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Business Networking - Why Do It?

Someone recently said 'networking is life itself' and on reflection it is.  Every single person in the world has been networking since they were 2 years old, when they started to have a conversation.  Prior to networking, the vogue word for the 21st century, it used to be called talking. There must be a number of definitions as to what networking is, the one we use is it's a process for simply building relationships.

Every other relationship we've ever built since those early days always has three key steps:

1. Get to know someone
2. Create some mutual liking or as importantly ensure there is no element of disliking
3. Build trust through following up and keeping in touch.

Attending Business Networking Events

When we attend business networking events and find new business opportunities, we call them the 'ahaa' moment. It's that moment when you've asked a good question, listen carefully and it makes you think 'ahaa there's an opportunity here' - the opportunities are endless. Here are the ones we've come up with, if you can add to them, tell us and we'll send you one of our networking skills products.

Where should you go networking?

The first place to consider is right next to you- i.e. internally. Get to know others in different departments. Learn their names, what they do, what they do at weekends, how you might be able to help them to make the company more successful. These are just 4 thoughts to help you widen your business thinking and make every day work far more varied and enjoyable. Attend internal events such as seminars and social events simply to get to know more people and become more visible.

 Externally you’re likely to attend events such as

  • Conferences and conventions
  • Seminars.
  • Exhibitions.
  • External training courses
  • Formal meetings with other agencies and institutions

Internal Selling

You may be in marketing, finance and accounting, I.T. an in-house lawyer, human resources general administration and research and development to name just a few support functions. The general thinking will be ‘I don’t need to even think about selling and marketing’. Oh yes you do; you are an internal supplier who provides services to your internal customers. Customers need to be sold to! You need to sell yourself and also your area of expertise and when you do people will use your services more. The converse will generally be true when you hide away!

The fundamental benefit of good internal networking is to ‘cut out the us and them’.

A valuable message for everyone working in larger organisations

"I recently joined the bank and realised that I was a secret! I work in the area of personal banking for the more affluent customer and thought I need to meet colleagues in the business and corporate divisions. So I made a concerted effort to start networking internally. As a result I have already built some really great connections who have already given me some great contacts. In addition, as networking is about giving first I am able to introduce them to the  small but growing contacts in my section of the bank.

In these particularly challenging times I believe it is as important, if not more important, to be building relationships internally as well as externally.”

Louise Clague, Premier Relationship Manager, HSBC BANK PLC

 

REASONS TO GO BUSINESS NETWORKING

GAINING AND SWAPPING KNOWLEDGE  
1. Source of new employees. 
2. Hear new ideas.  
3. Sharing problems.  
4.Develops ideas.  
5.Helps source better suppliers.
6.Generating ideas. 
7.Access to more expertise. 
8.Develops resource bank.   

MARKET INTELLIGENCE 
9.Get feedback on our services and reputation. 
10.Increase internal skills base. 
11.Insight into other environments.
12.Learning about the competition. 
13.Keep up to date with all sorts of info. 
14.Helps to understand the market place.
15. Finding ways to new markets.
16. So you understand what your marketplace wants.
17. Place to test new ideas.
18. Gives feedback from others.
19. Corrects people’s wrong perceptions.
20. Keeping abreast of trends.
21. Identify competition.
22. Finding out trends keeping up to date.
23. Confirms what you are doing is correct.  

NEW CONTACTS    
24. Introduction to useful people.    
25. Ability to increase prospects.    
26. Gets round gatekeepers.    
27. Opens doors more easily.    
28. It’s a numbers game.    
29. Gives you a shortcut to people you need to meet.    
30. Can help influence people.    
31. Guarantees a business opportunity.    
32. Stronger referrals from third parties.    
33. Identify key decision makers.    
34. More channels of opportunities.    
35. Numbers game.    
36. Creates new leads. 

EXISTING CONTACTS AND CLIENTS
37. Feeds new business.
38. Keeps existing clients sweet.
39. Feedback on our services.
40. Find out problems.
41. Shows interest.
42. Helps you understand client better.
43. Sell more services.
44. They are more likely to recommend.
45. Builds closer relationships.
46. More likely to buy more services. 

COMFORT 
47. It’s permanent.
48. When you move.
49. Provides independence.
50. Less need to move out of comfort zones.
51. You just never know!
52. Easier to sell a warm lead.
53. Increase better quality contacts.
54. Generally doesn’t come to you.
55. Makes your job easier.
56. Builds on self-confidence.
57. Less stressful as we know more people.
58. Opens doors easily. 

RAISES PROFILE 
59. Make sure you are known.
60. Builds brand awareness.
61. Raises your profile.
62. Simply being seen
63. Spread the word about our business.
64. Advertising ourselves.
65. Build trust.
66. Raises profile.
67. Differentiates yourself.
68. Helps getting known.
69. Self-promotion. 

SUNDRY BENEFITS 
70. Saves time and money.
71. More time efficient. 
72. Feeling more confidence when recommended to suppliers. 
73. Builds self-confidence & team confidence.

If the list above doesn't enthuse you to expand your network and your knowledge then we believe nothing will.

As we say in every presentation and training seminar, if you don't go you'll never know!


Business Networking Tips

For lots more information, tips, articles and ideas go to our business networking tips section. There's plenty there for you to digest and to help you become a better networker - business or social!

     
 

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