The Power of Networking (by someone who has hosted 150+ business events)

If I had to attribute one thing to my success without hesitation I would tell you the reason for my consistent success over the years is the people in my network who have helped me to take my career to the next level time and time again. In this post I am going to do a deep dive sharing what I’ve learned by hosting and attending hundreds of business events over the years.

Build Genuine Relationships

The majority of business people look at others as numbers and this mentality could lead to a single sale at most, but it’s more likely that potential clients will see right through that facade and won’t be interested in doing business with you. When your focus as a networker is more about building long term relationships and giving value instead of always taking value, you grow legitimate relationships that are built on trust and friendship which goes a long way. Having a strong relationship not only retains clients, but it also makes it more likely that they will recommend YOU and your services to other potential clients from their network. I recently launched a design agency and a lawyer friend of mine, John Benemerito who I’ve always helped out as much as I could with business development, introductions, and anything else that could boost his business reciprocated on several occasions including helping me land about 25% of my first batch of paying clients. It’s a relationship where we are always looking out for each other and give as much as we can when the opportunity presents itself.

This doesn’t mean that you should fake a friendship with someone just to get referrals. Make sure that you are genuinely keeping your contact’s best interests in mind and work towards helping them so that they may return the favor down the road. I would also warn against counting favors. You need to have a giver mentality because when you do give, 90% of the referrals or intros will never be reciprocated. The good news is that the 10% that does come through could become a small fortune; lose the battle, win the war.

Be Kind and Supportive

One simple thing we should always remind ourselves of is the power of smiling and being a positive force while networking. Throughout the years there have been numerous networking circles that I’ve walked into that were full of people attempting to connect, but everyone was sort of standing around and waiting for someone else to say something. All I typically have to do is walk in with a big smile and ask a question about other people’s businesses and before you know it the entire circle is excited, engaged and thinking deeply about how we can help each other out. It’s really amazing how something as simple as a smile and positive energy can change the entire dynamic of a conversation.

I also make sure that I’m extremely kind and empathetic when hearing about other businesses as most entrepreneurs are typically in the early stages and bootstrapping their companies. Always have an open mind and never discourage an entrepreneur. If their businesses doesn’t make the most sense to you right now think through how you can be helpful and provide valuable insights. What you tell them could help with a crucial pivot which could put them on the right track. Be a positive force in the conversation and the person you are networking with will look to you as a helpful resource which could lead to doing business together in the near future or down the road.

Referrals Have High Conversion Rates

I’ve found that lawyers and accountants are viewed as trusted advisors by their clients. A good way to warm up a relationship with lawyers, accountants or anybody who may be able to drive you business in the long term is to refer a few customers to them to lead things off. It’s also a lot easier to close a deal via a referral by a lawyer, accountant, or another solutions provider because you’ve been validated from the start as they chose to bring you into the picture.

Make sure that you keep the flow working both ways as much as you can or else the intros will come to a halt. Also, if you’re referring for certain solutions like web development, digital marketing, etc. it would be wise to negotiate a % of client spend for the referral. I’ve had referrals for solutions at 10% that have been paying me residual income for years now.

Consistency with Events Pays Off

Attending events needs to be consistent part of your marketing/sales strategy as it’s a numbers game. Not every event that you attend will be fruitful, but if you put in the effort over time there will be enough strong connections that will ultimately lead to a huge ROI. I’ve generated hundreds of deals from connections that originated from events and if I were to stop attending after a few bad experiences I would’ve missed out on what has become my most effective form of marketing/sales. As far as strengthening connections with people that I’ve met at events and building rapport I always email and add new connections on LinkedIn so that we can keep our relationship nice and warm.

Take the Initiative to Follow Up

If you’ve made a strong connection with someone that you really want to maintain a good relationship with it probably means that it’s someone who is successful and/or has some really strong synergies with your business. If you don’t hear back after a few days, kick your ego to the curb and take it upon yourself to follow up until they do respond. At the same time, be respectful of their time and be flexible so that you can connect when the opportunity does present itself.

Recommended Reading to Help You Network Like a Pro

These are books that I’ve read along the way that have added massive value for me as a networker as they get very granular about not only how to handle yourself and how to treat others, but they also go even deeper and explain the benefits of such actions. The books that had the biggest impact on me are:

1. Give and Take by Adam Grant
2. Never Eat Alone by Keith Ferrazzi and Tahl Raz
3. How To Win Friends and Influence People by Dale Carnegie

Jason Malki is the Founder & CEO of StrtupBoost & BizDecks. StrtupBoost is a 30,000+ member startup event series and ecosystem in NYC which hosts 25+ tech events per year for Seed-Series B Startups. BizDecks is a deck design agency that focuses on Fundraising & B2B Sales Deck Design and features a network of 200+ tech investors ranging from Angels to Corporate VCs who they have strong relationships with and send consistent deal flow to. You can reach him at [email protected] or [email protected].