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.
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.
How To Make an Effective Management Conference
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.
An important part of conference management is the conference evaluation. Most association conferences are repeated annually so it is critical for the planners to make an assessment of the quality of symposium sessions, speakers and overall experience. It will be less likely that association members and guests will attend future conferences if their previous experiences are mediocre at best. Only by getting relevant feedback from those in attendance will you ever know how well your conference was received and who you can count on to provide quality presentations for your future conferences.
A good conference planner will have a clear understanding of their goals and objectives and have an effective review process in choosing speakers and session topics. These instructor selections often come from personal encounters but most come from the recommendations of others. Speakers, session topics, venues and amenities don't always provide the kind of quality desired and need to be weeded out. You can accomplish this by providing attendees with an easy conference evaluation tool that will assist you in making the necessary changes in environment, personnel and material that will assure a more successful conference in the future.
What kind of questions should you ask?
With a clear understanding of the goals and objectives of the conference in mind, prepare a comprehensive list of questions and associated measurable responses regarding individual speakers and sessions. Question responses will be either "Yes / No" or multiple level responses such "Excellent / Good / Fair / Poor" or "Strongly Agree / Agree / Neutral / Disagree / Strongly Disagree" to name a few. Search the internet for examples of conference evaluation questions. The measurable values usually would be higher the more positive they are as in Excellent being a value of 4 and Poor being a value of 1. The result would be calculated as a mean and provide you with a quick glance at the overall response to a given question. It is customary to provide an overall evaluation section in the survey to capture the general sense of the success of your conference which would include site location and amenities and the impact that the conference overall will have on an individual's career or practice. Some open-ended questions or comment sections should also be provided to give the attendee opportunity to more freely express their personal insights and observations. All of this data will be extremely helpful to you in planning future conferences.
What is the most widely used evaluation instrument?
At the present time, paper OMR evaluation forms are the most widely used conference evaluation instrument. They are often combined with a web version of the survey for those more inclined to use their computers in the evaluation process. It is helpful in this situation to provide wireless 'hot spots' at the conference site for immediate participation while things are fresh in their minds. However, many attendees will prefer to respond online when they return to their home or office. The data from both of these sources can be combined and the tabulated results put into a readable report generally containing such things as response counts and tabulated percentages and mean values for easy review. The OMR and web survey process is best facilitated by a company with the tools and experience. They can also assist you in preparing your questions, and designing, printing and scanning your evaluations and preparing your reports.
As one responsible for conference management, you look forward to positive feedback from your attendees to assure you that things went according to your best laid plans. However, negative feedback is also very helpful in making sure you get the best resources for your next event and continue to grow into a healthy professional association. Make sure to set aside a part of your budget for the conference evaluation process and find a reputable company to help you. May your next conference be better than ever!
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.