Networking Doesn’t Work?

Would you like to come to my networking event? You are cordially invited to attend my networking event. Come meet and network with 50 – 80 local business people. I bet you receive an invitation such as this or one with a similar message at least once a week (if not more). Networking groups are popping up everywhere. Breakfast groups, lunch groups, dinner meetings, after hour socials, pick a time and there are 5 business events to attend every week. One could say that attending networking events could be a business all its own. So why do I hear over and over that networking is a big waste of time? I will agree with that not all groups/events are created equal. The main reason networking meetings don’t work is because People don’t know how to do it or they are doing it for the wrong reasons.

Networking is the conduit that leads to relationships. Strong relationships are the basis of our business and personal growth. Unfortunately, networking has become a buzz word, so for our purposes let’s call it relationship building. Relationship building, when done properly, is your best source for new business resources and education.

Successful Relationship building Strategies:

Networking and Sales are separate: Always walk into a business event with the understanding that you will never do business with anyone in the room. They aren't your customer.

Prizes are not awarded to the attendee who collects the most business cards: The intention of giving out your business card should serve as a reminder to follow up with that individual. The card is the tool to reconnect with that individual at a later date to learn more about their business, and build the relationship.

Plan your event: Spend some time reconnecting with old friends and new acquaintances. Also, make a point to mingle with the other guests that you haven’t met before. Most important is to come with a purpose. Let your peers know what you are looking to accomplish.
Some examples:
1. My bookkeeper just quit, I am looking for a referral to a bookkeeping service or a new hire.
2. Our company has just launched a new product; I am looking for ways to market this service.
3. My ideal customer has XX characteristics; I am looking for referrals to those individuals.
Please note the examples above are most effective once you have established some level of rapport.

Respect the name tag: Name tags can be a relationship builder or breaker. Name tags are intended to help identify who you are speaking with. Playing the name tag snub game can hurt your relationship building experience. Remember Networking and Sales are different. Initially, give everyone a chance to show you who they are.

Some example questions to ask:
1. Do you participate in any other organizations?
2. What other careers did you have?
3. Where did you grow up?
4. Do you have any hobbies?

Pay attention/ Listen: Many of us will give part of our attention to watching the door, or others in the room making sure we don’t miss anything. Being in the moment is crucial to successful relationship building. Pay attention to the person you are talking to NOW. Perhaps you will find out the ONE you were hoping to meet is standing right in front of you.
Be a resource: “It’s better to give than receive” this is a very trite, but true statement. When building relationships, a great way to build trust is to give something away.
1. Make an introduction
2. Help solve a problem
3. Share an experience
4. Follow up

Here is the tricky part, give without any reciprocal expectations. The word will get out, your integrity as a business owner and peer will speak volumes.

Affiliate yourself with a group that will meet your needs: This is one of the most crucial factors in successful relationship building. Enter the room as a peer ready to give and receive. Referrals are one piece of the relationship building process. Entrench yourself in your business organization. Become a part of the community, take a leadership role.

We have been building relationships since we were children. On the playground it helped us get invited to sit at the lunch table or invited to a game of hopscotch. Later these skills helped us form friendships and find romance. Today these skills help us enhance our careers.

Are You a Cool Kid? Or, Just Trying to be One?

A common frustration of small or micro business owners is that the larger firms won't do business with them. "Why won't they return my calls?" "If they just listen to me, they will know they need my product." The truth is the larger companies are referring to and giving small/micro businesses a chance. They are returning calls and they are listening to them. So why aren't they doing business with you? The answer is simple, you don't want to do business with them. You want their money and they know it.

Something strange happens to the small/micro business owner when they are face to face with their ideal prospect. They suddenly become babbling fools who can't handle the conversation.

Let's take a walk down memory lane, remember when you were in school? There were "the cool kids" and "the not so cool kids". You were either "a cool kid" or trying like hell to become one. The cool kids only accepted or respected those that were cool like they were. Was there a secret handshake that kept most of us out of the group? Yes, it was called confidence. The cool kids didn't strategize all night on how they were going to be accepted by the popular crowd. They just showed up and assumed they were one of them. They spoke to them as if they belonged.

As business owners we do the same things. Smaller companies are so caught up in wanting to be noticed by the bigger companies that when they finally get their chance to participate in "the cool kid group", they blow it!

· Try to impress them
· Send a friend over to talk to them first
· Act like a subordinate to show respect
· Trick them
· Assume they want or need whatever you are selling without asking the appropriate questions.
· Treat the prospect like a checkbook or transaction

These maneuvers didn't work on the playground and they don't in business.

People want to be treated like people and can sense when there is a perceived agenda. It's all about the attitude and level of confidence you display that truly gets you in with "the cool kids". Someone shouldn't buy from you to give you a chance or because you need the money. Show your customer the value in what you do by becoming a resource. Show your knowledge, ask questions to determine the need. I can read a brochure to find out the features and benefits.

Be sincere! One of the worst mistakes is to pretend to engage in activities, hobbies or interests of the person whose attention you wish to gain. If golf is a common interest, share your experience. Don't pretend that you enjoy golf if you have never been on a golf course. You will look foolish and the level of trust will diminish. It's ok to ask about hobbies or interests to find out more. The important thing is to be yourself, and not force the connection. You may discover that there is a common ground, or not.

Listen! It's about the relationship, not the transaction. By building the relationship you will gain their trust. They will tell you if they are going to buy, and when they plan to do so. If they aren't going to buy and they trust you, they may refer you to others they may want to buy.
Enter the conversation without any expectations, if you focus on making the sale, chances are you won't. Even worse, you may discover that a sale was made to someone you never wanted as a customer.

This is a long winded way of saying "You will gain your greatest results by being yourself." Think about the way you behave in your current relationships (Personal & Business). Why do they like you? Why do they do business with you?

Acting natural and confident is the crucial ingredient to creating long lasting business relationships with the customers you are interested in working with. Relationships/trust can't be rushed or forced, but can be nurtured and developed.