Entrepreneurship Workshops: Networking

1. Entrepreneurship Workshops:Networking Glynnis M. Johnson, Ph.D. Medgar Evers College Spring 2011

2. What you will learn today: Definition of business networking Purpose of business networking Tips for successful face-to-face networking Places where face-to-face business networking takes place Benefits of online networking Tips for successful online networking Top websites for small business owners

3. What you will learn today: How to build your own business card How to write a 1-2 sentence personal brand statement How to write a one minute elevator speech/pitch How to write 1-2 paragraph biographical sketch How to start your own networking group

4. Definition of Networking • The process of establishing a mutually beneficial relationship with other business people and potential clients and/or customers. • The key to true business networking is the establishment of a mutually beneficial relationship - a rare event at the standard shake-hands-and-exchange-your-business-card events that are touted as business networking "opportunities".

5. Purpose of Networking • The ultimate goal of business networking is to increase business revenue - one way or another. • The thickening of the bottom line can be immediately apparent, as in developing a relationship with a new client, or develop over time, as in learning a new business skill.

6. Purpose of Business Networking • The best business networking groups operate as exchanges of business information, ideas, and support. • The most important skill for effective business networking is active listening - focusing on how you can help the person you are listening to rather than on how s/he can help you is the first step to establishing a mutually beneficial relationship.

7. The 3 P’s for creating a power network? • Preparation: Be prepared with your one minute elevator pitch. • Purpose: Know your purpose in building your power network. • Presence: Attend events. You have to have a physical presence and interaction as well. • From the Successful Networking Strategies article

8. Where does networking take place? • Social Clubs and Organizations • Professional Associations • University and Company Alumni Networks • Trade Shows • Social Events

9. One Minute Elevator Pitch • Comes in handy for any occasion where a concise presentation is appropriate. • Not the hurried presentation of a full-blown business plan. • An introduction, an overview and a pitch - and a short one at that - meant to capture the attention of a potential investor. • Two key things to keep in mind: its content and its form--it is not just what you say but how you say it.

10. Where else does networking take place? • Internet communities or social media • MySpace • Facebook • Linked In • Twitter

11. The Benefits of Online Networking • To build brand awareness • To engage potential customers • To build your network before you need it • To listen to others (business people and potential clients and/or customers) • To share your ideas • To demonstrate expertise in your niche

12. The 3 F’s of Social Media • People need to create the three F’s to actively participate in social media: • Followers: People who like and trust you; • Friends: People who will share your content, post comments, and rely on your message; • Fans: People who will bookmark your blog or Website and will likely need giveaways and incentives to keep coming back. • From the Social Media: The New Currency article

13. Top 10 Social Network Websites for Small Businesses

14. 1) Constant Contact Community • Small business owners can now communicate on the ConstantContact community network, a leading email marketing and online survey tool. • A membership with ConstantContact allows small business owners to discuss various topics on discussion boards, ranging from businesses referrals to useful resources.

15. 2) Facebook • Facebook connects friends, coworkers, and classmates in various regional networks, favoring high school and college students. • Facebook pages or groups can be created for small businesses to allow any member to reach, contact, and receive information about your business.

16. 3) LinkedIn • A new vocational network, LinkedIn, connects professionals around the world. • Profiles are based on professional accomplishments which allow coworkers, colleagues, and clients to find you. • Search for jobs, create connections, and research other members for potential occupation opportunities.

17. 4) MySpace • MySpace connects you with friends, family, and other businesses around the world with the online community of MySpace. • Unlike Facebook, MySpace encourages one online social network which allows small businesses to easily share information and communicate.

18. 5) Spock • The ingenious networking of Spoke helps business owners already in the online social network to expand their contacts on the web. • Users refer other business owners to join Spoke to have more resources on the Internet within their network.

19. 6) Konnects • Like many business social networking sites, Konnects allows business owners to build a website, join discussions, and access thousands of online communities. • Konnects builds small business knowledge by allowing members to centralize your business network and learn more about your colleagues or competition.

20. 7) Ryze • Ryze allows users to create business contacts, help your company make deals with other businesses, and build your small business network online. • Reach thousands of business owners within one social website to share ideas, goals and beliefs.

21. 8) XING • Connect on a business level with powerful people around with world with XING. • Searching for people and managing contacts allows small businesses to expand their network. • Experts, decision makers, and colleagues on XING can help small business owners get professional business information.

22. 9) Friendster • Dedicated to ensuring friends, family, and coworkers stay in touch, Friendster enables users to share information about their interests. • From referring other users to small businesses, to helping advertise your own, Friendster easily allows users to share information on their social networking website.

23. 10) Networking for Professionals • The unique community of Network for Professionals combines social networking in both the virtual and real world. • Members post their business profiles online along with pictures, videos or published articles, as well as commit to attending business networking events. • The face-to-face interaction with your online colleagues gives this site an edge over many business social networking sites.

24. Assignment #1 • Read the handout on starting your own networking group and start your own group within the next 3- 6 months. • Example: MEC Entrepreneurship Alumni Association

25. Assignment #2 • Identify and attend at least 3 networking events in the next 3-6 months. • Get some business cards. • Write 1 minute elevator speech/pitch. • Write 1-2 sentence personal brand statement.

26. Assignment #3 • Register with at least 3 online communities in the next month. • Read article on biographical sketches. • Write a 1-2 paragraph biographical sketch and upload to your online profile.