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Networking: A Valuable Tool or A Waste of Time?

Networking: A Valuable Tool or A Waste of Time?

I love networking! When I started my business fifteen years ago, I was living in the area where, except for my four years at college, I’d spent my entire life. I had held several jobs in both the public and private sectors that allowed me contact with many of the area business professionals. So when I started my gift basket business, I already knew lots of people I could contact and offer my services to. I had a very strong network already in place.

To expand my network, after all, we can’t ever have enough business, I joined the Chamber of Commerce and BNI, both great organizations that offer lots of networking opportunities. I also became involved with a couple of service organizations and non profits. Rarely did I attend an event where I didn’t know at least a few people who I could talk with and ask them to introduce me to others. It’s so much easier to start doing business with someone when a mutual acquaintance recommends you.

That’s what networking is all about, building relationships and building trust. It’s about talking with people, getting to know them and giving them a chance to know you.

Today I am in a very different situation. I am still operating my gift basket company but when my husband retired this past year, we moved 200 miles away to a place where I know no one. So, like many of you who are starting out in business or wanting to grow your business, I need to get out and build another network.

Building a network is simple. Notice I said it was “simple” I didn’t say it was “easy”. You build a network by “networking”. Most people think networking means going to an event sponsored by a group like the Chamber of Commerce, walking in and start telling (i.e. selling) everyone you meet what a great product or service you have. The next thing you know, you’re writing orders.

If that approach hasn’t worked for you in the past, you’re not alone. First of all, it is not easy to walk into a room full of strangers. It seems like everyone is part of a group, happily chatting away. You feel like the “outsider”. Even after years of attending such events, I still get butterflies. I’m not totally comfortable approaching people I don’t know and I don’t know too many folks who are.

One way to avoid having to walk into a room full of strangers by yourself is to get someone from your office to go with you. It would be nice if they already knew some other people and could introduce you, but even if they don’t it will give you more confidence to take the first step. Once you are there, you need to make sure you don’t spend the entire time talking to each other. Remember, you are there to meet new people.

Now you’re in the door. You start talking to people, telling them all about your wonderful product or service. You have your “elevator speech” down perfectly. So why aren’t they buying what you’re selling? The bigger questions is, why should they? Why should they buy from you? After all, you’re a perfect stranger.

Instead of talking, try listening. The biggest mistake people make in networking is they talk, and they talk, and they talk. The people who get the most out of networking are the people who listen. People like to talk about themselves, so if you train yourself to listen (really listen) and ask questions, you’ll learn a lot about the people you are talking with and will start to build a relationship with them.

Building relationships is the reason for networking. How often have you made a cold call, a really cold call and gotten a big order? It can happen, but the odds are definitely not in your favor. People like to do business with people with whom they have built a trusting relationship.

Another key word to remember is “building”. Networking is the way you build relationships. After meeting someone at an event, send them a short note or an email thanking them for their time and letting them know you enjoyed meeting them. The next time you are both at another event, make a point of walking up to them and saying hello. Building relationships take time. So start today.