What Networking? - A five-minute guide...

Let’s begin by clearing up a common misconception, networking is not about selling. The most common issue I come across is that people expect to see an immediate ROI from their networking activity because they believe it’s all about selling. Factor in that most people don’t like being sold to themselves, and there’s a real disconnect between the perception and the reality.

Networking is about building and maintaining relationships – both personal and corporate. It’s about sharing contacts and knowledge without any expectation of anything in return. It’s about seeking out win/win situations and building social capital. One of my favourite definitions goes as follows: “Networking is any activity that increases the value of your network and/or the value you contribute to it.”

Consider this: we all network everyday without even being aware of it. Networking of one kind or another takes place whenever we engage with people; be it out shopping, at the gym or sports club, or the school gate. So, quite simply, anyone and everyone can and should network – we’re social animals after all.

Engaging with social media is networking online, it’s equally important but more on that later…

Tip: read “Return on Relationships” by Ted Rubin

There are a whole variety of reasons for engaging in networking but I’d say the two primary ones are business development and career enhancement.

Business development is traditionally focused on sales (new business acquisition and client wins) and measured in these terms. However business development should also be looked at in terms of creating a more profitable, resilient and sustainable business.

Focus on thinking about why people buy and, more specifically, why people buy from you.

People buy for one of two fundamental reasons: either to gain pleasure or to avoid pain (and sometimes for both!) Ask yourself which one your product or service aligns with most.

To buy from you they will need to answer three questions: do they perceive you to be competent (or better still an expert), do they perceive you to have integrity and, most important of all, do they like you? The last point is crucial and often overlooked and yet in most instances, it’s the primary reason we buy from an individual or company. Most of us are familiar with the expression “people buy people” but this should be extended to “people buy people they like.”

Tip: read “The Likeability Factor” and “Love is the Killer App” by Tim Sanders.

Networking allows you to build a relationship with your potential and existing clients so that they like you enough to buy from you, assuming they perceive you to be good and have integrity. Not everybody is going to like you, just as you, in turn, are not going to like everyone you meet. In fact it’s a waste of time and effort pursuing those you don’t like as you’ll end up with a difficult working relationship that won’t do either party much good.

Nurture the relationships you have with your existing clients who will not only bring you repeat business but also recommend you to others. It’s worth remembering here, that it’s five time as expensive to gain a new client as it is to maintain an existing one.

In terms of career enhancement networking is king. Many positions never get advertised. Companies will, in the first instance, look within their networks for suitable candidates or else may go down the headhunter route. Either way, ask yourself if you’re showing up on the right radars?

LinkedIn is the first place to get right. Most people look to build a network “after the event” (eg redundancy) but smart people will already have a vibrant network to fall back on. I would recommend getting on the radar of companies that you’d like to work for and have some strategic relationships in place. Get to events that they attend, “bump” into them and engage with them via social media. This means that if and when you need to approach them, you’re far better placed to succeed.

It’s a fact – people who network effectively tend to get head hunted more than people who don’t.

Networking is a tactic. For a tactic to succeed, having a strategy that fuels it and being crystal clear about your intentions, is key.

Because networking is time consuming and involves cost make sure that you network in all the right places. Too many people adopt a scatter-gun approach and consequently become disillusioned when they see precious few results. Remember also, it’s no-quick-fix. It’s a long-term strategy with, on average, an 18-month period between initial contact and fruition.

Work backwards and identify target client or companies. Be realistic and ruthless with yourself – can they afford you? Will you enjoy working with them? How good a fit are they? Who do they work with already?

Next, work out how to get on their radar in order to start building a relationship. Research is essential – gen up on social media, look at sector and area-specific events, and trawl your existing network for people who could facilitate introductions. Don’t be afraid to engage with potentially useful contacts on social media – comment positively and/or constructively on something they’re sharing, offer an interesting link or viewpoint. My first contact with travel and luxury brand PR specialists, The Massey Partnership, was via Twitter and they are now a valuable member of the Samphire Club.

For in-person networking, aim to attend the events you’ve identified, arrange introductions and always be prompt in your follow-up. I attended a conference with the specific aim of meeting Diane Burke who was then the Marketing Director at GWR, and is now a valued member of my network.

It’s also important to identify your super connectors – people who will help open doors for you. Super connectors are particularly prevalent in journalism, hospitality, PR and charity fundraising, to name a few.

Start with your own sector to ensure that you know the key players and become known as an expert yourself. Don’t fear the competition, seek to engage with them, support them and share your knowledge. And approach all this activity from a position of abundance, with a positive spirit. There’s always enough work to go round and some people you’ll simply never work with because the chemistry isn’t right.

Within and beyond your immediate circle, be consistent – attend events regularly and become a familiar face. Familiarity, in this case, breeds nothing but credibility! Put yourself forward, speak at events, contribute to debates and get yourself known among senior decision makers.

Cultivate an “always on” mindset. Awards ceremonies may represent a chance to let your hair down but they’re also great opportunities for making some high-level contacts – particularly the after-parties! Remember shared experiences bolster connections.  

And do consider arranging your own networking event – well-planned and executed, you take the lead and can have greater control of the outcomes.

Although it’s important to build specific networking activity into your daily schedule remember that networking is a state of mind, one where you should aim to ‘always be open’ to opportunities.

Embrace serendipity and have business cards with you all the time. Strike up conversations and see where they lead.

For social media I recommend at least 10 minutes minimum, three times a day but again, be strategic and judicious about your use of time – make (some) use of  automation and organisational tools, keep conversations going and be generous and supportive to others.

How much time you commit to in-person networking depends on your other commitments but it should become a seamless and central part of your business development strategy and culture.

Remember that adage – “everybody has something to learn and everybody has something to teach.” Embark on a learning safari, read books, blogs and articles, listen to podcasts and immerse yourself in TED talks.

Be curious. Think “what if,” “what next” and take an active interest in the people you meet. Always be asking yourself, “what and who do I know that will help this person?”

Be memorable: making an impression is vital. Paraphrasing Maya Angelou, “people won’t remember what you said or did, but they will remember how you made them feel.”

Most importantly, be nice and be prepared to ‘pay it forward!’

The Samphire Sacred Seven

And remember, everyone has something to learn and everyone has something to teach.