The basic networking premise is: you scratch my back, I’ll scratch yours : but will it happen? In the networking groups we belong to, there’s a presumption that leads will happen, but in my experience that’s not necessarily so. How do we increase the odds of getting payback from the networking groups we’re in?
Find the right group. Be clear about what you’re asking for. Make the rules explicit. Keep searching until you solidify your connections with the right networkers for your company.
Think Team. You can cover a lot more ground with a team, than you can alone. So build one. And then get out on the field and practice together.
Always keep your eye open for quality lead generators who are traveling in your customers’ world, connecting with your top contacts. If you have networkers who don’t belong on your team, ask them to step aside. Create room for lead identifiers who are a better fit.
Stop wasting time and effort hanging out in networking groups that are wrong for you. Set criteria of what makes a good networker. Here is my company’s criteria:
- calls on our target market, at owner level
- used to connecting with 3+ new leads / week for their own business
- produces a minimum number of networking leads / month
- comfortable letting their contacts sort out if it’s a fit
- have clout with their contacts, can make a meeting happen
- willing to follow up on a meeting, help move promising things forward
Get beyond excuses. I often say that if I want to find a lead for someone, I can find it in the line at the grocery store. All I have to do is keep my ears open and be willing to put myself out there. Don’t expect anything less from your networking partners.
It’s frustrating to be in a group that doesn’t produce leads. Maybe you’re in business-to-business sales and the networking group is dominated by people selling to consumers. Many unproductive groups have members who like hanging out together, but who are not good at creating opportunities. Check on the lead frequency and quality, and target market focus of any group you’re considering joining.
If you want to try organizing your own group, start simple. Invite a few people to breakfast. Talk about who each calls on – look for the same target companies, and level of contact. Look for hunters who turn up leads all the time, and who are comfortable passing those contacts on so you can do the farming. Set up a farming routine to follow up on opportunities that need work before they’re ripe.
Check on introduction expectations. Some people will make introductions and let the chips fall where they may. Others want to know everything there is to know about a company and it’s product or service before even considering giving out a lead. Some want to go along on introduction meetings, others don’t have the time. What works for you?
Be clear about your needs. If you want to see 3 leads / month, say so. Ask prospective networking partners to cite examples: when they’ve produced leads in the quantity you’re looking for. Ask for specifics about who they refer, and why. Listen carefully to the story behind the story. Does it match your circumstances? Treat these discussions like job interviews – you’re looking for the best networkers for your company.
Be patient and persistent. It takes time to build a circle of influencers. Keep looking for “A” players. Steer clear of excuse makers, passive players and people who promise but can’t deliver. You’ll find that being connected to people with a steady flow of introductions, whose contacts regularly turn into business, is like tapping into a gold mine.
Once built, with a little regular nurturing, a networking circle can be a productive source of new business opportunities. Plan to meet regularly to reinforce the connection, exchange leads and talk about how to improve results. Keep the focus on why you’re there: to build each others’ businesses.
Looking for a good book? Endless Referrals, Network Your Everyday Contacts Into Sales, by Bob Burg.
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Andi Gray is president of Strategy Leaders Inc., www.StrategyLeaders.com, a business consulting firm that specializes in helping entrepreneurial firms grow. She can be reached by phone at 877-238-3535. Do you have a question for Andi? Please send it to her, via e-mail at AskAndi@StrategyLeaders.com or by mail to Andi Gray, Strategy Leaders Inc., 5 Crossways, Chappaqua, NY 10514.
