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.
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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.
In my experience of 20 years in consulting and industry, a typical successful Network Marketing guy would have the mindset of the owner of a mid-cap global company. Since you don't find many such people living next door, peoples difficulty in comprehending what they do - and this business - is natural. But if you look at any business, you will agree, here's what business needs:
2. Marketing Strategy
3. Training / Operations
4. Finance and
Let us look at each of these in the context of Network Marketing.
The product for network marketers is wide open. Anything can flow in the network. To give an example, in a telecom network, once your cables are laid, you can flow data, voice, video, text... whatever, through them. Similarly, a network marketer is actually in the business of laying the cables... comprised of consumers consuming good quality products. The focus is to maintain the robustness of the cable... the product per se, is immaterial. Several thousand international brands have partnered with Quixtar for instance, to tap into the strength of the networks Quixtar business owners have built. Numerous companies have partnered online through affiliate-ships for the same reason. So as a network marketer you can be sure you will always have a great product... or in fact various product lines... which would then be the least of your worries.
#2 Marketing Strategy
Since this is my pet subject I can write for hours on it but I won't. Because the strategy for success in network marketing is to reduce individual work and increase System work. By allowing a System to work every Network Marketer can leverage more from the team than by charting their own strategies. Robert Kiyosaki recommends Network Marketing so passionately because the marketing strategy is set in place by a System. True network marketers will search for a system for success and abide by it... and in doing so would change their everything... from mindset to finances to relationships!
#3 Training / Operations
Those of you who have engaged consultants in your business (and I mean like plumbers and baby-sitters in the business of running a house) know exactly how expensive this can be. But in Network Marketing you get Free operating advise from extremely successful business owners! Because they have a vested interest in your success. Every action of yours... the cost-benefit... the effectiveness... the impact... is well known in advance and you can follow footsteps to operate like the best.
This I believe is the most undervalued bonus of Network Marketing and for me personally, this alone has been worth a fortune. It is this advise that builds the mindset for leadership in all walks of life. And once that develops everything else is a cakewalk!
For any business to provide larger turnover and profit, the costs of operation increase. Right? Not so in Network Marketing. Here, though the business expands exponentially, the expenses remain at the same level (usually quite nominal and risk-free). Consequently this is the only business where you can be absolutely in control of cash-flow planning and growth. Which is a severe stress-point in any other business.
Secondly, since network marketing is a B-quadrant business (ref Robert Kiyosaki), the money comes in much after the work is done. It's like in farming, where you plant the seeds in one season and harvest the next season. This ruffles up a lot of people who are used to money-for-effort like in a job or sales (no guarantees about that now though. And this is why one must be open to training, to develop the mindset of the rich!
This is one area where traditional business and Network Marketing differ rather significantly. In a traditional business you 'pay' people to follow instructions. In Network Marketing you 'inspire' people to do that.
You yourself do what needs to be done and teach others how to duplicate the simplicity of that. This is why network marketers are basically in search of open-minded students. Just like the Rotary Club is in search of socially inclined business-persons and the Art-of-Living Community is in search of people willing to be navigated to a higher consciousness.
Net net, the business of Network Marketing is boundless and in 75 years of its presence on the planet we have barely scratched its surface. The business model is in search of an army of volunteers with an abundance mindset and a higher consciousness to awaken society and herald revolutionary change. Historically, such movements take a century on the make... and so the time for the Network Marketing movement has come!
PS: Business is business and network marketing - for its wonderful nature - is business 2.0... but network marketing as an instrument to uplift world consciousness is Business 2.1 and you can take it there! Contact me to know how.
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.
Frustrated because your governing board members lack zeal for the cause and won't raise money?If you're the CEO or a board member, your nonprofit organization needs you to galvanize that board. It's board development time. But...What if certain extenuating circumstances suggest a direct approach to the governing board is not a good idea at this time? Try advisory councils.Advisory councils are a great way to re-charge the juices in a nonprofit organization's leadership and advancement experience. Here are a few reasons why:Recruits individuals who may not (yet) qualify for governing board membership. Expands opportunities for attracting new talent, perspective, and participation to the organization, people who are honored by the appointment and eager to contribute. Attracts additional leadership to the organization without threatening current governing board members, i.e. you need not be forced to invite one to leave in order to invite another to join. And, if there's a problem on the governing board, you can by-pass it by choosing to wage that battle another day. Engages leaders who want to serve but do not want to assume fiscal responsibility (governing board only) for the nonprofit organization. Interests potential members who are often over-committed but still want to be involved, so they like the typical council's limited number of meetings per year. Helps focus members, thus raising probabilities of success, via "single-purpose" councils. If your council exists to "give or get," members who accept an appointment have already made a commitment to be financially involved. Offers an opportunity to increase diversity among the organization's influentials. Acts as a farm team for developing leadership for the governing board and other organizational opportunities. Represents the organization or one of its departments, matching council members' professional expertise or interests in a best fit. There are more reasons why advisory councils can be your leadership or advancement panacea. Add your own experiences to the list.Perhaps your nonprofit organization reserves to the governing board the authority to appoint councils and/or members. This can be appropriate, depending upon your organization's history and needs. But you may want to expedite the creation of advisory councils and the recruitment/appointment of members by developing a brief advisory council blueprint and then request the board pass a resolution empowering the CEO to develop advisory councils and enlist members later as the organization may require. You can also use the blueprint as a job description for orienting new council members.Here's an example of what an advisory council blueprint might entail:Mission: To advise the CEO on matters pertaining to leadership in the organization and the community.Counsel: Expertise, insight, strategic thinking, innovative ideas, networking, trend analysis, encouragement, vision casting, leadership, advocacy, mentoring, support, community opportunities and contributions.Membership: Members will be appointed for their leadership, expertise, wisdom, and contacts, which they can use to build the effectiveness and reputation of the organization. They shall be people of good character whose lives and work will by association be a credit to each other and the organization. Members will be appointed by the CEO.Terms: Members will serve without terms (or you can develop terms) for as long as the CEO and the council member consider the service mutually beneficial.Members should attend meetings faithfully and agree to support the organization financially on an annual or project basis.Meetings: Councils will typically convene four times per year in meetings called by the CEO. Special meetings may be called from time to time.Authority: Councils serve in an advisory capacity with the consent of the Board of Directors. Advisory council recommendations will have no legal or binding authority upon the organization but will likely influence the course of the organization's development.One last thought you should make a cardinal rule: The worst thing you can do is appoint advisory council members and then not use (converse, convene, listen, engage, etc.) them. Putting people on a council that goes nowhere wastes their time and disrespects their talent. Fool them once and you won't fool them twice.Advisory councils are a wonderfully flexible and potentially high-impact tool. Skillfully employed by a CEO or board, advisory councils can act like a chlorine shock to the organization's leadership pool. They can help make things clear so you can once again see where you're going and how you're going to get there.
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.