Monday 15th, February 2010
It's not what you know...
During the last year, I have come to realise the significant role that networking, managing client contacts and building strong relationships has been to building our business.
In this issue of Labyrinth News, I will be looking at the steps we have taken in the last 9 months to extend our business contacts.
''It isn't just what you know, and it isn't just who you know. It's actually who you know, who knows you, and what you do for a living.'' Bob Burg
Networking
''The creation and use of personal contacts for one's own benefit or for the benefit of a group.''
Leaders with strong networking skills and a good network, get things done more effectively and learn from other people with different knowledge and skills.
But what is networking?
Networking means getting to know other people, and their abilities and interests - and doing so in the expectation that this may provide mutual benefit.
It is essential to have a clear purpose for networking. It may be your needs can be met through an internal network of colleagues, or an external network of people outside your organisation. A network is different from just spending time with a group of friends, as usually the purpose of networking is to develop a means of interaction which will benefit you or the others in the group.
So your purpose could be to:
o Improve your knowledge of a topic - eg new technology or human resources
o Get to know people who have the same interests or hobbies
o Market yourself or your business - ie to raise your profile
o Meet key people and decision makers
o Research career opportunities
o Help other people by offering your experience - become an expert
o Spot potential new employees
A very simple five stage strategy to develop a network:
o 1. Decide on why you want to network - what is your aim?
o 2. Decide on your strategy
o 3. Carry out research
o 4. Set your goals
o 5. Develop the network
Sound simple? it is, and outlined below are the practical steps that WE have taken in the past few months. Believe me - they have made a massive difference:
Step 1 - our purpose for networking
This was very simple: to improve our network, make contact and build strong relationships with clients, potential clients and past delegates to promote The Learning Labyrinth as a training company of choice.
Step 2 - decide on a strategy
We started with a SWOT analysis - as we do with so many things:
Strengths
o We already have a good network of clients in London/SE
o Enjoy networking
o Passionate about business
o 1100 subscribers to Labyrinth News
o Invested in a CRM system (customer relationship mgt)
Weaknessses
o Lack of time
o Distance from existing clients
o Use of technology
o Living on South Coast there could be limitations
Opportunities
o Join more relevant networks
o Build more local networks in Brighton
o Use of linkedIn
o Build contacts through exisiting clients, delegates and colleagues
o Explore Twitter and Blogging?
o Organise networking events
Threats
o Don't want to be seen as a hard sell
o Spending too much time networking and not earning
o Cost of networking without guaranteed return
The SWOT analysis gave us a clear focus of where we were as a business and helped us write our Business Plan for 2010, ensuring that we:
o Maintain our Strengths
o Remedy our Weaknesses
o Optimise our Opportunities
o Counter our Threats
Remember
''It isn't just what you know, and it isn't just who you know. It's actually who you know, who knows you, and what you do for a living.'' Bob Burg
Step 3 - carry out research
During our research to build relationships, improve our network and build awareness of the business, we established the following:
o If used effectively LinkedIn is a brilliant tool for building your business network (see Step 4)
o Due to new business opportunities sourced via our Newsletter, we have recognised the importance of continuing with sending it out on a monthly basis
o A focus for 2010 - 2011 will be to build strong relationships with past delegates as they are our clients of the future
Step 4 - set your objectives
Examples of the objectives that we have set for the year ahead after producing our SWOT analysis:
o Explore local networking events
o Attend minimum of 1 networking event a month
o Increase our newsletter subscriptions from 1100 to 1500
o Develop a Blog onto our website and use to communicate to past and existing course delegates whilst studying management qualifications
o Target potential clients via existing clients and LinkedIn
Step 5 - develop the network
The snow in January did not get in the way of making a good start to developing our network. Let me highlight some of our successes that have resulted from networking in the first month of 2010.
o We have re-established contact with over 60 past clients/delegates using LinkedIn and we have already had 4 client meetings with several meetings scheduled for next month
o We have already won new business from the above clients contacted via LinkedIn
o We have increased our newsletter subscriptions by nearly 200
Networking top tips
Once you have created that opportuity and made contact with potential clients, I have found SOME of the following tips invaluable before attending a client meeting and ALL of them are essential when attending a networking event.
Before you do anything, it is essential to get yourself into the right frame of mind, when having to face a client or a room full of strangers at a networking event.
Tips
o Set yourself some goals - you are not getting paid so make the most of it
§ eg speak to minimum 3 people, find out 2 things about them and get their contact details
o Remember peoples' names and use them frequently
o Never leave a meeting or event wishing you had spoken to someone in particular
o Dress to impress - be yourself but dress so people will remember you
o Always have your contact details with you - and a pen and note pad (business cards!)
o Smile, be a positive ambassador for your organisation
o Whenever possible, do something for other people
o Preparation and planning is vital
What to prepare
o Try to find out about the people at the event and what their interests are
o Know the timings - don't be late
o Check out the venue, parking etc before the day
o Think about what you will wear
o Think about what you will talk about - even prepare some questions if you don't feel confident around a new group of people (obviously keep them hidden!)
Also, if you ever get an opportunity organise a party, event or set up a networking group.
Party time
Back in November last year I organised a Xmas Bash with some friends (Thank you Janice, Wendy, Christine and Alison).
We decided it would be agood idea to have a child-free evening between Xmas and New year. By 29th December we had sold an amazing 85 tickets to local residents for the Xmas Bash at the local Lido (pictured).
The evening was an amazing success and was well worth the effort. I not only saw many friends and neighbours indulge in plenty of Christmas 'spirit' (you know who you are!), but also,
o Prizes provided by The Learning Labyrinth rasied our business profile
o £110 was raised for the local school - supporting our local community and again raising our profile
o Additionally, I now know so many more local residents!
There is already talk of a Summer Ball...
''All things being equal, people will do business with and refer business to those people they know, like and trust.'' Bob Burg
And finally
On the topic of relationships!
Many of our clients use our Belbin team profiling service to support the development of their:
o Teams
o Individuals
o Relationships between team members, peeers, colleagues and even their clients
As it is Valentines Day, I felt the need to share an extract from the Belbin relationship report that was generated when I combined my Belbin profile with my wife's.
This could lead to a close personal relationship, a mutually fulfilling partnership in a social environment. But otherwise there is some risk that social relations will edge out task orientation. Gary should take the initiative to ensure that this is not allowed to happen.
Spooky!
Anyway, for more information on Belbin profiling or any of our services, don't hesitate to contact us.
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