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The Hidden Power of Networking
Robert Warlow
Small Business Success
We all make
use of traditional forms of getting new business in – advertising, direct
mail, brochures etc but networking is one form of marketing which, has been
under-utilised. Until now that is. Small business owners are finally
beginning to under stand the power of networking and what it can do for
their sales figures.
But what is networking?
In its most basic form, it’s word-of-mouth
advertising but originated by you, not your customers. It involves taking
every opportunity to raise awareness of your product or service amongst the
people you meet. At a more sophisticated level, networking can be achieved
by taking advantage of the formal networking groups or events that have been
arranged purely with the idea of putting potential partners together.
Perhaps the most famous example of effective networking was the First
Tuesday group, which during the height of the dot-com era, was the primary
way of getting new business ideas across to the people with the dosh!
But how can you, as a small business owner,
become a more effective networker and take full advantage of the
opportunities presented? We are going to give you some key tips and ideas on
how to be a better networker.
What are the key advantages of
networking?
Networking has some very good advantages
over the traditional type of marketing:
-
It’s free! Talking to someone
costs nothing except your time
-
It’s targeted marketing in
that it’s likely the person you are talking to has a direct interest in your
product or service. Consider newspaper advertising, which will mostly be
read by people who have no interest in what you have to offer
-
It’s face-to-face marketing
unlike direct mail, adverts and telephone calls. You have the immediate
opportunity to establish rapport and get an understanding of the person’s
problems
-
You have the chance to mix
with business owners in other industries, which may open the door to new
opportunities you had not previously considered
-
It’s not only a way of
creating business but also a great way to solve problems and seek advice.
Why sweat over a solution when someone has probably already experienced and
solved the same problem? Ask and find out who can help you
Where to find a network
Finding a
place to network, where like minded business owners are present, is not that
difficult. Whilst you should be networking all the time – taking the
opportunity to promote yourself where ever you can – it’s more effective if
you can meet people who are there to do the same thing; you can get onto the
same wavelength that much quicker. Here are some possible networking
opportunities to think about:
-
Your local Chamber of Commerce
or business club - as well as hosting their normal meetings (which are great
networking opportunities anyway) they may hold regular networking sessions
which are dedicated to putting business people together
-
Business Link – with their
remit of helping local small businesses, some of them may already hold
network meetings where they bring together a batch of ‘new recruits’. Check
out the Business Link website for details of your nearest office and give
them a call (www.businesslink.org)
-
Trade Associations – your
industry may have an association which holds regular meetings. Whilst you
are dealing with businesses in the same line as you, so making it difficult
to get new business, you will still be able to find solutions to problems
and pick up new ideas. Who knows, if you establish good rapport with another
business, they may be happy to refer surplus work to you or tap into a
unique specialisation you may have?
-
Seminars – keep a look out for
seminars being run for small business owners. As well as being informative,
they are a great networking opportunity, especially over coffee and lunch
when you have the chance to start a conversation going along the lines of,
“How do you think you’re going to apply that point we learnt this morning in
your line of business?” In just this one question you will have found out
what business they are in and one of the problems they are currently facing.
If you’re lucky, you may be able to offer help as well – one extra sale!
-
Anywhere and everywhere –
remember to network all the time! Never miss an opportunity to tell people
what you do. You may only get a successful hit in one out of a hundred
contacts, but one sale may be enough to make it all worthwhile!
Where and when are meetings
likely to be held?
Formal networking events can be held over
breakfast, lunch and dinner. Breakfast sessions are popular because it
allows business owners to start the day on a positive note, leaving the
remainder of the day free for ‘business as usual’. However, how good are you
at holding a sensible conversation at 7 o’clock in the morning? If you don’t
look or sound your best in the early morning, then you had better find an
alternative!
The best networking events are where you are
free to ‘work the room’ and not be tied to a table with food being served.
Hotels and pubs are popular venues but if
you are attending events hosted by Business Link then you may find them held
at their offices.
What to prepare
As with any marketing promotion, any
networking should be thoroughly prepared for. Badly presented sales pitches
lead to lost sales; the same goes for networking. So what should you do
before attending a networking session?
Step 1: know your products and services
inside out. If you are only just starting out, make sure you are fully
briefed on all the in’s and out’s of your product.
Step 2: Write and rehearse an opening
statement to the question “What do you do?” This may sound an easy question
but try thinking an answer on the spot and at the same time making it some
good! Not so easy. Write a clear and concise statement, which encapsulates
everything about your business. Remember, this is your chance to impress!
Having decided on your opening line, rehearse, rehearse and rehearse. It has
to be word perfect and confident sounding.
Step 3: Make sure you have enough business
cards. You don’t want to scribble your number on the back of a napkin! Not
very professional.
Step 4: Double check the venue and time. You
don’t want to turn up late and miss any opportunities or appear to be
lacking in time management skills.
Step 5: Dress to impress. Make sure you are
neat and tidy – everything a successful small business owner should be.
Step 6: Leave your house/office in plenty of
time to make sure you don’t arrive totally stressed out
You’re off!
You have arrived at the venue and if this is
your first time, what are you likely to do? Find the nearest corner and pray
that someone doesn’t approach you! Networking, especially the first time,
can be nerve-wracking. It does take a degree of confidence but over time
this gets better.
© Robert Warlow
Small Business Success
www.smallbusinesssuccess.biz
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