Growing a BusinessBuild Relationships
Business networking
Making contacts and building relationships is critical for your personal motivation as well as the future growth of your business. You can expand your network for personal support by associating with your peers or attending educational seminars or courses. By networking with various groups and organisations you will interact with potential clients and suppliers. Begin the process by identifying the chambers of commerce, business associations, clubs and business networks you are interested in, and identify the contact person. You can find a list of industry and business associations on the Business Entry Point website.
Simply telephone them and ask if you can be added to their contact list for newsletters and invitations to events, seminars, exhibitions, conferences, special industry courses, social gatherings, dinner and lunchtime meetings and sundowners. As most organisations are looking for new members, your request to be a guest at their next event with a view to joining the organisation would probably be welcomed. If you lack confidence in interacting with strangers, seriously consider attending a communication course to develop some skills in the area.
You should understand the balance between receiving a benefit from participating in a group or organisation, and making a contribution to others in that group. Having an approach that aims at establishing and building a longer-term relationship is a better business strategy than the short-term benefit of an immediate sale. ‘What goes around, comes around’.
Some basic practices:
- Exchange business cards with other participants at every opportunity;
- Make it a practice to telephone at least one person a week with a business in a related field and invite them to meet you for coffee;
- Invite a new contact to join you at an event with another organisation, as your guest; and
- Contact the chairman or secretary of an organisation and ask if you can attend the next function as a guest and a potential member.
Marketing yourself
For many young business operators they have neither the time, opportunity nor finances to regularly interact with the public by attending business or industry events. In fact some communicate with their suppliers and customers only by telephone, email or through their website. This may not be a disadvantage in the early stages, but if the business is to grow it is important to become actively visible. This can mean marketing yourself and your business in the best possible light, to your bank manager, customers, clients, suppliers, competitors, peers and public. To be successful you need to be perceived as professional, credible and reliable. This message can be conveyed in a brochure or profile which you can produce yourself, or with some assistance from the Small Business Development Corporation (SBDC). Before embarking on the project you may consider it worthwhile to improve your marketing skills by attending some workshops, or you may consider exploring the possibility of engaging a marketing consultant to assist you in creating part, or all, of your professional package. Armed with this marketing tool you can confidently present yourself in any forum.
