The power of networking: Growing your small business

Many of us as leaders or entrepreneurs value the power of networking and what it can do for our businesses. I know I can attest to stories where I’ve ran into someone after first meeting them at a networking event only to end up collaborating with them on a project years after our initial meeting. It’s the notion of never knowing where we’ll end up, not burning bridges, it’s a small world…

My calendar pre-pandemic was full of networking opportunities, what happened?

I think networking went remote along with the workforce. But being online will never replace the connections that can be made face to face. Below are some ideas I shared a while back on how to put a new feel into your networking with tangible tools and steps you can take to follow up and get back to networking. Because we all know that while getting to our respective networking events can be half the battle, following up can easily fall off the radar as well.

Set some networking goals for the New Year. What groups have you not been back to over the past 3 years, what new groups have been started that sound interesting? It’s time to get out and start talking to people again.

Think of your network as being a part of five key categories:

1.??? Your current connections

How many times do you get together with people you already know? These are our easiest connections to make. They know us, we know them, and nothing is usually awkward. Likewise, how many times do you reach out to these people throughout the year to just touch base, say hello or offer a listening ear? Weave these strategies into your goals.

2.??? General business (or entrepreneur) groups

Learning from others outside of your industry is a great way to expand our thinking and understand viewpoints from all angles. I know that when I’ve been a part of groups that are outside of my industry, I still learn so much—and can apply it to the position I am. By engaging with professionals and groups that sit outside our specific industry, we can also keep a pulse on a broader scope of the economy and be a resource to others in our network who may be looking for the “perfect person” outside of what we can offer.

3.??? Industry-specific groups

Learning from others who are dealing with the same issues that we are, within the same industry, is probably the easiest way for us to network. It’s what we know and who we (typically) know already. These groups are great for continued learning (some groups may even offer CPEs) but I caution you to be mindful of spending all your time in the industry-specific groups. Checking out networking opportunities with others outside of what we do can provide well-rounded information for your personal growth; be sure to maintain just as many connections outside your industry as you do inside your industry.

4.??? Non-business groups

Sometimes connections come through groups that are not directly associated with our businesses. For instance, maybe you sit on a board of directors for a nonprofit or you help as a committee chair for church. Getting involved in our communities outside of business is a way to stay connected, offering a helping hand and still, remain a person that others think of as being available to provide help and resources.

5.??? Demographic-specific organizations

These are groups that speak specifically to us as individuals—maybe it’s a group of female business owners or CEOs under 35. There is an identifying factor in these groups that make them great to join and be a part of because, theoretically, everyone is in the same (or similar) boat. If you aren’t in a group like this yet, make it a point to check one or two out during the year.

Set goals that push you outside your comfort level by defining a number of connections to make within the one or two categories above that you don’t normally participate. Ask others for suggestions or encourage a friend or colleague to join you to make it easier.

Establish a follow-up process

Follow-up might be one of the pieces of the networking puzzle that gets missed the most. What do you do with the business cards you collect? Does the conversation stop after you’ve gone back to the office?

Establish a system to follow up with those you have met. Block of 15 minutes on your calendar after each networking event that you attend (or at the very least, sometime during that same day) so that you can go through the cards and contacts in real time, add to your CRM, send follow-up emails and make notes about the conversations you had. Set up auto-reminders for yourself to follow-up at a later date with people or jot down fun notes about traits you learned about your connection that day.

Share the love

Networking should never just be about what’s in it for you; we go to networking events to learn from others and to also share our insight. Come at networking by answering the question, “What can I bring to the table today?” or “What ideas can I share with others that would be helpful to them?” It can be something as simple as an article you read that morning before the event or providing the contact information of another professional in the field that would be a great additional connection for the people you meet at said event. Try and ask leading questions such as, “What struggles are you having in your business right now?” or “If you could take one thing off your plate, what would it be?” It’s possible that you might be able to provide a helpful answer to that person through your dialogue and connection.

Whatever you gravitate toward, set yourself some good networking goals for the coming year. Think back to where your best clients or customers have come in—I bet that a good portion of them have been through the simple power of connecting. Keep networking top of mind and your business will continue to grow. Want to start networking with a banker? Send me an email at [email protected]