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Networking Tips To Increase Your Business
Networking is vital to your business, use these tips to increase your customer base and develop alliances.
Many entrepreneurs wince at the thought of attending a networking event. After all, many business owners work long hours and don’t relish the idea of spending significant amounts of their free time in a crowded room full of people, chit chatting with strangers and attempting to sell to dismal prospects. While this notion of networking can be an actuality, entrepreneurs have learned the secrets of maximizing their time networking by knowing their value, having clear goals, using the buddy system and following up. Use these tips with your own network and become an entrepreneur.
Know Yourself - Before taking a step out of your door, you first need to know what your business value is and what makes it unique. Why would someone choose you over your competitors? Why would another business want to partner with you and refer their clients to you? Be specific. If you just say that you offer “great customer service” or “lower prices” or “supreme value,” you have said nothing that is memorable or that differentiates you from other businesses. However, offering 24-hour customer service or same-day delivery may be a key feature that sets you apart. You should be able to say who you are and what you do clearly in two to three strong sentences. Practice writing it down and reciting it in the car before you go in to a networking event.
Know Your Wants - Before you contact another business, you need to know what your goals and objectives are. What do you hope that this business can do for or with you? What kind of referral client are you looking for? Know your target market and be specific. Are you interested in men ages 35-55 that own trucks and earn over $40,000 per year? By pinpointing your target, you can cut out meaningless conversations and useless leads. Find other companies that are focused on your tight niche as well and team up with businesses that can give you the specific referral type for which you are looking.
Know What You Can Offer - When you are networking, be sure to pay it forward when you can. By putting other people in touch and helping them satisfy their own needs as either client or provider, you make yourself a valuable person to know and do business with. Connecting others is a way to position yourself as a person of value. When people recognize that you have something to give, they are more likely to think of you in the future.
Know a Partner - When it comes to networking, a tag team approach can maximize the value that you gain. We all know it’s easier to enter a room full of strangers with someone at your side, however as an entrepreneur, this is a task that must be done often in order to make new contacts and meet potential clients. While you must know how to work a room on your own, entrepreneurs find that making the rounds with a peer allows them to divide and conquer on the networking circuit. With a partner, you can talk each other up. It’s always more impressive when someone else says something about you instead of you talking about yourself. The key is not to get stuck talking to each other, but to fan out and meet potential clients that will benefit you and/or your partner.
Know When to Follow Up - After collecting business cards and meeting new prospects, follow up is extremely important. You should remind the people you met of your business and restate what you can do for them or with them or ask them to meet with you to discuss business synergies. You can also follow up with someone not based on business. You may want to have social meetings over coffee, breakfast or lunch and talk as people, if you felt a kindred connection. I suggest an element of your follow up be done the old-fashioned way - snail mail. However, if you’d like to set up a meeting sooner, pick up the phone or shoot them an email, but remember that everyone likes to receive a handwritten note in the mail. It shows that you took the time to remember them and it’s an extra gesture that will speak well of your character.
When you network, you’re looking for ways to meet new clients and to create strategic alliances. This will increase your business’ perceived capabilities and allow you to develop a referral network that will send clients to you and graciously accept clients from you, thus increasing your sphere of influence in your community. If you continue to network and use these tips, you’ll quickly discover that networking is the quickest path to your future success.