5 Steps To Make Your Networking Work For You

It's sad, but true. Most networking is a waste of time! This isn't because networking doesn't work, it's because most people don't know how to make networking work for them. The art of networking-and it is more art than science- is overwhelming misunderstood by most people. Thankfully, when you network efficiently and effectively, it can be fun, lucrative, and an excellent use of your time.

All too often, business professionals are let down by the results they earn from attending business mixers and networking events. Although you may come home with a wallet full of new business cards, that doesn't mean that your networking efforts were a success. Why not? After all, don't most business books teach you to meet as many new contacts as you can? Shouldn't your M.O be to schmooze up everyone within arm's reach? Isn't that the point of attending mixers? So, if you've done all of these things, why haven't your networking efforts led to new business?

Quite simply, you're not networking. You're net-meeting. Or net-introducing. But schmoozing and exchanging business cards isn't real work. Networking, as its name aptly applies, will require that you work at it. However, that's not to say that the work involved won't be fun; on the contrary it can and should be. Likewise, networking is a great way to increase your business, and should prove to do so, if you commit to taking it seriously.

But, like all successful business models, your networking efforts will require a succinct plan or strategy. After years of study, data analysis and research into the habits of highly successful networkers (and consequently successful business professionals), we have discovered a clear 5 step networking model that they use. When used properly, this five step system of networking will deliver sure-fire results, all while you're enjoying the process. Best of all, networking can take place anywhere. In fact, some of the best networking that you can do, may occur well outside of networking functions.

1: Determine Your Target Market.

This sounds like a piece of cake, but determining a target market is actually the most difficult step in the process of becoming a savvy networker.

If you're in sales, your target market will be consumers, right? Well, wouldn't that be the target market for those involved in service industries as well? Likewise in the public sector? While consumers are part of nearly every professional's target market, the problem with defining your market so generally is that you won't be able to customize your efforts. That is, you won't be able to tailor your efforts in the subsequent steps.

Many professionals shy away from becoming too specific in their target markets for fear they'll lose business, by pigeonholing themselves. This isn't the case, because there is no limit to how many target markets you may choose to select. The point is to narrow down the types of people (by profession, by region, by services needed, etc) that you will focus on networking with. That way, you can customize your elevator speech or pitch to appeal to their specific needs or wants in a networking partner.

2. Immerse Yourself in Pools of Prospects

Once you've determined a target market or two, you need to determine a way to put yourself in the presence of prospects. For example, if you're in the pet grooming business, your target market is undoubtedly pet owners in the vicinity of your business. A natural pool of prospects would likely be a dog park in your area. Or, you may visit pet adoption fairs. Taking it further, by volunteering your time at an animal shelter, you'll be sure to meet potential pet owners, or at the very least animal lovers. The method for finding pools of prospects can be arrived at by analyzing where people who share similar interests might get together.

3. Uncover Their Needs

Once you've found potential pools of prospects, and have started meeting with them regularly, you're in a position to begin to uncover their needs. Some of their needs will be obvious, but others needs may not be as easy to unearth. There is a very simple way to uncover both their obvious and not so obvious needs. The key is merely to spend more time listening to your prospects than you do talking to them.

Using the example from above, consider that you're at a dog park every Monday evening, immersing yourself in a pool of prospects. The same dog owners are there each week. By actively listening to the dog owners, you're likely to uncover needs they have regarding their pets. Keep your ears attuned for statements that begin with "I need to find," or "I'm not happy with my current," or "I've been looking for someone."

Statements such as these are almost unanimously followed by a need that your target market has, even if they don't realize they have it. But, by listening intently and making mental notes of what they say, you're in a great position to move to the next step.

Step 4: Form a Team To Help Your Prospects

Once you've uncovered the needs of your target market, you'll next need to form a team specifically designed to meet those needs. This step sounds easy enough, as you've done a great deal of the work already. But, forming an effective team designed to meet the unique needs of a specific target market may try your patience.

Consider that the most successful networkers don't only strive to provide their prospects with the services that they can offer to meet their needs; but they strive to help enhance the livelihood of their target markets' personal and professional lives as well. Or to put it another way; they seek opportunities to help others, anyway they can.

Again, using the example of the pet groomer, to be a successful networker, they would build a team of veterinarian, pet sitter, dog trainer, and the owner of a respectable kennel. That way, they can provide their target markets with referrals to providers who serve the needs that the target market must fill.

Forming a team will take effort, as you must only include like-minded team members who share the common goal of fulfilling all of the needs of the target market. The team must be mutually respectful of one another, and value each of the other team members' responsibilities.

Step 5: Manage The Team

Remember the adage that "There is no I in team," when structuring and managing the team you've built. Successful networkers are managers of their own teams and to that end spend time strategizing plans for reaching as many potential clients as possible within their target market. They refer their team members, they participate in marketing the services of all members, and they listen to the feedback provided by members. However, they do have to set some clear expectations, so that all members fulfill their individual responsibilities, ensuring that the team as a whole is successful.

By using these five steps to identify your target market, and then build a team to meet the needs of that market, your networking efforts will pay off and you'll increase your business. Instead of returning from a business mixer with a briefcase full of unqualified business leads, you'll now hone in the best suited markets for you to target, and you'll have a team of non-competing like-minded professionals working hand in hand with you to increase business for everyone involved.

Ed Craine is CEO of San Francisco based Smith Craine Finance, an award winning mortgage brokerage. He was appointed Vice President of CAMB in 2007. Ed serves as an Executive Director for BNI, and is a contributing author to several NY Times Best Selling Books. Visit http://www.smithcraine.com

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