If you’re a new entrepreneur, chances are you’re hearing new phrases and acronyms on an almost daily basis. All you wanted was to launch your dream, not learn a new language. This is part of a crash-course on terms and ideas every new entrepreneur needs to know (and mostly understand).
Networking is the lifeblood of business. As a new entrepreneur, it’s more than likely you’ve already done some networking with other professionals. There’s a significant difference between simply networking and networking well. Too many new business owners are understandably staring down next month’s rent payment and payroll and letting the tyranny of today influence how they network.
Networking requires you to think like a farmer, not a hunter. Hunters expect to make a killing quick and easy, minimal effort required, and take what they can get. Farmers know a great crop takes time to develop. You need to work the land, plant seeds, look for problem areas, get help where you can, and work, work, work for your harvest.
After several months of research, I recently joined Business Networking International (BNI). I’m part of a chapter that meets once a week to exchange details, update our peers on the previous week of business, and educate each other on what type of introductions, referrals, resources, or situations are on our radars.
I don’t expect to make a lot of business through referrals in my BNI chapter during this first year. That’s why I subscribed for a two year membership. This first year is all about tilling the soil, nurturing relationships with my new chapter members, helping where I can, and providing value in referring their services.
None of that should change next year except I expect my farming to pay dividends. If I’m adding value, the mantra of BNI (“Givers gain”) will be true: referrals and recommendations will come my way.
There are some solid next steps to help launch your networking efforts as an entrepreneur.
- Join a professional referral/lead generation community, like BNI.
- Search for local networking events, like Happy Hours, Network After Work, Chambers of Commerce, Breakfast Clubs, and luncheons. If things are tight financially, many networks occasionally have free or low-cost ($5) events.
- Know these 7 things about what to do (and not do) at networking events.
- Follow-up with the people you meet.
- Always keep your networking “radar” on alert. I’ve met people on airplanes, ballgames, picnics, all over the place who are now part of my network.
- Give, give, give to your network. Even if it’s a long-shot possibility, it’s worth introducing people to see how they can build better business together.