Face to face business networking has really expanded in the UK over recent years. I’m referring to local regular support groups for business people to attend. It has become a major industry with multiple networking groups opening up in most towns. Some are independent groups and many are part of national or international networking organisations.
It’s been said that part of success is about ‘turning up’ – well I think this presupposes you are ‘turning up’ to the right environment for your business. Some businesses are naturally well suited to local business networking and others aren’t.
Let’s examine the key elements of this activity so you can decide how appropriate attending a local networking group is for your business.
Expectation requirements
Networking succeeds on the basis of mutual benefit and the premise that if you give business to others they’ll be keen to give business to you. For quality business introductions a clear understanding of your business proposition by fellow members is essential.
The Types of businesses that tend to get the best return from networking have simple transactions and clearly defined products and services. For example, plumber, website developer, carpet cleaner, accountant, printer and such like all offering products and services easily understood in the marketplace.
Your fellow networking members need to understand enough about your business to recommend you to others with confidence. If your market proposition is complex it’s likely you’ll find local business networking much more challenging. This issue is compounded further if your business combines a lengthy buying cycle with large average order values. Small ongoing purchases work best for business networking because they represent lower risk.
It is one thing recommending your local plumber to service a boiler for a relatively small sum and it’s a completely different situation recommending a software developer for a complex project involving a major purchase.
Networking tips
If you decide business networking is right for you then here are a few key tips to maximise your success. You need to:
- Be prepared to attend regularly, build trust and guide fellow members regarding your ideal referral requirements
- Be prepared to give before you receive – business networking is not designed for a predatory or hunter approach
- Take a long-term view. Business networking is unlikely to be your fastest route to market
Complex businesses
For more complex business situations a different approach is required. For example, if you promote large infrequent purchases you want to be able to maximise your powers of positive influence and persuasion.
This can be achieved by creating an impact and demonstrating your expertise and specialist skills. Specialist consultancies and advisory based businesses are better suited to this approach. You can still use business networking although it needs to be more focused and selective such as arranging speaking slots. This is where you present topics within your specialist areas to a business audience in a group.
Make sure you give practical take-away value in your speech which adds credibility and demonstrates your expertise. During your talk you can offer a free report/top tips guide in exchange for business cards. This enables you to generate an enquiry list for follow up by email, phone and personal meeting.
Written by: Brian James.
Visit www.brianjamesgroup.com
