The 10 Myths Of Networking

The 10 Myths of Networking

www.conspicuous-cbm.com

Been to a networking event & come away sad at the lack of

business you did?If true, you’re probably wondering

what went wrong for you!


What You Will See


•Introduction

•The 10 Myths

•Final Thoughts

Introduction


• Ever been networking?Disappointed at the lack of business you did?

• If True - Wondering what went wrong for you?

• Answer is that you have probably fallen for one or more of the 10 networking myths!

• Knowing & studying the 10 myths and how you behave when faced with them helps you understand networking betterBecause Fact - Networking produces the best business, the best referrals, & the best clients!

• It is the lowest form of marketing yet so many people don’t take the time to learn “the rules” and trip up over the myths losing money and sales as a result.

Following are the 10 Myths - study them hard and see which ones you

have tripped-up over in the past & cost you business.

Think how are you going to avoid the myths in the future?



MYTH # 01Everyone’s Out

To Sell!


•Some people attend networking events to ‘Sell’:

•They don't do well at NETWORKING & give up!

•If you give up because of this:

•Think of the deals you miss out on

•The customers you will never meet

MYTH # 01The Truth?


MYTH # 02No

EffortRequired!


•Networking groups are not secret societies that reward you just for turning up

•Networking is a marketing tool – nothing more or less.

•Can't blame networking for your failure to put effort in, persevere or being clear on the business plans!

•Honestly decide what effort should you be putting into your networking activities?

MYTH # 02The Truth?


MYTH # 03Get Business At First Meeting!


•Chances are SLIM!

•Networking is about building LT relationships not immediate sales.

•How long do you wait before you get clients? That depends on many factors and your effort & clarity of plans.

•The Law Of Recency often applies - being in the right place at the right time - don’t be fooled that this is a normal outcome

•Know Like & Trust in any networking group - TAKES TIME

•Accept this of networking from the start and you will treat in the right spirit

MYTH # 03The Truth?


MYTH # 04It’s HardWork!


•Nothing but a slog? This belief of networking depends on you.

•Effort is involved – being business is not a hobby!

•Quick rich merchants are soon identified by any networking system and don’t prosper.

•Take a long term view, relax, give networking time to work.

MYTH # 04The Truth?


MYTH # 05See The Same

People Networking!


•Networking is about who people can connect you too to help grow your business.

•Getting to know people well gives you a unique insight in to their habits.

•Flip-side - they get to see how you perform!

•Familiarity gives people confidence to refer you!

•Don’t be tempted by the next shiny new thing - show character by perseverance to increase your reputation for reliability & being more referrable.

MYTH # 05The Truth?


MYTH # 06Won’t Work For My Business!


•Common misconception about networking as people ask how can you turn contacts into contracts?

•Remember - 2 principles of indirect marketing are very real:

★ A. Even if the other networkers are not potential customers, they will know people who are.

★ B. Networking much more than just selling – developing business skills, finding good suppliers, and getting objective feedback on you & your projects

•With the right application and clear plan any business can benefit from networking - effort as ever is required.

MYTH # 06The Truth?


MYTH # 07

TooExpensive!


• The question should be too costly compared to what - no sales!

• Focus your thoughts on the cost of acquiring customers and their lifetime value

• Understanding this fact helps you see how all marketing works & puts networking in its proper place in terms of cost & effectiveness.

• Like all business processes make sure you have proper measurement processes to work out where your leads come from and cost of acquisition.

MYTH # 07The Truth?


MYTH # 08Haven’t Got The

Time!


•Can you afford to say this?

•2 reasons why some people give this as a reason - too busy or not busy enough!

•These are simply excuses

•No one can afford not to keep their sales pipeline constantly topped up and always be willing to create new relationships

MYTH # 08The Truth?


MYTH # 09All Events Are The

Same!


• Networking events divide into 4 types:

•Mixer Networking

•Regular Open Networking

•General Networking One offs

•Referral Networking / Marketing

• Spend the time working out which type suits you, your business and your personality best

• Be prepared to mix & match what you do and don’t forget to use SOCIAL MEDIA too!

MYTH # 09The Truth?


MYTH # 10All Comes Down

To Luck!


• Luck doesn’t exist – only business opportunities.

• Networking is all about creating and spotting those opportunities to move your business agenda forwards.

• Take control of your business by acting on the opportunities that networking presents in a: Planned, Focused & Systematic manner.

MYTH # 10The Truth?

Final Thoughts


• If you Never go networking - you will:★ never know how much business you will losenever meet that

loyal client who also brings you 2 referrals a yearnever know those people who could turn into good suppliers and give you

timely advice just when you need it.Networking really is the best way to get high quality referrals at the lowest cost - but only if you learn to use the tools correctly.These myths are costing UK businesses lost revenue and opportunities - Don’t be the next victim!

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