I got an email last week from an entrepreneur that said: “Itzik, our business got slow. I need to start networking. Will you help me to know how to get new clients?”
A common misconception about building your network is to do it while you are looking for a new job, a change in your career or when you need more clients.
People think that when they cannot find a job or when they need more and new clients this is the right timing for networking.
Lately, there has been a spike in the number of articles that have been written on networking to find a job. While this is not a new concept, the overarching view of networking does bear some fundamental mistakes.
According to a recent study conducted by Lou Adler:
55% of all jobs are filled through the hidden job market, a combination of internal promotions and networking.
Even more depressingly, research from Dr. John Sullivan a professor of Management at San Francisco State found that:
the most competitive companies, such as Google, hire less than 1% of their online job applicants.
I meet many entrepreneurs that understand the significant of networking, but when I ask them why they do not focus on building relationships on a regular basis?
They answer – “We are too busy and there’s not much time for relationship building”. Really?
I assume that if you have been reading my blog and following me for a while, you know that I dearly believe that one of the most valuable assets in business is having a strong network.
No matter your role, company or industry; the bigger your network, the more success you’ll have.
But the question is when is the right timing to build your network?
Forget Desperate Networking
It’s time you forget the images we all have in our heads about people collecting business cards in a business networking event as a desperate act.
Out-of-work individuals hanging on every conversation that have with other people at business conventions and job-hunting events, hopefully, to get the next job proposal.
The great myth of networking is that you start reaching out to others only when you need something — like a job. In reality, people who have the largest circle of contacts, mentors and friends know that you must reach out to others long before you need anything at all.
If you don’t want to experience the feeling of being lonely, desperate for new clients or unemployed looking for a new job, the best advice I can offer is: choose the right timing to build relationships.
Think of the relationships you’ll need tomorrow, and start building them today, when you are busy!
You need to start exploring what you can do to build better relationships when you still have a job, when you still have enough clients.
You need right now to open up more time on your calendar to attend events, even if you are busy. During your busy time schedule start to build and strengthen relationships with existing clients and potential clients. During work hours start to build and strengthen relationships with interesting companies (potential employers).
This is one of the most valuable investment you can do in your business or in your career, and it’s defiantly not a waste of time!
Network when you are busy
You are probably asking why?
If you have enough clients and currently do not need more clients why do you need to network? If you have a great job and you are not looking for a new job why should you go networking now?
Do you remember the last time you participated at a networking event and met a person who is out-of-work and was looking for a new job? Or did you meet an entrepreneur that is desperate to get new clients and new referrals?
How did they behave? What did they do?
Or I better ask – what did you do? Were you really interested in the conversation or did you try to escape from them as soon as you could?
I do not blame you. Most of the people that networking while they are out-of-work or really looking for new clients, are desperate. Their energies many times is different, sometimes negative and drowning. In extreme desperate situations it seems like they almost bagging.
Do not get me wrong. I certainly think that if you can and want to help these people, you should!
I only want you to understand this sad situation. They could avoid it in many cases if they were networking when they were busy. They could rip the magical benefits networking can give you if they built their network before they need it.
I definitely do not believe that networking should be an ‘energy sucking’ event.
To avoid desperate ‘bagging’, I suggest that if you are out-of-work or if you are an entrepreneur that looking for new clients, try to identify what you have to offer. Use more personal way to network: through giving.
When job seekers or clients seekers stop treating networking as “investing time & money in the relationship bank to withdraw someday” and focus more on what they can do for their network, the result will be much more effective.
When you network when you are busy, the chance is that you have very limited time. You come across very confident and comfortable. You are not desperate for new clients but welcome new relationships [and you do not say “I am busy” to frighten existing client from referring new clients to you – read more in my blog].
Thus, you certainly will attract new relationships and new opportunities to you.
You will definitely establish credibility and trust, create opportunities to turn chance encounters into long-term one-on-one relationships, put yourself on equal footing with potential employers or referrers, and transform yourself from a networking leech to a networking rock star.
Too Busy to Network? Make Time
So assuming you agree that you need to take the time to network and build relationships especially when you are busy, but with such limited time, how can you manage to do it -and still get work done?
It is possible, and it boils down to developing some smarter habits. A few simple changes in your day-to-day habits can help you keep your current network close and create time for new connections too.
To find out how, the Young Entrepreneur Council (YEC), published an interesting article with the tips of 15 busy entrepreneurs.
Here are 3 shortcuts to help you maximize your networking with minimal time disruption:
1. Use online tools to arrange your schedule
Nowadays, you do not need spending several emails just setting a date with someone.
To save valuable time, use online appointment systems like TimeTrade or GenBook (or any similar ones) to schedule catch-up phone calls, lunches or coffee dates with minimal back and forth.
For example, I personally block off several hours each week for serendipity networking. Then, when I meet someone at a conference or when someone is referred to me, I don’t need to think about when I can pick up that conversation. I point them to my special link, they see my availability, and they sign up directly.
2. Cancel memberships that no longer serve you
Be honest with yourself. If you look at the networking events you attended and especially the committees or projects you volunteered for, what did you gain from these and was it worth the time and energy?
Could you be valuable to other people and build better relationships by doing other things?
You should definitely examine after a certain period of time (probably after few months in most cases) whether a specific networking club that you are a member of or an association are the right choice.
Stop renewing it on autopilot or hope that things will improve. Place strict limits on your involvement based on hard metrics: Did you meet enough people who are relevant to your goals? Does this membership support you to show other members the value you can create for them?
Find other ways to meet other people and build genuine relationships. If you run of ideas contact me I will help you and direct you to find new ways.
3. Arrange a meeting with multiple people at the same time
Try to arrange a getting together as a group with few people, rather than 1:1. Thus, you will save yourself significant time and you will see many more people.
You can achieve it by inviting few people (who do not necessarily know each other) to have lunch or dinner with you. You can also invite several people out of your network to join you to an event.
Just pick one idea to start and then mix and match based on what works for your schedule and comfort level.
In my experience, I found that one of the most effective ways to network is to introduce people to each other. You keep in touch with each of the people, and they all remember you positively as someone who knows people and shares connections.
Last word.
Networking requires time and commitment, but that doesn’t mean we shouldn’t try to make it easy and fun.
But remember: You need to go networking when you are busy! Thus, you will build your network before you need it and the relationships you will build will be solid, genuine and long lasting.
QUESTION: So how can you start networking through giving also when you busy? Do you have a simple tip for a change in your day-to-day habits that help you keep your current network close and create time for new connections too? Share your tips below.
“Itzik is an International Speaker, Bestselling Author, Business Mentor & Attorney-at-law. The Global Leading Authority on Business Development, Business Networking, Referrals & Relationship Capital & Founder of THE SWITCH® and THE SWITCH HUB®”