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.
Certified Meeting Planner For Top Managers
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.
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.
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.
Top Five Small Business Network Tips
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.
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.
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.