Managing Director Management Conference

Business networking for Managing Director is one of the most effective marketing and prospecting method you can use to grow your business. But if done incorrectly, it can be harmful to your business.

Business networking is a lot more than giving out business cards. It is about building trust. For Managing Director the networking is a lot more than meeting people. It is about connecting with the right people.

Business networking is a lot more than collecting phone numbers. It is about staying in touch, about listening, addressing needs and looking for opportunities all at the same time.

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It is how as a Managing Director we approach relevant business networking sessions that makes it work for us. Networking is about being authentic and genuine, building relationships and trust, and helping others. Although increased sales is the end goal, don’t participate in business networking to sell.

Build relationships and sales will follow naturally. People have to trust you before they’ll do business with you or refer you. Relationship capital is an immensely valuable part of business success. Put your energy, intention and attention on business networking.

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Let's talk about inviting people to your business events in this article. The tips that I am going to share later applies to not only business related events but also normal events as well.

If you have tried inviting people to come for your business events be it networking or talks, you will agree with me that it is not easy to get the numbers especially if you are inviting business man and women because they prioritize almost all events according to ROI (Return On Investment) - if your event does not justify their time to be there, then most probably you will have a poor turnout.

Based on my experiences and observations from the other very experienced networkers in my business circle, I realize that there are only three things that you need to do it probably in order to have a high turn-up rate for your events.

1. Is this what they need?

I do not invite every person I meet to my business events such as BNI. If the first thing you meet someone new is to ask him / her to come to your event, then this is something that you may want to stop and re-think on.

Listening is by far the most important skill we need to learn and refine (not only for business). Thus, the first thing before we even start inviting is to ask relevant questions. For example, if you are holding an event for Internet Entrepreneurs to come together and network, you need to ask and assess if the person you are talking to has this area of interest.

A good question you can start off is, 'Have you been to other business networking events?'. This question not only help you understand them better but also make them reveal if they think they needed such exposure. You will be surprised that some business owners will answer this question admitting that they should go around networking more often! Now, do you think if you invite them to your event at this point of time, the person will be far more receptive and appreciate your invitation?

2. Persistent - the additional effort that makes the difference

A lot of invitations I receive nowadays rarely exceeds more than 3 times. If you are holding an event that happens regularly (for example, monthly), you must be persistent and keep inviting no less than 7 times. Most of the times, people are kind enough to tell you that they have other commitments and couldn't attend your event. If this is the case, invite them again when your next event is coming up. This kind of followup is the key that makes the difference.

I remembered I was inviting a business associate of mine who has rejected me no less than 5 to 10 times (I lost count...) because of his usual morning commitments. One day he finally make it to my BNI (Business Network International) event and thank me for inviting him to attend such an eye-opening event. I think sometimes we just have to be persistent especially if you see that your event adds value to the others.

3. Reminders - the secret to 100% turnouts

I never know that a simple reminder can make such a big difference until I came across a material by Dr. Ivan Misner who mentions that reminders are important and we should remind the people who have agreed to come for our events one or two days before the event.

It can be frustrating sometimes if you see that the person you have invited did not turn up in the end just because they forgot. Hence, a simple reminder either through phone or SMS can be very helpful. At the time of posting, there are already systems in place to send out automated reminders to people who have registered for events. One company that can help you to leverage this technology is FlexiSoft - managed by Norman Chin from BNI Singapore, Raffles Chapter.

Identify which networking events you should attend. Pick groups that’ll help you achieve your goals. Find venues that make sense for your business. When you register for an event, schedule it like a meeting.
Determine how often you should be networking. How many times in a week, month, or quarter? Visit as many groups as possible.

Attend events with a plan and always try to learn something new. Prepare yourself for the event. Develop open-ended questions to ignite a conversation. Bring business cards but don’t give your business card to everyone you meet. Give cards to those who ask you for it. Try to sit with strangers. Don’t forget to mingle.

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Keep track of people you meet. Keep in touch with them and deepen your emotional connection. Establish a mutual beneficial relationship with other business people and potential clients/ customers. Meet with the group members individually so you get to know them better and try to build quality connections. Consider other group members as resources. focus on the group; listen and think about how you can help them. Focus on giving. Build trust within the group.

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There are many ways you can succeed in network marketing and earn a decent living. But there are many more ways in which you can fail. Unless you know all the angles out there, you're not going to move forward in business. This article will explain some great tips you can use, to help your MLM campaign to flourish.

