Effective Networking Strategies for Small Businesses
All businesses need to network and in fact many people’s success is based on the power of their networks. Networks can include family and friends, although they often don’t. More importantly they can consist of suppliers, customers, complimentary businesses and sometimes even rivals. Networking is certainly a skill which can be learned and while it is arguably easier to do by outgoing, gregarious personality types that shouldn’t stop more shy and retiring people from giving it a go.
In this blog post we’re going to look at a few very effective ways to grow your network which over time can be used to grow your business. This is by no means an exhaustive list, but rather a short review of effective strategies that are quick and simple to use. We’ll start online.
The 80 pound gorilla of online networking for business is obviously LinkedIn. However, depending on your business and indeed the people you’re trying to meet Facebook can be another great networking platform. LinkedIn has been around for a couple of decades but has exploded over the last 5-10 years. It is purposely designed for professional networking and attracts hundreds of millions of professionals from all over the world. It started out as a CV repository and job board but over the years has developed into a high tech publishing platform along with being an engagement and discussion forum. The full capabilities of LinkedIn and how you can use it are way beyond the scope of this short article but suffice to say most businesses should at least check it out. If you provide professional services to other businesses it is a must that you have a presence on the platform and engage with people regularly in order to build up your professional network. You can simply reach out to people and ask to connect with them. As long as it’s not done in a spammy way many people will be happy to connect with you.
Back in the physical wold there are lots of places to network in real life. The big player in the UK is Business Networking International (BNI) which is an international organisation of local chapters who meet each week with the exclusive aim of passing business referrals along with developing relationships. BNI represents a very formal style of networking, which comes at a cost, and limits each chapter to only one member of each profession. So once you’re the web guy for the chapter then no other web designers can join that chapter.
There are less formal examples of in person networking such as Business Biscotti and your local Chamber of Commerce which don’t require as much time and effort. However, you could end up at a meeting with several people that provide the same services as you do. This may not be a bad thing but many business owners are looking to expand their network of contacts beyond their own industry.
Another very popular way for businesses or even individuals to network is to work in a co-working space or shared office facility. There are many of these facilities in all the major cities with a huge amount being based in London. The beauty of these offices is flexibility along with lowered costs but it also allows freelancers and small companies the ability to network with likeminded individuals.
Along with the social benefits of human contact a co-working space can allow you to bounce ideas off of get to other people as well as hiring other professionals you know and trust. Seeing people even just once a week enables a level of trust which builds the value of your network. Also this type of networking doesn’t require any extra time and effort as it occurs during the process of your normal working day.
Another great way of networking is to attend industry events. Each profession or trade will have industry events such as conferences and trade shows. While there is great to stuff to see and learn at these events the real value lies in the contacts that you make when you attend. Whether it be suppliers, agents or just fellow professionals in your field these networking opportunities can be invaluable. Most conferences and trade shows give you the opportunity to swap sales material and business cards which enable you to follow up after the event. Often times at conferences there are organised social events where you can let your hair down and meet people in a more relaxed setting enabling you to build relationships even further.
If you’re interested in growing your network of business connections then give one or two of these ideas a try. In 30-60 days of consistent effort and follow up you can grow both the size and the value of your personal network quite markedly. Leave us a comment and share your experiences.