Networking... 10 Reasons Why It Doesn't Always Work
Networking groups are springing up far and wide and consultants are being told the most effective method of securing new business is to build long-term relationships through word- of - mouth marketing. BNI (Business Network International) BRE (Business Referral Exchange), BNL (Business Network Lunch) CLBN (Central London Business Network) are just four examples of groups opening new branches almost weekly.
So why does attendance at these gatherings produce disappointing results?
Let us explore.
1) ACTION OR REACTION?
If the consultant has plenty of work or lots of referrals, why bother leaving the comfortable confines of the office? Clients will get referred and new business will result nonetheless.
“I don’t need to go hunting, I’m happy as a Cave Dweller”. “I’m far too busy to waste time going to those “do’s” it never produces any business”.
Networking doesn’t work when the wrong attitudes are entrenched in the first place.
2) COMFORT ZONES
Professionals are trained as technicians and it is anathema to sell, promote or market. “Sell, me sell? Surely not, I’m a professional”, “I am a trained specialist and when people know this I will get work referred to me” or “we have a marketing department for that” are three phrases which trip off the experts’ tongue.
In the presentations, workshops and training I delve deeply into these comments and ascertain these reactions are invariably due to a universal lack of self-confidence. Where, oh where, is the rounded consultant who feels comfortable in new company and who understands the basics of what makes a good sales professional?
Networking doesn’t work when consultants do not want to stretch themselves by moving out of their comfort zones.
3) BUILDING RELATIONSHIPS
“Hello, nice to meet you, will you do some business with me please?” Too many consultants do not seem to understand that building long term, stable and comfortable relationship requires work and dedication. When a relationship has been built through mutual trust, respect and liking, the end result will be a long and fulfilling business association. There are 7 steps to climb to achieve this business alliance.
· Unaware to aware
· Aware to curious
· Curious to interested
· Interested to wanting
· Wanting to buying
· Buying to satisfied
· Satisfied to the creation of a raving fan
Networking does not work when persistence and perseverance is missing.
4) CONSCIOUS AND ALERT
Where is there business? The answer to this question is ‘everywhere!’ If consultants are truly hungry for new contacts leading to new fees, they must be constantly aware by listening for obvious and not so obvious opportunities.
Everyone should view themselves as a TV switched off at the remote control. Have your mind in a similar state to that little red dot…always be on stand-by! When you listen attentively for opportunities, they will be there. They are on boats, trains, planes, in queues at weddings and all social functions….Just be friendly, chat ask questions, listen and do the last of these actions attentively.
Networking does not work if one switches off or fails to remain alert.
5) TIME AND SPACE
I invited someone to a networking event and the reply came back “I’m sorry, I am unable to come due to work commitments”. Until consultants realize that networking and working the room IS work and is as important as finalizing the deal, then networking will be seen as a waste of time.
When consultants stand back and assess some of their current clients, realizing how unprofitable they really are, they begin to think laterally. “ If I get rid of these clients who
· Pay late
· Never refer others
· I don’t really like or trust
· Are BMW’s (bitches, moaners and whiners)
…then I’ll have more time to go networking for new ones where there is mutual benefit.”
In my latter years in accountancy, I sacked my biggest client who fulfilled all of the above criteria. In the following year, my portfolio increased by 20% simply because I had created the space to hunt for potential new clients.
Networking doesn’t work when professionals spend too long working with the wrong clients leaving no time to seek out the right clients.
6) THE FIRST STEP
The likelihood of doing business with people we do not know is remote! You are invisible and your product is invisible! There are only 2 groups in business; those we already do business with and those with whom we wish to do business. Effective networking is persuading the 1st group to introduce us to the 2nd group.
If that does not happen as often as you would like, then there is another way. It’s hard, it’s uncomfortable and it can be scary but it must be done! You have to be proactive and must take the first step. “Hello, may I join you? My name is Mary and you are?” “I’m John”. “Hello John, nice to meet you, how did you get to be invited here”? Greeting a nervous person standing on his or her own will ensure that you become an instant favourite.
Networking doesn’t work when people wait and expect others to make the first move.
