The Art of Networking
Introduction
In today’s global community, networking is more imminent than ever before. The person you met on the bus this morning, may be able to put you into contact with someone overseas, who in turn could reduce costs and increase output of your business. Networking isn’t as mysterious or complicated as it seems. Have you ever asked a friend for a recommendation on a hairdresser or auto mechanic? Guess what, that’s networking! An important way to develop a Home Based Business is by networking. This helps build suppliers, customers and potential customers. It is vital to remember that….
- Networking is about making contacts, not sales.
You can ‘grow’ your business by building your network, but you must approach networking as a long-term investment, and plan your strategies accordingly. Results from networking do not occur over night. Often it is your initial network contact that offers the greatest reward via referrals.
And it seems like everyone wants to do it – from architects to engineers, bridal planners to pet minders, graphic artists to web designers.
The word “networking” is the new buzz word in business. We hear it used frequently, but how do you know if you are putting it into practice effectively.
What is Networking
Networking is a strategy that allows busy business people to make the right connections to take business to the next level. Networking events aim to link together potential clients, investors and vendors to help businesses grow.
In a time when marketing budgets are being cut to reduce operational costs, networking can generate more business and career opportunities than any advertising campaign could achieve. Networking is key to gaining word-of-mouth promotion, and we all know how influential that can be.
Have you ever heard the saying: “It’s not what you know, it’s who you know”, that’s the premise that networking is built on. Knowing the right people will help you move in the right circles. In other words, effective networking in which relationships are developed with people in strategic positions can yield productive results.
Types of Networking
There are many different types of networking, each with different and numerous events. These include:
- Networking functions: breakfasts, lunch, dinner
- Networking Groups: Business Enterprises, Women Groups, Community organised or church organised group events
- Networking on-line With so many options as to where to spend your time networking, here are some things you need to think about before you choose to go to an event:
- Are the people you will meet at a particular function the type of people you would form strategic alliances or a work relationship with? li>
- What do you want to achieve from attending
Planning to attend an event is only the first step. Preparing to maximize its potential opportunities is the next. So how do you go about doing that?
How to prepare for a Networking Event
Networking is a long term investment. Results from networking do not happen over night, so before you attend a networking event, plan ahead:
- Clarify what you want to achieve from attending. Is there a specific person you wish to meet, or are you simply looking to network with individuals in your industry to keep up to date with occurrences in the marketplace?
- Think about the type of acquaintances you want to make. Do not focus on future clients alone. Look at how you can develop your business through people who can offer you advice and assistance, such as PR or marketing consultants.
- Take plenty of business cards that clearly state your name, what you do and your contact details. What do you want to achieve from attending
Networking Tips
The following are suggestions for developing and organizing contacts to start you on your way to building deeper, more meaningful strategic alliances, partnerships, and mentors:
1. Preparation is Key. Stand out from the Crowd.
The saying goes: “never judge a book by its cover”. Unfortunately, the reality is the reverse, in the time it takes you to introduce yourself; the receiver has had the time to judge you.
Be prepared. Plan and watch your demeanor, attire, body language and conversation. Remember it’s not the quantity of the conversation, it’s the quality.
2. Expand your Knowledge Base.
Educating yourself as much as possible about information pertinent to your industry. You want to be able to speak like an expert about things in that industry or on a particular subject, not just on the surface level.
3. Make the Right Connection
Exchange your business cards as you introduce yourself. Confidence is a positive sign to the other person.
4. Be Prepared to Manage Relationships
Now that you have a box full of business cards from various networking sessions, you need to follow up the contacts you have made.
Try and put it into perspective, this is not a social gathering, it’s a business meeting. You have just spent time away from your business – your own time and money. You have met possible clients and now it is time to grab the opportunities that have been presented.
You will of course find some relationships more valuable than others, so you could order your contacts into groups according to the following factors: alignment with your goals and values, frequency of contact and type of opportunities that could be developed. This will allow you to focus the right amount of energy on the right people at the right time.
The inner circle would consist of regular active contacts. The outer circles would consist of those who lend occasional support--people who would provide useful information on occasion.
5. Examine your Movtives
Ask yourself: "Why do I want to get to know this person?".
It should be about providing a service to someone else. Tried and true networkers can attest to good deeds being reciprocated. Be honest about it, say, 'I want to build a partnership with you. This is how I can help you. This is how I will benefit you,'".
Many people make the mistake of looking at networking as a one sided coin – how will this help me? By doing this, opportunities are limited and you do not project an image of open partnership, rather selfish dictatorship.
6. Don't Try to Make a Sale
Never try to make a sale when networking. Remember your motives for attending were to make business contacts. If you talk about your business or try to force a sale, the other person immediately withdraws interest and you have lost what could have been a valuable alliance in the future.
7. Don't Fear Silence
If there is a pause in your conversation, it is nothing to worry about. Certainly do not jump in with trivial information.
If you are worried about conversation, prepare a few things to say that can break the ice. You could discuss a few current events, but if all else fails, ask the other person to talk about his or her self. “What do you like to do when you are not working?”.
Remember to make eye contact when you are talking to someone, look interested at all times.
8.Try Not to Over Commit
If you agree to send information after the event, be realistic and honest. If you have a busy week do not promise to send the information immediately, indicate that you are busy and you may take a few days to send or reply to information. This will ensure you maintain your credibility, and people do not feel that you make empty promises and assume that is how you do business as well.
9. Networking is Fun
Networking events are always lots of fun. Meeting new people, with similar lifestyles and interests is the foundation for a good time. Be positive and you will attract positive people in return, a great way to develop a strong network.
What to do After the Event - Follow Up:
While networking is easier said than done, try and put these suggestions into practice. Walking up to a stranger and starting up a conversation isn’t something most people would do on a daily basis.
A few tips...
- When you get home, write reminders on the back of the business cards you have received. For example write where and what the event was, points about the persons interests or partners name. People will be impressed when you ‘remember’ such details, and you never known how much influence the partner has when it comes time to make business decisions.
- Create an opportunity to meet again. You could ask them to send information about their business, or invite them to another networking event. This shows you enjoyed their company and are interested in what it is they have to offer.
- Don’t consider every person you meet to be a direct business contact. However, do not abuse the relationship, you never know who their friends are!
- Be genuine. Remember that you will receive more benefits if you view the relationship as long term and not a quick way to make more sales. Don’t loose your determination to make new contacts. At times a networking event may not be as fruitful as you may have hoped. While it is disappointing, keep in mind that it is not always about the people you meet and now know, its also about the people whom those people know. Be proactive. By networking different contacts together, if you make use of your database, it won’t be too long until people ask for your assistance, which allows you to ask them for a favour in return.
Stop Reading...Start Networking!
While networking is easier said than done, try and put these suggestions into practice. Walking up to a stranger and starting up a conversation isn’t something most people would do on a daily basis.
Remind yourself that everyone is there to meet new people and business contacts.