You're wasting your time if you're networking with
strangers. I recently heard from a consultant buddy who said, "I'm doing
2-3 networking events a week and I'm exhausted." When I questioned why she
thought networking was so important, she said, "One of my marketing goals
is to attend at least one networking event per week." (I pointed out that
she had just admitted to doing 2-3 times per week, and that maybe doing 1 time
per week is a better aim, and that doing triple that goal is creating some of the
weariness.) However, there's a lot more to the classic American business myth
of networking than meets the eye.
Myth 1: The more networking you do, the more effective your
networking becomes.
Truth 1: It's far more vital to become well-known in a small
number of circles than it is to distribute your networking efforts across a
large number of organizations. Depth always wins out over breadth.
I then inquired about her networking experience. I don't
think I've received a smidgeon of business out of it in the last six months,
she added. Her justification for networking: Everyone knows that networking is
how you establish a business! Do you understand what I'm saying? Or, even
worse, does it ring a bell?
Check to see if you've experienced the following networking
scenario:
For 30 seconds, you meet someone. As you tune them out, they
murmur something about real estate. When they inquire what you do for a living,
you tell them you work in insurance. You both head to the celery sticks for
lack of anything better to do after 10 seconds of staring blankly at each
other.
Myth 2: Networking with cocktails and little wieners is the
way to go.
Truth 2: Building a business through networking with
strangers is about as productive as getting married in a bar. It simply ain't
going to happen that way, as Dr. Phil puts it.
You won't meet your business soul mate at a networking event
for the following reasons:
1) You will not do business with someone after seeing them
for a few minutes and receiving a card that is poorly printed.
2) Relationships, not 30-second advertising, are the
foundation of any business, no matter how effective or entertaining they may
be.
3) Most of us have a hard time explaining what we do, let
alone going past it and listening for what prospects require.
4) Networking with strangers is not focused or specific, but
rather random. For some people, networking is just as effective as cold
phoning, the least effective marketing strategy available.
So, am I implying that networking is pointless? Certainly
not. What I mean is that you need to start networking more effectively.
Here are a few ideas to get your mind going:
* Network by having one-on-one coffee or lunch meetings with
people. Learn about them and their company. They could be a lead, an alliance
partner, or a referral source. But first and foremost, make a friend of them.
The rest will take care of itself.
* If you're going to network with strangers, set aside time
for 2-3 lunch or coffee dates with folks that intrigue you.
* Request one referral from each satisfied customer (they're
all pleased, right?) for someone who could be interested in your type of goods
or services, then call and mention their name. (Hello, my name is Fred, and
Ginger suggested I call you.) Isn't Ginger fantastic?) Ginger, you already have
one thing in common!
* Make a network hit list of the specific types of firms you
want to connect with, such as if you sell software and want to meet IT
administrators at medium-sized businesses. Make a list and keep it in a small
black book or a PDA. Concentrate your networking and outreach efforts.
* Participate in non-business organizations and activities
such as civic, social, religious, recreational, musical, athletic, and so on.
Make friends with the other members of your team. Maybe you're a Moose who also
happens to be a real estate agent. A Moose wants to buy a house from another
Moose, as it turns out. If that's the case, you've cornered the Moose Market!
Do you enjoy drumming with your hands? Let me tell you something. A
hand-drummer will seek out other hand-drummers to make business with. Do you
follow me here?
* If you go to a mixer, have a specific objective for
yourself. For example, your objective may be to meet three persons on my target
list and obtain their contact information so that I can contact them for breakfast,
lunch, coffee, or badminton. A conventional networking gathering has devolved
into little more than the initial step.
Finally, here's something to consider to spice up your
networking mindset: Individuals who already know you, like you, or have done
business with you are the best people to network with.
Myth 3: Networking is all about spreading the word about
what you do.
Truth 3: Networking is all about getting individuals who
already know you to share possibilities for mutual benefit.
Make two to three phone calls every day to reconnect with
people from previous employment, clients, or significant persons who have
previously indicated interest in you.
We all have a fan following that we underutilize to a large
extent.
Consider reaching out to friends, coworkers, mentors, and
relatives to tap into the relationships you already have.
So get out there and network, but be cautious.
