Networking is a means of having discussions with prospective customers, suppliers and advisers. It is based on an understanding of reciprocity and the sharing of information. Networking groups have been established in most parts of the UK to create a more formal method for meeting people with similar commercial interests.
1. Prepare
Have you considered who you wish to meet through networking and what you want to achieve? Are you networking to find a new supplier? For advice from people in similar businesses? To find a trading partner? Or to sell your products/services?
2. Find your networks
There are numerous networking clubs. Spend some time getting information and comments on the different types of event. You have to look for one that suits your needs. Some clubs are more formal and require you to do a presentation and make a number of referrals. Others simply put you in a room of strangers and leave you to it. Whatever the format, each one demands a different approach and you might join several groups initially.
3. Practicalities
Have you got enough business cards? Take a few brochures with you for those people who would like to know more about your business. Why not write a summary (A4 and not many sentences) and print it on your PC?
4. Prepare for the meeting
Most networking groups will send you the list of participants expected to attend your meeting. Do some research on the people and companies. Then you can find openers for conversation, the key players from your point of view and some idea of the interests of other contributors. The Internet is an important tool.
5. Get there early
Arrive early. Then you can arrange some of your brochures, collect your name badge and be ready to introduce yourself as people arrive. And keep an eye on your targets!
6. Don't be shy
There is no room for shyness at networks. You are there to talk to people. Bite the bullet and introduce yourself.
7. Listen
Where possible, let your fellow networkers pitch their businesses first. This allows you to listen and understand how, and if, you could work together.
8. Keep it short
Can you summarise what your business does in two minutes? Practice this. Do not bore your counterparts with ramblings. Additionally, you have a few people to meet in one session.
9. Notes
Make short notes on your conversations as soon as possible after the meeting. Keep a record of the people you meet through networking, and the outcomes. You can then decide whether it is good for you. Buy an album for business cards.
10. Follow-up
Be sure to follow-up your new contacts quickly. A short and pleasant email or note is a good start. A telephone call can work wonders. And always deliver on promises.
About the Author
Len Collinson has been the FPB's National Chairman since 2002. He is a founder and a director of Collinson Grant Group, the firm of international management consultants, and has investments in three other companies.
