Networking Effectively Part 1

We're approaching the time of year that is riddled with holiday parties, year end events, and any number of chances to mix and mingle with contacts, current and new. So we're taking this time to kick off some tips for effective networking. We hope you learn and grow from them!

What are the advantages of networking ? What's in it for you ?

Networking has a lot of advantages over traditional advertising and marketing. These are the most important advantages:

More business: As you develop networking skills and contacts, you'll find that the amount of work you get from referrals accounts for the largest part of your new business. And the most profitable.  When properly handled, networks of contacts have a real tendency to grow. This will mean a constantly growing stream of new customers.

Better business: The business you get from referrals will usually be from happy customers. This will mean that your best customers, those who pay on time and without headaches, will be the ones who send you the additional business. Or those business contacts who value their association with you and respect your integrity and quality of work. Either way, good quality referrals.

Cost savings: As you get more business through referrals, you'll find less and less need to advertise and market your business. This means less of the associated costs. And since you'll be getting better quality business, it means less bad debts.

Time savings: Less need for cold calling and selling of work. Most of the referrals you'll get are for people who are already prepared to pay for your service and simply want to find some one they can trust to do the job properly. You'll be able to spend your time working at paying projects, rather than chasing questionable prospects.

Picking up the pace: Business slow ? Just starting ? There is no better way to get things going faster than through a solid referral. Or better yet, through a network of them.

Broader range of opportunities: Networking gives you exposure to more people and, as you develop relationships with those people, often leads to early information on new business opportunities. It also opens the option of initiating new ideas where you introduce contacts to make for a whole new business.