Smaller businesses are more likely to succeed if they build a solid network of professional business associates. This is because entrepreneurs can easily refer, support and promote clients and other resources amongst their business network. Although larger companies can get by on their own without much outside interaction, small and medium sized enterprises will benefit most from a network of other business owners.
If your company is a local start-up or a large international business, professional networking is always beneficial. We put together some ideas as to how you can design an excellent business network for entrepreneurs, like yourself.
Public Liability Insurance Agent
Every business owner needs an experienced insurance agent that understands your business and will be able to build you a sound insurance portfolio. The basis of all your business coverage is business insurance. If you don’t already have an agent, then work with the experts at BizCover to get free public liability quotes and quick coverage.
All the details can be sent right to your message inbox. Going forward, you can rely on your BizCover agent to help with public liability insurance and any other types of coverage your company will require.
Become Active in Your Community
Even if there are no local business networking events, take it upon yourself to contact other business owners within your neighbourhood. Learn what local businesses are in need of when it comes to resources and share your needs too. By working together to strengthen your respective organisations, you’re also building a stronger community.
Strategise Your Corporate Goals
Before you approach any other business owners, it’s a good idea to set clear goals for your own company. You’ll also want to estimate how many contracts or sales you want. Once you have a comprehensive networking plan, you’ll know which entrepreneurs will be able to help you the most. You’ll be able to clearly tell other business owners what you’re looking for, as well as what you can do for them.
As a sole trader, you already know that approaching your plans with a clear cut strategy is the best thing to do. It makes finding good networking partners much easier since you can easily explain your intentions, as well as explain to them how you both can get something out of this relationship. Once other business owners know the risks and rewards to networking with you, then they’ll be more likely to jump at the chance.
Come Up with an Elevator Pitch
Can you summarise the purpose of your business and pitch it to a stranger in less than a minute? If not, it’s time to practise. Don’t miss out on a great networking opportunity by not having your elevator pitch ready. Remember, you’ll want to talk about who you are, what your company does, what problems you solve, what makes your business better than the competition, and mention some of your future corporate goals.
You’ll need to recite this elevator pitch out loud a few times until you have a smooth presentation. Get comfortable with your introduction speech. You don’t want a potential business partner to be focused on the words your saying and not how you’re saying them.
Make a Great First Impression
We all know first impressions go pretty far when you meet someone new. The same is true of networking opportunities. You want to present a positive image of yourself and your business. This gives others an idea of who you are and what you’re about. So, put on your best clothes and shoes, be professional, arrive on time, and mind your manners.
Being a good listener is also an important part of making a good impression. During a networking situation, everyone is talking and trying to make a point. The trick is to slow down. Pay attention. Listen to what other people are saying. Don’t just wait for a chance to start talking. Concentrate on the other business owner’s conversation and ask questions.
Follow Up Frequently
When building your business network, follow up with people you meet constantly, which is something not many business owners feel comfortable doing. You have to remember, making a connection with this networking partner is top of mind for you but may not be for the other party. They have deadlines, expenses, projects and employee matters to distract them. Don’t be afraid to take the initiative and reach out to your connections. For the best results, take the initiative by following up after 24-hours.
In your email or voicemail message, mention something you two spoke about when you met for the first time. This will have the other person remember you.
Let the Business Owner Networking Begin
Business networking events are a great way to meet like-minded individuals who can assist you in the journey to success, and vice versa. The tip to being a good business networking partner is to be proactive, professional, and honest. By following this guide, you will be able to land a networking web in no time.
Also Read: Benefits of Network Storage for Companies