How to succeed (and fail) at business networking. The ONLE Networking Show ep27.

Kelly and James discuss the different ways in which people can both succeed and fail at business networking. Plus we hear the thought provoking comments from our members on their thoughts about selling to or through the room based on Chris Mansfield's ONLE Talks message.

Listen/subscribe on Apple Podcasts:
https://podcasts.apple.com/gb/podcast/how-to-succeed-and-fail-at-business-networking-the/id1500905335?i=1000637916973

Listen/subscribe on Spotify: https://open.spotify.com/episode/0By1AZ8UHyF8TfWaAxn5ru?si=pvYGJLjCT2qG4RimxE_-Rw

Our sponsor

The ONLE Networking Show is proud to be sponsored by The Mayflower Theatre in Southampton. The Mayflower is a live entertainment venue which attracts more than half a million visitors every year, contributing more than £70 million to the local economy each year. The Theatre is deeply involved with the local business community, you can find out about corporate events, room hire and business membership using the following links:

Corporate events and room hire-  https://www.mayflower.org.uk/functions/
Business membership- https://www.mayflower.org.uk/support-us/business-membership/

Show notes
How to succeed (and fail) at business networking

In this episode Kelly and James discuss the common pitfalls people fall into when they start their journey of business networking. These have been narrowed down to three key reasons why people fail:
- Face-to-face cold calling
- Thinking there’s not enough bigger businesses for you in a group
- Failing to give but expecting to get

All too often people approach a networking meeting like a cold calling activity, with no desire to build a relationship with other business owners. Approaching your networking activities with this attitude in a people-first network such as ONLE, will only ever lead to a disappointing result. The networking space is not an opportunity for you to simply sell at people, but rather a chance to create relationships. with others and generate leads and referrals through genuine mutual connections.

It is ignorant to think that just because there may not be a room full of big businesses in front of you, that you cannot gain the value you are looking for from those who are present. As a rule of thumb, each individual has approximately 150 contacts, so it is a common misconception that there are not enough people or enough bigger business owners in the room - you don’t know where a connection could lead you.

Finally, although it may seem counterintuitive to some, in order to gain value from a network you first must give to others. Networking is a long term give and take activity and though it may seem like some people consistent get leads and referrals from showing up at networking, what you haven’t seen is the years for support they have provided to others in order to build meaningful relationships.

But enough about the negatives - the four steps to networking success James and Kelly discussed are as follows:
1) Realise the scale of the opportunity
2) Treat everyone with equal respect
3) Help first before asking for help
4) Know what you are asking for - don’t ask for support until after step 3 - you need to earn credit first.

It is absolutely key not to underestimate the power of just one single connection just because they seemingly cannot help you directly. The business world is smaller than you think and there may only be a few degrees of separation between you and an important client which could make all the difference to your business. But in order to find these valuable introductions, you must be open to all connections and not only will you find business leads but also lasting friendships in then process.

Plus, though you may know what you want to get out of networking - more often than not this is more clients or sales. Do you know how to ask for it? Following on from Chris Mansfield’s ONLE Talks about separating the difference between selling to and through your network, he identified that a lot of networkers cannot articulate who they want to sell their products or services to. All to often we hear “I can sell to anyone”. But will that vague ask stick in the minds of those in the meeting once they have left the space. Be specific about who you want to speak to and why.

ONLE member Spencer Thomson talked about people not always being present and valuing their networking activities with the comment “it’s exactly the same as buying a gym membership, not going to the gym and wondering why you’re not seeing the result”. Also Jodie Newman hit the nail on the head with her comment “you don’t need to sell to the room but you do need to sell your story because otherwise how will people remember you or what you offer?”

Conclusion: Don’t underestimate someone just because they seemingly cannot help you directly.