How are you building & developing your network?

Written by: David Terry, Executive Director of the WTAMU Enterprise Center

The average person knows about 250 people. So, if everyone in your network also knows 250 people, you can do the math… You have access to 62,500 people within two degrees of your circle of influence. That’s not to mention all the people that you’re soon to meet. Interesting, huh? Maybe you’ve never quantified the number of people you know or the number of people you’ll meet. But, you can be sure that networking is your lifeline as an entrepreneur.

So, how are you building and developing your network? Here are some simple things as you approach networking that will help you build your business beyond anything you can imagine.
Seek opportunities to meet new people and work on your networking skills. The more opportunities you have, the more people you meet, the better you’ll get at networking.
News flash – it’s not all about you. Networking is a dialogue, not a monologue. You’re not trying to just create a contact, your goal is to build a long-term relationship. In fact, in networking events, try to gather more business cards from other people than you give out. That’s a switch in thinking, eh? Yep, even in networking, it is better to give than to receive. When you meet someone new, engage in what’s important to them. Foster an attitude of learning. Listen and ask a lot of questions – who, what, when, where, why, and how. The answers (opportunities for your business) are often found in the questions that you ask. While listening and learning, cultivate an attitude toward helping. Often, in conversation, you’ll know someone or something that could help that person solve a problem or meet a need. As you peel back the layers and get to know the person, find opportunities that will help them succeed. By rule, if we help others to be successful, then we will be successful. It works!

Have you ever received a bunch of business cards at an event and then forgot who the person was, what they did, and why it was important to keep their card? I have a drawer full of cards to prove it! Follow up is the key to building any successful relationship. At some point in every conversation, you’ll exchange information. Take time to write that helpful tip or memory jogger on the card as you meet someone and then follow up in a few days. Then, commit to follow up regularly. Once again, each conversation should take on the same characteristics – seek to engage, learn, help, and follow-up.

People still do business with whom they know and trust. Your business will be built on relationships and sustained by the power of your growing network. Until next month… happy networking!