Networking: How To Build Profitable Relationships

Whether you are a business owner or a career driven professional, making connections and meeting key people who can support you or become your clients can be the key to success for you.

By building a network of strategic partners, associates or colleagues, you are cementing your future growth.

When I say profitable, I'm not just talking about money.

Some relationships are worth way more than money can buy.

Need a new client? Need a new job? Need to develop your skills?

Having a strong professional network is the answer to solving all of these issues.

I speak from experience.

My biggest career opportunities have come from a referral or a networking opportunity.

Let me give you an example:

In 2019 I did a TEDx Talk . How it all happened was due to me networking constantly.

I was a featured guest on a podcast and so was one of the TEDx Birmingham organizers. The person who featured us suggested that I apply to become a speaker in front of the organizer.

It had been a goal of mine to be on the TEDx stage, but I thought I wouldn't get in if I applied; however, the podcast host went on to tell the TEDx organizer how much I had helped her grow her business and about my work giving back to the community.

A week after the podcast, the TEDx Birmingham organizer reached out and asked me to meet for coffee about a business idea they had and wanted to know the steps to begin.

I went to the meeting with no expectations to gain anything, but I wanted to serve them at the highest level. After we finished our coffee meeting, they told me to apply and gave me the run down on what makes a great talk.

I applied and months later I got in.

Thanks to my friend who featured me on the podcast, I got connected to someone who helped my personal brand grow tremendously.

Oh, did I mention that the person who interviewed us was someone I met at a networking event?

That's just one example. I have many more.

So, as you can see, networking has done wonders for my business and brand and it can do the same for you.

Networking can be beneficial in many ways

1. It builds a referral base
2. You gain access to mentors
3. You can become a mentor or valuable advisor
4. You get access to those who provide services you need
5. Get you featured in the media
6. Get you connected to influential people like politicians and leaders of corporations.

But, how do you begin to build your professional network? Where do you go?

Where you go and what you do depends on who you want access to and who you can add value to.

There are two forms of networking, formal and informal.

Formal Networking

Formal networking is an event setup for you to network. It is assumed and understood that you are attending this event with the purpose of building your professional network.

Some examples of formal networking events are:

• Chamber of commerce events
• Trade shows
• Seminars
• Nonprofit and charity events
• Professional panels
• Networking organizations like the Birmingham Urban League Young Professionals
• Board of director meetings
• City Council meetings

Other places to build your professional network depends on your industry, occupation and interests.

For instance, if you are a realtor, you would want to network places where your potential clients go as well as potential partners like:

• Mortgage Brokers
• Home Inspectors
• Title Companies
• Appraisers
• Contractors

Informal Networking

Informal networking happens when you go anywhere without the intent to network.

This can be sporting events, at the bar or your favorite restaurant or a party.

This is the situation when you are less polished and focused on enjoying the moment. You might not have business cards or personal brochures.

For instance, I was at a bar yesterday. I did not go there to meet anyone but I happened to be sitting next to a guy who was on a Lenovo ThinkPad laptop and I happened to see him imputing data in salesforce .

This let me know he was a business professional. Companies often give their staff that type of laptop, and if he was working out of a bar, it let me know he was some sort of executive.

When I saw him using salesforce, I knew he was a sales professional.

I couldn't help myself and started a conversation with him. I learned that he is an account executive for an SAT Prep company in the southeast. We had a great conversation about sales, business, fitness, and as I was leaving we exchanged information.

This morning, he sent me a message asking to keep him updated on events he can attend and people he should be connected to in Birmingham, Alabama.

He also did research on me referred me to one of his colleagues that wants to build his personal brand and we have a call scheduled for next week.

With informal networking, you should always be prepared to put yourself in a position meet influential people through your social life. However, don't confuse influential with popular.

Getting The Most From Your Network

When networking, the biggest mistake I see people make is that they go for the sale right away, or when someone reaches out to them looking to build a professional relationship with them, they shut the idea down and reply with things like"

• "Email me if you have a need for what I do" or
• "Nice to meet you, here is what I can do for you, let me know when you are in need of my services."

The goal should be to build a relationship, not to sell.

You could be missing out on many personal and professional opportunities this way.

On the other hand, if you met others by way of networking, and they follow up, do not think product or sale, think relationship.

Afterall, the only thing that separates a contact from a contract is the letter R. The R stands for relationships.

You also want to stay in contact and keep your new connections involved and informed. Keep them in the loop about future activities and the work that you're doing.

Let your network know about anything that builds your credibility. Have you been featured in the media? Did you receive an award? Share this with your network.

Another best practice is to build a community. Get your network together.

It could be in person or virtually. Let them know that you want to connect them with other like minded individuals as well.

You also want to listen more than you talk. You have two ears and two eyes for a reason. You only have one mouth. Always remember that.

People want to be appreciated as people, not as prospects.

Lasty, be yourself. Do not pretend to be anyone else. If you are personable, let that shine in front of your new network. Are you fumy? Most people will appreciate a good, clean joke.

Effective networking happens at every place you put yourself in and it's all about meeting new influential people. Your success depends on it.

Are you a young professional in Birmingham, Alabama and are looking for a place to network, build your professional network and be a part of a movement of Young Professionals that will be the next leaders in the city? Join the Birmingham Urban League, Young Professional as we host our YP Mixer: Rooftop Edition on Thursday, September 15th

#networkingevents #youngprofessionals #youngleaders #buildyourbrand #buildyourbusiness #buildyourcareer .