The richest people in the world look for networks, everyone else looks for work. – Robert Kiyosaki
How true this is! Everybody has heard, and probably appreciates the power and potential of networking. It connects us with people, and helps us open doors to new opportunities.
Networking well and connecting with people is imperatively important! Yet, it remains to be seen how well most entrepreneurs and small business owners go about doing it.
Ask any coach, consultant and trainer who’s worth their salt… and/or business person who’s “made it”, about what’s the secret to successful networking, and the answer is to “build relationships”.
Building relationships requires patience, sacrifice, giving and supporting other people.
It also requires consistent effort, consistent seed planting and tending to your efforts.
In a nutshell, it takes a heck a lot of time… to really reap a heck lot of benefits!
Yet, many new entrepreneurs and inexperienced networkers continue to commit the ultimate sins of effective networking in business, and that is to attend an event, with the sole intention of promoting and selling their products.
Their goal is to find prospects, get leads, and hope to close the business at the next meeting.
It is no wonder than, that a vast majority of entrepreneurs and networks quickly get demoralised, give up and fail to return for subsequent events, because over 95% of people they meet won’t buy from them, and 5% is not an attractive ROI!
The Keys to Effective Networking
“The currency of networking is not greed, but generosity.” – Keith Ferrazi, American Author & world’s foremost expert in professional relationship development.
Effective networking for business requires all the skills we need from our personal lives, and more.
Here are some keys
1. Listen to Understand, Not Merely to Respond
The key to building relationships is communication, and the key to communication is not merely talking, it’s listening.
There are too many people trying to talk, and too few people attempting to and willing to listen to others.
That’s why important clues and cues for connecting with people get lost in the interactions!
The #1 tip in building relationships? Shut up and listen (for what makes people tick!)
2. Consistency is Key; So is Community
Too many people give up too quickly, not knowing that the key to winning, is consistency.
By being “consistent”, I mean heading back to the same event with the people you’ve met – return catch up, and update each other about what’s happening in your businesses.
Everybody needs a base and platform to grow and thrive – make an effort as a community to return and reconnect and support each others’ businesses.
3. Bless – Give What You Can and Expect Nothing Back in Return
This sounds ironic in business; how can one give freely without expecting anything in return?
The idea sounds outrageous, but it holds immense wisdom.
The idea of giving, does not refer to your products or items that involve a high cost of production, but what I call Low Cost, High Value items.
Ie, if you know of a person who requires the services of another, then take the initiative of connecting them together. Or if you know of a resource that a person needs, you can point them in the right direction.
Being of service to others is a great way to build goodwill and trust.
Not expecting anything in return reminds everybody that you’re there to be of service whenever they need to, and they don’t have to worry about not being able to return the favour immediately.
Expecting something back in return, also makes you impatient for others to help you… which will compromise the intention of helping people anyway, and how people feel towards you.
4. Be Selective with your Relationships
One mistake, many entrepreneurs make at networking events, is to attempt to speak to as many people as they can, to cover as much ground and build as many “connections” as they can.
Whilst the reasoning may sound legit enough, hopping around from table to table, and person to person doesn’t afford you the time to truly understand and deepen connections.
The usual end result is receiving a namecard of person who doesn’t really know or trust you very much… and may not be inclined to meet up with or work with you at all.
The answer to this, is to know who you’d like to meet… and connect people whom may not be relevant to you, to those whom you know they’d like to meet, thereby freeing yourself up find the people you want to meet.
Interestingly, when I connect other people to the ones they’d like to meet, more often than not, they’d return to help connect me with the people I want to meet!
Remember, follow point 3.
5. Connect with the Organizers
The organizers, by virtue of their position, are the cornerstone of every meeting. They are a treasure trove of resources and contacts, and are a valuable point of contact / people to know.
Naturally, organizers of an event usually busy, and it’s hard to get hold of them. That’s one of the reasons why many are hesitant and afraid of reaching out to them.
The key to connecting with organizers, who may in turn refer you people you need to know, however, is to strive to be a person of service and/or support to them, in whatever ways you can (remember point number 3?).
Whilst, it is virtually impossible to for us to meet the leaders of big events, it is still possible to reach out to and hone your skills with the small-medium organizers. If you know how to position yourself well, you might be surprised by the referrals they can give you… and those relationships, are truly priceless.
Want to Build Better Relationships, Win Referrals and Become More Influential at Networking?
Join us at our next networking events, hosted by us/our partners!
Connections over Coffee – by Catalyst Empowerment / Business Development Society (Singapore)
SBM GoPitchIt & Netowkring Sessions by Singapore Business Meetup
