Strategic Networking For Business Success

By Joe Love

Whether you’re a one person consultant or the owner of a business your success depends on establishing relationships that can lead to business. The best way to build new relationships is through strategic networking.

Networking can sometimes lead directly to new business but most of the time it indirectly leads to referrals. For example, the person whom you meet at a networking event will know someone else who needs your products or services. Many people go to a networking event hoping to do business immediately, but it rarely works that way.

Business is rarely done directly at a networking event; your goal in going to a networking event should be to make two or three solid new contacts, find a reason to follow-up and then start a relationship. Any future business will most likely come from an indirect referral where the contact you’ve made knows someone who needs your products or services.

Networking is all about making the necessary contacts and building upon them by talking to people about what you do and who you are. It is also about listening to see how you can assist other people in what they do. Giving as much or more than you receive is an important part of successful networking.

One of the most important unwritten rules of business is that people buy from people they like, know and trust. This is very true in networking. The contacts you make and relationships you establish through networking that lead to business only happen when the relationship is mutually beneficial. Networking is all about giving and receiving. For example, if one party does all the giving, then the relationship will not last and the networking is over.

You should target your networking events with the same type of research you do when you’re establishing your target market. In other words you need to strategically choose the networking events that leverage and manage your time to the optimum. For example, if you rely on decision makers for business, then, you need to attend networking events where decision makers will be in attendance.

Choosing the right networking event depends on what your goals are. If your goal is to continue and further already existing relationships then going to a social networking function such as an after-hours chamber of commerce affair where you will know a lot of people is a good function to attend. On the other hand if your goal is to make new business contacts it would not be.

Once you’ve chosen the right networking event to attend your goal shouldn’t be to pass out as many business cards as you can, rather, your goal should be to receive as many business cards as you can. Remember, networking is about obtaining information and making new contacts that will lead to increased business. Then, after the networking event you can set up a follow-up visit and meet one-on-one with your new contact. The people whom you want to target at networking events are those businesses that have the same types of prospects and the same common interests that you do; firms or businesses that compliment your products and services. For example, if you’re a photographer, then, someone who is a wedding planner or a caterer would be a good contact for you.

The key to success in relationship building is being interested and to trying to be interesting. You want to show a genuine interest in the other person, in his or her business, family, and goals. Actively listening to the other person is much more important than giving your sales pitch. Many times when you actively listen, you will pick up signals about business potential, such as a problem that the other person is having that you are in a position to solve.

The key to networking success is follow-up. You must follow-up with your new contact by sending a note, card, or email immediately after the event to set up a meeting over coffee, lunch or even after hours. When you send the note or talk to the person highlight key points of your initial contact. The more personal the better, it could be something he she told you about their son or daughter or a sporting event he or she was interested in.

Networking is one of the strongest business tools that you can use, but you have to do it right. When you plan and set clear and realistic goals for your networking it will be on target. The key is, attending a networking function without expecting to get an order or business at the function, but just to make contacts and then follow-up. When you can do this your networking will result in finding new markets, expanding product lines and consistently flowing income.

Copyright©2007 by Joe Love and JLM & Associates, Inc. All rights reserved worldwide.

Joe Love draws on his 25 years of experience helping both individuals and companies build their businesses, increase profits, and success coaching programs. He is the founder and CEO of JLM & Associates, a consulting and training organization, specializing in career coach training. Through his seminars and lectures, Joe Love addresses thousands of men and women each year, including the executives and staffs of many businesses around the world, on the subjects of leadership, achievement, goals, strategic business planning, and marketing. Joe is the author of three books, Starting Your Own Business, Finding Your Purpose In Life, and The Guerrilla Marketing Workbook.

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