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"So You Think You Know About Networking?"

by Roy Sheppard

At a party, I was approached by a man whose opening words were "What would your wife live on if you were to die suddenly?" There are no prizes for guessing which industry he worked in! People like him give ‘networking’ a bad name. No doubt he’d thought (or had even been taught!) to sift suspects, prospects and customers quickly and efficiently. He almost certainly believed he was a good ‘networker’.

In my experience, a high proportion of business people do not fully utilise the people power of their existing and future network. Yet they are often the same people who are convinced they are good at networking. Are you? Or do you believe you are too busy to ‘make a career of schmoozing’ as it is so often dismissed?

This article is for you if;

  1. Networking and relationship building do not have a separate section in your business plan
  2. You have not identified and targeted the key ‘influencers’ within your industry sector
  3. When you attend business events, you tend to stick with people you already know
  4. You have difficulty locating the contact details for people you have met – perhaps you have a desk draw full of other people’s cards
  5. You have not identified sources of help for predictable business needs before you urgently need them
  6. You are sorry you didn’t keep in touch with past contacts who are now in positions of power
  7. You don’t carry business cards with you everywhere you go or
  8. You don’t bother going to ‘networking events’ because you "never get any business out of them anyway".

You need a key employee. You need a substantial loan. You need up to date information about a major competitor. When you are well-connected, you always know who to call. A large and diverse network will save you money, time and increase your sales. Just, imagine the power of this if all your colleagues did the same.

A couple of years ago I commissioned detailed research into how 400 consultants and solo entrepreneurs attracted business. 97% of those questioned stated that most of their business came from referrals – the least expensive and easiest business to attract. At a conference where my talk was aimed at facilitating better internal networking for a large global consultancy, the partners accepted how essential their business systems were to the success of the company. When asked "How do you gain most of your clients?" the answer was "Through the people we build relationships with." "If that’s the case, why is it there is no company system for this?" I asked. Silence.

Companies that lack a systematic approach are demoting networking to the status of a random variable - a self-propelled force capable of producing positive and negative outcomes. Without a strategy for building business relationships, the growth of your enterprise will be stunted unnecessarily.

So, do you and your team need to get out more?

Effective networking requires a pro-active approach to meeting new people and is the first stage towards becoming better known, liked, trusted and valued in order to create an environment in which more people will choose to engage your services or recommend you or your company to the people they know.

The most effective networkers are "givers". If you want more quality referrals – offer more. Become more valuable to others by freely giving favours, business leads, testimonials and helpful ideas. Well connected people establish themselves as facilitators and ‘matchmakers’. At the end of a networking event they judge their success not on how many cards they have given out but how many they have collected and the potential relationships they have created. Collecting people and re-connecting with them is the cornerstone of any successful networker. They find a multitude of reasons to re-connect; sending handwritten notes, newspaper clippings of possible interest and valuable news and information.

Meeting someone new, distinguished networkers ask themselves "How useful is this person to my entire network". A poor networker asks "What can this person do for me?" The interesting point is: good networkers not only build an admirable reputation, they benefit more than those who take the more self-centred approach. For some, this may require a leap of faith – but every good networker will confirm the old maxim 'what goes around comes around’ is absolutely true.

To increase the number of referrals you receive – simply offer more high quality referrals to others. In order to do this, you need to know more about your customers. What business are they looking for? Ask them to clearly articulate who they are looking for as customers. How would you know if someone you meet could be someone they would be interested in doing business with. Become the eyes and ears of your clients and contacts.

What are your customers’ problems, fears and anxieties? Who do you know within your network who can offer high quality solutions to those problems? Ask everyone you know about what they need.

Offer to contact people on their behalf. This is good for two reasons – you are seen to offer more help and it’s a great way to contact a member of your network with some good news.

Ask yourself these questions;

In order for someone to refer business to you, members of your network need to know in detail exactly who your most likely customers will be. No one understands your business as well as you do, don't assume everyone else knows who you want to meet. Be specific. Think about it. How do you want those people to describe you and your services? Gently educate them to say what you want them to say. Another benefit when receiving referrals Is the fact that you don't have to go through the proving stage because that's already been done for you. You begin the relationship at a higher level of trust and confidence. So long as you offer a good service, you need never be short of customers when you are proactive about seeking referrals and recommendations from satisfied customers.

The Do’s and Don’ts of Networking

Do

Don’t

There’s a lot more to networking than many people think. And I believe that who you and your colleagues know, determines what your company becomes. So, if you want to grow your business – get out more!

 

Roy Sheppard has produced a step-by-step audio course on how to build a profitable network of contacts through networking and referrals.  Called Roy Sheppard's Network to Win it can be ordered safely and securely on-line. This is what people say about the material.

"Not only was Roy’s networking presentation excellent, it made a significant impact on the whole way we approached our business contacts. We used the systematic approach during Spring this year that has already brought us new strategic partnerships, inspired new products and improved our business prospects." Tina Mason, CEO, Business Excellence Training

"...an excellent evening…participants gave the event a very high rating both for enjoyment and education. I was delighted that the session struck exactly the right balance with what was a difficult audience having a wide range of experience and combining both internal and external attendees." Marc Gillespie, Partner, Arthur Andersen, England

"After 19 years in the conference business this talk is the only one I have seen which provides tangible results by the end of the conference. By getting people talking, you can see business coming out of the event." Geoff Leon, Presentations Director, AVE Presentations,

Which of these would you like the most?

If your work involves building relationships with people - you need this. The ideas packed into this programme will turbo- charge your professional and social success.

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