The importance of networking for a small business owner cannot be understated.
Whether it's meeting potential new customers at a business event or simply getting your face known in the local community, networking holds the key to making people aware of your company and its services, as well as giving you the opportunity to meet like-minded people who may be able to assist you with business development further down the road.
"With start-ups currently facing only a 50% chance of survival, good networking has become vital to the growth of new businesses," says Martin Davies, director of NRG Business Networks.
NRG Business Networks offers the following tips on how to network effectively:
Develop a plan
You need a destination for your life and business. You must
ask yourself the following to form the basis of your networking plan:
- What is my target market?
- What is my proposition?
- Who is likely to have access to my target market?
- How do I get to know them?
- How do I motivate them to introduce me to their network?
Don't expect early
results
Like anything worthwhile, networking takes time and application. Take the time
to develop relationships and create a network. Don't expect to walk into a room
of strangers and come away with business; it just doesn't work like that.
Build relationships
first
Networking is not about selling: it's about building
relationships. The best business is developed when both parties know, like and
trust each other. So take the time to get to know them and establish rapport.
Show a genuine
interest in other people
You can close more business in two months by becoming
interested in other people than you can in two years by trying to get people
interested in you. They will remember you for listening attentively to them. Be
prepared to talk to strangers and have an interesting story.
Prepare your opener
When asked "What do you do?" develop a quick and interesting
answer. Instead of saying "I'm an IFA", you could reply "I make sure that
people enjoy their retirement by not being short of money." Inevitably, you
will be asked how you do that.
Listen more than talk
There are three types of people; those who listen, those who talk and those who
are waiting to talk. Become an active listener and see how you can help people
you meet. By being aware of their needs you can connect them to people in your
network.
Ask open questions
People usually find the most interesting subject is themselves. Make it easy
for them to expand their answers rather than just replying with a ‘yes' or ‘no'. For example, "That's interesting, how do you
do that?"
Always follow up
contacts
When you meet someone at an event, follow up with a simple email or telephone
call confirming where you met and what action, if any, was agreed. Prompt
follow-ups are essential. Don't send unsolicited e-mails to people you have not
met; it can be viewed as cold-calling and can be really annoying.
Arrange contact
meetings
Once you've established rapport with someone you've met, how do you take things
forward? Simple, meet for a coffee and get to know them. What makes them tick,
what are their successes, aspirations, skills and experiences? What they are
looking for? Can you connect them to one of your contacts?
Develop networking advocates
A networking advocate goes out of their way to recommend your goods and
services without expecting anything in return. Go out of your way to connect
them to key members of your network and introduce them to people who might
benefit from their services. Become an advocate for them; people will
eventually become advocates for you. This is where the networking dividend
really pays out.
NRG Business Networks holds networking lunches in the south of England, the Midlands and London and runs ‘mastermind mentoring groups'. For further information visit www.nrg-networks.com [1]