Archive for July, 2011

Business Networking Doesn’t Work For Everyone Or Does It?

July 31st, 2011

Have you ever spoken to someone in business who says “Oh yes – I tried networking once and it didn’t work for me.”

Over my years in business and having attending hundreds of networking events, I’ve heard this or a similar phrase many, many times. I’ve also been told that business networking doesn’t work for everyone and for a while I reflected on this point to see if I agree and actually, I don’t.

Now if you put it another way and say “not everyone who does business networking makes it work” then that is another matter. Also, “not all types of business networking events work in the same way for everyone” I can agree with that as well.

Whatever your business or profession, networking at some level can and will have a positive impact on you and your business, especially when you do it well.

Over my last 7 years in business, I have been an active member of a business referral group and I have seen numerous members come and go. Frequently I see people in the same business or profession who achieve very contrasting results from their networking activity. Why is this?

I’ve seen business owners leave declaring that networking is rubbish and a waste of time and then someone else has joined to replace them and they get so much business that they happily declare that the group has been their absolutely best source of business and they wish they had joined years earlier.

The difference isn’t their business or necessarily their professional competence. It is however their attitude. The successful Networkers are the ones who commit to and embrace the qualities and values of the group. They focus on helping others first and trust that they will be helped in return. They build trust and respect and because they regularly attend the meetings and support the group and its members, including at social events, they become well-known and definitely well-liked by their colleagues and associates.

When you start with a great positive attitude and add to that tried, tested and proven skills and techniques of rapport building, etiquette and personal communication among others, you dramatically improve your personal effectiveness.

In terms of not all networking events working in the same way for everyone, it really is important to find groups that you feel comfortable in. Networking is a powerful and highly effective way to generate referral business, wherever you do it.

Networking isn’t a quick fix to generate immediate extra business and sales when you suddenly realise that your orders have stopped coming in. Networking isn’t a hard sell ‘close the deal’ approach to business.

Networking is a slower process for cultivating trust and nurturing contacts and connections. Networking is highly effective at generating strong personal and business relationships that will deliver long-term repeat business on recommendation and referral.

Whatever your business is, having other people tell people they know about you and being happy to refer others to you, is a benefit that will leverage your own time and resources. When you add value for and help the people you meet, many of them will help you in turn.

If however, your focus is on a quick return, ‘a fast buck’, what’s in it for me approach, networking will not deliver what you are looking for.

Tony Altham is Business Networking Coach, Trainer and Professional Speaker who specializes in teaching entrepreneurs and professionals how to build powerful relationships that generate long-term profitable business via referral and recommendation.

Planning Your Networking

July 30th, 2011

While you can network wherever there is an opportunity to speak to someone else, for business opportunities in particular, the best advice is to go to where the people you really want to meet will be and go to where the people who know the people you want to meet will be. Remember that time is precious and make each contact with another person you meet count. Respect and value your time and theirs.

It’s easy to attend Networking Events as networking has become such an important aspect of business that there are a great many to choose from. Whether you want to go to an informal, formal, social, educational, motivational, trade or profession related event, the opportunities to meet new people are boundless.

Long-term gain comes from cultivating long-term relationships, so joining a formal business group is an essential element of your Referral Business Strategy. Find the group that is right for you and work with your colleagues in the group you join, to achieve mutual benefit and success. Have patience and be happy and prepared to give help first and you will gain help later.

Remember, the general understanding is that 2 out of 3 people you help will in turn help you in the future, not to mention the other people who notice you helping them.

The key is remembering that your time (and theirs) is valuable and therefore needs to be used wisely by focusing on the right opportunities for you and your business. Commercial success comes from good and profitable Business not just Busyness.

Know with certainty what your objectives are and go to where your target customers and target contacts will be. You can and should also go to where people who can introduce you to your target customers will be.

Remember one connection that you make, follow up and nurture is worth more than a thousand business cards that you gather and never do anything with.

One example of this is that I attended a Breakfast Meeting and met just one new contact on my table who I’ll call Susan. Our business relationship has developed over time and Susan and I both now understand how we can genuinely help each other. I’ve helped by introducing people in my network who could be of benefit to Susan and by keeping her in mind when my other contacts and new people I meet need the services Susan’s organisation provides.

Less than 12 months after our first meeting, Susan opened the door for me to meet with and gain approval to supply members of a major buying consortium representing 500 UK businesses. I knew nothing about the organisation prior to the introduction and I certainly would have found it challenging to gain the opportunity to meet with them had Susan not introduced me to them with her strong personal recommendation. Incidentally, that consortium has now grown to have nearly 700 members and this number is still rising, daily.

The brilliant thing is that Susan didn’t just give me a name and telephone number, she personally spoke to the key decision maker in the consortium and opened the door for me to have an appointment.

I had my appointment about a week after Susan’s personal introduction and my company was immediately approved as a new supplier. About 4 days later our details were added to the consortium online network and emailed to all its members and 20 minutes after we were live on the system, we received our first enquiry.

Susan’s personal recommendation and introduction has had and continues to have a tremendous positive benefit to my company, particularly as the consortium is growing rapidly week on week. No expensive marketing was involved in gaining this opportunity, so the return on our mutual investment in time is immense.

