Some people take to networking like a duck to water; others find it mixes like oil and water.
Networking is a vital component of starting and running your own business. No business is an island, and having a network of stakeholders, contemporaries, clients and advisors on your side can be the difference between failure and long-term success.
But the word “networking” can also leave many business owners rolling their eyes and recoiling in their seats. Not everyone who starts a business thrives on self-promotion and business development, and that’s one thing any networking event is designed to deliver. TEDCO Business Advisor Jeff Thompson hosted this group for networking where everyone was welcomed and introduced to interesting people.
Thankfully, whether you crave the spotlight or prefer a quiet corner, we’re here to show you how to navigate networking successfully regardless of your personality type and our business advisors
Recognising networking as a tool
Whether you like it or not, networking is the lifeblood of growth, and a valuable tool for sales, marketing and business development. It’s about more than just exchanging business cards; it’s about fostering leads, creating referrals, building bridges and accessing new markets. It can build word-of-mouth marketing for your brand and introduce you to mentors, investors and advisors – all of which can be invaluable.
The connections you make today could support your business for years to come, so even if you’re not the biggest fan of networking, it’s important to recognise it as the useful tool it is.
Networking comes in many forms
While the word “networking” might conjure images of a conference hall packed with extroverts in business suits shaking hands, the truth is that modern networking comes in a range of different forms and formats.
Networking can range from formal meetings to trade fairs to relaxed coffee mornings and more. In other words, there is a kind of networking for every business owner, you just have to find it. Once you discover the kind of networking environment that speaks to you and your brand, you won’t have to force yourself into attending sessions that feel unnatural.
Read the room
Successful networking is rarely “one-size-fits-all”. Reading the room to get a sense of the event before you start trying to promote your brand can improve your chances of making a good impression. Does this seem like the kind of event where rehearsed elevator pitches go down well, or will you stick out like a sore thumb in a more chilled out environment? Take a moment to scan the room, listen and see what the hot topics of conversation are.
Building confidence and initiating contact
At any networking event, the first step is always the hardest. But confidence doesn’t mean being the loudest person in the room, it means being authentic and trusting the value you bring.
Approach others with genuine curiosity instead of a polished elevator pitch – asking what they do, what brings them here today, how they’re finding it and whether they’ve attended events like this before. Remember, everyone is there to connect, so conversation will flow from there.
Few things turn a networking event sour quicker than an unsolicited sales sermon, so try to avoid the “hard sell” approach. Building trust and rapport is your main goal here, not making a quick deal. However, while showing an interest in others is vital, you should still prepare a brief introduction to yourself and your business, so you know what to say when people ask.
Balancing business with banter
We’ve already covered why bombarding someone with a sales pitch is a bad idea, but avoiding work talk altogether is equally counterproductive to the essence of networking. Obviously, having a good time and making a good impression at a networking event is a big plus, but if you walk away without ever having discussed any potential business opportunities at all, then it has had absolutely no positive impact on your business.
The trick is to let work topics come up naturally. Asking questions like, “What projects are you working on?” or “How are things going for your business right now?” can open the door to meaningful discussions about problem solving, innovation and collaboration. Striking this balance helps you make the most of the opportunity without being push.
Have fun
Networking doesn’t have to be a chore, so try to reframe the way you think about it. Once you let go of the pressure to perform, you can enjoy the process and reap the rewards. It’s a chance to learn something new, challenge your comfort zone, and meet new friends (many of whom will be going through the same challenges as yourself). Approach networking with curiosity and enthusiasm, and your business will benefit.
One super easy introduction to networking is to attend one of the TEDCO Business Skills Sessions and Workshops, where you’ll meet other people who are new to business and new to networking. Connections will happen naturally and collaborations often ensue!