Dr. Ivan Misner, one of the most prolific referral networkers on the planet, says that having a strong network and knowing how to make it work for you, is a great security blanket when the economy is shaky. And he says the New Year is the perfect time to remind yourself why.

Misner's a professor at Cal Poly University in Pomona, CA. He’s also the CEO of the world's largest referral networking organizations, BNI. So if there's anybody that knows things about massive groups of networked people, it's him.

According to Misner, business people who consistently give and receive referral business are better suited to endure poor business climates than those who don't.

"Why word of mouth marketing works to buffer a business in harder times is really common sense," Misner says, "but that doesn't mean everybody is good at it or involved in it. Fact is, when times are tough, referral marketing may be the only affordable way to go. And it is probably the most efficient."

Misner says that referral networking works because "givers gain," meaning that those who are willing and able to give good referrals are likely to receive them.

"Those who are proficient at getting others good business referrals," Misner explains, "even in the hard times, are likely to get referred themselves. It's a skill everybody should have."

Ed Hutchison is CEO and President of the North American Boxing Council (NABC.net). He works with pro athletes, trainers & managers at all levels. He writes daily on his personal website http://www.winrz.com - Winrz.com Home Page for Winners about self help, leadership and success.