Another excellent opportunity to meet people is to attend and sponsor charity and social functions and award dinners as they are a great way to make connections in a relaxed, social and friendly environment where easy conversation is the norm.

Key decision makers are often in attendance at these events, so you can make excellent contacts, remembering of course that they are there to have an enjoyable time and not to be sold to. Selling is off the menu!

Planning and structure

While you can network everywhere you meet people and all networking opportunities can be beneficial, one of the most effective ways to increase the potential benefits of the opportunities you uncover is to plan ahead. This is particularly relevant when you attend organised seminars, conferences and networking events.

Just turning up at an organised business networking event can sometimes result in a missed opportunity, especially when with just a little effort and preparation, you can achieve some really excellent results.

Where possible, take the time to check out the event before you go along to it. Find out who will be there, what is it about, why is it relevant to your target audience and of course, why is it relevant to you. Also, think how you can check out the delegate and exhibitor list and even the speakers, beforehand.

To be successful, always remember that you get what you focus on. When you know who you want to meet and how many people you want to meet, you remove chance and create opportunity.

For instance, before the event, you might email, call or write to a particular person you want to meet and let them know that you have seen them on the delegate list and would really value an opportunity to say hello. This way you show that you are interested in them, you are professional and you also set up the opportunity to meet when you get there.

Alternatively, if you don’t actually know the person or know what they look like, you can ask the event organisers to help by making the introduction.

Either way, you create the opportunity to meet them rather than taking a chance on possibly meeting by just turning up.

Where to network

You can literally network everywhere and all the time, although there are three main types of networking opportunity when meeting people in person.

Often the value and power of networking with colleagues within your own company or organisation is overlooked, however, this is a critical opportunity for building strong relationships and strengthening departmental and cross department/cross operational bonds.

All the same rules apply when it comes to building these relationships as if you are networking with new contacts beyond your existing company. Help first and be helped later. Understand how you can add value and add it.

Social/informal- school, college, university, work, parties, clubs, charity dinners i.e everywhere people gather socially and away from work or business.

Semi-formal- seminars, conferences, trade shows, Chamber of Commerce and trade association networking meetings

Formal- formal business networking groups and events set up specifically to connect people.

Add to these the ever growing online capabilities to link with people you don’t yet know and you can see how massive the opportunities to connect really are.

Goals and Objectives

Know what you want to achieve from an event. It’s not enough to say I’d like to make new contacts – be specific and decide that you want to make 5 new contacts and know which 5 contacts you would specifically like to meet if you are attending a formal networking event and why?

As you understand what is most important to these new contacts and how you can help them you can truly add value for them. This of course requires research, however, as this is where the big wins are you must make the time and take the time to do it.

Clarity and focus on your specific goals is like having a Satellite Navigation System that takes you to where you want to be via the shortest route possible and with the added benefit that it tells you when you are going off course as well as how to quickly get back on the route plan you need to follow to get to your destination in the least time.

Remember quality counts. A few high quality relationships are worth more than hundreds of acquaintances. Cultivate and invest your time in the right relationships and your networking success will follow.

Networking Skills for Entrepreneurs

July 30th, 2011

For many entrepreneurs, networking is one of the best parts of the job. They enjoy getting out and talking to other business owners, potential customers, and anyone else who happens to come along. For those with a decent set of people skills, it doesn’t take long to build a reputation for being friendly or interesting or funny or whatever. As long as you are putting forth the effort to be a master of networking, there are a few skills you can add to your repertoire to give you the final push to the head of the class.

Be the one who knows

One advantage of building a broad and deep rolodex (does anyone use those anymore?) is that you likely know at least one person, if not several, who can handle just about any type of situation. Pay attention to what your contacts know and add that data to your contact database. That way, anytime another of your contacts has an issue, you will be the one to have one or more possible solutions. Of course, only recommend contacts that you believe in – if you refer an important client to a drywaller who drinks on the job, that will reflect badly on you and your business too.

Be the one who comes through

The most important half of communication with your network contacts is listening. Pay attention to what others need and be the one who provides an answer first. Of course, you are not likely to memorize everything about everyone you meet, but keeping the data as discussed above will make it easy to find the answers others need. Keep a pen and paper with you during networking events and jot down notes of what others are concerned about, then take a few minutes to email a quick referral if you have one. When people ask you directly for information or a referral, be sure you get back to them within 24 hours.

Identify and nurture potential partnerships

Good business partnerships can range from joint ventures to simple symbiotic referral partners. Be thinking about how your business fits with others whenever you meet other business owners. Be careful not to jump into uncertain situations, do your due diligence before you make any deals. But always be looking for opportunities for a mutually beneficial relationship…and don’t be afraid to be the one to bring it up.

Don’t forget the basics

Set goals for each networking event, whether those goals are finding a solution to a particular problem, adding a certain number of names to your contact database, or simply nurturing existing relationships to some beneficial end. Always have your business cards on you and pass out two to every new contact – one to keep and one to pass on. Always be upbeat and positive – leave all personal AND business problems at the door. Dress appropriately and remember overdressed is better than underdressed. Spend some money on your ties, watches, and shoes…and pay attention to what your new contacts are wearing as well.

A business owner’s networking skills can make or break a growing business. Take the task seriously, but enjoy it as well.