BforB Midlands

The 10 Myths of Networking

Been to a networking event & come away sad at lack of biz you did?If this is true, you’re probably wondering what went wrong for you!

What You Will See

•Who am I

•Introduction

•The 10 Myths

•Final Thoughts

Who am I

•Referral Marketing Specialist

•Chartered Accountant

•Social Media Addict

•+ outside interests...

Introduction

•Ever been networking?

•Disappointed at the lack of business you did?

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Introduction

True?

•Wondering what went wrong for you?

4

Introduction

Answer

•Fallen for 1+ of the10 networking myths!

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Introduction

•Knowing the 10 myths helps you understand networking better

•Because Fact...

•Networking produces best business, best referrals, & best clients!

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Myth Victim Cost? Your Remedy

No 1 Yes / No / Guilty As Charged!

No 2 Yes / No / Guilty As Charged!

No 3 Yes / No / Guilty As Charged!

No 4 Yes / No / Guilty As Charged!

No 5 Yes / No / Guilty As Charged!

No 6 Yes / No / Guilty As Charged!

No 7 Yes / No / Guilty As Charged!

No 8 Yes / No / Guilty As Charged!

No 9 Yes / No / Guilty As Charged!

No 10 Yes / No / Guilty As Charged!

Myths Roadmap

MYTH # 01Everyone’s Out To

Sell!

8

MYTH # 01The Truth?

•Some attend networking events to ‘Sell’

•Don't do well at NETWORKING & give up!

•If you give up:

•Think of the deals you miss out on

•The customers you will never meet

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MYTH # 02No EffortRequired!

8

MYTH # 02The Truth?

•Not secret societies

•Networking is a tool – nothing more or less.

•Can't blame it for failure!

•What effort should you be putting into your networking activities?

9

MYTH # 03Get Business At First Meeting!

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MYTH # 03The Truth?

•SLIM!

•Building LT relationships not immediate sales.

•How long do you wait before you get clients?

•The Law Of Recency

•Know Like & Trust - TAKES TIME

•Accept this of networking from the start

10

MYTH # 04It’s Hard

Work!

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MYTH # 04The Truth?

•Nothing but a slog? Depends on you.

•Effort is involved – this is not a hobby!

•Take a long term view, relax, give it time to work.

MYTH # 05See The Same

People Networking!

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MYTH # 05The Truth?

•Its about who people can connect you too.

•You get a unique insight in to their habits.

•Flip-side - they get to see how you perform!

•Gives people confidence to refer you!

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MYTH # 06Won’t Work For My Business!

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MYTH # 06The Truth?

•Common misconception

•How can you turn contacts into contracts?

•You can see how 2 principles of indirect marketing are very real:

•A. Even if the other networkers are not potential customers, they will know people who are.

•B. Networking much more than just selling – developing business skills, finding good suppliers, and getting objective feedback on you & your projects 13

MYTH # 07

TooExpensive!

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MYTH # 07The Truth?

•Focus on the cost of acquiring customers.

•Understanding this helps you see how all marketing works.

•See networking in terms of acquiring customers over their lifetime value.

14

MYTH # 08Haven’t Got The

Time!

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MYTH # 08The Truth?

•Can you afford to say this?

•2 reasons why some people give this as a reason...

MYTH # 09All Events Are

The Same!

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MYTH # 09The Truth?

• Networking events divide into 4 types:

•Mixer Networking

•Regular Open Networking

•General Networking One offs

•Referral Networking / Marketing

MYTH # 10All Comes Down

To Luck!

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MYTH # 10The Truth?

•Luck doesn’t exist – only opportunities.

•Networking is all about creating and spotting those opportunities.

•Take control of your business by acting on the opportunities that networking presents in a: Planned, Focused & Systematic manner.

Some Homework ?s

Before You Leave Today

•Identify & write down to share 3 referral targets that will help grow your business

•Book three 121s with today’s delegates & see how you can help them grow their business

•Connect up with at least 7 new people on Linked-in you have MET today

Final Thoughts•If you Never go networking - you will:

•never know how much business you will lose

•never meet that loyal client who also brings you 2 referrals a year

•never know those people who could turn into good suppliers and give you timely advice just when you need it.

•Networking really is the best way to get high quality referrals - but only if you use the tools correctly.

•These myths are costing UK businesses lost revenue

and opportunities - Don’t be the next victim!

What Am I Looking For

Continue the conversation

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