7) FIRST IMPRESSIONS
The H.R. (Human Resources) profession will tell you that most interviewers decide whether or not the candidate is right within the first 60 seconds. The other 59 minutes are used to confirm their initial impressions, which are regularly sustained.
The first moments are critical to the start of a business relationship. The smile, the eye contact, the firm handshake are the basics. Make them laugh or show interest quickly. This will ensure that your listener does not mentally (or physically!) leave within the first 2 minutes.
How long does it take you to forget their name after their introduction? 15 minutes? 5 minutes? 1 minute? The answer is normally less than 2 seconds simply because people don’t even hear it in the first place and most are too embarrassed to say “I’m sorry I didn’t catch your name, will you please repeat it?” We all love our names so when someone else shows interest, it can only be good for the foundation of a new relationship.
Networking does not work when consultants do not create the right impression from the start.
8) INTERESTING AND ATTENTION GRABBING
“So John, what do you do?” “ I’m a process engineering consultant.” “Oh that’s interesting!” says the listener. I say “listener” but did he hear and more importantly understand what you said?
Whenever I, or indeed anyone else, asks consultants what they do, 99% of the time they answer what they are not what they do. Why is there this response, is it pride, dare I suggest superiority, or is it just conditioning? To the listener it’s a turn off and the potential new contact will more than likely make his or her mind up about the person they have just met. Unfortunately, perceptions are reality! People buy benefits and solutions, no one buys because of what you think is important. “I help businesses to increase their fees by showing them how to network effectively and with confidence” is my introduction. Ensure the first answer given leaves the listener wanting more.
Why can’t you say “I help my clients to …….”? It won’t be easy at first …but with practice, who knows what can be achieved?
Networking doesn’t work when the general perception of the public towards consultants is emphasised by a dull, complex and dreary introduction.
9) FRIENDLY COMMUNICATION
The new contact is made and the appropriate opening remarks have gone well. What does one talk about next? The experienced networker knows the most important conversation is small talk. Big business can only come as the relationship starts to build. How else can you find out about the other person and their interests if the small talk doesn’t take place? Talk about travel, the workplace, sports, family or matters of current interest. “How did you get started?” “What advice would you give regarding…?” “”What plans do you have for…?”
Powerful open questions, which should elicit information and show your listener what an “interested” person you are. Be a good listener and encourage others to talk about themselves. Paraphrase to show you have actively listened, this will be noticed.
DO NOT SELL. Networking and selling are like oil and water …they never mix. It’s far more important to be interested than interesting.
Any networking event is simply the platform to build on for the future.
Networking doesn’t work when people do too much talking and not enough listening.
10) MAXIMISING THE TIME
You work the room, meet a number of interesting contacts and then leave empty-handed. “John, it’s been good chatting. Would you mind me calling you next Wednesday or Thursday to find out more about your business?” Ask for their business card, read it carefully and find something to comment about. Your contact will invariably say yes and you should write on the card the day that you have agreed to call. Let them see you do this. On that Wednesday or Thursday, ensure that you call without fail. That is the key moment to expose yourself to the possibility of doing business.
Networking doesn’t work when consultants waste their valuable time by not following up effectively. Networking is most effective when the attitude is, “ How can I help you?” not “What’s in it for me?” “Who would you like me to introduce you to?” “How can I know if someone I’m talking to will be a good introduction for you?” are 2 basic questions to show new or existing contacts that you understand the basic rules.
It’s Christmas time. Someone gives you a present and you haven’t given them one. How do you feel? It’s the same with referrals and introductions. If you can recommend one person to another, eventually the favours will be returned. When it’s your turn to ask the key question, “Who do you know who…?” the chances of getting a positive answer will be greatly enhanced.
Always give without remembering and receive without forgetting
Networking doesn’t work when the consultant doesn’t give in order to get. In the longer run… gives gain.
IN SUMMARY:
Networking DOES work but only…
i) when the right attitude is in place.
ii) when comfort zones are stretched.
iii) when patience and persistence is in evidence.
iv) when the right clients are exchanged for the wrong clients
v) when the first move is made.
vi) when the right impression is made from the start.
vii) when an interesting introduction is used.
viii) when listening occurs far more than talking.
ix) when there is an active follow up.
x) when giving is seen as the key to networking.