I'm building my network!" If this sounds like an IT Techie adding more links to a computer system, you may have missed the boat in small business. The network of other business people you know, and who have a personal link to you, may mean the difference between life and death in your enterprise! Some small business owners think that pressing the flesh at networking meetings held by the Chamber of Commerce, or weekly Rotary meetings or the annual small business bunfest are a waste of time. If this describes you, it's time to give your networking strategy, at least, a good polish....and maybe a total overhaul!
Networking is not just creating a pool of contacts but also acquiring a basket of information that can assist you in many ways: improve the quality of your service or enhance the design of your product, get leads to customers and contracts and even lead to partnerships for new services. In many businesses, you are who you know.
Once you look at networking as an effective business tool, you will be able to make your presence at virtually every social or business event you attend very strategic to your business. In fact, just the right approach will be leaving your competition wondering how you got those contracts they never even heard about.
To put the "work" back into networking, here are some steps to a more effective approach:
STEP 2:
Give and get information and think about applications of your product and service. Be prepared. You are always a scout in the business world! Others are not usually interested in the intricacies of your business or how masterful a manager you think you are. They want to know how you can help them. Listen, listen, listen, and look like you're listening, not eyes wandering around or waving at the next group! You cannot listen with your mouth open. Then, you can plug in some options that she can look at which your company can deliver. Or just say: "Listen...I think we've got some ideas you might find useful. Can I pop over and see you next week?" You win, at the same time, as you gather information on the issues faced by companies in your industry that you can directly address when you market to them.
STEP 3:
Evaluate the contacts. After each networking event, go over the contacts you have established and get the top five in your list whom you decide would be worth creating relationships with. The ones who can help you and you can help would be in this list. Also those who are truly interested in helping others solve a problem. They will be worth adding to your personal network. Make notes on each person you met. Share contacts with others, too, and you become a source for networking information as well.
STEP 4:
Know your contacts very well. Once you have the list, get all the information you can on the persons in your list. Take the time to understand their business and know their background. Know the people they hang out with and places they frequent. Children? Schools? Car? Neighborhood?
STEP 5:
Establish strategic alliances. Once you know the people in your list, start establishing links. Strengthen these links each chance you get in meetings, shows or conferences, even accidental meetings in shopping malls or theatres. Start giving them updates about your company. Ask to meet with them. Even if you are in competing businesses, there are many things you can share in areas such as management, market assessment, supplier valuations and recommendations, industry lobby and other legal and labor issues and concerns. As you start building these alliances, you will realize how both of you can strengthen each other's business.
STEP 6:
Maintain your network. While it is important that you practice effective time management and thus focus on your priority list, take time to strengthen your links with people who are already part of your inner circle. Even if people are not useful to you at the moment, check in on them once in a while. If you seem genuinely interested, good things will happen. Down the road, they might be the ones who will save you and your business. Even when you are disappointed, never burn your bridges. You never know who will show up in your next sales meeting.In all of these, the most strategic tool you have is your own person. Develop a positive personality. Go into meetings with a positive attitude. Introduce options, ideas and solutions to any discussion. Share talking space so everyone gets a chance and smile encouragement when it's someone else's turn. Try to say positive things about your competition. Don't be loud. Turn OFF your mobile. Listen and learn and go on from there.
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