Page 1 of 3 Copyright © Carl French Replico Ltd 2010

Getting The Best Out of Networking “It was like bathing in Shark Bay!” That’s how a friend described his experience at a networking lunch he attended some time ago. If you guessed from his description that he is a manufacturer you would be dead right. The “Sharks” were the consultants he encountered. Have your experiences of networking events ever been like those of my friend? I know I’ve been to some very similar events. Fortunately, networking doesn’t have to be anything like that. So, what are your alternatives? One obvious alternative is just to stay away from events. That could be an expensive decision though. Compared to other methods of finding new business, networking is one of the most cost effective available. These days, mail shots often have response rates well below 1% and the number of customers generated from an advert costing hundreds of pounds can be tiny. Alternatively, you can attend a whole series of networking events for the same money. If you pick the events well, they’ll probably be good value for money, even if you don’t get any business. For example, networking is also one of the most effective ways for you to find the best suppliers. So, how do you pick the right events for you? I know it’s simplistic but I divide all business networking events into two types - those that are primarily designed as networking events and those that have some other purpose but which nevertheless provide some networking opportunities. For events that are primarily for networking I want to know whether or not the event has been properly designed to suit its purpose. I look for evidence that there is an agenda that facilitates the networking. In my view, the agenda must ensure that each and every person gets a chance to get to know and be known by a number of other people. For me, the “Shark Bay” syndrome is a symptom of a badly designed networking event. The most tightly structured networking events I have attended are the weekly breakfast meetings run by BNI (Business Networks International) www.bni-europe.com/uk/ and BRX (Business Referral Exchange) www.brxnet.co.uk. The former has its root in the USA and has a “rah rah” style that can be a bit OTT for some – but it doesn’t half generate the referrals. BRX is a UK organisation, based in Hertfordshire. It’s similar to BNI but has more of a UK style of operation. These groups operate a “lock-out” whereby only one representative of each discipline may be a member of a group. The choice keeps extending too. A relative newcomer but growing very fast is 4Networking. See www.4networking.biz . It has a well defined but more relaxed breakfast meeting agenda and always includes a short talk (not a sales pitch) and a series of short one-on-ones. Meeting are every other week and members have a “passport” whereby they can visit other groups. There is no lock-out system. Another even more recent arrival on the network scene is netLinked. Visit www.netlinked.co.uk . To the best of my knowledge this is the only networking group that is specifically designed to combine face-to-face networking with on-line networking (using LinkedIn www.linkedin.co.uk) . Members receive a series of training sessions with a particular emphasis on exploiting LinkedIn plus there are

Page 2 of 3 Copyright © Carl French Replico Ltd 2010

mini-training items at each meeting called “netLinked Lightbulbs”. Group meeting are every other week and netLinked operates a scheme similar to the 4networking “passport”. Meeting vary form group to group in terms of when they are run. So you have a choice of breakfast, brunches, lunches and dinners! Weekly or event fortnightly attendance is a big commitment of course. One survey indicated that by far the most popular frequency for network events is monthly rather than weekly. There are several in Hertfordshire. The IoD Herts branch runs an open monthly breakfast networking in Hatfield and a bi-monthly one near Luton. At www.iod.com click on the local network tab for details. If you prefer lunchtime and you run an established medium sized business you might consider Entrepreneur’s World (www.entrepreneursworld.biz ) Chambers of commerce often run a variety of networking events. It’s worth checking your nearest branch. What about events that serve some other purpose and merely include the opportunity to network? I’m a sucker for any event that has a good speaker or that gets me into somewhere I’d not normally be able to see. I know I’ll learn something worthwhile. I also know that such events create the kind of atmosphere where it’s so much easier to get to know other people – and the chances of seeing new faces is much higher. “The HertY breakfast” also run by the IoD Herts is one I was involved with. The number of people attending can be as high as 200. That means that regular attendance will help you get to know a lot of other business people. So, the right kind of events can create the opportunities but who gains from them? The people who appear to gain most from networking events are those who attend regularly and contribute. They know that networking is about “farming not hunting”. Rather than turn up with a case loaded with business cards, all ready to bag a few sales in one meeting, the successful networkers plant the seeds, nurture the growing business relationships and know that in time their efforts will bear fruit. It’s astonishing to see how well it works sometimes. Someone who joined one of the weekly groups I was in told me he had quadrupled his turnover as a direct result of joining the group – in six months! A member of another group gave a very good tip at one meeting and got 37 new business leads as a direct result in the next week! Here’s a key point. Attendance is not enough. Going to networking events is useless unless you participate in an effective way and follow through after each meeting. Here are a few useful things I’ve learned from watching veteran networkers. The most useful advice I’ve heard is “you have to concentrate on being interested not interesting”. All I can add to that is you must be genuinely interested in what the other person says and does. I can honestly say that I don’t find that difficult. Perhaps the reason is that I once heard another tip which was “you’ve heard yourself many times before, so you’ll gain much more if you shut up and listen to someone else.”

Page 3 of 3 Copyright © Carl French Replico Ltd 2010

The most obvious advise is to make sure that when you’re asked the standard network question “What do you do?” you give a good answer. Perhaps one of the best known, and worst answers, starts with “I’m only …”. I think I’ve heard “I’m only an accountant” more than anything else. Do yourself a very big favour and spend some serious effort on developing a good answer. Don’t even try to summarise what you do – it isn’t what people want to here! Try to say something that gets the conversation going that is more of a hook than a statement. Just about the last tip I have space for is to make good use of business cards. This starts with – “it’s the cards you collect that count not the ones you hand out”. When you do collect a card make sure you record relevant details on the back. As for your own card – does it really convey what it is you do and create the right impression? Oh, and if you want an easy way to transcribe all those cards onto your computer into something like Microsoft Outlook take a look at www.frankfurness.co.uk where usually there’s a card reader on special offer – in among some great sales ideas. So why not take yourself off to a networking event you’ve not been to before. Avoid the Shark Bay variety. Prepare yourself so that you can say what you do. Then, see how long you can last before you say it, by asking others the same question before they ask you. Go back again and again. You’ll get a wonderful result before your seventh attendance. Carl French Carl French is a director of Replico ltd, specialists in business growth through replication methods such as licensing and franchising (www.replico.biz) Carl for many years ran networking events on a voluntary basis for the IoD in Hertfordshire and ran the very first pilot group fro netLinked. Copyright © Carl French Replico Ltd 2010