Business networking for Finance Manager 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 Finance Manager 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.
Business Growth - The Business Of Network Marketing
It is how as a Finance Manager 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.
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.
Home Business Network Marketing - Do You Have the Right Personality?
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.
Business consulting management is in the practice of assisting companies enhance their efficiency and overall performance. The procedure requires examining the existing issues within the organization and developing plans for performance improvement. There are many reasons companies need the services of management consultants. Some of these include getting third party observation and access to specific skills set and expertise. Management consultants have specific training to handle different organizational issues.
Instead of stressing over different problems in your company, you can have someone more knowledgeable look at it. Third parties also have an easier time spotting problems in organizations. Being part of a company makes it hard to see problems at once. You are often used to how things work and any faults or issues would be difficult unless something completely wrong happens. A view from the outside can easily spot the right and wrong operations.
The effectiveness of third party professional services encouraged a surge of providers offering business consulting solutions. Consulting firms represent the idea of "best practices." Adhering to best practices allows organizations to stay afloat amidst the competition. People view organizations following best practices in a positive light.
Nonetheless, transfer or adoption of these practices is difficult to transfer all at once. Organizations have different adaptive abilities. Some can follow practices faster and more efficiently while others need some time. This is where business consulting comes in. An expert can guide you on what to do for the company to carry out best practices. Transferability of efficient procedures relies on the nature of business and operational scheme. Consultancies provide assistance in translating recommended procedures according to the nature of the company.
Services under management consulting include change management support, technology implementation, and creation of coaching skills, operational development, and creation of strategy. Business consultants can provide frameworks to work on your performance improvement. They also know different methodologies to figure out problems in your company. Make sure to find someone keen on identifying problems first. You cannot start developing and improving your company if you do not know what is wrong.
Problem identification allows you to develop corresponding strategies. You can properly align methods to address the issues. This also guides what tasks should be there. There are categories under business consultation attempting to solve specific organizational issues. Identify your specific niche and see what consultation services you need.
Find a good consultation provider to make sure you improve your organization. You should work with a proficient and experience consultant. The quality of your consultant determines how much improvement you can make. Search the internet for possible contractors. It is a good source of companies and client feedback. See which providers companies are talking about. Client feedback and ratings offer great information when choosing companies to work with.
Most clients are eager to discuss their experience on providers. Select those with high ratings and narrow choices to three or five. Ask for their list of business plan tools. Verify their costs. You should find someone within your budget. There is no point in working with someone you cannot afford.
Do not expect to receive benefits right away. Do volunteering work for network groups to stay visible and give back. As a responsible Finance Manager 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 Finance Manager 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.