What's the Point of Networking? by Ludwina Dautovic

Have you ever asked yourself 'what's the point of networking?'. If you have congratulations. It is a fabulous question that when asked intently will give you some insightful answers.

So, what is the point of networking? Networking is one marketing technique that when conducted effectively can produce some amazing results. However, if you attend networking events just 'to see what happens' then that's all you'll get - a birds eye view.

How do you network effectively? That's another great question. Following are some great questions to ensure that your valuable investment and a night out of your already busy schedule, is well worth your effort.

How will networking meet my needs? Networking can be a fun night out if your needs are to meet people and have a good time. However, if your networking needs are more about meeting people who can support you in your business then your needs are different. By identifying what your needs are prior to attending an event, you are more likely to connect with people who can support you in those areas. e.g. We are currently planning a huge fundraising event, therefore I need to meet people who would be interested in providing sponsorship both in kind and financially. Now that I know what my needs are, I know who would be beneficial to meet.

What type of event should I be attending? Now that you are clear about what your needs are, you can decide what type of event would best suit you.  Is it a corporate style event? An industry event? Or a women's only networking event like ours? Now that you know, you can decide where to invest your networking budget and be very specific about which events to attend.

How much time do I have to invest in networking? You need to be clear about how much time to allocate to networking each month. Remember, networking isn't just about the time you spend at the event, it also includes the time you spend following up and determining whether an association with this person will work or not.

Who would be an ideal lead/Joint Venture Partner or Strategic Alliance? Before attending an event, make a list of ideal Joint Venture partners. i.e. a make-up artist would partner well with a hairdresser, stylist or photographer. If you are clear about your networking goals then chances are you'll achieve them.

What is my follow up strategy? It never ceases to amaze me how many people don't follow up after an event. Think about it - what's the point of attending if you don't do anything about it afterwards? And consider this, the value of your evening is not determined by the amount of business cards you collect; it's about the quality of the leads you generate. So, how are you going to follow them up? You could call them, have a conversation about what's possible, decide on whether it's worth having a coffee with them and take it from there. But remember this - it's not just the time to have the coffee you need to think about, it's the time it takes to put on the lippy, do your hair, drive to where you are meeting and the drive back. Lock in about two hours.

So now that you have a clear understanding of what it really takes to network effectively, take some time prior to your next event and write up your goals and intentions and notice the difference it makes to your approach. 

Happy Networking!

Copyright Ludwina Dautovic 2009

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Ludwina Dautovic is the director and founder of The Red Tent Woman an organisation supporting women in small and home based businesses. They host networking events, offer business mentoring and provide online and offline resources. Ludwina specialises in low cost and innovative approaches to niche marketing and effective online marketing strategies.

The Red Tent Woman is the 2008 MCEI National Marketing Award Winner for the ‘Women in Business’ Category.

If you are looking to start your own small business or have been struggling with your existing one then go online now to get your free e-report and audio on ‘The 7 Keys to Unlock your Business Potential’ valued at $97 – www.theredtentwoman.com.au