networking book
DESCRIPTION
Lisa Reynolds runs Let Me Do That For You. More than fifteen years' business experience in a broad range of industries, disciplines and sectors has made Lisa a natural troubleshooter. She has an uncanny knack for identifying simple but highly effective ways to make systems, processes and procedures work better. With a keen eye for marketing and communications, she's known for spotting new and missed opportunities across vertical and horizontal markets, customer groups, marketing and sales strategies.TRANSCRIPT
About the Author
Lisa Reynolds, Business Support and Development Expert
Lisa Reynolds runs Let Me Do That For You. More than fifteen years' business
experience in a broad range of industries, disciplines and sectors has made Lisa a
natural troubleshooter. She has an uncanny knack for identifying simple but
highly effective ways to make systems, processes and procedures work better.
With a keen eye for marketing and communications, she's known for spotting
new and missed opportunities across vertical and horizontal markets, customer
groups, marketing and sales strategies.
Based by the sea in Brighton & Hove, East Sussex, Lisa helps local businesses of all
shapes and sizes rationalise their working spaces, set in place rock solid business
systems, discover fresh revenue streams and see the marketing wood for the
trees. Whether a business's website needs critiquing from a visitor perspective, a
company needs their sales support systems to work like clockwork or a firm's MD
simply doesn't have time to get important stuff done, Lisa steps in.
To Network or Not to Network?
A quick 'n' dirty guide to the ins and outs of face‐to‐face business networking
Some people are convinced that small businesses simply cannot succeed without
networking. Others believe it's easy to build a thriving business without any kind
of human interaction. So who's right? What are the ins and outs of networking,
and the pros and cons of face‐to‐face interaction with your fellow business
owners?
The basic pros and cons are fairly obvious.
Business Networking Pros & Cons
Networking :: The Benefits
You meet fellow small business owners in person to exchange news, views
and tips
Some of them become customers
Others tell their colleagues, friends and acquaintances about you
You can set up financially advantageous agreements between you
You keep a finger on the economy's pulse and stay abreast of the markets'
moods
If you work alone or from home, you get to speak to other human beings –
it keeps you sane!
Ideas and inspiration can really sparkle at a lively networking meeting
There's a collection of like minded people to turn to for advice and support
You can steadily grow your reputation within your local business
community
Networking :: The Downside
Joining a network or business club can be expensive. Some charge £500 to
£1000
You can't easily tell whether the network you're joining will suit you until
you join
Some networks are too sales focused – all members do is try to sell to each
other and it can get very insular
You have to make a regular commitment to attend, often outside normal
working hours at inconvenient times like early mornings, weekends and
evenings
There isn't always a clear and direct financial return on your investment
You might have to grit your teeth and be sociable when you're just not in
the mood
You might end up spending more time preparing for networking meetings
than getting down to actual business
You're selling yourself and you're highly visible, so you need to look and
sound the part at all times!
Having said that... there's nothing quite like getting information straight from the
horse's mouth. The best way to find out the facts is to ask. Here are the
contrasting views of two successful small business owners.
For… Welcome Nick Harvey from Harvey Marketing: marketer, prolific networker and
networking mentor...
“Networking is an incredible tool for generating business in my opinion, and something which helps businesses understand the different business types that are out there. Success in networking isn’t guaranteed, though, and it depends to which business type or industry type you are operating in.
Networking enhances the process of relationship marketing and relationship building, whereby every contact could possibly become a buyer of your products or services. On the other hand, these contacts could become sales ambassadors for your business.
With all this in mind you have to ask yourself four key questions: Is people's perception of what I’m presenting as positive as it can be? Is there an opportunity to follow up on this contact? And is this the right networking event for me? Do I have the ability to spot networking opportunities and convert them into sales?
Some people don’t network and they're still incredibly successful. Some people don’t network and win very little business. Personally, I generate about 50% of my business through networking and the other 50% through referrals.
Networking also helps you develop as an individual as well as enhancing one's ability to communicate. Strong communications are so important in business and many people don't have the skills needed to pull it off.
I actually offer marketing mentoring, where I guide clients through networking situations to help them become more effective at building relationships and closing sales. I also host the Brighton Business Curry Club, which attracts around 50 networkers on a monthly basis. It's clear that people are winning business by attending these events as they develop their profile in the marketplace.
Overall I highly recommend networking. It helps me maintain revenue levels in my own business and my clients’ businesses’ as well as supporting my profile in my chosen business markets.”
Against…
Welcome Kate Naylor from Help in the City: seo copywriter and copy editor and
direct marketing expert
“I agree with everything Nick says. There's no doubt that networking works. For some people. But I think it's a case of horses for courses. I believe it's one element of a complex marketing mix that small business owners can either take or leave, depending on their natural inclinations and business plans.
