System Selling: Networking

Networking is key in generating business opportunities and is an important strategy that, if laid out properly, will get you in front of a number of people in a reasonably short period of time.

While talking to people about networking I’m constantly stressing that it needs to be a 2 way street. I find that in today’s society people are more inclined to be a bit more self serving. If you want to receive referrals you should warm-up to the idea of giving them.

The key aspects of effective networking are:

o   Game Plan: requires researching potential business categories and specific groups

§  Research: you need to be able to gather information on your prospect in all aspects.

§  Objectives & Goals: having a strategy in place in which you can picture what your end result will look like.

·         Example: deciding how many contacts you would like to make at a certain event or over the next month through various means.

o   Perseverance: simply making sure you stick to your game plan.

o   Follow-up: is key because the lack of it seems to be the root cause of why people fail to attract a reliable pool of networked contacts.

Perfecting these key aspects allow you to be well connected in your field of business. The next step is tackling the various networking mediums that are in today’s marketplace. Some of these forms include:

o   Organized networking groups: attending one that meets on a regular basis

o   Business networking: can be in person + using email as a tool for communication.

o   Social media: technology driven, cost effective and requires regular maintenance

o   Trade associations: joining one that has a connection to your business

o   Trade shows

o   Forming core groups with complimentary businesses

§  Example: a realtor, a mortgage broker, a title agency, etc.

Keeping up with connections made through these forms is highly important when trying to build your networking base. Having a strong pool of contacts allows you to generate business for not only yourself but the other people you’re connected with. Making the situation a win-win for all parties involved. In essence, Networking is all about making connections, discovering possibilities, extending connections and developing relationships.

There will be a continuation of networking in next weeks blog update!