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What is Networking?
Networking - such an intriguing word. The dictionary defines it as "To interact or engage in informal communication with others for mutual assistance or support." Is that what you mean when you talk about networking?
While I think that's a fair definition, I prefer to network in a more formal way, with purpose, direction and goals. We often get caught in the trap of thinking that just by talking with someone - regardless of the setting or conversation - and mentioning what we do for a living that is networking. I don't believe that's true.
Here are some ways that people traditionally do business networking:
- Attend trade shows and talk to as many people as possible.
- Have a booth at a trade show and talk to as many people as possible.
- Join the Chamber of Commerce/Rotary/Lions, etc. and attend some events.
- Attend profession-related events with people who do what you do for a living.
Do these look familiar? How successful have these methods been for you? Have you received much business from them?
Why do you think they haven't worked at bringing you new business?
My answer is because business is all about relationships, and you can't have a relationship with someone by exchanging business cards. Relationships are built over time, and by showing people that you can be trusted to do a good job.
Have you ever lost business because you were "out-relationshipped"? The prospect has a best friend in your business, or they have been with the same person forever and can't imagine changing vendors. The best way to get new business is to make the most of your existing relationships and to work at building new ones.
You already know everyone you will ever need to know. Why? Because for every person you know, they know, at minimum, 250 other people. The key to networking is to leverage your existing relationships and get introduced to all of those other people.
Here are 5 strategies for building and leveraging strong relationships:
- Do what you say you are going to do, when you say you are going to do it. In this fast paced world we live in it's more important than ever to get things done within your client's timeframe. If you master this one little thing you will build the trust and confidence required to have a successful business.
- Join a "hard contact" networking group. A group such as BNI-Business Network Int'l * where talking about business is not only encouraged, but required! Successful groups meet once a week where members learn about each other's businesses and how to refer business within the group.
- Ask for the referral!
- At the end of each phone conversation ask the person if they know anyone who would needs your services.
- At the end of every email, invoice, business letter, on your business cards - remind people that you want referrals.
- Meet with your "key 5". These should be people who trust you, like you, are willing to refer you, and are well-respected and connected in the business world. Tell them what you are doing and ask them to introduce you to their "key 5". If you can, arrange a face-to-face meeting with the three of you for the most effective introduction.
Note: If they hesitate to introduce you, ask them why. It might be painful but it's better to know if you are doing something wrong than to not know. If, for example, they say that you don't follow-up like you should, make it a point to fix this relationship by always doing what you say you will do. Prove to them that you can be trusted and they will refer you.
- Have a purpose, a direction and a goal when you attend any event. Here is an example for a photographer who is attending a business trade show:
- Purpose - To get more projects shooting products.
- Direction - To meet someone in the marketing industry that chooses the photographer for the advertisements.
- Goal - Find three people that are decision maker or can introduce you to the decision maker in the marketing company.
- Follow up after the meeting. Have you ever come back from an event with a stack of 20-30-50 business cards? If you meet only three people it is easy to follow up. Call, drop them a card, even email is a way to keep in touch. Set up a meeting with each of them so you can get to know them better.
Concentrate on those relationships that are working and can bring you more business. Ask for the referral. Do what you say you will do. That is successful, profitable networking!
Beth Anderson
Plum Creek Associates
www.plum-creek.com
Editor's Note: Beth Anderson has helped countless people develop their networking skills, has conducted numerous classes on networking, and has been a key influence in the growth of the Business Network International organization in Minnesota.
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* There are many other successful networking organizations in Minnesota. Please visit our Organizations page to learn more!
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