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Networking–It’s More Important Than You Think
Franchising World, January 2007
And often, it’s easier than imagined. By Joe Bourdow Here is an interesting mental exercise....Take a moment to reflect on a few of the better things that have happened over the course of a person’s business or personal life. Chances are some of the biggest successes happened as a result of relationships that started simply because of chance encounters with new people who were met unexpectedly along the way. Regardless of the situation, rubbing elbows at an industry event, or worse, waiting for hours for a delayed flight, these unexpected meetings can sometimes turn into the most fruitful relationships.
It’s called serendipity Regardless of how technology advances, personal relationships continue to open up new doors of opportunity in all aspects of life. Phone calls are fine and e-mail is great, but there is still no substitution for in-person, face time with people who may help a person succeed in business or advance a career. In sales, professionals generally label the opening of new business relationships as “prospecting.” When the opportunity presents itself to do the same in the relaxed atmosphere of a social setting, a Chamber of Commerce meeting, a civic club or other event, it’s called “networking.”
Network: The Core Positive networking has been a key to the Valpak franchise system’s growth over the past 38 years. New franchisees are matched with more established franchisees with similar market sizes and conditions, who can provide valuable advice, help solve problems and encourage greater growth. The Valpak Dealers’ Association sponsors five different advisory boards that provide networking opportunities with fellow franchisees and company executives. The annual sales convention is all about people helping each other grow their businesses, celebrating the entrepreneurial spirit that is shared by all and developing more successful relationships in the network. In the franchising sector, there is no better networking event than the International Franchise Association’s annual convention. There are plenty of scheduled networking opportunities, including the Taste of Franchising, the Exhibition Hall, breakfasts and countless other scheduled events. Even though the IFA annual convention has grown into an event with thousands of attendees, there are still plenty of opportunities to meet dozens of other participants and to make new friends who may help advance a business or a career.
Starting the networking process The best advice from the experts is to simply wade in. Don’t wait for an invitation to join an informal conversation that might be occurring at a reception or in an exhibit hall. Just walk up to anyone, introduce yourself and start a conversation. That’s what everyone else there is doing. Networking is one of the reasons these types of events are scheduled in the first place. For those who are new to networking, an unstructured, relaxed approach to meeting new people is a good start. However, for those who want to really maximize the effectiveness of networking, creating a structured plan of attack is probably better than relying on chance encounters.
Create a networking plan Write down the objectives and take some time to review the conference attendance list to identify the best companies or individuals who could make great resources. Make a list of networking targets and create a plan to meet everyone on the list. Even at an event as large as the IFA convention, it’s relatively easy to find networking targets, especially if they are exhibitors at the event. Another benefit of networking at convention events is that individuals are often more receptive to making appointments for informal meetings than they normally would be in busy office settings. Try to set a goal to initiate one or two solid relationships that are likely to benefit the business. If this can be accomplished at every networking engagement, the investment in time and money to attend these events will pay off tremendously. While strategic networking is a direct approach to meeting the right people, always remember that the biggest opportunities can present themselves in unpredictable, chance encounters. Never miss an opportunity to open a conversation with someone in an elevator, in the lobby or in an airport. Big opportunities have a way of appearing in the most unlikely of venues. To build any business or personal relationship, it is always good to be inquisitive. Let the other person do 80 percent of the talking. After making an introduction, ask sincere questions and let the other person talk without interruption. Make a good impression, but keep the conversation light and low pressure. The objective is to get to know the other person while listening closely for any common ground that can be the basis of a future relationship. Remember that even conversations that ultimately do not directly lead to a relationship may lead indirectly to business through referrals. Always have plenty of business cards on hand at every networking event. Jot down a quick note on the back of each business card that is collected. This will help to later recall what was discussed with specific people. Once back in the office after attending a convention or networking event, take the time to send an informal note or e-mail to everyone who was met during the meeting. While a person may not have discovered any common ground for a business relationship during the short introductory meeting, the person who was recently met might have an idea and be interested in a follow-up gesture. A thank you note might also result in a referral or another opportunity in the future. Just the fact that someone took the time to be polite will be noticed. Unfortunately, this sort of polite follow-up is the exception today in business and not the rule. Even if the intention is to follow-up at a much later date, still send a thank you note to keep the friendly, informal line of communication open. Never throw away gathered business cards. A person might have just been at the right place, but at the wrong time. Hang on to those cards, because the one thrown away may be the very card someone needs six months from now. And, never miss the opportunity to speak, serve on a panel or write an article for a trade publication. All of these can open up great networking opportunities. Joe Bourdow is president of Valpak Direct Marketing Systems, Inc. He can be reached at joeb@valpak.com.
There’s a word for discovering valuable or desirable things unexpectedly: It’s called serendipity. But serendipity doesn’t have to be accidental or by chance of fate. One can facilitate the conditions that allow desirable things to happen. If someone believes that good timing is important in business and also believes in playing the odds, it makes sense to keep trying to meet new people all the time. The more people someone meets, the better the chances will be to find good, new, personal and professional opportunities. That’s serendipity.
The opportunity to easily network is at the core of any successful franchise system regardless of its stage of development. No matter how enlightened, involved and supportive the franchise organization, there is nothing more valuable to a franchisee than personal relationships with successful franchise owners in the system. Good franchise systems understand this and encourage easy networking through well-planned meetings, mentor programs and the like. Creating and fostering a culture of networking benefits an entire franchise organization. As each franchisee gets better, the entire franchise system also gets a little better.
Those who are not inclined to dive into social situations and start conversations with complete strangers are not alone. There are many people who are a little uncomfortable with the thought of networking. And this includes people who are otherwise very comfortable in other common social settings. But, if someone wants to create those “serendipitous” opportunities mentioned earlier, it’s time to set aside any reservations and seize the opportunity to meet new people from other organizations.
To create a networking plan, begin by identifying the objectives. The objective may be to locate someone who is looking to make sales, find new potential suppliers or simply get some expert advice.
