Q.  What is networking anyway?

A.  Depending on personal experience, past job duties, industry, and many other factors, people see “networking” as different things.  It might be a social event, a key way to meet new prospects, knowing and being known by the right people, positioning and “branding” of yourself and your business, online social network activities, or perhaps a pain in the posterior.  For our purposes, we’ll consider it to be intentionally meeting people in order to market and grow your business. 

Q.  Why should I network?

A. As the owner of one or more franchises, you’re the one to answer that question.  Before you start networking, ask yourself:  Will this get me more leads?  Can I get the word out about my business and myself by doing this?  How many sales or marketing “impressions” can I expect, and is it a good return on my investment of time and money?  If the ROI is high, so should your commitment to networking be; if ROI is low, you may have better ways to invest time and money. 

Remember that networking is a long-term strategy.  You’ve probably met people who take a short-term view of it – they want a sale and they want it now – and the desperation shows.  Your best approach is to be strategic and intentional. 

Q.  What do I need to know about networking before I even start?

A.  Networking is a strategy, not an event.  It’s about making connections, not selling.  So let’s start with where NOT to network.  With your fellow franchisees.  With others in your same industry.  With trade groups, competitors, people and businesses in your same vertical – anyone who isn’t a potential customer.  Hey, if you want to hang out with those folks, do it – but don’t fool yourself into thinking it will grow your business.  You might uncover some valuable lessons by talking to industry peers, you may glean great ideas, you may have a ton of fun - but you won’t go home with leads and prospects.  It’s also been said that if an event has the word “networking” in it, don’t go.  That might a bit of hyperbole, but it might also be a smart strategy.  Do you want to spend your evening with a group of people whose sole purpose in being there is to sell you something?  Sure, it might be part of the price of admission.  But choose carefully so you know there is potential at the event – for you, not just everyone but you.

Q.  Where should I network?

A. Here’s one idea:  If your ideal client is a certain type of business, most of them are involved in trade associations.  What are they?  Find out and talk to the leaders. Find out how you can help them, and in return, make connections.  Ask where and when they meet, and go.  Get to know and be known.  And remember, these targeted trade associations are made up of your target customers, NOT businesses like yours.

Another thought:  Is there a trade show coming up with exhibitors who fit your target market?  GO!  It’s not the time or place to make your sales pitch, but you’ll find hundreds of prospective customers under one roof, and it’s a safe bet that some of them would love to do business with you.  You probably pay big money to get mailing lists of businesses like this, right?  Pay a few bucks and spend a couple of hours meeting them face-to-face.

If your target market is consumers, ask yourself a similar question – where can I find a bunch of them all at the same time, and why am I sitting here instead of going there?

Q.  What’s the key to being a good networker?

A.  Practice the art of conversation.  There are three aims and purposes of conversation.  The first is the plain enjoyment and pleasure of interaction with other people.  The second is to get to know the other person better.  And the third is to build trust and credibility between two people.  Many people think that the art of good conversation is to speak in a fascinating way, to be noted for your humor, the ability to tell stories, and knowledge of a variety of topics.  Many people feel that, if they want to be better at conversation, they must become more articulate, outgoing, and expressive; they must become better talkers.  Nothing could be further from the truth.  In conversation, you should listen far more than you talk.

This centers on your ability to ask questions and to listen attentively.  You can lace the conversation with your insights, ideas, opinions, and humor, but you perfect the art when you ask good, well-worded questions that direct the conversation and give others the opportunity to express themselves.  Ask open-ended questions, and let them naturally flow from on to the next. 

Q.  Okay, any tips on how to network better?

1. Remember, networking isn’t an event – it’s an ongoing strategy.  Ask your friends and colleagues whom they know.  Use The Killer Referral Script: “Who do you know that, if I helped them, it would make your life easier?” 
2. At a meeting or function, have a goal.  Walk in the door aiming to meet eight, or 5, or 24 new people, and don’t leave until you do it.  Here’s one way:
3. BBBS.
   1. Meet one new person at the Bar.
   2. Meet one new person at the Buffet.
   3. Meet one new person on the way to or from the Bathroom.
   4. Meet one new person outside at the Smoke pit.
   5. That’s 4 new people. 
   6. Go North, South, East, and West, and that’s 16 new people! 

4.   Ask good questions!

1.  Listen.  The other person should talk 80% of the time – or more. 
2. Ask more questions!  People like to talk about themselves, their jobs, their businesses, their families, and their hobbies.  Ask.  Listen.
3. Give value.  Offer concise advice from your point of view.  Give them the name of someone they should talk to or a book they should read.  Send them business article about a topic you discussed, or a recipe that you know they’ll like. 
4. Be a student.  Learn about the art of conversation, read about the industry you’re targeting, and practice, practice, practice.
5. Practice.
6. Most important of all:  Follow up.  The biggest mistake people make is to make new connections and then allow them to atrophy.  ACT.  ACT NOW.

Q.  How about social networking?

A.  Great question, and one that deserves its own discussion.  Go to the article “Effective Networking:  A Fresh Perspective on Networking Online & Offline That Produces Results” to learn more.