Friday, 25 June 2010

Networking for beginners

Paul Johnstone ©  

  • Are you a small business owner? 
  • Or you may run a home based business?  
  • It could be you're just starting out and you need to make contacts.   



Whatever your reason for networking, it takes self confidence to walk into a room full of strangers.

Lets be honest you don't know anyone, you may feel unsure of yourself, often under prepared and you're about to turn round and walk out when a friendly looking person approaches, with their hand extended.

But the good news it that’s the hardest part over.  You are normally met at a network group by some one someone placed strategically by the door.  They should welcome you to the event.  If they know a visitor is a newbie a good network group will go out of their way to help you be at ease with the group.  

Lets be honest they want you to return and just about all B2B groups want return visitors.
One of the first questions you will be asked if "How can I help you?" and they mean it! They want to know who you want to talk to, who would you like to be introduced to?

So do a little homework before hand. Who are you looking for introductions to? If you're a florist you may want to link up with a wedding planer, or a photographer. Usually when you ask specifically that’s what you get, a specific introduction requirement for success - showing up.

Networking - The Planning

Do you have a networking strategy?  It's quite likely that you'll have a business plan, a financial forecast and probably a marketing plan, so why not a business networking plan?
In today’s financially stretched market, networking is seen as a great way of generating new business leads.

Think about this situation; you regularly attend a pay on the door often at a cost of £15 per visit.  Now to get a return on your investment (ROI) is relatively easy.   Now multiply it by the other 3 ad hoc events.   Then add in the annual subscription to the breakfast club you're committed to and suddenly you have a significant outgoing cost.

How do you decide which events are worth attending?

OK you’ve planned where to go and what to say so how do you decide if it’s the place to be?  You look at your ROI.

I measure my ROI on a simple basis.   Which event brings the highest return?

Over the years one fact has held up time after time.  Interestingly you may think that the group with most people would bring the highest returns.  I can honestly say that has never been the case.   It is always the group where there are more synergies, or the groups ethos is to help others.   So beware playing the numbers game.

In terms of time invested but let's be honest, we network to generate new business. But no one is going to buy your product at the first meeting.   If they do it could be a bonus, but it may be the group want one of you and have decided to hook you with a quick order.
It's after the event that the important part takes place - following up and those 1 to 1's. That's where the true value lies.

It's at those 1 to 1's that decisions are made, based on the relationship you've created. People buy from people, and networking is a way of making the connections that you wouldn't otherwise have made.

The other point is that networking works once trust based relationships are forged.  And these don’t happen overnight.  So when you're considering an event, make sure you can attend regularly, again with the emphasis on building trust.

Decisions Decisons!

Are the people in the room the decision makers in their business? Or are they the leading influencers? Do you need to speak directly to the MD? How often should you attend? If it's ad-hoc networking then we would suggest 3 times to get a real feel and understanding for the leads generated. A structured weekly breakfast meeting may suit you and will generate more business. This kind of event builds long-term relationships but may come with its own stipulations.

Track all the events you attend and review them at least quarterly. If they are taking too much time and money with little return you need to discontinue your membership. Be ruthless, as the time and money you save can be re-invested in more beneficial activities.
But enjoy meeting people and growing your business at the same time.

Helping Real People do Real Business Through Real Networking

Saturday, 19 June 2010

Rules for Successful Networking

Paul Johnstone ©
I recently read the Rules for my local golf club. You may imagine how strict their rules are. At the door, you have to show your ID, sign a rules and regulations agreement, all the usual stuff.  All guaranteed to guide behaviour and set a tone of respectability.

When networking at a business meeting or event, wouldn't it be great if everyone around you knew what they should and shouldn't be doing?  How great would that be if everyone that attended association events, Networking Groups, Business event, B2B club, chamber events, conferences, and cocktail parties had to read, understand, and sign off on the Networking Rules and Regulations?

By accepting a behavioural pattern we fit into our surroundings.   We'd also do a ton more business with the right approach.  Without knowing the rules, it's no wonder so many sales people and business owners are fearful and uncomfortable when it comes to swinging into the event.

You will always get the best out of your business networking events if you know what is expected of you.   This can be difficult if you are new to business networking groups. More so if you are a start up taking your initial steps into the B2B market place

Below are some networking Rules and Regulations that might make the list. Swim at your own risk.

Dress for success (no flip flops or singlet’s).

Determine ahead of time if the event requires business, casual, or very casual attire. There's enough on your mind—why let your appearance be something else to worry about?

Take business cards, a pen.

It amazes me how many people at business functions don't have a business card with them. Business cards breed business and seasoned pros know that. Or they should.

