Are Networking Functions Profitable?

Well here is a fact! It is not to visit a network event, talk to dozens of people and collect business cards you need to do your home work even before attending an event. In the event you invest a small time before hand doing some research then you will save hours of your precious time and donot must waste dollars by attending an event that wasnot a match for your market.

Networking functions provide a great space for expanding your list of contacts, when they generate and maintain quality relationships. It can be pricey and is not always at the most convenient time only you are guaranteed to meet new and fascinating individuals who have a narrative to share. The questions remains can networking be profitable for my business?

You see the short answer Yes and No because in case you take a shotgun approach to Networking you might be of the lucky ones who meets a great contact from a chance meeting. But more likely you will walk away from the event with a hand filled with cards from individuals who you see tiny or no connection as to the way you can mutually support each others business. In this scenario Networking is unlikely to be a profitable Experience.

What are you able to so then to make your time networking profitable?

1. Highlight the quality and quantity. Most people have experienced a conversation with a that spends the whole time looking around for their next target in lieu of focusing on what it is you need to say. This person is interested in a collection of cards than making a relationship. Here is my approach: Focus on making to new contacts each time you attend an event. This enables you to focus on the quality of the connection, and most people are more likely to keep in mind you one time you make a actual connection.

2. Choosing the right network group or event. The best results come from taking part in the networking events that are relevant to your specific industry. This ought to include trade shows, conferences and associations that are dedicated to all sorts of activities. For example, if your target market is giant corporates, there is no sense to join a group whose primary membership consists of individual business owners.

3. Make a positive first impression. You have chance to make a lovely first impression. Factors that influence this preliminary impact is your handshake, facial expression, eye contact, you interest in another person & in general listening.

Create a great handshake, greet people with a natural smirk, make genuine eye contact & listen for their name. Lots of people do not speak clearly & loud , & others are nervous at networking events so in case you cannot listen to or understand exactly what they say, ask them to repeat it. Make a powerful impression by asking what they are doing before you speak about you or your company. Comment on their business, ask them to elaborate or report in more detail & be sure to listen carefully to what they say. One time you have expressed interest in another person, in most cases they will pay you the same level of attention.

As Stephen Covey says, “Seek first to understand and to be understood.”

4. Clearly articulate what you do. Create an introduction for about0 seconds and a second slightly longer but less than a minute business introduction. The introduction explains what you do and for whom. For example: “I work with store retailers to help them increase their sales and profits. “This introduction ought to encourage the person to request more knowledge.” When this happens, recite your one-minute business introduction. “Danielle, boutique designer wanted a program which would help its sales manager increase sales.” After working with them for six months, they have achieved an increase of 15% of sales. In addition, sales of their line new hand knit line doubled at this time. “As you can see, this is an example of your work and the typical results you help your customers accomplish. Each of these introductions ought to be prepared so that they are top of mind, fresh and can be used in all circumstances. You must be honest, authentic, and come from a place of service.

5. Follow up after the event. In my experience most people drop the ball here. But monitoring is the most important aspect of the network. There's specific strategies to follow:

a) First, immediately after the event, usually the next day, you ought to send a letter to the people you met. Mention something from your conversation and express your interest to keep in contact. Do not forget to include a your details in your correspondence.

b) Then within weeks, contact the person & arrange a coffee or lunch. This will let you learn more about their business, the challenges they may face, & the way you can potentially help them or whom you can refer to them. This is not a sales call; it is a gathering of building relationships.

Networking gets results. The more people you get to know more about you & your company, the more they trust you, the more likely they will work with You, or refer others to you.