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Networking in a nutshell
Discover new inexpensive ways to expand your network and sniff out fresh opportunities.
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Related ProductsNetworking is a powerful tool and an integral part of business development and your professional development. Some people have the knack and are excellent networkers, whilst many of us find ourselves either cowering in the corner or just avoiding events because we don’t know how to approach or take advantage of them.
By learning the hard way, when starting up a new business a couple of years ago in a city where I had no contacts, I’ve realised that it’s not all hard work. With the right method it can be quite an enjoyable and rewarding experience. Below are some ideas which you can use to help you get the most out of your network.
What is networking?
As described in the Collins dictionary, a network is an interconnected group or system. Therefore networking is the process of using a network or interconnected group to your advantage.
Why network?
Networking gives you the opportunity to gain insights into other businesses and contacts, and increase your exposure and that of your business in an environment like no other. At a networking occasion you are presented with the opportunity to tap into a wealth of information and experience in one room, it’s just knowing how to do it and use it that’s the crucial part. A great asset of networking is that you never know what treasure is around the corner.
What types of groups?
There are networks across Australia for all types of interests such as professional development, developing your business or industry groups. A good place to start is on the Web. Here is a list of some groups:
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Each group has different networking opportunities including lunches, evening functions and seminars. Once you identify and register for the events make sure you put them in your Outlook diary.
If time allows for it become involved with a networking organisation as this will open up even more opportunities. Budget and time permitting, organise to be a guest speaker or a sponsor as this will greatly increase exposure for you and your business.
How to network
This is quite often perceived as the hardest step of the process, but here are some simple tools to help you jump this easy hurdle:
1. | Ensure you have enough business cards to hand out and make sure you swap cards; this one of the most important items you can take from the event. |
2. | Look professional and/or dress accordingly. |
3. | Set out objectives for the evening. Are you looking to build your contacts or are you after a certain type of contact, eg. new business, partner, investor etc? Action the objectives early, then you can generally mingle to increase overall exposure. |
4. | If you do not find it easy to start a conversation pick a couple of current news topics you can use; a quick scour of the day’s newspaper will help you with this. |
5. | Take a colleague or business associate if turning up to an event on your own seems daunting. Alternatively, it could be a good opportunity to take a new business contact. |
6. | Take a look around the room – if it’s a non-seated event look for opportunities which you can use to enter conversations. |
7. | Time management – don’t get stuck in one conversation. The room is full of ideas, therefore use the time wisely. Have a general rule of 15 minutes per contact. |
8. | Remember that everyone is there to network, so the person you are speaking to is also after knowledge and contacts. Think about what you can provide them. Even though you might not get an immediate return you might see potential in the future for a returned favour. |
9. | Don’t dismiss any opportunities – you never know where conversations might lead to. |
10. | Set up future meetings at the event – it’s much harder for them to reject you face-to-face. |
What to do with the contacts
So, what happens to all those business cards? Firstly you need to categorise them – new business, supplier, affiliate etc. You then need to enter them into the appropriate database which can be set up in Excel or Access. Your database should include information such as contact details, where you met the contact and any special interests or insights you might have gained during your conversation. You can make note of the additional information on the back of business cards when you have a break at the event to jog your memory.
Make sure that all ideas are written down in your database and that actions are documented straight away. Networking is mentally and physically draining so notes will ensure the benefits are not lost.
You then need to work out what to do with them – are there any immediate actions required? You might have promised to send a document to a contact, which by linking Outlook to your database you can send off via e-mail.
Reaping the benefits
The most important part of networking is ensuring you are able to learn and grow from the experience. Whether you come back with a stack of business cards or a list of new ideas the more you gain the better. By setting up some tools you can make sure you don’t miss any opportunities and what once might have seemed like the daunting process of networking becomes like second nature and an integral part of growing your business.
