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Want More Results? Stop Pitching and Start Networking
by Lisa Butler, Director, Paragon Associates Pty Ltd. ©
Networking is a key strategy for growing your business. If you are successful at networking you can create opportunities to build relationships and identify potential business opportunities for yourself or others within your network. You can also reduce the time you spend formally marketing or selling your business, as the hard work is often done by people in your network.
Successful networkers know that the true nature of networking is developing and maintaining genuinely helpful relationships with others, with a focus on helping them not you. You should not be selling when you are networking!
The key points to remember are:
n Good networkers focus on building and maintaining genuinely helpful relationships with people.
n Networking helps you to develop and grow your business.
n Networking should be separate from selling. Recognise that networking is about building relationships, not pitching your services.
n Networking, if done well, makes business development easier.
Good networkers:
n Have a networking strategy, track their network and maintain regular contact with people in their network.
n Focus on helping others, rather than themselves.
n Are genuinely interested in other people and generate positive and memorable impressions.
n Interact well with people and develop warm and valuable relationships in a short space of time.
Networking is a skill which can be learned and it forms an important part of the successful business person’s tool kit. Networking can be easy and enjoyable if you know how.
What is networking?
Networking is ultimately about developing and nurturing genuine relationships with people you can help and who can help you. Many people confuse or associate networking with selling, and assume that is part of the sales process. It is important to recognise that when you are networking you should not be pitching or selling your services. Your focus is on developing relationships.
Of course, networking can be a precursor to selling, as it can create opportunities for you to develop relationships with prospective clients, or enhance existing client relationships which may lead to business development. Also, when you are in the process of selling to a potential buyer, you may network to enhance your relationships. Once again, you should separate the act of networking with pitching. One is about relationships, the other is about doing the deal.
It is interesting to note that people who are good at networking spend minimal (if any) time selling because their business grows by word of mouth.
Why should we do it?
The benefits of effective networking differ from person to person and depend on what you are trying to achieve.
Some benefits may include:
• profile building and business development
• client retention and growth
• information sharing, either internally or externally (for example, keeping up to date on an industry, organisation or people; sourcing external suppliers or providers of services; sourcing internal resources or creating relationships which may allow cross-selling internally)
• capability development (for example, learning about new products or techniques within your area of expertise)
• career development
• a multitude of personal benefits (including building new friendships, sourcing personal service providers, researching interests or hobbies).
For many businesses, a large proportion of incoming work will (or should) come directly or indirectly through word of mouth and relationships. You can give your business a competitive advantage by building good networks, as it makes it harder for outsiders to penetrate.
Who do you network with and where?
The way you approach networking will need to be flexible and responsive depending on who you are networking with and the environment you network in. People tend to network with a range of different people, including clients, prospective clients, advocates, friends and acquaintances.
The environment in which you network will be varied, and you need to adapt to suit. For instance, you may network:
• at formal networking gatherings (for example, client seminars, networking groups, conferences, or industry events)
• at informal meetings (for example, taking a client, prospective client or advocate to lunch or coffee)
• by ‘keeping in contact’ networking (for example, sending articles, putting people in contact with each other, making referrals, phone calls, gifts)
• anywhere, anytime, as long as you respect the event.
How can you do it?
Successful networkers are confident and comfortable with people. Sounds easy? For some of you it will be easy, for others not so easy. Effective networkers are all different and possess a range of skills and characteristics that they have individually developed to help them to be successful. The skills and characteristics of good networkers can be learned through observation, awareness of techniques and tools, practice and patience.
There are eight important techniques for effective networking:
n Creating a networking plan. You need to ensure that you are networking with the right people, in the right places and in the right way. Creating a networking plan can help you to be more focused in your approach. Set realistic objectives when you are networking and accept that networking is a long term proposition (so you can set realistic goals).
n Preparing to network. Would you go into battle without a strategy? Mindset is one of the most important aspects of preparation. What you say to yourself will create your destiny. Preparing also includes arming yourself with information (for example, who will be there, what do you know about them and their companies) and preparing yourself for battle (do you look the part?).
n Creating the right impression. People form impressions very quickly and the impression you make will impact significantly on your chances of success. Consider the impressions you want to create and then how you can create them.
n Developing the relationship. Start by building rapport, finding a connection with the other person and displaying a genuine interest in others and in helping them. You may need to adapt your approach and style to suit your audience.
n Managing interaction. The ability to ask good questions and listen makes you a good conversationalist. Be prepared to offer your own insights, experiences and ideas to make it interesting. Focus on looking for opportunities to help the other person - remember this is not about you, but about them.
n Observing networking etiquette. Introductions are important, as is the ability to move gracefully and politely between people. Making other people feel comfortable helps you to also feel more comfortable (empathy goes a long way). Be aware of gender differences when interacting.
n Keeping in touch. Look for the opportunity to keep in touch with the people you meet and follow up if you say you will.
n Managing your network. Access in-house tools, or create your own, to record details about the people in your network. Create systems to help you to maintain regular contact with people and to ensure that you do this in a relevant and appropriate manner.
Author: Lisa Butler
Business: Paragon Associates
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