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Definition & Overview:
Cash Networking can be described as using social media combined with basic networking skills to get the cash you need in this digital age.
For use in a small business, it can mean the difference between success and failure.
This report will cover the ways you can improve both your social media & networking skills and how you can use them (combined) to get the cash you need.
By now, we are all aware of what social media is. Websites such as MySpace, Facebook, and Twitter have evolved human communication to a new level. No longer do we seek human contact, but through a non-living machine. Video and images, all static, no physicality, and void of body language.
It is body language that we use to use to convey sadness, joy, and elation; on-line, this language is lost. So, the development of social media skills in necessary if one is to achieve Cash Networking.
Basic Networking can be defined as the using of someone else's contacts to create a chain of contacts to assist you in finding work.
In Cash Networking, you still build the chain of contacts, but you use the chain to generate funding for your business or project. Each link on the chain gets you closer to your ultimate goals.
If you are unfamiliar with networking, the text below will help you set up the ultimate Cash Network, that you can use to build your own network of supporters.
First, you will want to set up a Cash Networking log that on your computer or Rolodex, that can be used to keep track of the contacts.
The log should contain:
The date you met with the person (in person, by mail or e-mail, or over the phone)
The Name of the person
Where the person works (what company)
The Title of the person (in business)
How you came by the contact (friend, networking, other)
The address of the contact
The phone number of the contact
The e-mail address of the contact
Did you submit a funding proposal
Did you meet with this person to discuss your funding needs
Other notes (such as things in common, birthdays, et cetera)
Now you can start building your Cash Network. Start by writing down all the contacts you know and other pertinent information.
Then call each of your contacts and get contacts from them who may be interested. You will need to make the initial contact with these people whether by phone or in-person. At the end of the meeting, ask these contacts if they know people who would be interested in the proposal. Then make contact with the new group, and so on.
You will want to arrange your contacts by level.
Level One Contacts - Are the people you know the best. They can be past co-workers, friends, and family. These are the people whom you should meet with in person. Tell them your plans, and present them with a proposal, but don't ask them for money. If they agree to help you, then give them your 'Contact Cash Networking cards'.
You will want to follow up with Level One contacts in three weeks, in which time, you will update them on your progress and keep their focus on your campaign. When ever you make contact with a contact use the log.
Level Two Contacts - Are the people you know on a more casual level, but may not necessarily be your friends. These can be people from organizations such as church, clubs, school, et cetera. Just like in level one, these are also people whom you should meet with in person, but you can also contact them by telephone or email.
You will want to follow up with Level Two contacts in three weeks, in which time, you will update them on your progress and keep their focus on your campaign. When ever you make contact with a contact use the log.
Level Three Contacts - Are the new people that may or may not be able to help you. These are the contacts received from level one and two, or can be new contacts for your day to day interactions. These are people whom you want to give your networking business cards to.
When you hear back from any specific networking contact, you should also email them a thank you note. You want to let them know you are appreciative of their efforts on your behalf, and you want to encourage them to continue working for you.
Remember, execute, manage, and document your networking activities. A well-managed campaign will lead to quicker and potentially better results.
In Cash Networking, we do not ask for cash that would be very, very rude. No we use a form of synthetic body language to get the things (in this instance, cash) that we want. For Cash Networking to work, you must first develop a plan for what you need the cash for and how it will be used. This is very much like writing a business plan or grant proposal, it must be short but detailed.
Your Cash Networking Proposal should be no longer than 1/2 page long, and contain a brief Statement of Need, Statement of Use, Funding Statement; so potential funders can get an idea of your pressing need.
You can use your proposal on Social Media sites. Social media will also allow you to tweak your summary where necessary to get the donations you need. You will also want to open up a Paypal account to accept online donations.
A Project Video will tell both potential funders and funders how far along you are on your project and can give them something they can see. Invite all of your Cash Networking Contacts to the social media site you have set up. The more interactions you have with your donors and possible donors, the better.
You can also uses mass e-mails, and the telephone to gain more support and to tell funders of your exciting progress! Remember that contact is the key.
Crowdfunding is another form of Cash Networking when you pitch yourself or idea to others in hopes of a donation. It can be very lucrative, though it comes with pit falls. People have been sued because they did not use the cash as intended. Donations can fall through, leaving you or your project short, and sometimes, hefty fees can be taken if your donations are higher than expected.
Just as a well-oiled machine will run forever, so will your Cash Networking campaign. Continue to follow through with each contact and keep everyone informed. If possible, when your project or business is ready, invite your Cash Networking Contacts to see what they helped you to develop.
Sample Cash Networking Proposal:
Cash Networking Proposal
Lone Star Bingo Hall
Statement of Need: The Lone Star Bingo Hall (Waco, Texas) would be a place for the Senior Citizens to interact with people of all ages, while having fun and eating a complimentary lunch or dinner.
Statement of Use: The Lone Star Bingo Hall project is 90% funded, and we have already secured a location, renovated the building, but we lack the funds to finish the kitchen, purchase food and other supplies for the Bingo Hall to operate properly.
Funding Statement: We require $5,000 in order to have Lone Star Bingo Hall ready for its grand opening in two months. Any assistance you can provide to us will be greatly appreciated by our staff and the senior citizens in the area that are waiting for Lone Star Bingo Hall to open.
Founder, Lone Star Bingo Hall
You can easily create Cash Networking Information Cards on your computer's word processor and print them on business card stock or post card paper. Carry them with you always and always pass them out.
Is a standard business card that contains:
The Company you work for or own
and E-mail address