Networking Strategy for Your Business

Your best networking strategy is the one that provides you with the most warm leads in the least amount of time. That’s not something you can do by yourself. It requires others to commit to helping you. To make that work, you need to return the favor.

You need a Board of Directors (BOD), a group of people showing a deliberate intention to build your bottom line. That belief, time, and energy invested in your business must be reciprocated or it won’t last. It also wouldn’t be fair for you to take advantage of their efforts but not do the same for them. Bring opportunities to them first. Give a hand up, don’t ask for a hand out.

Work for Others So They’ll Work for You

Get to know these other businesses and promote them. If you worked in their sales department, what would you need to know?

  • What are their products and or services?
  • What geographic area do they cover?
  • How are they priced? Do they undercut the competition? Are they providing premium products or services at a premium price?
  • Do they have a market niche or do they pursue the general public?
  • Why should someone trust them? Why should they be relied upon for this product or service?

While doing your research, you may find someone isn’t a good fit for you. There may be little or nothing in common between you. You may also find this person isn’t trustworthy and has a bad reputation. You don’t want to refer your valuable contacts and connections to this kind of business. If your contacts get burned, that reflects badly on you.

For those you want to work with, keep your eyes and ears open for potential customers and opportunities for their business while you go about your own business. Of the people you meet or know, who might be a good match for them? You don’t have to hard sell, just make connections and introductions. Do your part to make it easy for your BOD member to do business with your contact.

There are other things you can do as well. Your BOD member probably has an internet and social media presence. Share their posts and provide positive comments. If you used their product or service, leave an endorsement on one of any number of websites that may rate this business. You can also write a review on Google Local or Yelp!

Opportunities are Out There – Help Your BOD Members Take Advantage of Them

Think about others who serve your clients and introduce the concept to them. You can create your own economy by bringing those to the table who can help your business grow while you help them grow.

The economy overall is struggling while some industries are having record years. In this disjointed economy, make the connections that can help spread the wealth. Those people and businesses doing well may need help from others to keep up, including you and your BOD members. They may be:

  • too busy to do landscaping
  • able to afford a nicer car and are actively searching for one
  • working from home and want an addition. They’re looking for a contractor and want to refinance their mortgage or get a home equity loan
  • looking for accounting or legal help because their business has grown

Are there businesses and people in your network who can fulfill these needs? These are challenging times that require flexibility and creativity. Through your efforts, you and those helping you can enjoy the fruits of your labor.

Help Others Help You

If you want to learn more about how to leverage your relationships, get the most out of your networking strategy, and grow your business, call me at (856)905-7040 or fill out my contact form, and attend one of my online seminars. Let’s start the conversation about how we can help ourselves and others.

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