Thoughtful Thursdays - On promotion before sales

The majority of the people I work with agree that referrals and word of mouth will play a very important role in the development of their business. If they are fortunate to have an established network, it is likely the business will achieve sales faster and once you have the mouths, the word of mouth will start happening.

It is a taller order to build a network from scratch, but is it really from scratch is the question I will ask. Here are a few tips to get you started on building or growing your network. It may be easier than you think.

1. Make a list of everyone you know - I mean everyone
2. Get in touch with each one to say hello and let them know that you are in business
3. Tell them how your business helps your target market - not what you do, but how you help
4. Ask them if they know anyone that may be interested in the benefits you are offering
5. Ask them if they would mind introducing you to these prospects - don't push it, ask politely for their help

You will get contact information and at this point it will be up to you to follow up. Each new prospect can be a source of another. Remember to ask everyone you talk to if they might know someone who might be interested. Prospects often come from the most unlikely sources.

You are not selling your products or services at this point so don't even try. You are beginning to build your network. Trust has to be established and the simplest way to loose trust is to sell prematurely. If you are selling anything it is yourself.

At the same time, research networking groups and start attending events. It is not a contest to see how many business cards you can collect. Your challenge is to develop mutually beneficial relationships with new people. This takes time, so be patient. Being patient does not mean taking days off, there are endless opportunities to network. Be discerning and consistent with your decisions. Follow your business plan focus on your target market.

Once your promotional activities begin to generate prospects then you can start thinking about your sales process,

Good selling,
Richard

Thoughtful Thursdays - Networking or not working?

I read an article in today's Toronto Metro (the daily magazine for commuters) titled "New approach to networking". It focuses on networking for employment opportunities, but obviously applies to marketing activities as well.. After all the only difference between a job search and looking for new customers is the product that is being offered.

The article reports on the book The Power of Who, by Bob Beaudine.

I am not sure the "new" approach is really new, but the theory is sound. Spending more time networking with the people you know will likely pay off faster than attending events where you do not know anybody. Don't stop expanding your network, but work on the people you know first.

Start by making a list of everyone you know, and that means everyone, then pare the list down to your friends.

Friends like, and are willing to help their friends out. It seems simple, but I can't tell you how many times I have to remind my clients to work their own network before going out to find another.

If networking is important to your business, you may find the article interesting. I have to say that in the first year of operating my own business, 100% of the customers came as a result of tapping into my existing network. That network grew again through contacts made from the new customers. I rarely attend "networking" events these days with any expectations beyond hearing a speaker present on a topic that interests me..

My suggestion: Grow from who you know.

Good selling,
Richard

Expanding your professional network to help your business grow

Click here to view the latest TD Canada Trust webinar: Expanding your professional network to help your business grow. The featured guest is Sheryll Reid, Business Advisor at Toronto Business Development Centre.