Networking: Basics or Bust!

How is your business going? I mean, how is it really going? Do you have all of the clients and revenue you desire, or are you struggling to generate what you know you want, desire and deserve to have? Have you ever wondered how the super-successful people in your industry seemingly golf, lunch, wine and dine their way to success? Have you ever wondered, “What are their secrets?”

The answer, of course, is YES! Of course you have! In order to create a business that’s referral based (the only kind to have, in my humble opinion), you must first master the fine art of networking. Having a tried-and-true method of networking that all but guarantees your success (the guarantee part requires you!) will get you off to a great start.

Set aside an hour this week to answer the following questions. In order to reach your goals and achieve your vision in the most effective and efficient way, you will need to evaluate where your business stands now – this is your Point A. Where you want to end up is your Point B. Obviously, the goal is to get there in the most efficient and effective way possible. In other words, is your network, and are your networking activities, consistent with the goals set forth in your personal business plan?

Definition of Networking -- net•work•ing (n t wûrk ing) v.: the exchange of ideas, information and resources

Networking will help you to: Find clients (present and future); Determine with whom you can create strategic partnerships; Develop a high level of name and face recognition; Work smarter, not harder; Get and stay on top; Build business and personal relationships; and Be the difference between mediocre and fabulous!

Evaluation Questions

Here are the questions to ask yourself before you get started:

• What are the strengths and weaknesses of my network as it relates to the goals set forth in my personal business plan?

• Do I need to sharpen my focus or have I defined my networking approach too narrowly?

• What value have I added to my referral sources and to my clients’ businesses by focusing on these networking activities?

• What value have I added to my personal/career development by focusing on these networking activities?

• What value have I added to my firm by focusing on these networking activities?

What’s working?

• In what networking activities have I engaged?

• What results have I achieved from my networking efforts (e.g. new clients, prospective clients, referral sources, contacts, friends, etc.)?

• What specific progress have I made on ongoing efforts?

• What specific progress do I see myself making towards the conclusion of these ongoing efforts?

• What other networking actions have I taken to reach the goals set forth in my personal business plan?

What’s not working?

• Have I lost any network members? If so, why?

• What changes can I make to prevent similar losses in the future?

• What internal or external obstacles are preventing me developing a strong network?

• Who can I contact for help?

• What, if any, items should I remove from my personal business plan?

• Who do I need to add to my network?

Once you’ve completed this inventory, you’ll have a sense of where the networking and marketing gaps are in your business. In Networking: Are You Ready? I focus on what you’ll need to do to prepare yourself from a mental standpoint for all of your upcoming networking events (read that article once you’ve done your inventory and determined your Point A).