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How to network properly

You’ve just started up a new business. So how do you get more leads? 

Well, you could employ a telemarketer to make some cold calls for you that might lead to an appointment. But it typically takes about 20 calls to get an appointment and several appointments to get a sale, so that’s a very expensive option for a new business.  

You could invest in some pay-per-click adverting, but you could end up spending more on advertising than you get in sales.

Or you could invest in search engine optimisation so that people find your website, but it can often take several months and several thousand pounds of effort until people searching for your products find you on Google.

But there is one other way that doesn’t take a huge amount of effort and that doesn’t break the bank. And that’s Networking.

In a sentence, networking is about “connecting with people in order to share information, resources and leads”. This can involve going to networking groups where you meet people from other businesses as well as using social networks such as LinkedIn to help you find new leads.

Don’t kid yourself, networking isn’t a get rich quick scheme. It can typically take 6-9 months to find new business, but once you have built up your network, the rewards can be immense.

Here are my ten rules for effective networking:

1. Find a networking group that is right for you, don’t rush into making a decision. There are groups all over the country that meet at different times of the day, some of which are industry specific. Some are better suited to b2b, others are better for b2c.
2. When you go to a networking meeting, don’t expect business to flood in straight away. Nobody knows who you are and it takes time time to educate them about what you do.
3. Once you have found a networking group that is right for you, make sure you attend meetings regularly. The more people see of you, the more familiar they will be with you and the more likely they are to recommend you if someone they know needs your services.
4. Never sell directly to the people in the room. The average person knows about 1,000 people, so it makes more sense to educate them about what you do so that they can in turn promote you to their network of contacts. 
5. When telling people about what you do, keep your pitch simple. You need to be able to explain in a sentence what you do so that people can easily remember your unique selling point. Focus on the benefits, not the features. So if for example you do search engine optimisation, simply say “I make sure people searching for your services on Google can find you”.
6. Possibly the most important recommendation of all, Follow up!  Don’t try and meet hundreds of people because you’ll never have the time to get to know any of them. Focus on a small “power circle” (it may only be 5 or 6 people) where you know you can help each other find business. For example, lawyers have clients with tax problems that they can refer to accountants. Accountants have clients with legal problems that can be referred to lawyers. Once you have formed a power circle, meet regularly and follow up on each other’s progress.
7. It may be a bit of a cliché, but it’s true: “givers gain”. If you want business from your colleagues, be proactive and promote them first. If you help them, they are more likely to want to help you.
8. Networking should not be limited to going to networking meetings. You should extend your networking to your friends and business colleagues. The people who you work and socialise with are likely to be people who are happy to trust and promote you.
9. Your clients can be your best referrers. If they like what you do, why not encourage them to tell others? Visit your top clients regularly and take an interest in their business. The more interest you take in them, the more enthusiastic they will be about promoting you.
10. Any networking that you do person to person should be reinforced by by online networking. If you connect with someone at a meeting, follow up on Linkedin. Find out whether your Networking meeting has a LinkedIn group. You can then follow up your networking online.