Is your networking not working?

I recently attended a “Business After Hours” presented by the Winter Park Chamber of Commerce and encountered a new business owner making a grave mistake.

What she did right:
She came prepared to do business – dressed professionally, brought lots of business cards and flashed a winning smile.

What she did wrong:
She approached me and shook my hand while enthusiastically proclaiming, “You look like you could lose weight and I have the solution!”

You can imagine how the rest of the conversation proceeded. I watched in amazement as this young woman, who specialized in weight-loss products, worked the room in the exact same manner and was rebuffed by each person she met. First impressions and fast-spreading word-of-mouth killed her reputation before the night was over.

Her networking was DEFINITELY not working.

Elevator speech
First impressions are critical. An elevator speech or prepared introduction is the first impression you make with a new contact. When you meet somebody for the first time, what do you say and how do you say it? You should be able to state what you do and why it is has value in one or two sentences.

“It’s so important to have a prepared speech – about one and half minutes long – that has a good tagline, or hook,” advises Jay Rupert, Membership Representative for the Winter Park Chamber of Commerce.

Mr. Rupert shared his own introduction, “If you want Winter Park money, then join the Winter Park Chamber of Commerce.”

This example illustrates how a simple statement can make a huge impact. Not only does it address what Mr. Rupert does, it also has a bit of “shock value” – the memorable hook that will keep him in your mind for a long time.

Leads groups versus networking groups
Leads groups are different from networking groups in that only one person from each industry is allowed to participate in a leads group – one realtor, one insurance agent, one doctor, etc. However, if there are specializations within that industry than one representative from each specialized area is invited to attend. A perfect example is the category of attorneys where you could have specializations in real estate, probate, corporate law, etc.

Usually, structured leads groups also require that you bring at least one lead to each meeting or face a penalty. This could create pressure especially if you are not accustomed to networking enough to obtain the new leads.

The dictionary defines ‘networking’ as the developing of contacts or exchanging of information with others in an informal network, as to further a career or your business. Mr. Rupert defines networking simply as, “Building relationships.”

Networking opportunities happen every minute of the day – while you’re waiting in line at the fast-food restaurant, while you’re on the bus, while you’re attending a seminar or a business function, while your participating in a social network online or while you’re participating in a structured networking group. You can network with your friends, your business associates or even with the group you workout with at the gym. Business leads are everywhere; but you need to be willing to talk AND to listen to figure out which leads are right for you.

Defining your networking needs
Not every prospect is a good one. And, determining which ones deserve your efforts is a vital discovery in order to maximize your return in qualified leads.

Todd Ruopp, co-founder of Unleashing Performance, explains the value of qualifying your leads, “Some of my small business clients rely solely upon networking for leads. Depending on the industry and product this can produce decent results. However, most of the time it falls below expectation.”

“The problem is not everyone is a prospect and even if they turn out to be one, not every prospect deserves the same amount of your time. Start by determining the qualities of the ideal prospect for your business. Tell everyone you encounter what makes up the ideal. The easiest is to describe the size of prospect you want (number of employees or annual sales).”

Every business professional must network in order to survive, whether it’s through business-to-business relationships, referrals within a circle of associates or by interacting with new contacts at events and functions.

Is your networking not working? Then it’s time to develop AND practice your elevator speech, determine your target prospect, meet new people, greet old associates and listen, listen, listen. Go out there and qualify your leads and build your relationships. You can’t afford not to.

What have you done lately to improve your networking? We would like to know.