Networking is a mandatory activity for just about any professional, more so if you are an entrepreneur. Getting together once or twice in a month with people out of your immediate social and professional sphere can be both refreshing and highly educational. The insights derived from members in such platforms are valuable in resolving business challenges; service and product innovation; structuring operations and addressing growth issues.
Wrong Expectations
The mis-conception that one must walk away with handful of business leads in each networking session however, distracts networkers from the ultimate purpose to connect, establish and nurture relationships with individuals, groups and communities that are critical to their business. This is one of the reasons why many professionals abandon their networking platforms after just one or two tries.
The philosophy of networking no matter how professionally positioned, has a somewhat intrinsic social element to it. People expect to get acquainted with one another; get a good understanding of businesses present and engage in light conversations to establish contact. Surely, a sales pitch at this point will be a deal spoiler.
So, what to take away from a networking event?
Business contacts - it's not about collecting business cards but establishing initial connection and getting to know people whom can turn into partners, colleagues, customers, associates and investor. Over time, a contact funnel will begin to shape as some relationships mature and you begin to engage with connections out of the networking events for various business reasons.
Wrong Expectations
The mis-conception that one must walk away with handful of business leads in each networking session however, distracts networkers from the ultimate purpose to connect, establish and nurture relationships with individuals, groups and communities that are critical to their business. This is one of the reasons why many professionals abandon their networking platforms after just one or two tries.
The philosophy of networking no matter how professionally positioned, has a somewhat intrinsic social element to it. People expect to get acquainted with one another; get a good understanding of businesses present and engage in light conversations to establish contact. Surely, a sales pitch at this point will be a deal spoiler.
So, what to take away from a networking event?
Business contacts - it's not about collecting business cards but establishing initial connection and getting to know people whom can turn into partners, colleagues, customers, associates and investor. Over time, a contact funnel will begin to shape as some relationships mature and you begin to engage with connections out of the networking events for various business reasons.
Position in value chain - take note of where participants' businesses sit in the value chain (Industry, product, etc). This will be an excellent opportunity to identify collaborators to address product completeness, market expansion and specialisation issues. It is also a great exercise to pin down potential merger and acquisition opportunities in the long run.
Talent scouting - networking events are usually buzzing with great talents both business and technical. Take the time to get to know them, have conversations and keep tab of rare talents that you can tap, when you need them.
Business opportunities - attending networking events on a regular basis creates familiarity and opportunities to strengthen relationship with members. This leads to after meetings cooperations in the form of leads, referrals or even joint ventures. Networking moderators can support such activities by providing collaboration platforms and tools such as WhatsApp, messenger, FB and LinkedIn where business conversations can take place.
Like most good things, it takes time to work
Frequent networkers know that they need to 'sow the seeds' first before the big harvest. Not forgetting, that the plant needs nurturing between the sowing and bearing of fruit. Networking should be tackled in the same way. It takes considerable amount of time and consistent approach to derive value from a network. The only difference is; the experience itself is so rewarding, educational and fun, if embraced with finesse.
Here are some other good articles to brush up on the art of networking:
https://www.entrepreneur.com/article/314294 https://medium.com/swlh/9-benefits-of-networking-in-business-66b2445e6d84