In my view a person's willingness to engage in networking comes down to personality type. I'd rather swim in shark infested custard or pick a fight with King Kong than than meet a room full of strangers. I run my business almost exclusively by email. I very rarely meet my clients in person – in fact I think I've met a grand total of three people in the last four years ‐ and I've never networked, face to face or otherwise.
Because I'm a firm believer in building my strengths rather than trying to fix my weaknesses, I've avoided networking. Instead I've built up my freelance business via direct marketing and search engine optimisation.
It took me three months from first setting up in business to win my first project. From then on it has been relatively plain sailing. From month 6 onwards I had a steady stream of work. During the four and a half years I've been in business I've increased my hourly rate twice. As a result my net income has crept up in satisfying leaps and bounds year on year.
I'm aware that I've got a few advantages over most people. I worked in direct marketing for many years so I know how marketing works and I have strong connections in the SEO industry. So marketing my business on a DIY basis comes as second nature. As far as my market profile and reputation are concerned, my website speaks for me and my work speaks for itself.
Instead of networking I spend an hour a day marketing my business. It costs very little, usually nothing more than my own time. I have nothing but admiration for successful networkers but I also know it's easy to succeed without it.”
How to Decide if Networking is for You
The best way to see if you'll benefit from ‐ and enjoy ‐ face to face networking is
to suck it and see! But it's useful to ask yourself a couple of key questions first.
Are you naturally outgoing or more reserved? Do you love joining in or do you
prefer to stay on the sidelines? Weigh up your discomfort levels and decide
whether the benefits of networking are likely to outweigh the damage to your
peace of mind! If the thought of networking makes you wince there's a wealth of
excellent information online about DIY marketing. Or, if you'd like to improve
your networking skills, find an expert mentor.
What exactly do you want to achieve, in concrete terms, from face to face
networking? If you're selling business to consumer you might be better off
investing in consumer marketing via website optimisation, email marketing,
direct marketing and whatnot rather than networking with fellow business
owners. On the other hand if you're selling B2B, networking could be the perfect
way to win business and grow your reputation within your target markets. If
you're an international business you might not focus on local networking. But if
you want to make inroads into a local market, networking could be your best
asset.
Types of Business Network
Business networks come in all sports of flavours. Here's a taster. In every case it's
best to check that the network you're about to join gives you at least a
reasonable chance of recouping your investment.
Free networking meetings: These are often held in pubs. Usually open to all
comers, they're generally free. Unless you're lucky and have a very confident
facilitator this style of business networking event can soon descend into chaos
and, with drink involved and no schedule or timetable, it's not always easy to
establish the actual benefits. Unless you just need to talk to other like minded
business people to let off steam, it probably isn't your best bet.
Rigid paid networking clubs: This is paid membership with sector exclusivity. If
you're a design agency you'll be the only design agency on board, which gives you
the floor and maximises your chances of selling to other network members and
more importantly, to the people they know. Because they're so focused on other
members being a ‘salesperson’ for your business, if the other members of your
group aren’t proactive then your investment can yield little or no return.
Flexible paid networking clubs: This is paid membership with no exclusivity. You
might be one of ten design agencies belonging to the same network. It's good to
consider whether you're confident enough in your goods and services – and have
the sheer energy and ingenuity required ‐ to compete head to head against nine
others in your sector every time you meet! This approach is probably best if you
want a tribe of like minded people to chew over the ins and outs of business with
rather than a hotbed of red hot leads.
Industry specific networks: These are dedicated to members in a certain industry
sector. Wired Sussex, for instance, is for people in the creative, media and
marketing industries. Yes, you're surrounded by people in the same sector as you,
many of whom are in the same situation. But that means, again, you're
competing against each other for business. The real strength of networks like this
is the moral and practical support provided by members.
If you want to target a specific market sector it's sometimes a good idea to join
their network... if they'll let you! If they suspect you're only there to sell they
might object. But if you can pull it off you'll be in a great position, surrounded by
hot prospects, in front of a captive audience.
Choosing the Right Business Network
Here's some sensible things to consider when choosing a business network:
What style of network is most relevant to your business?
Which local networks have the best reputation?
Are meetings held in a convenient place or will the journey become a
burden?
Can you try it for free before you decide to join?
Can you talk to a few existing members, either on the phone or by email,
to get their feedback before you join?
Can you get a pro rata refund, or any refund, if it turns out you're not
happy?
Is there any concrete evidence of the network's short and longer term
financial benefits?
