How to Make Networking Work for You
How to Make Networking Work for You
When you start networking, you’ll waste some time. More time than you want to waste. You’ll meet with the wrong people. Or you’ll have a 7 a.m. breakfast meeting with a great CEO connection, but then they cancel at the last minute. You might end up losing valuable time, energy, and gas mileage. But it doesn’t need to be this way.
Moving forward, we’ll cover exactly how to spot the right people, find the right events, and hopefully save some miles.
How to build a referral network
Savvy (and time-sensitive) networking starts with your ideal client profile. Who else serves your ideal clients? With the rapid-pace changes in the world of business, we’ve started working with larger companies. The first place we started was our ideal client profile. We took this opportunity to revise the psychographics, or how our clients think. Now, we focus on senior leadership at companies between $10M and $250M.
Next, we evaluated our networking partners based on two questions: do they work with these larger companies? And do they talk to the right people at those companies? Over the next three months, I met with my network. I asked them for more details about their ideal clients and who the best contact was at these companies.
This helped me make great introductions when possible. But it also helped me spot a mismatch with our new target. To verify this, I looked at their contacts on LinkedIn. How many of their contacts were senior leadership at companies between $20M and $250M? If there weren’t many, it was time to move on. I’d still meet with them as needed and certainly help if I could, but I focused on growing my network with people who were having the right conversations with the right people.
To do this, we start by building an ideal referral partner profile. This allows you to spot the best partners in the wild. But you also start with your current network. At the end of a meet-up over coffee, you ask, “Who do you know that: <insert characteristics of your ideal referral partner>?” For us, that became “Do you know consultants or coaches who work with leadership teams at companies between $10M and $250M?” If you have good relationships, you’ll be stunned at how quickly you can meet the right people.
How to organize and approach a networking coffee
It can feel intimidating to take the reins and organize your first networking coffee on your own behest. Here are some simple tips I’ve utilized to get the most out of this highly effective networking event:
Moving forward, we’ll cover exactly how to spot the right people, find the right events, and hopefully save some miles.
How to build a referral network
Savvy (and time-sensitive) networking starts with your ideal client profile. Who else serves your ideal clients? With the rapid-pace changes in the world of business, we’ve started working with larger companies. The first place we started was our ideal client profile. We took this opportunity to revise the psychographics, or how our clients think. Now, we focus on senior leadership at companies between $10M and $250M.
Next, we evaluated our networking partners based on two questions: do they work with these larger companies? And do they talk to the right people at those companies? Over the next three months, I met with my network. I asked them for more details about their ideal clients and who the best contact was at these companies.
This helped me make great introductions when possible. But it also helped me spot a mismatch with our new target. To verify this, I looked at their contacts on LinkedIn. How many of their contacts were senior leadership at companies between $20M and $250M? If there weren’t many, it was time to move on. I’d still meet with them as needed and certainly help if I could, but I focused on growing my network with people who were having the right conversations with the right people.
To do this, we start by building an ideal referral partner profile. This allows you to spot the best partners in the wild. But you also start with your current network. At the end of a meet-up over coffee, you ask, “Who do you know that: <insert characteristics of your ideal referral partner>?” For us, that became “Do you know consultants or coaches who work with leadership teams at companies between $10M and $250M?” If you have good relationships, you’ll be stunned at how quickly you can meet the right people.
How to organize and approach a networking coffee
It can feel intimidating to take the reins and organize your first networking coffee on your own behest. Here are some simple tips I’ve utilized to get the most out of this highly effective networking event:
- Approach events with a grateful mindset: Remember, this person is taking time out of their busy day to help you. Be cognizant of their availability and don’t treat this as just another sales meeting! Show genuine interest, beyond obtaining a referral.
- Keep it short and sweet: When organizing a networking coffee, request a meeting of 20–30 minutes max. This person is doing you a favor, so you should always offer to cover their coffee/meal. If meeting in person, be sure to choose a location near them.
- Come prepared: There is nothing worse than coming unprepared to a coffee chat that you initiated. Be sure to do your research, know the person’s work and responsibilities, and have a list of thoughtfully composed questions ready.
- Be specific about what you want: Inevitably, the person will probably ask, “How can I help you?” It is imperative that you have a solid response. You can say something like “I’m actively looking for C-suite clients who work in the tech industry at companies bringing in $50–100 million in revenue.”
- Leverage this opportunity to grow your network: At some point during the conversation, always ask them if there is anyone else you should be speaking to at their company, within their circle, etc.
- End with generosity: Networking is a reciprocal process, and you should always conclude your chat by asking them if there’s anything you can do to help them.
- Show follow-through: Manners matter! Shortly after your meeting, send a thank-you email and reiterate your appreciation for their time and advice. If the meeting went well you can ask them to formally connect you with the people they mentioned.
Article #7 Reflections & Activities:
Let’s look back to move forward. I want you to reflect on a prior networking coffee:
- What was your mindset?
- Did you come prepared?
- Did you have a specific “ask” in mind?
As you recall this event, jot down your thoughts and note how you could improve on this exchange in the future.