Networking–Does it pay?

This newsletter will focus on the benefits and possible pitfalls of networking. There are many different types of networking events to attend in an effort to meet other business people and market your business. Which one is right for you? Will it be a good return on investment? Consider your time as well as money in calculating your investment.

I can think of many networking events that I have attended, some of which I found to be very productive and others that I have found to be extremely unproductive. How can you have the best chance of going to the productive ones?

When evaluating a networking event, first find out what target market will be attending – is it your target market? By target market, consider both the people you may be able to help, but even more importantly potential referral partners – other businesses who have the same target market as you that may be able to refer business to you.

Then consider the number of attendees that are expected. Quantity is a consideration, but even if the event does not have a high number of attendees that does not mean you shouldn’t attend. If it is a small number of attendees, but all of your target market, it may be very worthwhile. You need to consider a couple other things.

What is the format? How much time of the networking event is spent on networking versus speakers? Are the speakers trying to sell something, or are they educational – perhaps they are a combination of both the selling and education variety. Be sure to find this information out before attending otherwise, you may get to it and be disappointed that it ended up being longer than anticipated, was mostly a sales pitch and there was very little networking time in proportion to the time they took of yours trying to sell you something. Don’t hesitate to ask for this information when being invited to a networking event. Remember, your time is valuable.

How much should networking events cost? Most usually cost between $10 and $20. Some may be a bit higher if of the educational variety. Be careful of those that require a high membership fee to be a part of their group, or require you to use their resources in exchange for promoting you. If you do decide to pay a high membership fee, make sure you are keeping track of the business you are getting as a result of that membership. Take a look at your ROI before renewing these types of memberships. Productive networking should not cost thousands of dollars.

In conclusion, evaluate your choices. There are many out there. Here are some good resources and networking groups I have found to be helpful.
www.thenetworkinggurus.com–produces a monthly newsletter listing many of the Denver Metro networking events.
www.newbci.com–is a networking group with a unique format that is very productive for marketing your business.

Five Easy Steps to Make Networking Work for You

By Dave Block and Victoria Munro

Step One – At the Event

If you’re going to spend time, energy and money to attend networking events, don’t stop there – capitalize on that investment. People do business with people they know, like and trust, and you can’t develop a relationship of trust in a brief two or three-minute encounter at a networking event. You can, however, make a plan to follow up with several individuals and get to know them better.

At the networking event, look for one to three people you would like to get to know better and set up second meetings with them.

Select Your New Friends Carefully!

Your time is valuable, so use it wisely. Be selective about who you choose to meet with a second time. You might consider:

Potential power partners –– You both work with the same type of clients. This allows you to very naturally put each other in touch with qualified prospects. It’s vital that you first understand the benefits you each offer potential clients.
People with whom you have a natural affinity – Those with whom you sense a “connection.” You share something in common and there is a spontaneous chemistry that draws you to enjoy and respect them. You may only discover this if you focus on the other person, ask questions and listen!
Those whom you can help, by providing services, products, information, connections, encouragement and support.

In addition, you may make some wonderful, life-long friends

Step Two – Set Up a Second Meeting

When you identify someone you’d like to follow up with, email him or her within 48 hours of the event, and request the opportunity to meet again. Email is better than a phone call because it doesn’t put them on the spot. It allows them to think about your request before responding.

In Your Email:

Remind them of who you are and where and when you met.
Let the person know that you enjoyed meeting them – perhaps mention what attracted you to them or impressed you about them.
State that you’d like to get to know them better and learn more about their business.
Propose several possible days and times that would work well for you.
Suggest some potential venues for the meeting:
- At their office
- At your office
- At a neutral site, perhaps a coffee shop half way between both of your offices.
Mention a timeframe for the meeting, so that they can efficiently plan it into their schedule – say 45 minutes, (unless you both choose to extend it).

Always be honest and open about why you would like to meet again. Act in a courteous and professional manner at all times.

Never be presumptuous. Don’t assume, but ask if this might be of interest to them.

Step Three – At the meeting

Express your appreciation to him or her for taking the time to meet.
Reiterate what initially impressed you about them.
Focus your attention on the other person and make them feel important.
Be a learner -- ask questions and listen carefully with sincere interest, noting anything you may have in common.
Resist the temptation to talk about yourself and what you do unless you’re asked.
Discuss and understand how you could perhaps be helpful to each other.
Make notes of anything you promise to send them or do for them.
Be respectful of their time and don’t allow the meeting to continue longer than you agreed. Thank them for their time.

Step Four – After the Meeting

Follow up immediately, thanking them for taking the time to get together. If you promised to send them information, or put them in touch with someone else, do so right away.
Make relevant notations in your contact management database software and, if appropriate, in your daily planner.

In light of what you have learned, decide if developing a friendship with this person will be mutually beneficial. Does this have the potential to truly be a win-win relationship? It’s ok if you don’t wish to pursue it any further; it simply may not be a fit right now.

When you would like to further develop a friendship, use their services yourself, if possible. Referring someone whose services you have personally experienced provides genuine credibility.

Step Five – Keep in Touch

Great friendships are typically built slowly and steadily. Use your contact management software to help you stay in touch, assist and support others, as you grow your business through networking that works for you.

In the next article, we’ll discuss the Golden Rule of Networking, how to effectively stay in touch with those you meet.
© 2005 Make-it-Fly, LLC

About the Authors Dave Block and Victoria Munro are co-founders of Make-it-Fly LLC, a company dedicated to creating success for small business owners through creatively-designed programs and tools. Dave is known as the “Master Networker” in the business community and loves sharing how to become a successful business owner by learning the art of networking. Victoria has started and run nine different businesses. To receive FREE business success articles, tips and sign up for their ezine, “In-Flight Refueling,” visit: www.make-it-fly.com

NOTE: You’re welcome to “reprint” this article online as long as it remains complete and unaltered (including the “about the authors” info at the end), and you send a copy of your reprint to info@make-it-fly.com.

Greater Englewood Chamber of Commerce Women in Business Program

On April 10, Victoria Munro will speak to the Greater Englewood Chamber of Commerce on “Three Powerful Pointers that Will Make Networking Work for You”

Tuesday, April 10, 7:30-9 a.m.
Englewood Recreation Center 1155 W. Oxford Ave.
$15 member/$20 non-member
RSVP: Call 303.789.4473

How You Look Speaks to Your Customers

In each issue of Marketing for Success we discuss the importance of earning good word of mouth advertising by delivering exceptional customer service. Each month we look at one new area where customer service can be improved.

This month the importance of having an appropriate appearance is the topic. Having an appropriate appearance in the professional work environment promotes good customer service.

Good physical appearance starts at home. Always go to work clean, groomed, teeth brushed and clothes pressed. If your company has a dress codes, follow it. Dress appropriately for the type of customers you call on. For example, If you are calling on executives of a company, you should probably wear a suit. However, maybe your customer works in a more casual environment, you wouldn’t want to overdress.

Some other common sense tips include:

Wearing too much jewelry can be distracting.
Be modest and tasteful in your attire.
Be careful with perfumes and colognes, so as not to be overwhelming your customer with heavy scents.
Cover up tattoos to keep a professional appearance.

Your appearance is important—always put your best foot forward.

For more information on the VOICE Customer Service Training workshops, contact Beth Boen at 303-981-1541.

Call or email us today for a free consultation

Table of contents:

Networking–Does it pay?

Five Easy Steps to Make Networking Work for You

Greater Englewood Chamber of Commerce Women in Business Program

How You Look Speaks to Your Customers