The Benefits of Business Networking

If you are an entrepreneur, small business or planning to set up a new business it's worth joining a local business networking group. In simple terms this is a group of people who run their own companies (or represent a company or franchise) and work to help each other out through their connections. In order to get the most out of it helps to know what networking is and what it can do for you (and what you can do for other members).

The Right Networking Group

The first thing to consider is the kind of networking group you want to join. Some are very loose and informal while others will have a more rigid structure. Some people prefer the rigid structure because they know the rules and people have to follow certain procedures and guidelines. For example some are very strict with regard to who can be members with only one member allowed to represent one type of company.

The theory with this is that people are more likely to use each other's connections if they are not in competition. Other organisations believe competition is healthy and indeed in some cases similar companies can work together in order to get more work and to benefit each other in a positive way.

There is no right or wrong as such. Most networking groups allow you at least one free trial visit so you can gauge whether or not the group feels comfortable and works for your particular needs.

Networking Effectively

In order to network effectively you need to approach it in the right way. It is about developing relationships and making connections. While you may get some sales on a first go what is more likely is that it will take a bit of time to get to know them and how they can help you and you can help them.

The latter is a crucial consideration. You need to think how your experience or service can benefit another member of the group and if not whether or not you know somebody who can benefit them as well. The benefit of this is that people will then encourage other members to use your services because you are prepared to work hard for them.

Over time it will then become easier for people to know you and vice versa. As new members come in equally you can do the same and help them.

Office Party

One of the problems of setting up your own company is that you are often alone. To start with you are unlikely to have employees as such. This can limit the amount of time you spend with other people and it can make you feel more isolated, something that often leads people to quit working for themselves in order to go back to paid for work.

Business networking can fill this social hole. You have an event you can go to on a regular basis and there are people you can talk to who are in the same situation. There is the chance to relax and discuss work in a way that would be more difficult otherwise.

The Main Benefits

The main benefits of business networking for a new business are-

• Increased range of potential clients
• More connections
• Get to know people in the local area
• Develop your self confidence
• Learn from experienced business professionals
• Social events

In short if you are setting up a business for yourself then it helps to get support and this is the best way to get the connections you need to develop. Look online to see what is available in your local area and find the best groups for you.

How to Think your Pitch Strategy

I recently read 'Pitch Anything' by Oren Klaff, whose impressive credentials in the business world include raising more than $400 million.  A highly recommended read that will make you look at pitching in a whole new way.

The thing that came to mind, as I was absorbed and fascinated by the methods he shares, was – you’ve got to have some real guts to take this on.  There are persuasive, quick thinking and on the spot tactics that come in to play, and that he describes brilliantly.

Which got me to thinking that how to pitch anything really starts with first having guts.  But what does having guts look like? Learning to get comfortable with presenting with guts means being able to take control and influence your outcome with a calm assertiveness. I broke it down to mastering the following key criteria:

Be Bold

It is not a congeniality contest. The goal is not to be nice and get people to like you. Know what you came in the room to do and present yourself and your pitch with conviction. Keep an unerring focus on the prize – i.e. leaving with what you came to achieve. And be compelling and clear when asking for what you want and why you should get it.

Be In Control of the Room

When you walk in to the room very quickly assess the interaction between key players. Stay attentive to their body language and actions during the presentation so that you can hold their interest in your pitch. At any point that you feel you are losing ground, don’t show that you are thrown off course. Take a couple of seconds if you need to and come back with something compelling to reengage. It requires thinking on your feet, which you need to get good at.

Stand Your Ground, Calmly

This does not mean that you ignore or not welcome feedback. It means being able to handle feedback with calm and confidence. Also, not allowing yourself to get thrown off your pitch or led into a direction that gets you off track from your goals. It goes back to maintaining control - first of you and, in turn, of the room.  Take a quick moment to collect your thoughts and reclaim your focus.

For an outstanding approach that breaks down dynamic methods for pitching in any situation, pick up a copy of Klaff’s book 'Pitch Anything.' It will help you think your pitch strategy at a whole different level; and get you used to presenting yourself a winner – and winning!

10 Tips for LinkedIn Business Growth

Many companies sign up for a LinkedIn presence but then do nothing to optimize or utilize it. Yet, LinkedIn can go a long way toward bringing in new leads and sales, and ultimately toward boosting the company’s sphere of influence, depending on the business and how willing it is to invest in LinkedIn as a viable resource for strategic growth. 

Simply setting up a LinkedIn page gets you nowhere. You have to strategize, and you have to be diligent to tap in to the immense potential for business development.

Here are 10 tips that can help you invest your time and efforts for growth.

1.     START OFF COMPLETE

Before you begin to promote your LinkedIn page, you need to make sure you have something that’s actually worth promoting. That means taking the time to complete the profile, ensuring that you provide thorough and detailed information about your company. Ensure that there is a professional-quality photograph or image, as well, because good visual branding increases consumer trust.

2.     DOUBLE UP PROFILES

Create both a personal page and a company one. Whether you’re the CEO of the company or simply a consultant, you need to have your own page through which you can project individual authority—but of course, a company page is also vital. Make sure that your company page includes all pertinent data about the business, including the number of employees you have.

3.     PROMOTE THE COMPANY PAGE

If you’re going to be really investing in using this page as a tool for online branding and business development—which you should—then it helps to take the time to let people know it’s there. Include a link to it on your company website and on your Facebook page, and also in e-mail signatures and on business cards.

4.     BUILD YOUR NETWORK

LinkedIn will automatically recommend people for you to add to your network, simply based on the content you already have in your profile. The more connections you build, the more your customers and potential customers will see that you’re reputable and authoritative. Regularly search for contacts, import contacts from your e-mail address book, and use the recommendations that LinkedIn offers.

The contacts should not all be from the same industry. Let’s say that you own an advertising firm, you want to have connections from within the world of advertising, but you also want to have connections with realtors, and lawyers, and small business owners who might need advertising services. You’re not doing your company any favors by remaining within a small bubble.

5.     JOIN GROUPS

Join groups with high numbers of participants, and ensure that you’re in groups that are both directly and tangentially related to what your own profession is, for maximum impact.

6.     GET RECOMMENDATIONS

A recommendation is one of the best things you can get for engendering trust and goodwill from potential customers and clients. As such, it is very much worthwhile for companies and professionals to actively solicit recommendations from customers who are satisfied with the work done or the product provided.

7.     SEEK OUT AND CONNECT

Use the platform’s search feature to seek out people to connect with. Looking for a new employee? Don’t wait for him or her to find you. Search for someone who fits your job description and send a personalized request to connect. LinkedIn’s search tool is extremely effective, so use it!

8.     INCREASE PRODCUTIVITY WITH THE MOBILE APP

Business professionals can increase their productivity by using the mobile app. Access LinkedIn while you’re riding the subway, waiting for an appointment, or taking your lunch break. Approve new connections and take care of other housecleaning items during your down time.

9.     MAKE REGULAR UPDATES

Regular status updates can make any LinkedIn page more effective, and a good way to increase those status updates, fairly easily, is to tie in the company Twitter account. Integrating these two social platforms is a great way to really get more bang for your buck, in terms of those updates you’re writing.

10.   INCORPORATE THE COMPANY BLOG

As of fairly recently, LinkedIn has produced a way to automatically feature blog updates (you can manually enter them, as well). Make sure your company blog is linked from your profile page, perhaps with an attention-getting and descriptive title to keep your latest messaging and updates in front of your key business contacts.