Yes, that’s what I meant. Of course, the more popular slogan is, “the fortune is in the follow-up” and there’s truth to that. But when it comes to networking the fortune is also in the fact finding.
Sometimes, people are so eager to meet new contacts and business connections that they do not do their due diligence.
What do I mean?
If you have been working hard to establish your brand and your reputation as a business owner, you should guard that brand carefully. Sure most people think about this when it comes to how they brand themselves online, in the media, or on their websites.
But, who you bring to your network affects your brand as well.
Imagine, meeting someone at a business function. You exchange business cards. You exchange emails once or twice. Maybe even a quick visit to the new contact’s website. Impressive.
So, you consider working with this new contact on a project. After all, the company website is impressive and the business card and email signature reflect professionalism.
The project is underway. Things are going well. Until you get a call from a long time friend.
“I saw the press release about this new partnership you have with XYZ Company. How long have you known the president,” he asks.
“Oh we met three months ago and I am so excited we are working together. How do you know him?”
“Well, my law firm represented a group of companies who sued him. I cannot disclose details, but if you do a Google search, I know you can find lots of information,” he adds.
You do the Google search. Pages and pages of complaints is what you find about this new contact. There’s information about how the person reinvents himself and reestablishes a new company to cover his tracks. It was all there. Only you did not do any fact finding. Now what? Crisis management!
Could this really happen?
Does this really happen?
YES. It happens all the time. It does not, however, have to happen to you.
Save yourself time, money, and possible regret. As you build your network, fact find for peace of mind.
