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In this support module learn about the benefits of networking and how growing a network can help grow your business.
Learning outcomes include:
Hi, I'm Caroline Lovett. I'm from Credible Source Solutions and in this presentation I'd like it to help you make connections in business and talk about the benefits of networking. I'd like to help you gain the value and understanding of what networking can bring to your business and your business connections. I also want to get you thinking about how you and your business can be involved in networking groups, what's in it for you, and what the long-term benefits are as well.
Why network? The first point is when you join a new networking group for the first time, and you feel comfortable that it's the right networking group for you, you're the new kid on the block. Other networkers in that group have been waiting for you, whether you realize it or not.
A lot of the networking groups that you will possibly have already researched, have categories. They're looking for required skills and professions.
A lot of the business networking groups exclude duplicate businesses in the same category for that very reason. And they're often looking for categories that are missing to complete their networking opportunity. As the new kid on the block, you'll find when you join a good business networking group, that you'll probably have a lot of referrals come your way quite quickly. A lot of the businesses in that group have wants to catch up with you for coffees to see what it is you do and how they can create some linkage and some business for you as a result of that.
So initially in a new network opportunity, you'll find you're the new kid on the block, and new opportunities will come and present to you and your business.
Then after a, while you no longer the new kid on the block, this is where people tend to give up and think it's not for them. They've had a couple of quick wins and now I'll move on. The best thing about business networking I can share with you is your continued attendance actually is a great, slow burn for business opportunities.
Remember you were a new kid on the block once. There will be more new kids on the block coming in that you will be able to share business opportunities for them. And in return, as you build a network relationship with them, they'll be able to share business opportunities for you. You should never rely entirely on your network groups, but you should never just discount them because you haven't had a couple of good leads in the last couple of meetings that you've had.
Continued attendance gives you that slow burn while you work on other opportunities for your business.
One of the greatest things about networking is it becomes a one-stop shop for your clients. Now, I don't know about you, but I hated going through the yellow pages that was 24 centimeters thick to find somebody who could do the profession that I needed.
I try and find businesses when we had the local papers. I'll also look at flyers etc. I don't know how many of you (like me) have been let down by local businesses when you've contacted them through their paid advertising, when they don't turn up, they don't even call you back or they don't do what they'll say they’ll do.
The best thing about being in a networking group is there's a trust kitty. You have to build a trust with each other. You are using your brand, which has a good reputation, and the other networking people in your group have good brands and good reputation. If somebody brings to you some business, they recommend that you communicate with that person that they bring to you as a client, that you follow up, and you let the networking person know the outcome of the communication. That is building a trust kitty. It is maintaining the reputation of your brand, but most importantly, it's maintaining the reputation of the person in your network's brand as well.
What happens there organically is a one-stop shop. We've got a large group of people with a diverse range of business activities. When a client comes to one person and says, “I need a tree lopper and you've just landscaped my garden for me”, you will have access potentially to that tree lopper. When they finished with the tree lopper, they'll ask for somebody to come out and clean their driveway. Now you'll have access in your network group potentially to somebody who can do that driveway. You've now made it so easy for your client to get that work done and you've tapped into your network group and then they’ll return the favor to you.
The other thing working in network groups is you become a credible source, which is amazing because you're networking colleagues are talking about your business to their clients. They're sowing a seed. You're talking about their business to your clients. Again, they're sewing another seed.
The third part of the credible source - once the seeds are sewn and your talking about eachother - is the community in Facebook. We have lots of Facebook community pages, lots of opportunities to refer people's businesses.
I don't know how many of you are on a community Facebook page, but when you see Stan the snake catcher – his name pops up when somebody is looking for somebody to remove the python from their rafters before their doberman eats them. When Stan the snake catches name pops up as a recommendation by somebody, you often see three or four other people will like that comment or they’ll also comment about Stan and the positive outcome he'll deliver for removing that Python. In these network groups, a lot of these people that comment and like are the people from your own network groups who are behind your business, that advocate for your business, they're supporters of your business just as you are for them. And that gives you the leverage to be a credible source. And in turn, those businesses will benefit from what you do for them in the future, in the Facebook community. But the client who's looking for a snake catcher, won't go past Stan because at least half a dozen other people or more think Stan’s the bee's knees. So why would you look elsewhere?
So your credible source activity, when you're in an established network group, really does give you some business benefit.
In a network group it's amazing the creative thinking that comes from it. While you think you may just be Joe the landscaper, when somebody comes to you with a problem, which isn't a landscaping problem, it's amazing as a group of networkers, how you find the best business solutions to help the clients of your networking team and your clients.
I've seen some very creative outcomes delivered for customers who wouldn't have had a resolution any other way, apart from a networking team, getting together and bringing solution for that customer. So have those conversations, meet your networkers. Make sure the benefit of meeting them is you find what else they do.
When you're in a networking group where you can only have one lawyer in a category. There might be three lawyers in the room. One's in family, one's in traffic, fines and fences, and one might be in murder cases. But when you actually sit down with the one that's the traffic fines and offenses, you'll find that there's other things that are part of the portfolio that they haven't been able to discuss or bring to the table that doesn't conflict with the other lawyers in the room, but it gives you another angle.
So don't forget to have those conversations, get to know them on a personal level over coffee. You'll learn great things and you'll deliver great solutions to your clients as a result.
And if you're going into a networking group, because it's all about you and your business and you have no desire to help anyone else, then networking isn't for you.
Networking is not “what's in it for me”. It’s all about building friendships and relationships, reciprocal relationships. When you help your networking colleagues, they in turn will help you and you can maximize business benefit and get great outcomes if you think innovatively and thoroughly about the people in your network group and how you can all help each other to look after each other's business and become credible sources.
I'm Caroline Lovett from Credible Source Solutions. My website is crediblesource.com.au. Please visit my website and contact me if you'd like to find out any more information about business network.