Small Business Enterprise - SBDC July 2022

Networking is a critical part of your business strategy

Work to develop strong business relationships

One of the most cost-effective tools in your business strategy is networking. Many times we have start-up clients who do not have the funds for effective marketing/ advertising activities, and so we coach them in ways to reach out to local networks, peers and mentors to help them build awareness organically. These strategies help give them a much-needed boost until they build enough reserves to invest in other paid strategies.

I admit to not always using networking to full advantage, but love to spot natural partnerships and connections for others. The key is to connect and listen for opportunities, no matter where you are or what you’re doing. Networking strategies are mutually beneficial as they provide an exchange of information, ideas, referrals and career advancement opportunities.

Here are some in-person and digital techniques to help get you started.

Join a Networking Group

Networking groups help members from many industries and professions meet one another and exchange helpful information. These groups may have specific planned activities for each meeting, or they may allow members to dictate the content of the meetings. Networking groups often meet on a weekly, bi-weekly or monthly basis.

Joining these groups is an effective networking strategy because it allows you to meet other professionals in an environment that promotes establishing relationships with new people. Additionally, if these groups meet in person, they may help you establish networking connections with professionals within your local community. If you are looking for one, call the Chamber office.

Utilize Social Media

Many social media platforms provide professionals with tools that can help them network with members of their community and other professionals within their industry. LinkedIn remains a valuable resource for targeted connections in your industry, plus it’s a great way to keep up with other businesses and individuals in your region.

If you want to connect with someone you don’t know, it’s always best to ask for an introduction from a mutual friend or message them and mention common interests. Never spam or message with sales pitches immediately after you connect.

Grow a Database of Professional Contacts

A database of professional contacts is a list of names, emails, phone numbers and other personal information of people you have met in a professional setting. These may be members of your own organization, members of partner organizations, hiring managers that interviewed you, previous managers and coworkers or members of networking groups.

Join Industry Groups

This is a very targeted way to establish contacts, and it’s also a great way to develop partnerships and facilitate positive relationships with competitors. These contacts allow ways to increase your industry knowledge, skills and career development.

Attend Conventions and Conferences

Conferences are always beneficial in learning about up-and-coming trends in your industry. You also discover that you’re not alone in experiencing the various difficulties within your business or wanting to improve your skills and bring something back to your office or organization. Another bonus is having the opportunity to meet your business idols and learning how they approach business — certainly a great experience and one that you can only benefit from.

Send Emails

When establishing a new professional contact, sending an email with an introduction and the reason for the email can help facilitate the connection. When writing to individuals in your network, asking questions about their recent work activities and sharing your own can help maintain a positive relationship. When emailing multiple people at the same time, you may seek advice, take a poll or inquire about creating a meetup.

Offer Assistance

When establishing and maintaining networking connections, offering assistance is an effective way to develop stronger relationships. The type of assistance you provide may include giving professional advice, acting as a reference, facilitating a professional introduction, helping with a project or joining a board of advisors or directors.

Heather Kelley is a consultant with the Illinois Small Business Development Center. Visit rockfordsbdc.org.