Building relationships helps to build your business

Referrals provide some of the most valuable and cost-effective business leads you can get, but how do you get them? In our experience the answer lies in taking a planned, pro-active approach to business networking.

The popular view of successful business networking is that it involves turning up at any business gathering, handing out your business card to all and sundry, and lambasting listeners with the wonderful benefits of your service, product or offering. The reality could not be further removed from this scenario.

Business networking is an acquired skill that is key to making contacts, building relationships, increasing your knowledge and expanding your circle of opportunities. Moreover, it involves listening as much as talking; learning as much as informing; and, helping as much as gaining. Networking is very much an attitude and approach that, once embedded in your corporate culture, can generate sustained long-term business. Nor is it just sales opportunities that may arise. Networking can be an excellent way to find and recruit new staff and it may also lead to new business partnerships and joint ventures.

With the return to more face-to-face meetings with a few hybrid online networking opportunities ongoing, let’s look at some of the attitudes, approaches and actions that can prove highly beneficial when conducting your business networking.

Create a business networking strategy

Networking takes time, so it’s better to target your efforts towards those events and platforms at which you are most likely to meet the influencers and decision-makers you need. Your local Chamber of Commerce or Federation of Small Businesses offer this type of networking. You can also find local events via websites such as Eventbrite. There are also professional referral organisation that you can join. Bring plenty of business cards and corporate brochures, if you have such things.

Frame your thoughts

The thought of entering a room full of people you don’t know, whether online or in person, and striking up a conversation with a complete stranger can be very intimidating. But it’s an essential part of networking and the more you do it, the easier it becomes. One way to remove some of the pressure on yourself is to frame your thoughts around how best you can help that person, as well as how they might be able to help you. In other words, by reaching out and trying to help those you’re talking to, they in turn will want to help you. Referrals come from relationships built on trust.

Have a structure

As an owner or business director, you know your own business inside out. But the secret of successful networking is not merely to convey ‘what’ you do, but ‘how; you do it, and most importantly, what benefits you bring to your customers. So take time to consolidate your thoughts around such issues as:

·???????Who your ideal customer is and ideally have actual businesses or the names of people/prospects to whom you’d like to speak.

·???????What you do and what’s different, special or unique about it – your USP

·???????Where your growth opportunities lie and new markets are located

·???????When you want to develop new markets

·???????Why you are different, better and distinct from your competitors, why they can trust you

·???????How your product or service brings real benefits to your customers

Remember too that used as open questions, these pointers are also an excellent way to extract concise information from whoever you are talking to.

Know what you want

What is a referral? In short, it is the opportunity to do business with someone in the market to buy your product or service. So an ideal referral is where your advocate says; “I’ve spoken to So and So, I’ve explained that you’re the best in the business and they’re expecting your call.”?Aim for these, but accept anything in between.

Follow up

Once you get a referral, act on it as quickly as possible while it’s still hot and out of courtesy to whoever referred you. Confirm that they are expecting your call, make sure you use the referee’s name get an appointment asap. It is good practise to keep your referee in the loop as to how the referral is progressing, good or bad.

Return the favour

Actively look for opportunities to pass on meaningful referrals to other businesses, especially those that have helped you. Build up your Business Karma.

Networking works better when your broadband and telephony is in fine fettle. If you’ve any queries about yours, call me, Paul Hagan, or any member of the HPN team on 028 9053 8411. We’ll be happy to examine your current set up and discuss your upgrade options. We can even see if we can bring you a referral!