked to in a long time.

Ben go back and listen to episode 31, the five words that

can reconnect you with anyone.

It's important.

You start reaching back out to people now, before you are in

a crisis or a place of need.

Not that your network won't want to be there when you need help, but

isn't it nice just to reconnect with no ulterior motive other than to

strengthen and foster that relationship.

Three.

We talked a lot about our financial wellbeing and episode.

1 0 6 and the importance of having a stockpile of savings.

I want you to think about having a stockpile of social capital.

Here's what I mean by this.

Are you involved in the lives of the people in your network when they post

on LinkedIn or social media, do you comment, and interact with them and

not just with one word comments or heart emojis, but with thoughtful

responses to what they're posting.

What about if you have a friend, do you only send them a happy

birthday message on Facebook or do you call them or better yet?

Send them a birthday card.

If someone in your network hosts an event, do you attend

or make excuses not to be there?

All the little things we do add up.

I heard a quote once that said the extra mile is never crowded.

And you know what.

It hardly takes anything.

To get to that extra mile.

Currently the social capital and investment in a lot of our interactions

is unfortunately pretty weak.

You'd be amazed at how little it takes to stand out.

For.

If you don't have all of your connections and their information in

one place, please do that for yourself.

All your connections should be in a place where you can access all of their

information, their phone, email, social media handles pertinent information

about them like their birthday.

Do they have kids where you met all the stuff you've learned about

them during your relationship?

You need to be able to take that information with you?

Should something happen?

Meaning, if you are laid off, do all of your networking contacts

live in the company, CRM that you will no longer be able to access.

Please make a duplicate CRM for yourself.

There are a number of free databases that you can use.

If you are an entrepreneur and you haven't invested in a CRM or a

contacts database yet, please do that.

I want you to get an understanding of how much you know about your network

and I want you to be able to track how often you were in touch with them.

Five.

Network every week.

Put yourself in a position to meet someone new every week.

Either by going to events.

Or by asking your existing network for strategic introductions.

Remember the Chinese proverb about the tree.

Start meeting new people.

Now start diversifying your network.

Now start expanding your network now.

Six.

Give back to the people in your network would have helped you along

the way, ask them if they need anything, send them a handwritten

note of gratitude, make a strategic introduction, offer your expertise.

Be a sounding board, help them work through a problem.

Be invested, not just in their success, but in their wellbeing.

So here are six tips.

Are there more.

Yeah.

Of course there's more, but let's start here.

It's a good place to start.

Okay.

Onto the drink of the week since the S and P 500 recently slid into a bear market.

And I am writing this post right before I head off, to Maine for a

quick weekend way to visit family.

I chose a recipe from the magazine edible mean called the hibernating bear.

This recipe calls for all the things I love, honey.

And Sage and of course, bourbon.

Here's what you're going to need.

Two ounces of bourbon, the recipe calls for a wiggly bridge.

Actually I think Wigley bridge invented this recipe.

they are made in New York and it's very, very good.

But if you don't have access to Wigley bridge where you are, you

just choose your favorite bourbon.

Three fours ounce of honey Sage simple syrup.

Now, some of you know, that I have an organic garden in my Sage

plant is about like 10 years old.

So it's huge.

I also have a honeybee hive in my backyard.

So I get my home honey every year.

So I can make this Sage simple syrup from all my own shit.

So in order to make it.

Take one cup of water, half a cup of honey in 10 Sage leaves, combined

ingredients in a small sauce pan, please over medium heat and bring to a boil.

Reduce the heat to low and simmer for three minutes.

Removed from the heat and when it's cool strain out, the Sage leaves.

You're going to need an orange peel and another sagely for garnish.

So what you're going to do is you're going to add all ingredients into

a shaker filled with ice cover and shake for 15 to 20 seconds, please.

One of those fun.

Um, big ice cubes, a square or a circle into a rocks glass.

Strain the cocktail into the glass and then rub the rim of the glass

for the orange peel and then drop that into the drink and then smack.

The Sage leave a couple of times.

to get the oils to activate and then put that siege leave in the cocktail.

All right friends, that's it for this week.

Make sure to subscribe and review and share with your friends and

get out there and start networking and building up your networking

relationship capital until next week.