How to get more from networking
Simple tips to make the time you spend networking work better for you.
Question: How many people go to networking events to buy? Answer (in most cases) is zero. How many go there to sell? Answer most people, you might justify it as making referral contacts but ultimately in my experience you will be selling to them so don't kid yourself!
With that fact in mind how can we make the time we spend networking more effective, the simple answer is to change the context. Instead of going there to sell go there to find one or two people who can refer you. This doesn't mean go there in the hope that you will find someone who might refer to you (see my article on "sourcing"). This means going to a networking event with the sole aim of finding one or two very specific people. There is no element of chance to this process, it is about taking a more structured and focussed approach.
Let me guide you on how you select these individuals.
Step 1
Take a blank sheet of paper and in the centre draw a circle about 10cms in diameter. In the circle write down a description of a perfect client including things such as geography, size, person you would normally deal with, sector etc. Be as specific as you can.
Step 2
Draw spokes out from the centre circle and at the end of each spoke right down the function that would have a close working relationship and trust with your perfect client. This would typically be a list of professions not names, put yourself in the shoes of the perfect clients and think who he/she would have a relationship with. Ideally what we are looking for here are functions that would know more than one. For example if you write down as a perfect client "Owner of a mid tier business based in Hampshire" then on the spoke write accountant, the likely hood that the accountant would know more than one mid tier business owner in Hampshire.
Step 3
When you have exhausted the number of spokes (Aim for 15 as a minimum) write down under each one the list of people you know in each function. Technically you only need one for reasons which I will explain in another article. If you do not know one then just write
A.
B.
C.
These are names you are going to have to find.
Step 4
Decide which of the spokes are going to be able to refer the most number of new clients to you. Choose those that are likely to know your perfect client not who you know already. This process will help you identify where there are gaps and which ones you need to fill. This is where the networking comes in as you now turn up at the event knowing you are looking for say a commercial lawyer and a web designer who specialises in your perfect client.
Remember you do not need to have a big number of these referrers. Check out my article on "Tuning on the referral tap" for how best to proceed from this point. Here are a couple of rules to follow
- Know your perfect client
- Only partner with people if you like them
- Good sales people make better referrers
- Be sure they have the same focus on perfect clients
- Be patient, it might take time but will be worth it in the long run
So next time you find yourself at an event, be clear on who you want to engage with. Get a list of attendees and ask the host to introduce you.