Business networking for Business Development 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 Business Development 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.
Executive Search Firms - Questions To Ask Before Hiring One
It is how as a Business Development 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.
The importance of selecting the right executive search firm should never be underestimated. Choose a wrong one and your organization may suffer costly delays in filling in a crucial position or be saddled with a new hire who turns out to be unsuitable for the position. To better gauge the fitness of prospective search firms, make sure you answer these questions.
What executive job search experience do you have?
Asking this question will give you a good idea on whether the prospective search firm has established expertise in the areas which are critical to the successful completion of your search. Certainly, the more examples they can share, the better. You need to have full confidence in an executive search firm's ability to attract high quality candidates who have the requisite qualifications and skill set for your specific need. What are your search methodologies, and how can you apply them to my requirements? Discussions with prospective search firms should center on how they intend to go about filling your job requirements. Urge them to be as specific as possible in explaining their strategies in identifying and attracting candidates and to what extent they can offer recruitment guidance for your organization and the candidates.
How will my organization interface with your firm?
It will also be helpful to obtain a detailed account of the processes and mechanics of your partnership. This should include a clear designation of roles and responsibilities, appointment of a dedicated project or recruitment manager, setting up of project milestones, submission of progress reports and schedule of meetings and consultation. You will want an executive search firm that is willing to communicate with you and address the search in the manner which is most beneficial for you.
What is the expected time line?
Corollary to a detailed scope of responsibilities, is an assurance of sticking to a time line that works for both parties. The time-critical aspects of the recruitment activities should balance out with your schedule and that of the firm's. Good executive search firms will readily offer an honest assessment of the time necessary to conduct a thorough candidate search.
How involved will you be in candidate negotiations?
Search firms vary in willingness and expertise in liaising between the hiring organization and a candidate in the final negotiation stages. It's a tricky area to navigate, and you'll want a search firm that can represent and communicate the best interests of both your company and the candidate you wish to hire.
What are your fees?
You need to understand how the executive search firm will bill for its services. A retainer-based approach is often ideal as the expenses can be spread out over the course of the project, although some firms are known to accommodate charging a flat fee for certain projects. Billable items should be scrutinized and should amount to a compelling package of high value services.
A Few Things to Remember
The key thing to remember when evaluating prospective search firms is to be as clear as possible in explaining your requirements for the position, your own expectations and the kind of involvement you're capable of contributing to the process. Tailoring each question according to your organization's specific needs will also help you obtain the answers you need and from there make a well-informed decision.
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.
Executive Consulting - What Needs To Be Done?
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.
I consider myself to be fairly competent at networking. Even so, I still got intimidated when I thought about how to network with senior executives at my company. I probably experienced some of the same self-doubt you have gone through:
Why would they want to build a relationship with me? I don’t work with them day to day
They are probably too busy to connect with me.
I don’t want to come across like I’m “kissing up.”
How do I ask for a meeting?
In the last few months, I learned five great tips on networking with senior executives. They have helped me authentically connect with three senior folks at my company. Conversations with them have helped build my work brand and made me appreciate how much I can learn from each of them. Here are the five tips. I hope they can help you in your career.
Tip 1: Less is more – identify which senior executives you want to network with. Look at all the senior folks in your company and choose, at most, three executives you want to network with. Focusing on building deep relationships with a few of them is better than trying to get to know all of them. Here are the criteria I used to decide who to network with.
Recommended by others you trust – Not all executives are created equal. Many people in leadership positions still only care about themselves. It’s important to find out about their reputations and then figure out which ones are genuinely interested in developing people.
Relevance to your work – Have you worked with his or her teams? It would make more logical sense to reach out for a meet and greet if there is some level of connection between your work and their sphere of influence
Gut feeling from past interactions – If you have had any direct interactions with a senior executive, then trust your gut instinct. Some will seem approachable and easy to talk to and some will seem aloof and guarded. One of the relationships I built with an executive was purely based on our informal chats in the hallway about our personal lives, travels, etc. She is now an invaluable mentor for my career.
Tip 2: Take action – Be proactive and reach out for a first meeting. This is by far the hardest tip to follow for most people. Many of us have these ideas for a long time but never actually do anything about it. Just do it! Only when you practice, will you get better at this skill. You may not always do it right, but that’s still better than doing nothing.
Start with the executive you have the most personal contact with – You will have the best chance of success with someone you already know. Not only will this interaction build your confidence, but that executive can coach you on how to approach others along with who else you should approach.
Make it a one-on-one meeting – While face to face is preferred, it is not always possible. A phone call can be just as effective. Be flexible with timing – Offer options and leave it for the executive to choose the time that works for them. Be persistent but respectful – It’s not only possible that it may take several tries before a meeting can happen, but executives are busy and may cancel on you. Don’t take any of it personally.
Tip 3: Ask for Coaching or Offer to Help – This addressed my fear about how to come across to a senior executive. The most common mistake people make in approaching executives is asking something like the following: “How do I get to senior management, like you?”. It may seem like you are complimenting the executive, but you actually come across as self serving and burdensome. Instead, you should try either of the following:
Ask for coaching and advice: This will help your career, and it naturally compliments the leader you are reaching out to. Offer to help: Askg something like, “How can I be more effective in my role as a partner of your team?” or “What can I do to improve how we do xyz?”. Neither approach is focused on climbing the career ladder. Instead, they are about reaching out to learn and become more effective at your job.
Tip 4: Prepare to Listen and Ask how to Stay Connected – If you successfully get a first meeting, you will most likely get 15 to 30 minutes to talk to him/her. Come to the meeting with, at most, 1 or 2 questions and prepare to listen. This is not about you talking their ear off about your accomplishments or perspectives. This is time to listen to their guidance and perspective. Listen and have them clarify what they are sharing with you.
Assuming the meeting goes well, finish by asking if it’s okay to reach out in a few months to reconnect. You will be able to tell from their response whether or not they want to continue the relationship.
Tip 5: Be Thankful and Follow Up – Building relationships with anyone will take more than one interaction. Just like any networking effort, it’s important to be thankful and follow up
Once you’ve had your first meeting, be sure to send a simple ‘thank you’ email or note.
More importantly, if an executive provided advice for you to follow – like ‘you should also talk to these two people on my team’ or ‘this is how you can approach the work next time’ – once you have done those things, let them know. This will help you build your reputation and relationship with them.
Last but not least, schedule a second meeting. We would like to heard your comments.
Are you networking with senior executives today? Why or why not? Have these tips helped? Share your comments and questions below.
Do not expect to receive benefits right away. Do volunteering work for network groups to stay visible and give back. As a responsible Business Development 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 Business Development 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.