Keep track of your shortcomings and analyze why they exist.

It is important to keep track of the money you make in your network marketing strategy. There has to be a point where you choose whether or not to continue if you're not making enough profit to survive on. When that point is can be set before you sign up so you won't have any doubt in your mind if that time comes.

While you should build a site for network marketing, social networking sites can help you get started. An interesting and well written blog, frequently updated blog is a good technique to add, can give you a good start. Your network will grow more quickly if you establish your online presence.

When you're engaged in network marketing, it's imperative that you are able to visualize success as you define it. That may seem overly simple, but in network marketing, it's important to be able to visualize the future. After all, your future network size has a lot to do with how successful you will be in this field. Using positive future visualization is an accepted, and widely practiced part of network marketing.

Whether you cultivate the lists from the people who have signed up on your site or you purchase it, it is imperative that you have a rather large email list to help you continue to grow your business.

When building your network marketing business, adhering to a schedule is one of the best things you can possibly do. Setting and sticking to a schedule allows you to treat your marketing efforts like a real business and will keep you from procrastinating and taking lightly what you should be focusing on intently.

Become the leader in network marketing. Use one-of-a-kind promotions to make your creativity to create a campaign that stands out. Try to find a specific niche for your network marketing business, as you should always be as original as possible when marketing.

Avoid using network marketing jargon when you're speaking to a prospective client. There are many phrases that are commonly used within network marketing circles that will not be understood by people who do not work in such a circle. Explain terms if you must use them, but be careful not to talk down to clients.

It is important to be knowledgeable about the product you are selling. Customers are more inclined to join a higher likelihood of joining your network if it is apparent that you fully believe in your product. If you learn about the product enough, you will be able to give truthful testimonials.

Work towards a goal of making money in your sleep. Network marketing CAN lead to passive income through your downline. So make your goal to have enough referrals to pay your bills entirely. After you hit that goal, every new referral becomes "gravy", extra money for you to use for fun things like trips.

Look to the organization's leaders for ideas. Imitating these people will only help you closer to the top.

When recruiting a new lead, speak to them in terms they can understand. Instead of saying why YOU like the job, listen to what they talk about and figure out why THEY would love it. Let them know about perks that fit into their lifestyle, like a flexible schedule.

Video marketing can help you drive targeted traffic to your network marketing websites.

Help your downline by setting goals for them and giving them a reward for achieving them. Hold a contest to see who gets the most referrals in a month and reward the winner with some sort of prize, like an iPad. Building motivation through incentives is an excellent tool for your repertoire.

Look at independent distributors to see how to model yourself when using network marketing professionals are doing and learn from their successes.

When it comes to network marketing, it is extremely important to consider that your content needs to not only be easy to read but also presented in a unique way to your subscribers. This is important because you want people to be attracted to your content as well as be able to digest this information quickly before becoming bored and turning elsewhere.

Choose a network marketing company that has products of interest to you. If you have a passion for these products, you will be able to more effectively market them and may translate to them being more interested.

Avoid dictating goals to potential recruits when you are recruiting for your network marketing program. Telling recruits what they should want out of your program alienates them and destroys the trust that good recruiters develop during the recruiting process. Let your recruits express their own goals and then tell them how your program will fit them.

Everyone loves to get something great for only a bargain! Seek out network marketing company that include coupons you can give to your customers. People will be more likely to take an interest in the product if they have a bargain rate.

As you read previously, there are many ways in which you can reach success, but even more ways to fail. Network marketing is unforgiving and thus, you need to approach it with as much knowledge as you can. What you just read throughout this article, are some great ways to help you succeed. Do not take them for granted.

Do not expect to receive benefits right away. Do volunteering work for network groups to stay visible and give back. As a responsible Managing Director you must show up regularly and on time, show others how you deal with business meetings and associates. Give quality referrals and leads. If someone gives you a referral, follow up on it in a timely manner. Follow through quickly and efficiently on referrals you are given. Take a referral seriously.

Don’t spam on social networks. Use the platforms designed for Managing Director to build relationships and expand your network.

Limit self-promotion. Don’t sell. Build relationships. Be as helpful as you can. Share relevant information with others as people love to learn new things. Participate in discussions. Let others know you’re real. Be approachable. Treat your online connections just as valuable as your offline connections.