Networking When You Start Your Business

Do you use business networking as a marketing tool for your business?

Perhaps you are new to the business world and you do not have a large marketing budget? What possibilities are open to you to market your business and have people know you exist? Will anyone want my product/ or service?

These were all questions I asked myself when I started Your Time Matters in 2010. It wasn’t my first business. I had sold embroidered baby blankets at local craft markets in Victoria, and in fact had even started my own market at the Brighton Town Hall which ran for 6 years, but that’s another story.

How Networking Helps To Market Your Business

To market your business, you could advertise in the paper, school newsletter or magazine, you could pay for Facebook ads, use social media (which goes without saying in today’s environment) or even or do letter box drop, if appropriate for your business. However you need to understand your market and find out what they need and a great way to do that is through personal face to face conversations with others. You will find that like minded business owners will make valuable connections and help you build your business understanding. Even if you have worked for an employer, there is so much to learn and manage when you have your own business… it can be quite overwhelming.

I recommend you seek out opportunities to network, you will start to meet a variety of people, use your time to test your business proposition and find ways to grow your business as you connect with people who may be, or know, your prospective clients. Networking will also help you meet future suppliers.

Yes, Networking is a cost effective form of marketing if done properly.

The major cost of business networking is that it can be a waste of your time if you do not network efficiently. So you need to have a clear intention of what you are wanting out of the exercise and benefit from the visibility and credibility you want to build. Simply- you need to plan, prepare and follow up plus know hoe to turn your conversations into business.

Go out to the community and constantly be thinking and questioning how you can help others and what types of businesses are a good fit for you, you will start to develop relationships that could grow to be mutually beneficial.

How to Uncover Networking Opportunities

There are many types of networking groups available to you, and in fact you can network just about anywhere! Do you have access to sporting groups, school communities, Chamber of commerce in your area, Social networking groups or specific referral networking groups. If you are new, you will need to try out a few to see where you see the best fit and feel the most comfortable.

If your target market is women, obviously one or more of your groups should be made up of women. However, as you will also need suppliers and you also never know who knows who, do not limit your thinking or connections by only networking with women.

Networking is not about selling

Be mindful that good networking is not about selling. It is about getting to know, like and trust people who you would like to help grow their business and build a relationship sharing resources, advice and experience.

You could say, that good networkers earn the right to ask a favour from their connections when they need help with a project or in finding the information, they require.

Networking is the opportunity to give, rather than gain. Your knowledge, experience, contacts and opportunities should be shared freely to assist others , who in turn may be able to help you.

My Top 5 Tips as you launch out into Business Networking

·         Dress to impress. The more confident you feel in yourself, the easier it is to feel relaxed in a new environment.

·         Have some questions ready to start your conversation and make your contact feel at ease.

·         Have a concise 30 second description of what you do and how it helps your target market. Your 30 seconds, should be enough to encourage further conversation and spark interest.

·         Make sure you have your business cards and take a pen and notepad to take done any reminders. Do not write on a business card, as some cultures view this as rude.

·         Listen more than you speak. You should focus on their needs, not your business.

·         Follow up within 48 hours by email or write a short note, and then set up a reminder system to keep in touch in the next couple of months with the contacts that are a good fit for your business, beliefs and values.

As your confidence and business develops, networking becomes easier. You start to meet some of the same people whilst at the same time, strengthen relationships with people you have met on other occasions and at other events. Enjoy the experience, learn from the stories you hear and share a bit of yourself, you just never know where it will take you!

Kerryn Powell is the founder of Your Time Matters and is The NetworkCatalyst. She speaks, mentors and runs events to help business owners and professionals connect. She has written “The 90 Day Networking Challenge” and also “Two Ears, One Mouth and a BIG Heart” to help develop understandings of the power of networking and how to make it part of life, both personally and professionally.

Follow her on social media. Contact her to discuss how best she can help you HERE or take a look at the DIY online course “How to start or improve your business networking”