What is business networking? The efforts surrounding building a professional network and getting to know other business professionals as a means to 1) perform your current job better through the acquisition of industry knowledge, industry news, new business leads or mentorship 2) acquire a new job in the same, related or different industry.
Impact of Business Networking for Career Growth
What allows every company to retain employees and stay in business? Clients who pay money to the company for goods or services provided. This can look different at every company but for a business to sustain itself, it needs revenue. Some companies have dedicated Sales or Business Development teams whose entire focus is helping win new work. For those roles, networking events are a great way to make new connections in the business community and learn about new opportunities for your company. Even if it is not your official job to help your company with business growth, leads or information that contribute to the overall effort of winning new business are greatly appreciated and get noticed by managers and executives. Why? Because finding leads and winning work with new clients and even existing clients is hard work! Competition is fierce in most industries and winning requires strategic thinking and effort. I have seen it again and again where professionals who assist in efforts (both big and small) to grow the business, accelerate their careers more quickly. Of course you also need to excel in your core work functions but those who do both will typically take their career to the next level faster. Many small businesses do not have resources for dedicated sales professionals and therefore an “all hands-on deck” mentality is typically the norm.
Example of a non-sales professional having a company growth mindset
I am the Director of Business Development for a national architecture firm. My focus is growing the higher education market in Denver. Recently, a colleague from our Phoenix office reached out and shared that a family member is on the Board of Trustees for a local Denver University. At a recent family function, the Board Member mentioned that the University plans to build a new Science Building relatively soon. My colleague sent this information to both my manager and me and offered to help get us introduced to the right people. By having a “business development mindset” my colleague created a strong business opportunity that was previously not on the radar for the Denver office. While I am always mindful of giving credit for business referrals, leads and intel, my colleague should absolutely be sharing his efforts with his own boss as well. Remember, no one will ever care as much about your career as you and therefore it is your responsibility to promote all the above and beyond things you are doing.
Where to Start?
Many industries have associated organizations / associations that hold regular meetings. If the group is national in scope, often there will be local chapter that hosts regular events and meetings. Pick an organization that interests you and attend regular meetings. This is a great place to start your networking journey and meet like-minded individuals and industry experts. Many associations have discounted rates for new members under a certain age. Most companies encourage professional development and participation in business networking groups and will therefore reimburse any costs. Just ask!
Non-industry related groups are another option. For example, a local alumni club chapter for your college or university; a charity that holds fundraising and social events and needs volunteers; your local chamber of commerce. Once you pick an organization, be committed to participate for at least 6 months. Consistency is how you will build meaningful personal and business connections. If after 6 months, you are not finding value in the organization or enjoying the people you meet, pick another one. Many groups will often have LinkedIn Groups and/or Facebook Groups and therefore if in-person events don’t feel like a good fit or don’t work for your schedule, the virtual groups can provide another avenue to meet more people and learn.
How do you actually “network?”
Ok, you’ve joined an industry related group, and tonight is the first event you plan to attend. Meeting new people is easier for some than others but everyone can do it! Follow the below playbook to confidently navigate the event.
1) Set a goal: Go into each event with a specific goal such as:
- I will meet 3 new people
- I am going to join a group of people already in an active conversation
- I am going to introduce myself to Ted from St. Mary’s Hospital
- I am going to learn more about “x” topic that I keep hearing about
2) Attend with a friend or colleague: If you know someone else in the organization, make a plan to attend together. If you don’t that is ok too! Many people attend events solo, including myself!
3) Join a conversation: Often people will be clustered in small groups having conversations. Some people already know each other and others are just meeting for the first time. Whether you are with someone or alone, the best way to join a conversation is to walk right up and either say “Hi – may I join you?” or even just “Hi, I’m Meg.” From here, the group will introduce themselves as well and include you into the conversation. Interruptions are constant and expected at networking events so don’t feel like you are being rude. Quite the opposite as the majority of the people attending will have similar goals: building relationships with the right people, seeking new business opportunities and/or meeting new customers.
4) Have your 2-3 sentence elevator pitch ready that introduces you. “Hi, I’m in Business Development with Adams Company which is a national architecture and engineering firm. We focus on complex building types such as research facilities.
5) Know when to move on: I often see people unsure how to exit a conversation that has run its course or that doesn’t meet the goals you set for the event. Easy ways to transition out include “I’m going to walk around and meet a few more people” or “I am going to grab a water and some snacks. It was so nice to meet you.” Once you do this, join another group or individual. If you are at an event to meet a specific person or learn an update about an upcoming project, be focused and intentional about achieving that goal. Move on when it suits you.
6) Follow-up: There is no need to exchange a business card with every person you meet. If you are in a sales role, exchange information with individuals where there is a mutual business success opportunity such as sharing leads or industry knowledge. Perhaps you want to meet for coffee or lunch at a later time to discuss leads or even just connect on professional social media networks such as LinkedIn. If you say you will follow-up with someone, honor that commitment and watch your network grow with time.
Once you get a few events under your belt, you will be amazed at how much easier they get. The first event you may know no one but if you put yourself out there and meet a few new people each time, you’ll be amazed at how quickly your network will grow.
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