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Networking for Developing your Business and Getting Sales
Most people recognize that in business it's not just about what you know - it's who you know.
Anyone who's run a business knows it can be lonely at the top. Continually grappling with issues that impact the future of your team members and company is neither easy nor glamorous. However, help is available.
Networking may not offer structured programs, but the contacts you develop may connect you with business peers facing similar challenges who can give you the chance to test your ideas and resolve issues.
There are numerous options for experiencing the benefits of belonging to interest groups, roundtable think tanks or industry associations.
By having a commitment to constantly improving your network of contacts you can expect benefits such as gaining access to an informal “board” of advisers offering years of business experience, developing valuable business relationships, exchanging your management skills and ideas with peers and picking up hints on avoiding business roadblocks and common mistakes.
The importance of networking and how it is put into effect depends somewhat on whether you operate in the business-to-business sector compared to the business-to-consumer arena.
In business-to-business, networking is more likely to lead directly to sales and positive word-of-mouth promotion. If you are a marketing consultant networking among small business people who are all potential clients, every contact represents potential new business.
In the business-to-consumer sector, networking is more important for support and guidance regarding business issues. A local gym owner networking within his local Chamber of Commerce may pick up an occasional new member, but is more likely to find his networking valuable for gaining insights into such things as local government business policies or local business conditions.
There are industry associations that coordinate more formal discussions where participants set their own agenda so that they get the information they need and the advice they want. Some groups prefer open and informal discussions while others select a specific issue to talk about. Recurring hot topics of interest include personnel issues, health care costs, technology challenges, managing growth, and marketing and investment strategies.
Guidelines for effective networking include the following:
Have a genuine liking for people
Good networkers are normally people who like reaching out to other people. It is important to have an interest in others and be willing to learn about their business, their industry and the challenges they face.
Get into groups that make up your target market
If you are a marketing consultant, getting involved in a local kindergarten group will probably not be of great value, whereas joining a local branch of Rotary where the members are all traders and managers may be very useful. The groups you choose to be in (keeping in mind that most business owners or managers can’t afford the time to be in more than two or three groups) need to be lively, vibrant and relevant to you.
Contribute to these groups in practical ways
If you are in a group solely for what you can get out of it, it will become obvious and unappealing to other members. You need to contribute in some way, show that you can get things done efficiently and become an active member of the group. After that, you just have to let it happen. Worthwhile networking will take place in its own time.
Go out of your way to help
When you are talking with individuals, and the occasion arises, offer to help. On a particular occasion, the conversation may turn to problems with printing services. If you happen to know a local printer who gives you outstanding service, offer to provide his contact details. It’s a small act on your part, but it can mean much to someone else.
Follow up
When you meet someone whom you want to develop a relationship with for the first time, follow up soon afterwards. Meet for a coffee or forward a relevant newspaper article that may interest them. Similarly, if you offer to provide information, be sure to follow up. Being reliable and becoming known as reliable is an essential ingredient when developing a network.