 Networking can be one of the most effective ways of marketing your business you will ever have. Think about it - nothing is more effective in winning new business than a word-of-mouth referral. And most of us are more likely to do business with someone we know and trust.
And yet, I talk to many business owners and managers who wonder if networking is all it's made out to be. They tell me they talk to lots of people at different networking meetings, but few if any ever make contact later.
The truth is, networking is more of a long-term effort, like establishing your brand. It requires a continued effort over time.
What is networking?
Networking comes in many forms - from simply keeping in touch with satisfied customers so they will be more likely to refer you to their friends, to involvement in local community groups like Rotary, to joining local business networking groups that are created specifically to help business owners establish new contacts.
But while it sounds easy - after all, it's just talking to people, isn't it? - you need a plan to get the most out of your networking activity. Before you simply jump into networking, there are three key things you need to do:
1. Determine your purpose. Are you looking for mentors, possible business partners, suppliers, clients, or staff? Or do you want to find out more about your competitors, or your industry?
2. Consider the profile of people you will ideally meet. How can you get in a room with them, or associates who can personally refer you?
3. Get clear about your required outcome from each networking function. How can you improve the odds of that outcome?
Once you're clear about your networking objectives, here are six networking tips to help you achieve them.
1. Choose your networking functions carefully.
Don't be afraid to interview networking organisations to make sure they will meet your needs. As with gyms, membership numbers are critical, but for the gym and the gym-goer, joining is not enough. There has to be an individual's end result in mind, a programme to suit, equipment available and an environment that keeps a growing number of members in willing attendance. So check out, for example: 2. Prepare for each meeting.
Make sure you have business cards ready, together with a good 'elevator pitch' so you can explain your business succinctly and make it sound interesting and useful to the new people you will meet. Some networks allow you to do presentations, whilst for others you may just need a few comments on hand so you can discuss what's interesting in your business at the moment.
3. Stay focused.
Don't be afraid to 'screen' the contacts you may make at networking functions. Networking can involve a considerable investment of your own time, so be selective and focused. After all, you're there for a specific purpose. Not everyone you meet will be in a position to help you achieve your objectives, so focus on building 'win-win' relationships that have the potential to add value to both businesses.
4. Get out of your comfort zone.
If you're not particularly gregarious by nature, it's tempting to spend time with people you may already know or feel comfortable with. But that won't help you make new contacts who could help your business. Keep your business objective in mind, be prepared to move out of your comfort zone and be assertive.
5. Listen.
When you're at a networking function, remember that listening to other people talk about their businesses is just as important as talking about your own. By listening to others talk about their problems and issues, you may be able to find ways that your business can help solve those problems. You may also discover ways in which you could work in partnership with other businesses to offer a better proposition to your joint customers.
6. Stay in contact.
Keep track of the contacts you make (maybe a database or just a simple card file), so you can continue to keep in touch with your network on an ongoing basis. Your business network is no different from your customers - they can't buy your products or services unless they know what you have to offer. So keep in contact and let them know, in appropriate ways, what you've been up to in your business.
In summing up, if you've been 'junk' networking and are frustrated by the lack of results, don't give up just yet. Consider your purpose, choose events and organisations carefully, do what you can to improve the odds of success, then relax and enjoy the difference that such focus make.
Networking tips have been provided in conjunction with Sarah Trotman, a director of Sarah Trotman Ltd and former Chief Executive of Business in the Community, a free business mentoring
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