As a business coach I do a lot of networking and meeting new business owners, both online and offline. So it is always interesting to me to see how business owners approach their networking function and to see what system they have in place to leverage the opportunities that networking creates for more real business sales.
I’m fascinated to see the number who pay little or no attention to networking at all and I suspect many do not quite realise that it can be a powerful tool for their business to gain entry into circles of influence, from which in the normal course of events, they would be forever locked-out.
I was ruminating over this and the idea that people sometimes – without realising it perhaps – ‘bite the hand that feeds them’.
As I thought about it, it occurred to me that many may not fully understand the dynamics and the potential that is at their feet – so they don’t understand the loss they sustain through their own inattention.
If you are networking (or you are not networking) then it is worth understanding fully the situation as it exists in a well-organised networking process. That process, which can encompass many different formal and informal networking situations, is yours to create.
So let’s look at this a little more closely.
WHY IS NETWORKING IMPORTANT?
Networking is important because it gives you access to new businesses and new people who know about things that you don’t! They know about their specialty experience in areas different from yours, and they know people you don’t know. That means that they can be in possession of information about plans and intentions of people who are important to you and your business – who you don’t know!
That’s worth knowing.
HOW CAN NETWORKING HELP YOU?
Aside from the obvious – ‘get more business referrals’ – there are some powerful secondary benefits. To me, these can sometimes be even more important. These other benefits can include:
1. Learn about things that are not your core business but are important to know.
2. Access expertise of peers, in a variety of specialties, for when you need them.
3. Share and learn from the experiences of business owners in other sectors, whose ideas could be adaptable for your business.
4. Open the door to developing strategic partnerships; to leverage your opportunities to do more business at minimal cost.
LEARNING TO VALUE THE GIFT
When you get smarter (by learning from others) or are invited to events, or decide to share what you know – you are being hand-fed opportunities that would not happen in any other way. This is of high value and needs to be seen for the gift that it is.
- See the gift.
- Make something positive with it.
- But most importantly… recognise the hand that is feeding you such opportunities. Make your hand the one that brings opportunities to others in your network.
Have you recognised gifts like these that you’ve received in the past? Post your examples and comments – and let’s see what opportunity it might bring!
{ 2 comments… read them below or add one }
I feel I do understand the value of networking, but I think the real connections that can really make an impact are hard to find. Or not so much they are hard to find but they come along only once in a while – and guess that’s why you do need to get out there and do as much networking as you can, so you don’t miss those rare and sopecial connections when they pop up.
The one thing I don’t really like about networking (of the traditional face-to-face type) is how it often feels like these networking groups are hounding you to join the second you launch a business just so they get numbers.
I think the organisers have nothing but good intention, but it just ends up being overcrowded events where everyone’s desperately trying to get their monies worth by spruiking their business, and no one’s really getting a good sense of what anyone else does.
I particularly dislike these networking groups based on a race for referrals. I’d rather do “natural networking”. Wouldn’t you rather someone referred your business because they legitimately thought it was a good one that could help someone else – as opposed to being referred to go see three people just because someone in your networking group had to fill their monthly quota for referring other members?
I agree with you Isla. Those who turn into close associates that we work with well on an ongoing basis may be quite scarce. As you say, recognising them is important, when they do show up. We should never take them for granted, and perhaps we should be mindful to BE someone like that.
Unfortunately being in a network doesn’t automatically make someone have good people skills, and some never seem to get beyond thinking networking is somehow about numbers. At large events with a lot of people, I find the most useful approach is to use the opportunity to ‘connect’ at some level with just a few, and then follow that up with a one-on-one meeting at a more relaxed venue. Spruiking and making a noise doesn’t mean that anyone is listening, and often the message sent by doing that is one that says “stay away from this lunatic”. Not good networking!
I’m not sure about quotas, but having a structure to the network allows for better focus and less opportunity to waste large amounts of time for no purpose. There are all kinds of ways that we can be of assistance to our network partners. Referrals are just one way. Opportunities arise as and when they will, but our job if we have one, is perhaps to notice them, not to force referrals to people who don’t really want to see anyone.