Networking – What is it really all about?

Networking – What is it really all about?

Is networking meeting up once a month for an enjoyable round of coffee (and cake) and telling those present about what you do?

While this is enjoyable and its nice to know about other businesses and what they do and a great way to meet people, if you’re really serious about your business, is it really going to be of benefit? can you clearly state tangible outcomes for your business?

Is networking about going along to ‘networking’ clubs or meet ups where you pay to meet people, exchange business cards and find out about what other people are doing?

Another enjoyable past time. It can be a great way to begin real networking because in finding out what people actually do, you can work out how they can work, help or buy from you and how you can reciprocate that back. this may not be the same either way. However, are you really going to be able to do that at that particular busy event? In my experience – not. What’s needed is further communication between both parties by phone, email and a meet up! It takes time to properly understand what others do and who they are!

Is networking about paying to join a networking club?

Investing in your business is essential for success anyone who doesn’t invest is nuts! However, look at what’s being offered. Yes, meeting high powered business people is great but ask yourself how are they going to do business with you and be realistic! If they’re not, can you learn from them? What do you need or want to learn from them? What is the networking club offering? Meet ups, opportunities to meet people? While both of these are great, we’ve already seen that networking is so much more!

Is networking being given the opportunity to meet business experts?

Meeting experts, hearing their story and understanding what they’ve done to get where they are is positive. However, are they going to give you practical and tangible tips and advice that can really help you in your business? If not then going to an event where they’re speaking is of no more use to you and your business but is just as pleasurable as seeing your favourite band or show!

Is networking exhibiting at a business event or show?

It could be the start of networking. However, like many of the above you’re not going to have a meaningful conversation at the event. This is merely an opportunity for an introduction! What you do after will determine what happens next! The host of the show should be able to give tangible examples of how exhibiting at their event has helped other businesses. Some organisers will say “all our exhibitors said that the event really helped them” or “all the exhibitors and visitors rated the event 9/10”. My own response is “that’s nice”. I want to know how exhibiting actually improved them or their business! A response like “3 businesses gained 4 more customers/business referrals” is tangible. This might persuade me to exhibit.

What is a network?

1. Connect as or operate with a network
2. Interact with others to exchange information and develop professional or social contacts

I have been to many business events. I’ve made lots of professional contacts. Through these I’ve worked with professionals, referred others to them (increasing their business), bought products and services from them (increasing their business), invited them to business meet ups that I know will help them in aspects of their business (which could potentially increase their business).

In turn they’ve done the same! For me that’s true networking! Ongoing communication and working with people in this way, is the one thing that will build lasting relationships and trust. Remember, communication is much more than just talking to one another!

Don’t underestimate the importance of the social element of networking but keep a balance and don’t make it the main or only part!

If you do join a business networking club, look carefully at what’s being offered! It has to be value for money, you have to understand and clarify and quantify exactly what’s on offer to you and your business! Look at your planned KPI’s (Key Performance Indicator’s) in your Business Plan for the year ahead. Being a member has to be more than, meet ups, listening to speakers and business experts. What’s on offer has to be tangible and measurable to you and your business otherwise why bother? Ask yourself, what will be different in my business a year after joining this business club? If its I’ll have had great nights out and met lots of people, is that important to you?

Networking clubs are all different and costs vary. Look and shop around to find one that’s really going to help you. Those organising networking clubs should teach you about best practices in business. The do’s and don’t’s in business. They will have the best overview of their members and they will know who to link together and more importantly the why they should!

Networking clubs should actively encourage their members to do business together, they should make the introductions and could even organise member meet ups. Networking clubs should find out at the beginning what you need and understand why you need it. They should make that your KPI (Key Performance Indicator) their business KPI for the year ahead! If you need grants or loans they should not only tell you but should be able to directly or indirectly help you to apply.

I’ve often wondered why we pay membership to business clubs and then pay a meeting cost in addition? With other clubs you pay an annual fee and group meets are free to members! Special events might include a reduced cost for members. A well planned business of any kind knows what its annual costs are likely to be and should be able to forecast the annual income needed and understand how many customers/members they need and how much to charge them to cover it all.

Networking – What is it really all about? It’s about considering a lot of factors and its about being serious in your business!

When passion alone just isn’t enough!

When passion alone just isn’t enough!

Whether it be a business idea, a charity idea or a great community initiative or project, it all starts with your passion. If you don’t have a passion for what you do or want to do then there is no point. Is passion alone enough?

I recently saw a sign which said “When you have passion, success will follow”. Is this true?

Recently I’ve seen people embarking on things they are passionate about. They ooze enthusiasm, they want their work to be successful. They hold on tight to what they do and try and find others that share their idea or passion. However, for some this is a fruitless task because instead of finding the right people for the task, they find people who want to support them.

We all need people to support what we’re trying to achieve but we also need people who can do the job. For example we might want to set up an organisation/business to help ex fishermen but you wouldn’t only involve ex fishermen because they might not all have the right skills.

Those starting a new venture or widening an initiative might seek advice. On the surface they’ll say, “I want advice” but when its given the response is “I have no time to change things” or “We’ve always done it this way”.

What they fail to realise is that no one person can know it all. I’ve learnt this over the years. What they need is to take advice from those who have expertise. If they want success then they’ll make time! If they want success they’ll think about change and act on it!

You ask about an action or business plan! – Then you find out that there isn’t one! They believe that they can run something successful without one? Really? They also believe that they will get funding, donations and build working relationships without one? Really? The reality is they aren’t! No one is going to give money to someone with passion but no plan. I’ve even heard someone say “I can get someone to write a business plan overnight”. Seriously? Anyone with experience will see it and not support it!

Everything good in life starts with passion but without taking the appropriate advice from those who know, without the right team behind you and in the absence of a well thought out plan in advance, passion alone just isn’t enough!

The myth about fundraising!

The myth about fundraising!

Charities and good causes rely on fundraising, especially today when grants that were available are no longer there and what is available is being sought after by a much bigger audience!

So what’s this myth? What’s it all about?

You’ve decided to fund-raise for a cause you care about. The obvious choice is a raffle! Most people will go out and collect prizes ranging from big items to smaller items. They’ll advertise the prizes they have, sell tickets on the day or if they have a licence sell them over a longer period. People will win and the money raised will be counted. The announcement will be money raised for charity. All this is great, so what’s the myth?

Whenever you fund-raise especially with raffles, auctions, etc you should always consider the value of the donations you have. We think that because something has been given at no cost that it has no value. Why? Have we become an easy come easy go society? Of course we thank the person/business/organisation donating because that’s the right thing to do. However, if we place no value on their donation, then we’re not valuing their contribution!

So if someone gives you a voucher for a meal for two worth £25 the value is £25. If you get a holiday worth £400 the value is £400 and so on.

An example, Mrs Smith and her friends want to raise money for a local children’s charity and as part of their efforts they hold a raffle. The prizes donated add up to a value of £1500. After their event they find the raffle has raised £500. Has it raised £500 or has it lost £1000? An accountant would tell you the latter is true! Of course the good cause has an extra £500 it wouldn’t have had without their efforts but how much more could be done if Mrs Smith and her friends had broken even with their fundraising, i.e. raised £1500? If they had placed a value on their donations they could have!

The myth about fundraising is a lack of understanding and a lack of placing a value on the donations given.