Partner Article

Business networking- waste of time or useful resource?

I was chatting to a business owner at an event recently who boldly told me that networking was a load of rubbish as he so eloquently put it. He’d tried it a couple of times, he said and it didn’t work!

To start with, it was fairly ironic that he made his comments at an event which was by its very nature a networking event. But what was clearly apparent was that he just didn’t get it and didn’t want to get it.

It turns out that after further investigation he revealed he had been to a breakfast networking event once and ‘got nowt’ and he’d been to a lunchtime seminar that was a ‘waste of time’.

Quite what he expected is beyond me. Did he really think that showing his face would encourage a close network of business associates to start throwing business leads at him across the table!

Networking is about building relationships and trust – not turning a quick deal.

Over the last 10 years networking has developed massively within the region as a viable way of building any type of business, however a number of sectors still feel they don’t benefit from this activity.

Certain industry types see it as the ‘old boys network’ or the place for ‘suits’ to chat and swap business cards, but is that really still the case? Opinions differ massively on this subject but generally I find lots of folk value networking, can see the benefits but don’t do it for various reasons.

I believe and perhaps I am biased that you can build an entire business on networking as a sole marketing activity. Being a collector of people (or being well connected) is paramount to the success of developing referrals, contacts, synergies and communication. Building a personal network or ‘Sphere of Influence’ of contacts is by far any business person’s strongest asset. Skills, education, abilities count for little if a personal network is not present.

I hear all the time from lots of people that their business comes from ‘word of mouth’ but when I ask what is your strategy for developing more referrals from this source most just look at me with a perplexed glare. In other words, they don’t have one nor have they ever thought about it or what it takes to develop, it’s often easier to dismiss it as pointless or time consuming exercise despite the rewards of exploring this system further.

What is holding you back? A question I asked someone (not the ‘eloquent’ business owner), at a recent event, they pondered for a moment and then answered with a ‘me, I am holding me back’, that applies to most people that don’t understand the true meaning or value of business networking. I ask you the same question ‘What is holding you back?’

This was posted in Bdaily's Members' News section by Marc Gordon .