Networking is fancy name for 'word of mouth'

The dictionary defines a network as "a fabric or structure of cords or wire that cross at regular intervals; an interconnected or interrelated chain, group or system." In a business context a network can be viewed as the business needs or customer desires being communicated (the wires or cords that cross at regular intervals) to all affected businesses (interconnected group) so that action can be taken. Networking means being 'wired into' a human network of contacts and information that is relevant to the organization. A good network can place the entrepreneur in a better position to utilize the marketplace.

Networking groups and organizations can be found in most cities. These include chambers of commerce, rotary or civic groups, universities or private organizations. Networking is often advertising in its most natural form -- word of mouth. The key to success is to network effectively. The goal of attending a networking meeting is to introduce yourself to as many people as possible -- and explain your business needs and services. It is easy to fall into the habit of talking to the same people at regular meetings. It is more comfortable. But that's not enough. So take the initiative and introduce yourself to someone new. Let networking become an integral part of marketing efforts.

Once a contact is made, follow up. Don't let your efforts go to waste. If interest is displayed, set a time for a more in-depth presentation. Be prepared. Find out as much about the potential customer as you can. Sell the benefits, not the features, of your product or service. The customer wants to know how the product or service will benefit him, save him money, or increase productivity. Be politely persistent. Call periodically to ask if there is anything your business can offer the customer.

People have relied on who they know for information or referrals since the beginning of time. The more people are aware of your business the more likely they will refer someone to your organization. Results are not always immediate but the time invested will be worthwhile in the long run.

It can't be stressed enough how important it is to develop and hone follow-up skills. There is no process of networking, no sharing of information, no referral that succeeds without follow-up.

Savvy networkers acknowledge "gifts," such as leads, ideas, advice and time given. They treat people with respect, courtesy and truthfulness. People will do business with people they know, like and trust. Be as easy to work with as possible. Stay in touch with contacts, even when you need nothing from them. Become a person that others want to meet, talk to, collaborate with, and share professional time with.

Networking is a soft sell. It's about building relationships that will help not only business but also personal endeavors. Rather then view networking as a waste of time, look at it as an investment that will have a long-term payoff.

There is a myth that people should know what you need and offer to help. Most people are happy to help when asked -- even to try a new product. Yet, they can't discern your needs if you don't share them. If you don't ask, the answer is always no.