First and foremost ask yourself: Why have you collected thebusiness cards in the first place? Are you collecting businesscards just for the sake of it?

Are you exchanging cards, or just collecting their cards? Do youexchange cards with everyone you meet? What's your purpose?

Here are some of the reasons why people give you theircard

Some people you meet at events will give you their card simplybecause they're speaking with you. Others will look to meet youjust to hand you their card. Some will offer to exchange cards withthe intention of getting together for the infamous “coffeemeeting.”

Or some will see the value in collaboration and feel you canrefer one another. Some may even “like” you (not the Facebook typeof “like”) and want to learn more about you or from you. Some willwant to date you and use the business card as a starting point or“opening line” (it's true!).

Others will look to collect your card just to add you to theirnewsletter or blog. And yet others look at collecting a lot ofbusiness cards at events as a badge of honor. Of course, there arethose that don't know what to say or do when meeting someone forthe first time, so they ask for a business card hoping it will leadto an easy conversation.

What's your purpose when you deprive someone of theirbusiness card?

And how many business cards do you have sitting on your desk— right now — in a snarl of rubber bands? What do youplan on doing with them? Do they deserve to be in your rubber bandpile?

So many questions, so few answers.

There are only a handful of reasons why someone's business cardshould make it to your desk.

Continue reading…

1. To throw it in the trash.

Yep! You will meet people that will give you their card just forthe heck of it. It happens all the time. You find yourself chattingwith someone for a few minutes, they hand you their card, and thenthey're off like a switch.

Naturally, it would be rude to refuse to take their card or to“86 it” right there at the event or in front of them — imaginethe look on their face. Instead, their card makes it home or backto the office with you and before you can even remember who gave itto you, it should be tossed. No harm, no foul.

The card should never make it to your rubber band pile. If youfeel the need, you can send a quick “nice to meet you” e-mail, butthe reality is, if it was important, you would have written a noteon the card and your follow up would be much more substantial. Justdrop it in the shredder and move on.

2. To follow through on a promise to sendinformation.

A good reason to collect a business card is so you have theemail address or “snail mail” to send the info you promised. If youalready have their contact information, the card may simply serveas a reminder to follow through on your promise.

How many times have you met people that made promises to followup or follow through and they never did? Flake-ville. Don't letthat be you.

Collect their business card, ask for permission to scribble your“to do” and get it done the very next day. After making that“deposit” to the relationship, you may want to keep the card toreconnect and develop the relationship through a future call,meeting, or whatever. If not, just throw the card away (see No.1).

3. To become part of your mailing list.

Who doesn't have a blog or newsletter these days? If you're afinancial advisor or broker, no doubt your firm has a boiler plate,compliant-friendly version of a newsletter that everyone sends totheir mailing list whether they want it or not.

Anyway, don't let that be you. If you meet someone at an eventand you have a nice connection with them, ask if they're interestedin being added to your mailing list. (Hopefully, that's how you gotto be part of mine.)

If so, ask to exchange cards so you can add them to your list. Agood reason to follow up with them is to get their feedback aboutwhat they think of your newsletter, blog, or collateral and ask ifthey know of others that would find value in the information.

Then, let them make the offer to that other person by havingthem forward the newsletter to them. Then, repeat the process— rinse and repeat.

4. To make a valuable introduction.

A great reason to exchange cards is if you're speaking with anew contact and they would be a great connection for someonealready in your network. Having their business card would allow youto research their background further — for example theirwebsite, social media, etc. — so you can ensure that theintroduction you make is a valuable one.

5. To set up a meeting to learnsomething.

You can collect their business card to…

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  • Learn about how you can become their client or how they mightbecome yours.

  • Learn about something that would be of great value to you.

  • Or to teach something that would be of great value to them.

  • Learn more about one another's business or goals to determinehow you can develop your relationship and be of mutual benefit.

I wouldn't recommend setting up meetings with everyone you meet.This is worse than getting a business card from everyone youmeet.

Meetings take up a lot of time, can cost a lot of money, andcontribute to the consumption of a lot of caffeine. Frankly, mostnetworking meetings amount to nothing for a lot of reasons, so beprotective of your time and arrange face-to-face meetings thatcount.

It's always better to exchange cards rather than just offeringone or collecting their card. I find it's best to establish apotential collaboration up front, or what I call a “we thing”rather than a “me thing.” That's what networking is all about— a collaboration. Think: relationship.

Also, establish why you're exchanging cards in the first place.If there is no good reason, then there's no reason to make theoffer. Technically, your follow-up begins once you have their cardor they have yours in hand, provided it's for a good reason.Otherwise, what's the point?

Bottom line, set the right expectation by saying something like:“Let's exchange cards and I promise to reconnect with you tomorrowto coordinate a time to continue our conversation about how wemight refer one another business in our respective markets.”

And then make good on your promise.

How will those business cards you collect qualify for yourrubber band pile?

Related: How to successfully follow up withanyone