Growing Your Business by Networking

You are always looking for ways to grow your business and have heard that networking can be a great way to do that. Just what is networking and how can it help you grow your business?

Networking is a way of establishing and maintaining relationships for receiving information and resources to help your business grow. The focus of networking should be to build rapport and long term relationships. Networking gives you access to a variety of information and resources.

Some think negatively of networking thinking the emphasis is on, "What can you do for me?" However, successful networking is about being genuine and authentic, building mutually beneficial relationships. It's not just about what others can do for you, but what you can do for others. Consider these questions: "How can I be of help to others? What can I contribute? What kinds of resources do I have access to that I can share? What type of support can I offer?" Choose a group that will help you achieve your goals and is supportive of one another.

Motivate and educate your network

What are you doing to compel your network to refer you? Are you interested in what they do and do you refer them to your customers?

What have you done to educate your network about what your business? Have you kept them informed of new products and services? Have you given them succinct information about your business, such as business cards, brochures, web-based information, so they can also educate others they know?

Become known as a powerful resource for others; people will remember you and turn to you for suggestions, ideas, referrals, etc. Follow through quickly and efficiently on referrals you receive. When people give you referrals, your actions reflect on them. Respect that and your referrals will grow.

Authenticity and Networking

Following up with business contacts you meet at a networking group is great. However, be sure your follow-up is authentic.

Recently my husband and I attended a networking function and received a hand-written, hand-addressed piece of correspondence from a business owner who also attended. We were very impressed to have received a hand-written follow note from this business owner. As business owners ourselves, we know the impression that a hand-written note can have on the recipient. A hand-written note often has greater value than a follow-up by email.

However, when we met this business owner a couple of weeks later at another networking function and thanked them for the hand-written note, the business owner let us in on their 'secret'. The business owner outsources the job of sending out these notes because they meet to many people each month to be able to do it themselves. The personal note was not authentic. We felt let down and are not inclined to pursue a relationship with this business owner.

We understand that time may not allow for a hand-written note to everyone you meet. But if you send out what appears to be a hand-written note from yourself, and then it's found out the note was not written by you, what impression do you think that gives?

I agree with what The Commonsense Entrepreneur states in his book 49 Commonsense Business Observations: "In business you absolutely must hold yourself and your employees to an unflinching and absolute commitment to scrupulous honesty... In the long run, just like a healthy diet, honesty is most assuredly the best policy. Your business will become known for it; trust me, when folks know a business operator is honest, business picks up."