Do you refer a business to connect...?

Business networking is an element of business promotion that has come to the forefront in recent years, allowing local businesses to connect with each other.

Within the West Midlands region, there are many, many networking clubs and meetings taking place on a daily, weekly and monthly basis, some are organised by specific networking businesses such as ‘BNI’, ‘Bobs Clubs’, ‘NRG’, these guys have for a number of years actively looked to building networking clubs throughout the whole region and far beyond.

Then there are those networking meetings that have been set up by groups of people who wish to put their own slant on a meeting. Such as the likes of ‘Synergy for Business’, and ‘Connect Birmingham’ which has subsequently transformed into Connect WM.

Finally, there are businesses that organise and utilise networking meetings in order to enhance their own business, their offering and people such as Talbots Solicitors and Else Solicitors.

There are of course business help organisations such as ‘Chamber of Commerce’ ‘Business Link’ which is now ceasing to operate in its current form due to governmental cuts as are local authority held business meetings such as ‘Find it in Sandwell’.

The whole purpose of such groups and meetings is exactly the same, to increase business awareness which ultimately ends up in referrals to local businesses.

However one has to keep in mind is “exactly how and do such meetings work for you?

This may seem a harsh statement to make, but attending meetings still has elements of being in the right place at the right time, do they like you, can they relate to you and most important of all, are you offering what is needed.

There are businesses who know exactly what they are doing with their networking, such as Paul Spicer from LNP Sound. Paul knows how much it has cost him over a period of any given time attending a networking group, and how much revenue he has obtained via referrals as a direct result of attending the meetings. At the end of his membership to any networking group, he refers to his figures, it is positive in terms of directly referred sales he will renew if it's negative he will not renew and look for an alternative business networking group to join.

Unfortunately, there are other people who attend meetings, in the hope of getting something such as a referral or a sale..... Alias to no avail. These people may be confusing to others as to what they do, be very airy fairly in what they do....however our belief is that this should be identified and these people should be helped especially if they are paying members of network meetings.......as surely this is the ethos of business networking.

More often than not because these people live in hope more often than not it is they who are good at referring because they attend so many meetings and get to know so many local people and businesses...unfortunately as already mentioned they do not receive much or anything in return.

Without appearing negative because that is not the case when referring business to other local businesses it should be done due to experience and knowledge of the company, the people and the products and services. In the early years of networking referrals would be passed on the first meeting, which caused untold problems and negative feedback to the company who gave the referral.

Also, referrals past would not necessarily be a true referral; it would not be qualified and only done as visual evidence to those in attendance of the whole business networking scene working.

Networking does work, but it has to be done right, below are a few things to bear in mind:-

• Set out your goals.
• Be specific with what you’re after.
• Don’t get sidetracked by promoting a networking group over your business.
• Don’t let a networking meeting turn into a social event.
• Treat the meeting as a business meeting.
• Plan what you’re going to say at the meeting.
• Be hard; ensure the group give you something in return, help and/or referrals.
• Don’t fall into the one to one trap by having 5 of them in a week.
• When having a one to one, if it’s all about them then stop the meeting.
• Give feedback on referrals good and bad.
• If you’re getting referrals that are no good tell them, but you may also need to look at how and what you’re asking for.
• When it’s time to leave a networking group then leave the group, don’t just hang on.