What is Business Networking?

Although business networking has probably been around as long as business has, I can remember the time when business networking really wasn’t the buzzword that it is today.  Far fewer people got themselves involved in networking and it tended to be through local Chambers of Commerce, organisations like the Rotary Clubs and Professional Associations.  It could be a little ‘stuffy’ in comparison to what happens today and you certainly didn’t have a business environment where many people, across most trades and professions, are either being encouraged to network by their peers, or they just feel that they ought to be doing some networking.  Probably, from the fear that they may be missing out on something.

Ultimately, networking is a marketing tool.  It’s another string to our marketing bow, alongside the likes of newspaper advertising, direct mail, an online presence and a wide range of other marketing techniques and tools that are available to us.

Most people participate in the networking arena because they are looking to generate more business for themselves and their companies.  Many of those that participate in networking work in the sales side of their business which accounts for one of the weaknesses in the approach that many have to their business networking.  They tend to approach their networking with a selling mindset.

The other major group of people that are actively networking are people that run their own small to medium sized businesses.  These people are usually responsible for bringing in business but don’t, usually, have a sales background and one of the reasons that they get involved in networking is that they see it as being a relatively easy option.  Of course it can be, if done correctly, but seeing it as an easy option can also be a weakness in your approach.

Whilst networking isn’t, necessarily, difficult.  It certainly isn’t easy.  It requires a certain kind of approach to be really effective and, for most people, it’s not an approach that comes naturally.

The approach really is quite simple but the difficulty comes from the fact that it does require consistency, self discipline and a particular mindset – and you do haveto do something to make it work for you.

In the society we live in we have a tendency to expect instant gratification in most things we do.  Because of that, and because of sales targets and objectives, the majority of people look for a quick result from their networking efforts.  This leads them to approaching their networking from the wrong perspective.  They have the wrong mindset.

The Networking Mindset

If you have the right mindset, you understand certain things about business networking;

• You understand that networking is not about making lots of contacts, it’s about building relationships.
• You understand that networking is all about what you bring to those relationships, not what you can get from them.
• You understand that you have to give, without expectation of what you may get in return.
• You understand that trying to sell directly to the people you meet when networking (hunting) is an approach that most people find off-putting.
• You understand that cultivating the relationships you build creates confidence and trust and that, when you have someones’ trust, they will refer business to you (farming).
• You understand that people who trust you will want to do business with you themselves, you won’t have to ‘sell’ to them.
• You understand that if you help enough people to get what they want, what you want will take care of itself.
• You understand that this is a philosophy that applies to life and not just to networking.

This last point is particularly interesting.

I must confess that I love people watching.  Seeing how different people behave in certain situations, watching how they react to other people, gaining an insight in to how they approach their personal and business relationships.  I’m always interested to see if people behave with congruency.  Does their body language, the use of their voice and the actions they take support exactly what they say.  Is there a complete consistency?  For many people, this is not the case.

I firmly believe that truly successful business networking comes as a result of your contribution to other people.  Your willingness to help them in any way that you can.  The more you help, the more you will ultimately benefit, in return.  It’s a farming mentality.

In BNI they refer to this philosophy as ‘Givers Gain’ and I’ve always found it fascinating to pay attention to how members understand and embrace  this philosophy.

Without fail, those that experience the highest levels of return for their networking efforts don’t simply apply this philosophy in their dealings with their fellow members.  They apply it to all elements of their business and to their life, in general.  It’s a philosophy that is a part of the person, a philosophy that “comes from the heart”.

In contrast, those that don’t do so well tend to only apply this philosophy in their dealings with their fellow members, and even then, only when it suits them.  Essentially, it doesn’t “come from the h eart” and, as a result, they don’t get the same level of return.

So that’s what business networking is.  A marketing tool that requires the application of a “farming” philosophy in order for it to work to its’ maximum effect.