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Networking for Business Development

Learn the art of networking for business development. Discover the steps to build, sustain, and expand your network effectively while maximizing opportunities. Get tips on self-assessment, planning ahead, making contacts, staying organized, taking action, and sustaining relationships.

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Networking for Business Development

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  1. Networking for Business Development Presented by: Date: Certified Public Accountants Consultants Wealth Management Technology

  2. What is “networking”?

  3. Networking is… • Sharing of knowledge and contacts • Getting the help you need from those from whom you need it • Getting more done with less effort • Building relationships before you need them • Helping others Contacts Help Knowledge You Skills Relationships Support

  4. Networking Involves… • Establishing goals (personal and professional) • Analyzing the type of assistance you will need to achieve goals • Developing your people skills • Building and cultivating “Your Network” • Could be different than the firm’s network • Developing business

  5. How do I build my network?

  6. Six Steps to Successful Networking Step 6 Sustain Step 5 Take Action Step 4 Step 3 Organize Step 2 Make Contact Following these six steps will put you on the right track to achieving your networking goals Plan Step 1 Self-Assessment

  7. Step 1: Self-Assessment • Assess your own interests, skills, knowledge areas, and personal and professional attributes • Take stock, so you can speak about yourself and your firm with enthusiasm • Self-assessment allows you to: • Validate your strengths • Recognize areas that need improvement • Create focus, direction and a plan of action for increasing your networking effectiveness

  8. Step 2: Plan Ahead • Create a list of leads and prospects: • Who do you already know? • Who do you want to know? • Who do you want to know you? • Who do you know, who knows someone you want to know? • Networking CANNOT be a one way street • Research information about your potential networking contact and his/her field • Decide what information you would like to obtain from your contact and prepare a list of questions you would like to have answered

  9. Step 3: Make Contact • Initial contact can be difficult, but remember: • Smile • Approach • Introduce yourself and shake hands • Initiate small-talk • How??? • Prepare an elevator speech • Be able to accurately describe yourself in under two minutes • Your audience determines to what level of detail you should provide • Keep it simple • “You never get a second chance to make a good first impression.”

  10. Step 4: Stay Organized Use a spreadsheet to keep track of contacts and what you discussed: • Contact name, title, company • Address, phone number and email address • How you made contact • Date last contacted • Conversation summary • Names of referrals (to you/from you) • Other follow up steps you took

  11. Step 5: Take Action • Networking is an ongoing process so stay active… • Where to network • Conferences, forums, summits, workshops, seminars, and training sessions • Committee meetings, roundtables, panel discussions, breakfast briefings, award dinners, alumni events, annual association meetings, golf outings, charitable events, (e.g., fundraisers, benefits, runs/walks), sporting events, etc. • Happy hours and other social events • Where to focus • Start with the low hanging fruit

  12. Step 6: Sustaining your network • Don’t let your “rolodex” gather dust – keep in touch through sending occasional emails, updates, links to articles, etc. • Keep your contacts up-to-date on your progress and accomplishments. • Always thank people and follow through on promises made • Email or call your contacts regularly • Respond to any requests made during the prior meeting • Arrange to have coffee or lunch at a convenient time • Be prepared to discuss other things (i.e., sports, family, etc.) aside from work How else might you keep in touch?

  13. What else can I do? • LinkedIn and other business media sites • Professional Sites for your certification • Professional Directories • Circulate written articles to non-subscribers

  14. General Tips • Know the terminologyof your field • Always carry business cards • Try to get business cards from people you meet • Dress appropriately • Practice makes perfect • Try making small talk where ever you are • At the bus stop, on airplanes, in the airport • Get off the phone and take off the ear buds • These give the impression that you do not want to be approached

  15. Questions?

  16. Contact • Name • Title • Phone • xxx@mercadien.com

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