Networking is the process of meeting people and determining mutual
needs so as to fulfill mutual goals. It involves the exchange of
ideas, resources and contacts between two or more people. The
effectiveness of that exchange can be greatly increased by using a
simple strategy when forming your networking circle.
One of the most effective ways to increase your productivity, is to
be selective with your networking circle. If you form close, solid
business relationships with firms that offer products or services
that compliment yours, you will have an endless stream of
referrals. Powerful networking occurs when one client's needs could
be satisfied by several business professionals in the same
networking circle.
As an example, let's say you are a Realtor. You sell residential
properties. For every sale you make, you or your client may need
the services of the following group of business professionals:
1. Mortgage Company- to finance the sale.
2. Title Company- To search the Title.
3. Moving and Storage Company- To move the seller once closing is
done.
Depending on the condition of the property, any one or all of the
following may be needed:
A plumber, an electrician, a roofer, a cabinet maker, an architect,
a carpet cleaner, an interior designer, and a pest control firm.
In this example, one house sale could have meant business for
eleven other businesses as well. The same works in reverse. Any one
of those eleven other business professionals, during the course of
their day, could come across someone who needs a Realtor. A smart
Realtor would seek out the best professionals in the above fields
and begin to form good working relationships with them.
That is why it is so important to figure out what other businesses
would be a good referral base for your firm. What businesses are
related but not competitors? Let's look at another example.
A person decides to start a business. What products and services
would that person need before they could even open their door for
business? An attorney, a CPA, a printer, a sign company, telephone
systems, office machines, office furniture, office supplies, and a
computer. That one lead would be a lead for at least nine
businesses. So it makes sense to form relationships with business
professionals who can refer their clients to you on a regular
basis.
If you belong to a networking group, you will see these groups form
within a group because of the ease of finding leads for each
other. It is common within such a networking group to have the
following networking circles:
1. An Automotive Circle
2. A Financial Services Circle
3. A Wedding Products and Services circle.
4. A Real Estate Circle.
5. A Retail Circle.
6. A Medical circle.
7. A Business Services circle
8. A Consumer Services circle.
Make the most of your networking hours. Determine what firms could
help you the most and then go out and build solid business
relationships with them. You will be glad you did!
Nancy Roebke, is the Executive Director of Profnet Inc, a
professional business leads generation corporation. We bring
business professionals together in a non-competitive environment to
help each other make more money.
Nancy Roebke - mailto:execdirector@profnet.org
http://www.profnet.org
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