It has happened to all of us at some point: you are either going to or coming back from a networking event and your boss/partner/significant other asks:
“So what was the value of that event?”
Value? Of a networking event? Why, yes, of course, it has value. We, ah, they, ah…..OK, so what value does all of this connecting and talking have anyway? Is there a return on networking–or does there have to be?
Whether you are networking in a group, over coffee or via a social media site, you are spending time–and ultimately seeing a return. but what are the real values of networking?
- Realizing an ROI.
- Gaining–and giving–energy in the process.
- All connections and relationships come from some form of networking.
- Teaches you patience.
- Helps you understand the value of persistence.
- Teaches you how to farm as well as hunt.
- Gets you to show up.
There really is an ROI to networking. It isn’t something we always tout, but if you put pen to paper you realize:
- It takes about 250 contacts to realize a sale or closed transaction of some sort. If you go to 10 events in 10 days, with an average of 10 contacts per event, then you will have your 250 contacts–and at least one contract, sale or transaction.
- Networking results in 80% more closures than cold calling. It takes time, but the more you see people, the more they remember you.
Gaining energy is a key byproduct of networking. Getting out into a group of people energizes you and allows you to see things with a fresh outlook. The environment and other people give you power and a positive outlook. In turn, you energize others and share your energy and ideas.
Every contact/friend/acquaintance you already have in your life came from some form of networking. Church, school, other friends, work–you’ve spent time around these people, you’ve gotten to know them and now you want to spend more time with them.
“Patience is a virtue,” your mother always said. How true. Think back on those people you currently hang around with or do business with. How long did it take you to get to know them? I have a group of friends who I fish with in Minnesota each year. I have for the last 18 years. But it took them 5 years to get to know me before I went on the first trip with them.
Persistence takes energy and time. Don’t give up without a fight someone once told you. Well, not a fight, but a determination to not give up. It takes a lot to get solid networkers off the trail of a contact they need or want. It also is the value of patiently showing up at an event for 12 to 18 months to be sure that those in attendance see you every week or mont.
Hunting is overrated. Farming is downplayed. While it is a great thing to go out and kill it, you still have to drag it back to the cave and dress it and prepare it. Remember that old sales adage about it takes less energy and money to keep and grow a client than it does to go out and find and groom a new one.
“Ninety percent of success is just showing up,” Steve Taylor used to tell us at the North Dallas Chamber. I think the quote comes from Woody Allen, but whoever, it really is true. Like the bumper sticker says’ “The world is run by those people who show up.” If you aren’t at the game how can you expect to play? Being at an event or in a room puts you where the action is. Being around other people gets you closer to making decisions.
So, go out and conquer something! Be real and be connected. And know tht all of your networking efforts have value.
Relentless
