How to Improve Your Networking Skills to Increase Your Net Worth

Posted on: May 12th, 2017 in guide, Mindset by Pat Mesiti | No Comments

Europeans versus Anglo-Australians

Europeans have a very different attitude to business networking than Anglo-Australians. Networking is using your professional and personal connections to grow your business. However, quite a few Anglo-Australians believe it’s not a good idea to mix business with pleasure. But my background is Italian and my family definitely followed the European way. I think the European approach to networking stems from village life. In a village there are only a few key families. They socialise together and they supply services to one another – there is a butcher, baker and a candlestick maker! Eventually the children of these families intermarry. There is often no clear-cut separation between family, socialising and business in the village. It’s in everyone’s interest to support each other. Many Europeans in Australia approach networking in this way. They take their business to friends and family, and there is an expectation that friends and family will support their business.

But in Australia, networking is not as prevalent. Of course in the public service there are laws that curtail networking in an effort to circumvent corruption. Every contract must be put to tender and advertised widely. The government department sets criteria and the contact is awarded strictly on the merits of the companies that apply for the tender. Every public service job is widely advertised, again selection criteria are set out and the candidate is chosen on merit. In the private sector, it pays to network. If you have a digital business it’s essential that you establish online networks to promote your products and services. You want your brand to be widely shared on Facebook and other social media sites.

Step 1: Finding Relationships that Benefit your Business

To network successfully on and off-line you always have to be on the look-out for relationships that could benefit your business. You might bump into people socially and professionally who could help you increase sales or invest in your business. A good networker has to be confident enough to spruik their business in any situation. Business cards are still an essential tool. Your card must have your business website address and a contact number, as a well as a short mission statement.

You might want to begin networking by joining a local chamber of commerce, an industry association or just a club that unites people with shared hobbies or passions. Going to chamber of commerce events is helpful even if you have an online business and no shopfront. Tell the members what you do. Pass out your business cards – hopefully some of your new contacts will visit your website. Show interest in other people’s business. Collect as many business cards as possible and keep them in an organised folder. You might even want to write some notes to accompany the business cards. For example, Ned Smith owns a sports shop. He used to be a professional footballer and bought the sports store three years ago. Perhaps one day knowing an ex-football star could come in handy!

You never know what opportunities you might stumble across at a chamber of commerce or industry association meeting. Remember also that the people you meet have their own networks. These people might be able to open doors for you in the future – introduce you to influential business people in all sorts of industries.

Business people with established enterprises are an invaluable source of knowledge. You might be in a totally different industry, but they could still help you with online marketing, advertising, staff retention. Networking is a brilliant way to tap into advice that normally you might have to pay for!

Step 2: Get Noticed

Always remember that you represent your business. Getting noticed at business and social events raises your company’s profile, but you want to get noticed for the right, not wrong reasons. You need to present yourself as a highly capable and personable operator.

There is nothing wrong with subtly promoting your business in a social setting. Just don’t dominate the conversation and brow-beat others. Make one comment about your line of work. If the people around are receptive and show interest you might want to summarise what your business does in 20 to 30 seconds. You should know your company mission statement off by heart. This should suffice.

Never say anything disparaging about competing businesses in professional or social settings. You should be watching what your rivals do closely and learning from them. If anything, you should aim to have a cordial relationship with the owners of rival businesses. There may come a day when your opposition decides to close down or relocate then they will be looking to pass on their customers to a reliable and decent business operator – ideally they’ll think of you!

Step 3: Attend More Events

Perhaps you are shy and don’t believe that you have the people skills to successfully promote your business. The truth is that the more events you attend the more people you meet, and the more confident you will become. You will get better at introducing yourself and ‘selling’ your business.

In addition to chambers of commerce and industry associations, hobby and sports clubs are fantastic places for networking. You will get to talk to motivated, can-do individuals – people who will inspire you to excel in your business.

Another wonderful benefit of networking is that you often meet like-minded people and sometimes you are lucky enough to develop a real and lasting friendship with a business associate – a friendship that enriches your life.

ABOUT PAT MESITI

Pat Mesiti is a best-selling author, coach and educator in the area of personal development. Having built some of Australia’s largest people-driven organisations, Pat understands the power of harnessing human potential. He has shared the stage with some of the world’s great business minds and has sold over millions of copies of his books and materials.

 

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