When was their website last updated? If it's lying fallow the network
might be in poor health
Networking Etiquette
It's worth familiarising yourself with networking etiquette before taking the
plunge. Make sure you've got your ducks in a row before you attend your first
meeting or event and you'll find the whole process a lot smoother and more
enjoyable. Here's some useful tips for making a splash at your networking debut.
Think about how you'll be perceived
Business networking is high visibility stuff. You're under close scrutiny at every
meeting. You're there to sell your wares to fellow members, impress them
enough to turn them into an advocate for your business and assure them you're a
professional. Here's a few simple ways to make a good impression and boost your
confidence.
Wear clothes that make you feel relaxed, comfortable and in control
Prepare yourself by deciding exactly what you want to achieve from each
meeting
Establish one or two simple, achievable objectives for each meeting ‐ don't
overload yourself
Keep it short and sweet...
If you can't do it already, teach yourself how to explain exactly what you do in
less than 10 seconds. Work out the best way to express it on paper and keep
editing until you've got it right. Then practice in front of the mirror until it trips
off your tongue without having to think about it.
Don't smash and grab!
There's nothing worse than business card smash and grabbing. Just chill. One of
the biggest benefits of face to face networking is the relationships you create, not
the sales you make. Try not to be overtly salesy – it can be very off putting ‐ and
don't expect to win hard business from every meeting. Have patience, take
advantage of members' expertise, get to know people and sales will eventually
follow.
Maximising your networking opportunities
If you're not a born networker it's easy to fall into the trap of sticking with your
friends at meetings and playing safe. Grit your teeth and work the room instead.
That's what you're there for. Bear in mind that most people are probably feeling
the same as you. And realise that even though you feel nervous, you almost
certainly don't look it.
The laws of physics say there's a bore in every network. You need to know how to
ditch the network bore politely but firmly so you can make the most of things. Try
introducing them to someone else. Go to the loo. Or apologise and explain
there's someone else you need to have a quick chat with.
Following up
It's good to keep in touch. But it's best not to follow up a positive meeting of
minds with a raw sales pitch. Take it easy. If you've been given a bunch of
business cards drop everyone a friendly, low key line just to say it was good to
meet them. Just something light to jog their memory.
How to Craft a Compelling 60 Second Presentation
Many business networks involve you giving a weekly 45‐60 second presentation.
There's an easy way and a hard way to do this. Here's the easy way!
Tailor your presentation so it supports the aims you've set yourself for
that particular meeting.
Pick one strong argument, concept or idea rather than trying to cover too
much in one go.
Format it with a distinct beginning, middle and end so it's logical and neat:
introduce the concept, give details then summarise.
Avoid jargon.
Focus on the benefits of your product or service rather than the features
and you'll make a much bigger impact.
Be creative. Rope your friends and family in and get them to dream up
ideas for presenting your wares in exciting, innovative ways that'll inspire
your audience and ensure they'll never forget you.
Take care with humour. There's nothing worse than presenting to a group
that's suffered an enormous sense of humour failure, or who just don't
'get' it!
Practice your presentation until you're fluent.
Time yourself until the length is perfect.
Use a mirror so you can see whether you've acquired any tics or fidgets
that betray your nerves. Being aware of them makes it easier to stop.
Perform the finished item to a friend or partner and get their feedback –
it'll boost your confidence.
The night before, visualise yourself making a superb job of your
presentation as you go to sleep. There's strong scientific evidence that it
helps!
Bear in mind that very few people enjoy speaking in public. It helps to
know you're not the only person feeling jittery.
Take slow, deep breaths to help settle any nerves.
Make sure you speak steadily and clearly. Don't gabble.
Be prepared to answer questions. If you don't know the answer, don't
pretend... admit it.
Be generous with your praise for other people's presentations and you'll
be more likely to get a positive reception yourself.
In Summary
Business networking is a growth industry and there are literally hundreds of
business networks running in the UK. It's a great way to get involved in your local
business community, make sales, get support and advice and make useful
contacts.
If you're not a natural networker there's plenty of help and advice online about
improving your skills. And there's expert person‐to‐person support available from
networking mentors.
You can even consider creating your own network, say for your village, suburb or
town.
While it's a useful element of the marketing and promotional mix, face to face
networking is by no means essential. It's a personality thing. If you'd rather eat
worms than join a business network, DIY SEO and marketing might suit your
personality better.
If you decide business networking is for you, take the time to research which is
most likely to give you the results you need as well as a network that suits your
pocket and your style.
Copyright © Let Me Do That For You All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means without written permission from the author. Let Me Do That For You t: 01273 748733 e: [email protected] w: www.letmedothatforyou.co.uk