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.
10 Tips For Successful Business Networking Guidelines
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.
When Henrik Balmer became the production manager and a board member of a newly bought-out cosmetics firm, improving his network was the last thing on his mind. The main problem he faced was time: Where would he find the hours to guide his team through a major upgrade of the production process and then think about strategic issues like expanding the business? The only way he could carve out time and still get home to his family at a decent hour was to lock himself—literally—in his office. Meanwhile, there were day-to-day issues to resolve, like a recurring conflict with his sales director over custom orders that compromised production efficiency.
Networking, which Henrik defined as the unpleasant task of trading favors with strangers, was a luxury he could not afford. But when a new acquisition was presented at a board meeting without his input, he abruptly realized he was out of the loop—not just inside the company, but outside, too—at a moment when his future in the company was at stake.
Henrik’s case is not unusual. Over the past two years, we have been following a cohort of 30 managers making their way through what we call the leadership transition, an inflection point in their careers that challenges them to rethink both themselves and their roles. In the process, we’ve found that networking—creating a fabric of personal contacts who will provide support, feedback, insight, resources, and information—is simultaneously one of the most self-evident and one of the most dreaded developmental challenges that aspiring leaders must address.
Their discomfort is understandable. Typically, managers rise through the ranks by dint of a strong command of the technical elements of their jobs and a nose-to-the-grindstone focus on accomplishing their teams’ objectives. When challenged to move beyond their functional specialties and address strategic issues facing the overall business, many managers do not immediately grasp that this will involve relational—not analytical—tasks. Nor do they easily understand that exchanges and interactions with a diverse array of current and potential stakeholders are not distractions from their “real work” but are actually at the heart of their new leadership roles.
Like Henrik (whose identity we’ve disguised, along with all the other managers we describe here), a majority of the managers we work with say that they find networking insincere or manipulative—at best, an elegant way of using people. Not surprisingly, for every manager who instinctively constructs and maintains a useful network, we see several who struggle to overcome this innate resistance. Yet the alternative to networking is to fail—either in reaching for a leadership position or in succeeding at it.
Watching our emerging leaders approach this daunting task, we discovered that three distinct but interdependent forms of networking—operational, personal, and strategic—played a vital role in their transitions. The first helped them manage current internal responsibilities, the second boosted their personal development, and the third opened their eyes to new business directions and the stakeholders they would need to enlist. While our managers differed in how well they pursued operational and personal networking, we discovered that almost all of them underutilized strategic networking. In this article, we describe key features of each networking form (summarized in the exhibit “The Three Forms of Networking”) and, using our managers’ experiences, explain how a three-pronged networking strategy can become part and parcel of a new leader’s development plan.
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.
Recent days, manage conference is a necessity and is very helpful to business. Lessons of conference management program allow you to set the perfect business conference. As everyone knows, the business sector in today's world is full of tough competition and work pressure and it is necessary in dealing with all these to emerge successful amongst others. In the business world, conferences are of much important. There is a need to plan and organize this conference with the most appropriate way so that certain organizations will get many benefits. A special meeting can sometimes turn highly beneficial for a particular firm in terms of crucial decisions. In facing that phenomenon, one should be quite aware and should be able to work on the tips of planning conferences and events. Thus, learn the art of management of this conference is very important to keep the meeting on track. Going off the track will result loss of much time and money without productive conclusion.
We all know that the daily meetings are a part of most companies, such as telephone conferences, staff meetings, board meetings, meetings to network formation. Many people and companies are struggling to arrange a few meetings in places with high costs in order to get their projects approve. As a result, more and more people will try to pursue a career in conference management. They need the right knowledge and for some reason such professional programs have been initiated. These courses cover various aspects of management include: planning a conference in accordance with the requirements, obtain proposals, determine the budget, the following financial year, and choose places and boarding and lodging of guests. These are the areas that are being covered in this program. Therefore, conference and event planning is an important prerequisite to success.
Conference management has created several job opportunities for people, and if you're a job seeker, you should join such a course and improve your skills in the field that are required. It is certain that if you have the right skills you can excel in your career. Short-term programs with effective management conference will be helpful for all. You can find meeting planners along with other people who work in the field during the course.
Some programs will only take about six hours or a day. It also has its convenient timing. This course is very useful for those who want to improve their skills and work effectively. If you search on the Internet, you would be able to come across many of such courses offered in different places to find. The courses are available on campus and online. If you choose the latter, you can just sit in your home and learn from these courses. Do not worry! This online program has all the knowledge that a student needs. In general, the time of the course is short, you can take this course and get to your favorite topics quickly. Certificates are provided to students that those help them to get better jobs. Some conference management courses are also available at an affordable price, while some others can be expensive. Search online for the program and after a careful comparison choose the best program that you need.
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.