Networking

Getting The Most Out of Business Networking

Networking is a lot of fun! Business networking is when a group of like minded business people gather and help each other. If you check, you will surely find a networking group in your area. The networking group can meet as often as they wish, as is convenient for the participants.

If you network well in the correct groups, and we will help you do this if we think it appropriate for your business, then much can be gained.  Objective Marketing obtains much business through this medium, so we can advise you from personal experience.

Business Networking is an inexpensive way of creating leads and referrals.  It takes some work and you must be prepared to meet lots of new people and present your proposition in an attractive and often quick way!

Regrettably, most people start with a networking group by looking for immediate gains…. that is, for favourable results for themselves. If this is what you are trying to achieve, you are networking for the wrong reasons and will stick out like a sore thumb.

Many people think that the size of a networking group makes the difference in networking. When groups start falling in size, members will say, “we have to build up our numbers.” Now, what numbers are they referring to? Is it the number of participants? I would rather belong to a networking group of two people who can help each other on a regular basis then have a large group of business people not following the recommendations on this page.

It is not the quantity, it is the quality
“I haven’t got any leads yet!” Well excuse me, have you given one, ever? Or, have you made a suggestion that might help a fellow member? Did you call anyone with a compliment and say, “Just wanted you to know, Jim, that your comments on the XYZ expansion was right on the money.” One must be willing to put in time waiting also. It might take a while before people feel comfortable with offering you a referral.

Networking groups will come and go. To get the most out of your networking experience, you need to build a relationship with people who you want to have contact with. Not all members will be able to help you, nor will you be able to help them. That doesn’t mean you should snub them! I still have strong relationships with my networking friends from groups that are long gone.

When networking, spend most of your time and effort on people who can help each other out, for the long term. That is right. This is a long term project. Countless times I have been to business networking events and have seen people actually run from person to person, with the expectations of first giving away their card and hoping to gather the other person’s. How can you possibly build a relationship with a person when your objective is to get out there, and collect cards? Some networking groups make a game out of it to see who can collect the most in a certain time. What a waste of business cards!

You will find that a highly effective networker will “work the net”. What I mean is that they will go into a function with a goal in mind. My usual goal when business networking is to have the expectation that I will “meet” and “understand” only three people per event. I know what kind of person that I can help and expect that this person will be able to do the same for me. A win/win situation is what I am talking about. The highly effective networker will take the time to cultivate a rapport.

After the business networking event is when the real work begins. After all, you are only at the networking event to meet and build rapport. Follow up ASAP. Now is the time to send a nice customised card, and call a few days after to arrange a time to meet for a coffee or to have lunch. That is when you can listen to the details of what your new “friend” requires. You might even have the chance to offer your goods and services, only after listening.

Finally, some of the networking groups like BNI and BRE and many others have a referral marketing system.  This means you are expected to pass referalls to other members of the group.  Then, there are other groups where this is not a prerequisite.  You have to choose which system is best for your personality and your business.

Here are some tips:

• Keep in mind that networking is about being genuine and authentic, building trust and relationships, and seeing how you can help others.
• Ask yourself what your goals are in participating in networking meetings so that you will pick groups that will help you get what you are looking for. Some meetings are based more on learning, making contacts, and/or volunteering rather than on strictly making business connections.
• Visit as many groups as possible that spark your interest. Notice the tone and attitude of the group. Do the people sound supportive of one another? Does the leadership appear competent? Many groups will allow you to visit two times before joining.
• Hold volunteer positions in organisations. This is a great way to stay visible and give back to groups that have helped you.
• Ask open-ended questions in networking conversations. This means questions that ask who, what, where, when, and how as opposed to those that can be answered with a simple yes or no. This form of questioning opens up the discussion and shows listeners that you are interested in them.
• Become known as a powerful resource for others. When you are known as a strong resource, people remember to turn to you for suggestions, ideas, names of other people, etc. This keeps you visible to them.
• Have a clear understanding of what you do and why, for whom, and what makes you doing it special or different from others doing the same thing. In order to get referrals, you must first have a clear understanding of what you do that you can easily articulate to others.
• Be able to articulate what you are looking for and how others may help you. Too often people in conversations ask, “How may I help you?” and no immediate answer comes to mind.
• Follow through quickly and efficiently on referrals you are given. When people give you referrals, your actions are a reflection on them. Respect and honor that and your referrals will grow.
• Call those you meet who may benefit from what you do and vice versa. Express that you enjoyed meeting them, and ask if you could get together and share ideas.