Business networking has become known by business owners and salespeople alike as one of the more effective ways to grow a business. After all, if no one knows you exist, how do you expect to grow? Getting out there to expand your network is the only way to build the initial swell of awareness you need.
There are plenty of reasons business owners avoid networking — especially while they're getting their businesses up and running. I've heard them all over the years:
- “I'm not good in a crowd.”
- “I've never been comfortable talking to strangers.”
- “I don't have all the details in my business worked out yet.”
- “I hate those mixer events.”
There are a million of them — and I'm willing to bet you've used some of these in the past. If I'm being honest, I've used more than my fair share of them myself.
Here's the problem: you may be able to convince yourself, but you're not fooling anybody else. Spend any time looking into how to grow a business and every expert, every guru, every talking head out there will tell you the same thing — building a network is the best way to do it.
Every time I've told myself those excuses, my business suffered for it. I'd see a gradual dip in revenue or find myself sitting around with no meetings on the calendar. Eventually I had to get over myself and recognize that, regardless of the excuse, there's no getting around the benefits of networking. And it doesn't have to be hard.
What Is Business Networking and Why Should I Do It?
Let's start at the beginning. Business networking, at its core, is any activity that lets you meet and create relationships with others in your business community. These can be other business owners, other salespeople, or others in similar roles to you. More often than not, the events you go to will be a mix of all of the above.
Some people go with the goal of finding new potential clients. Others go with the goal of finding referral partners who can help them make new connections beyond the event itself.
Pro tip:You'll find more success in business networking if you focus on looking for referral partners and let the clients come as a byproduct of that. It'll happen — just be patient.
So why network at all? Bottom line: it'll help you grow your business. The best version of that argument I've ever heard comes from a friend of mine, Phil Pelto, founder of the B2B networking organization Firestorm:
Cold calling is the price you pay for not networking.— Phil Pelto
That's a pretty good reason to make networking a primary part of your business development. Honestly — would you rather shake a few hands of people smiling at you, or make a hundred dials to people who are anxiously waiting for an opportunity to hang up on you?
Where Do I Start?
There are a million different ways to get involved in networking around you. Before you pick one, it helps to know the different types of groups out there.
Pro tip:Aim for a good mix, and make sure you're focusing your time on groups that are actually productive. Don't go to events just for the sake of going.
Happy Hour Groups
These are probably the easiest to find — who doesn't like happy hour? They typically meet at a bar or restaurant and facilitate loose, mix-and-mingle conversations. Great for the social butterflies out there. Because there's no real structure, you can connect at your own pace. Depending on your personality, that's either a great fit or a source of significant anxiety.
Panel Discussions
These are great because they give you a specific topic to focus around. Because they're topically focused, you'll often find yourself interacting with the same people repeatedly, which deepens those relationships over time. There's usually time before and after for conversations, with built-in conversation starters like “what did you think of the panel?”
Meal Groups
A staple of the networking world. People get together for breakfast, lunch, or dinner on a regular basis — usually monthly or weekly — with the goal of getting to know a smaller group on a deeper level. Same people every time, so the relationships go deep.
Associations
Great if you're looking to network with other professionals in your own industry. There are associations for almost everything. Often a low-friction starting point for people uncomfortable with networking — easier to start a conversation with someone in your own field.
Roundtables
Similar to meal groups: smaller, focused groups that meet weekly or monthly. The difference is they're purpose-built for helping each other find business. Same core group every time, taking deep dives into each member's business. With the right group, these can be incredibly powerful.
Once You Pick a Type, Find Your Groups
Most places have a Chamber of Commerce that can point you in the right direction. Beyond that, check sites like meetup.com and eventbrite.com for business-focused events in your area. Look into industry associations you can join. Don't have one in your own industry? Join the association of one of your best client types — if you sell to lawyers or real estate agents, join theirs at an affiliate level.
Find something interesting and register. The longer you delay, the easier it becomes to keep delaying. The more you go, the easier it gets.
Should I Have a Strategy?
Yes. Always. Fortunately yours doesn't have to be complicated:
- Know your target client. Identify the industries and company sizes you work well with.
- Know who you're trying to reach inside those companies. Who can actually decide to buy your product or service? (Never let someone tell you no who can't tell you yes.)
- Make a list of complementary service providers. Half of networking is connecting with people who can introduce you to your target.
From there, it's a matter of finding those people and building relationships with them. And remember — don't go to a networking event to sell. Nobody likes that guy.
What to Do Before a Networking Event
Some prep that pays off:
- Have your 30-second commercial down. Know your pitch, practice it before you go.
- Look at the attendee list if you can. Often event hosts publish it. Find friendly faces and people worth seeking out.
- Set a goal for the event. Five potential referral partners? One potential client to follow up with? Whatever it is, know it.
- Bring more business cards than you think you'll need.
- Relax and have fun.You're there to develop relationships, not to close a deal.
What Do I Do After the Event?
Now we're in my territory.
There's an old saying: the fortune is in the follow-up. It's been credited to so many different people I honestly don't know who said it anymore. But it's true.
You stepped out of your comfort zone, met new people, had real conversations. Now you have to follow up with them. I'm going to repeat that: YOU HAVE TO FOLLOW UP WITH THEM.
Way too many people go to a networking event, spray business cards around the room, collect some in return, drop them on a desk, and forget about them. To put it bluntly: those people don't make money networking.
Keep in mind that the people you're hoping to meet with met just as many people as you did at that event. Following up is the only way you have a shot at being remembered. If you're not following up, you're losing money. It really is that simple.
The Three-Bucket Follow-Up System
I sort post-event follow-ups into three buckets, and treat each one differently:
- Talked about getting together again. You met them, identified an opportunity, and explicitly discussed reconnecting. Follow up because you made an agreement.
- Didn't talk about it but want to.Great conversation, high-value contact, but you didn't explicitly discuss next steps. Follow up — there's usually opportunity here, you just have to dig for it.
- Gentle blow-off.Great person, no real opportunity. A polite “nice to meet you, see you at the next one” is enough. Don't spend chase time on contacts where there's no business fit.
Time is the one thing you can't make more of. Spend it wisely.
Automate the Whole Thing
Here's the good news: you can automate this. With a CRM and email automation tools, you can build a follow-up system that automatically sends an email to every new contact immediately after you meet them, then reminds you to call the high-value ones if you don't hear back.
If you're going to send the same email with a couple simple edits to everyone anyway, why are you doing it manually? Make it as simple as you can until it's time to dive deeper into the relationships.
Back to You
That's a lot of information. The takeaway is straightforward: networking is one of the most powerful sales tactics out there, and it should be done plentifully. Cold calling is the price you pay for not networking — and cold calling sucks.
If you're ready to put a system behind your networking so the people you meet actually hear from you again, see how the Networking Follow-Up Engine works. It's the system this whole guide builds toward — pre-built, pre-loaded, and running on day one.