Know who you will be playing a round with.
Do you know who rounds out the guest list? Have you determined ahead of time if your prospects, clients, referral sources, colleagues, associates, counterparts, competitors, or advocates will be in attendance?

Networking only; no selling allowed
Repeat after me—networking, networking meeting. Selling, sales meeting. Got it? Networking and selling are two completely different techniques.

Be prepared to ask questions—about other people.
Know what questions you will ask those you'll be meeting. It's the best way to start a conversation, learn about other professions and industries, and attract people to you. If you're authentic, genuine, and a little lucky, you may be asked questions. Imagine that!

Greet and introduce others with passion.
I love introducing people I know to other people I know. It helps provide an easy connection for others, I'm helping the cause, and I feel pretty good about myself. What can be better than that?

If there is a connection, ask for their business card.
Don't be shy. If you've spent time with a quality contact and you're interested in continuing the conversation at a later date, ask for their business card. They might just ask you for yours. How else are you going to re-connect?

Hand out your business card (when asked).
I only hand out my card when asked. It seems rude to offer a business card to someone who may not want it. If they wanted it, they would ask.

Use your Call to Action—when asked.
Know what your purpose is and only share it when asked. If you don't know or can't share your purpose, it will be difficult making solid business connections.

Spend more time listening and less time talking (especially right after eating).
We spend way too much time thinking about what we'll say next rather than listening to others. If we listen and learn, we may have something more worthwhile to say.

Know when the conversation is over and mingle with others.
Once the chat is over, say your goodbyes and ask for a card. That is, if it's worth chatting again. If not, say your goodbyes and offer them an opportunity to meet others.

You must make a friend (or two) and have fun!
Once you meet a few great people and get the breathing down, you will be much more comfortable in the deep end and it could even be fun! Heck, you may even get some business out of it.

Do what your mum told you never to do, Use the F word – Follow Up
In golf a swing is only as good as the follow through.  In networking a connection is only as good as the follow up.  And the more networking you do the more follow up’s you need to do..

Of course, there are plenty more. This is a good start and a nice way to … get your feet wet. Establish these Rules and Regulations as your standard and help provide a safe and enjoyable golfing (networking) experience for all! Thanks for your cooperation.


Helping Real People do Real Business Through Real Networking

Monday, 7 June 2010

Getting business quickly

How to win Quick Business in the networking jungle

Paul Johnstone ©


The great thing about success through networking is it gives you wonderful opportunities to work with other people you would not normally meet.  You never know who you may talk to at your Network event, business event or social you have opportunities.

The issue here is many people don’t quite get the balance between business and social. At a B2B event or regular network meeting, people expect you to talk about your business. So how do you transfer this at a business social?

Stuck for words, full of yourself, or cautious, I have been all these over time. Well the truth is you need to direct a conversation. You don’t go into full on sales mode, which will guarantee you a cold shoulder.

The technique is straightforward. During the conversation you will be asked what you do. Now how you answer this will have an immediate effect, and should get the other person asking you questions. Now you have the opportunity to tell your story. And what’s more they will ask you for the details.

At this stage I will say that when you are asked the age old question “What do you do?” If you say, Bank Manager, IFA, Marketer, please don’t expect to be killed in the rush for your business card.

It really does not matter what you do, the result is more often than not the same.

Why is that?

It’s because you answered the question incorrectly.

The question was “what do you do?” and you answered with what you are!

We all do it, it’s natural and it’s been with us since we started work, I’m a plumber, I’m an insurance broker, I’m a sales manager.    All these tell people your status, when all they wanted to know was how you could help them.

Once you get the habit of telling people in a short 2 – 4 second phrase what you do. You will get them to ask you more questions.

Then use one of your practiced ‘elevator pitches’ 

An elevator pitch is so named after an opportunity to present to the client of your dreams in an elevator between floors. One of the most important things a businessperson can do - is learn how to speak about their business to others. Being able to sum up unique aspects of your service or product in a way that excites others should be a fundamental skill. Yet many business people pay little attention to the continuing development of "the elevator pitch"—the quick, succinct summation of what your company makes or does.

Get this right and you should find closing for a cup of coffee meeting a stroll. It’s that that the hard work you put into thinking about what to say when you meet strangers, or your dram client, delivers business to you.

And the secret to all this new business - is a phrase used by Vince Lombardi:-

“Practice alone doesn’t make perfect. It's Perfect practice that makes perfect” 

So work out in advance what you want to say, practice it and you will never let an opportunity pass you by. No more foot in the door, just a conversation you have prepared for.

Helping Real People do Real Business Through Real Networking