Dear Friend:
When I turn the calendar page from October to November, I am reminded that the holiday season is fast approaching. This typically means holiday parties, get-togethers, dinners and socializing with friends, friend-of-friends and work associates. In past years, a few seemingly casual conversations over the holiday cheer turned into good business opportunities for me. In a relaxed way I was networking. Networking, when done well, can be a great way to grow any business. In this month's newsletter we'll talk about how you can network for personal and professional growth. It's a powerful tool in your marketing arsenal. We know you have a great network - now it is time to use it!
- Mitch Lapides, Executive Editor
HomeTech Business Building Ideas
P.S. No time to travel? HomeTech is considering launching an online seminar series and would like to know which topic you are most interested in. Click here to let us know.
In This Issue
- Feature Article: Networking for Success
- HomeTech ADVANTAGE Tip
- Did You Know This Remodeling Industry Fact?
Networking for Success
Networking is really quite simple - it really means just engaging in conversation. We have conversations every day - whether or not we intentionally network these conversations is up to us. By understanding a few key points about networking, you can turn any conversation into a networking opportunity for you and your business.
But there are some common misconceptions about networking that can scare many people away from using networking to their advantage. In this article, we clear up the confusion and give you tools to use to help you network for success.
TRUE OR FALSE:
Networking provides you with a great opportunity to let others know what you do.
False. Most likely if your intention is to network, you'll engage in a conversation to let the other party know what it is that you do. Often times, you'll come across as selling yourself. Once you understand that networking can increase your sales not by selling to people you are talking to but by being referred to their clients, friends, family and suppliers, you can focus more on developing a rapport with that person and a relationship that will last longer than the conversation you are currently having.
There is no bigger turnoff in a conversation than the person who is always talking about himself and what he has to offer. To network well, don't sell yourself. Instead, make it your priority to help those you are talking to. Be a great listener, by spending the time to find out what is important to the other party. Make it a point to try to understand their business and the challenges they are facing. Figure out how you can help the other party - make suggestions as to how you have addressed similar challenges, introduce them to your network of friends and contacts, be a really great resource for them.
By helping others first, you will find that as your relationship grows the advice and help you give will come back to you tenfold. Your contacts will be willing to introduce you to their network of friends and associates and want to help you as much, if not more than you have helped them.
TRUE OR FALSE:
Networking is an art, not a science.
False, for several reasons. Just casually meeting someone, having a conversation with them and collecting a business card does not mean that you've done a good job networking. You need to be more intent about where you meet people and what you do with a card you collect, or a contact you establish, once you've finished your initial conversation.
Intentionally seek out the "right" networking events
You can make great contacts at social events, bumping into someone in a store or at the local high school football game. But if you are serious about networking you'll get serious about the types of events you attend to meet the types of contacts that you want to establish most. You may want to connect with new home owners. By attending events that new home owners are likely to attend, a kitchen and bath exposition for example, you'll have a better likelihood of meeting the contacts you're intending to meet.
“Process” your contacts
If you have contact management software, enter every contact's information into it and make sure you include notes about what is important to each contact, what you shared with them, and how to contact them next. If you don't have contact management software (e.g., ACT! and for more information on ACT! and other technologies, see the February 2006 issue of BBI), create a system for yourself to manage your contacts. This could be as simple as a folder in a desk drawer where you store all your business cards, and staple your specific notes to the card.
Regularly connect with your contacts
Unfortunately, until you establish an ongoing relationship, people will have a tendency to forget about you. You need to follow-up regularly with your network of contacts to remind them who you are and how you can help them. A good rule of thumb is to contact the people in your network in some way at least once every few months, ideally it would be at least once a month. Grabbing lunch, having a quick phone conversation, or sending a brief note about something you have previously discussed are all great ways to reconnect with your contacts regularly. Some remodelers send out periodic announcements about awards they've won, recent projects accomplished, or a summary of what designs are popular today.
TRUE OR FALSE:
Networking is as much about getting advice as it is about financial gain.
True. One of the biggest benefits of networking is the support, advice and input that you get from your peers while you converse with them. In every conversation you should be open to what you can learn from your peers - how their experiences can help you sort out a challenge you are facing, give you an idea on how to pursue an opportunity or spark an idea. Bearing this important point in mind while you engage in networking opportunities is a twofold benefit: your conversations are more natural and lend to building trust and a stronger relationship, and you get the benefits of the advice, input and support of your peers.
Start Networking for Success!
So, accept the upcoming holiday invitations and opportunities to meet other people, and bear in mind these key networking tips:
- Don't sell yourself - be a great listener and the opportunities will present themselves.
- Be intent on the networking events you attend.
- Plan on managing your contacts - organize them and follow-up with them regularly.
- Give more than you get - try to give every contact you establish at least one introduction to someone else you know.
- When the time is right, clearly communicate how others can help you.
Additional Resources
Check out this resource on effective networking:
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By 2020, the number of households in the United States will grow from 107 million in 2000 to 135 million, an increase of 26%. The share of households headed by minorities will grow from 25.5% to 34.7% of the total by the end of the period.
Source: Harvard University Joint Center for Housing Studies,
Remodeling Futures Program, Research Update, Summer 2006
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