Reciprocity: How to Build an Advisory Team for Networking

This blog is about Reciprocity, part 3 of my series on forming an advisory team for networking.  Reciprocity is about giving back to (compensating) team members in exchange for what you receive from them. 

A networking advisory board gives you knowledge, wisdom, contacts and skills.  In fact, the synergy of a good group is so powerful that it can shave years off of your network expansion efforts.  You’ll get more value than you can imagine—from new alliances and clients to increased exposure and requests for proposals.

Fear or Curiosity?

When I consult people on forming a team for networking—or any other purpose--fear comes up quickly when we talk about how to compensate group members.  Here are the two most common things I hear:

• Why would someone want to be on my team?  
• I cannot pay them; I have nothing to give. 

Asking yourself why someone would want to be on your team is valid if you’re coming from genuine curiosity rather than unwarranted fear.  In fact, you’ll need clear answers for this so you can explain it well to prospective team members.  However, most often this question comes from lack-based thinking.  If you don’t resolve this for yourself, you’ll postpone or even avoid asking others to join your team.  That means you’ll miss out on some very low hanging fruit in the form of unexpected contacts and focused, network-building brainstorming.

Expand Your Thinking

Most people have a limited view of reciprocity because often, we measure compensation in terms of money.  There’s nothing wrong with money!  In fact, if you have the means to compensate members financially, that’s great.  I have found that there are also many non-monetary ways to give back!   Here are just a few:

• Connections—Open your LinkedIn network and offer to make introductions; set up a coffee meeting with you, your team member and someone they'd like to meet.
• Your skills or experience—particularly those based on your interests and talents.  That can include writing; downloading music onto someone’s mobile device or computer; repairing their car; providing financial advice; leading a white water rafting adventure. 
• Things you can pass on to someone—tools; books, DVD’s; clothes; furniture.
• The gift of your time (or that of a friend or family member)—from haircuts to carpooling; counseling their teenager to taking a walk.

I’ve barely scratched the surface here!  I’ve come up with hundreds of ways to give back and my list keeps growing.  How about you?   What can you give back that you have time to give and passion for so you don’t end up feeling drained?  Since true reciprocity is built on giving and receiving in balance, it needs to be want-want:  you want to give it; they want to receive it.

For best practices on setting up reciprocal relationships and more ideas on how to give back, check out my Advisory Team Guide series at www.creatinganadvisoryboard.com.