Due to the importance of networking for consultants, we have devoted a lot of resources to this topic. This is part 1 of a 5 part series.
“When spider webs unite, they can tie up a lion”
Ethiopian Proverb quotes
Business networking is a fact of life for consultants. Succeed and you will have a strong and profitable pipeline. Fail and you will not have a business. It’s that simple. As a consultant, you cannot wait for the phone to ring you have to have a strategic approach to networking.
Think of networking as a spider web that is intricately linked. From the center (which is you) you have the opportunity to network with so many people because one friend, client or business acquaintance will have a different set of contacts than another. If you build a strong network or web, as the proverb says, it can hold a lion. This network is a true barrier to entry for new entrants and a competitive advantage.
Here are just some of the reasons you should network:
- To improve your work product by getting free advice from your network
- To improve you referral rate
- To improve the quality of referrals
- To develop a network of professionals that you can send business to if you are too busy and vice versa
- To get speaking engagements and/or professional visibility
- To gain positions that will increase your professional influence (board positions, non-profit positions, writing articles for publication, etc.)
- To gain connections to suppliers and potential clients
Here are some things you can do to get you on the path to building your network:
- First, figure out what you want to accomplish. You must have goals against which to measure any prospective group, individual or contact or you will miss critical aspects of your contact requirements or add people to your list that will be of no help in meeting your goals.
- Then, figure out what you have in your existing network, and how you can use these people and groups to help you. If you are only using their direct knowledge or advice, you are missing out on a lot of value.
- You need to reach beyond them to find out who they know and what those people that comprise your contact’s outer circle can do to extend your network and influence.
- Now ask yourself:
a. How can you get more visibility and how to create a ‘reputation’ in your industry or area of consulting expertiese
b. How to get more knowledge or training so your advice is more valuable
c. How to focus on the relevance of the people you have in your network and those you need to place in your network (come up with a couple of clear, polite questions you can ask that will quickly tell you whether you need to focus on this person)
d. How you can build your bonds and ties: what kind of follow-up should you do after you meet someone, what can you offer of value to affirm your interest in helping your contacts, and to build reciprocity?
e. How can you nicely and efficiently find out more about your contacts so that you have enough information to help you decide who to contact when you need help or how you might offer help to your contact
f. How can you quickly increase the number of people in your circle of influence?
g. How can you ensure that you have plenty of options and diversity in your network so that you have any and all assistance you need to meet your goals?
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