toynbee forceful: Guide to effective business networking

networking

If you want to grow your business contacts, be stimulated by fresh ideas and discover opportunities you had not previously considered, business networking could be what you need.

Networking events are often viewed with suspicion by those unfamiliar with them. It?s easy to assume these gatherings are packed with people trying to sell to one another over a meal or drinks.

While it?s true that some of those attending networking meetings are solely looking for business, the majority take a much broader approach. They want to meet people for a variety of reasons, including:

To find potential business partners
To meet experts on subjects that will be useful to them
To make informal contact with others in the same or similar businesses
To discover new ideas or opportunities

Here are our tips on how you can get more benefit from business networking.

As with everything you do in business, it?s important to know why you are doing it. When it comes to networking, the purpose of going to your first meetings could be as simple as ?to see what it?s like?.

Some networkers set themselves clear targets such as to talk to three new people or to give away a certain number of business cards.

Others are looking to make contact with people who have specific knowledge, such as a tax specialist or someone who understands a particular commercial process. While it?s possible to track experts down through the internet, some prefer a more personal approach.

2. Focus on two or three networks

When you look into the networks operating in your area you could quickly be overwhelmed by the number available. The most effective way to use them is to focus on a small number, learning how they work and what they offer. Over time, you could then choose to move on to others.

Decide what type of networks interest you. Some are very local; others are specifically for women in business. There are networks which meet weekly, monthly or more occasionally. Some have very structured meetings while others are very informal.

3. Develop a succinct description of what you offer

While those you meet at networking events will not want to be sold to, they will ask what you do. This is an opportunity to present your business, and the most effective way to do this is in terms of what it offers to customers.

It pays to plan ahead for answering questions about your business, particularly if it can be complicated to explain, or if it?s particularly common.

A good description will prompt the listener to ask more questions. If you describe yourself as an accountant or the owner of a printing firm, the listener will assume that they know what you do. But say something like ?I help firms to pay less tax? or ?my firm helps others to get noticed? and you?ll probably be asked for an explanation.

4. Be prepared to speak at events

Many networking meetings involve a short presentation from one of their members. It could be anything from two or three minutes to half an hour or so.

While these are not usually the right place to make a sales pitch, they give the speaker an opportunity to demonstrate their expertise in a specific area. A graphic designer might give tips on how to make a flyer more visually attractive, while a recruiter could give advice on interview technique.

Taking the opportunity to speak at events will raise the profile of both you and your business.

5. Measure the return on your investment

It?s important to understand the value that you get from networking. This could be as simple as having contact with other business owners, or as specific as measuring the level of income that your networking brings in.

How you choose to measure the return in investment is a personal choice. But it?s important to do it, because you are putting in time and probably some money. You want to be sure that your business networking is as effective as possible.

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