Networking - Why it is essential to doing business

NETWORKING
Why it is essential to doing business
Prepared by Frank Wyatt, Enterprising Partnerships Pty Ltd 1/11/2014

NETWORKING
What will you learn?
This presentation will allow you
to:
a) Understand why it is
important to network
b) How to initiate networking
for opportunity
c) How to plan your
networking
d) Apply 7 tools as
conversation starters
© Enterprising Partnerships Pty Ltd | Frank Wyatt 2
Photo credit: docstockmedia, Shutterstock

WHY STUDY THIS COURSE?
© Enterprising Partnerships Pty Ltd | Frank Wyatt
Networking is the way business is
done
The people you meet become
opportunities:
• to share ideas, problems and
solutions;
• to collaborate to grow ideas and
value;
• to solve problems;
• to get introduced to other people and
networks;
• to add value to those you meet; and
• to be paid for your ideas, services
and products.
3
People network to get the job done, to get business and to get ahead.

WHY DON’T PEOPLE NETWORK?
Shyness…..
• 60% of Americans say
they feel shy and
uncomfortable in business
and social settings.
• They have a fear of
rejection
• Anxious to ask for favours
– The Shyness Clinic,
Stanford University
Reasons given…
4© Enterprising Partnerships Pty Ltd | Frank Wyatt
Skills…..
• 85% say, “I don’t have the
network I need to
accomplish my goals.”
• 97% say “I have trouble
remembering names.”
• 85% say, “I don’t know what
I want when I go to a
networking event.”
– Contacts Count Research
Impatience…..
• Impatience for results
• Don’t build fruitful
relationships
• Gone for the close too
soon rather than
building trust
– Ivan Misner , Founder
of BNI
Social skills…..
Dependence on SMS,
email, social media etc
leaves many bereft of
social skills
– Fast Company
Confusing it with
selling…..
• Too often networking is
confused with selling.
• Networking is not
something you do to
people, it is something
you do with people
– Frank Wyatt, EP
Uncomfortable talking to
others…..
• Many of us were raised to be
humble and not to brag.
• Networking and interviewing
requires that you talk about
yourself and your
accomplishments.
– Barbara Sefani, Careers

NETWORKING
Who enjoys it?
Unless you’re an extravert this can
be a real pain
• Yet we also know that business is
done by talking and working with
each other
• One good thing is, it is people who
network and collaborate!!
Companies are merely legal
entities.
• Successful entrepreneurs are not
blocked by fear; they feel the fear,
live with it and use it
5

INITIATING NETWORKING
Realise you can rise to the
occasion to be an outward going
person for a short while when
needed.
Set aside your fears; go for the
goal.
Spark opportunities
6

PLANNING YOUR NETWORKING
© Enterprising Partnerships Pty Ltd | Frank Wyatt 7
Planning is necessary
Who is likely to be at the networking
session?
Who is likely to be valuable to talk to?
What will interest them? Show interest in
them and what matters to them. What can
I ask them to share with me?
What will they want to hear from me?
What do I want them to know about me?
Planning opportunities
Treat networking like a party
where you anticipate who’s
going, get to know people and
sometimes become friends

BEGINNING CONVERSATIONS
© <Name> | Contact person for this course
1. The person at the bar technique
Watch when you next meet someone
standing at the bar or coffee shop: they
listen to what you say and ask you about
the last aspect of whatever you say. Do the
same.
“Tell me more about that” or “what do you
mean by…”.or…”how will that impact …..?”
Always be open to letting people tell you
about themselves and their story.
By being curious, showing an interest and
asking follow up questions you
demonstrate your interest, so they’ll more
often than not reciprocate.
Tools to enable you breaking in….
8

| Contact person for this course
2. Avoid digital questions
Yes or no questions are digital
questions. They usually close
down a conversation rather than
opening it up be cause there can
be an awkward silence at the end
of them You’ve got your answer,
now what will you say?
Combine two elements of:
9
Examples
“Tell me how that will matter to your staff”
“When will it be important to share that with
your suppliers?”
“How will it influence who you sell to if you
know what your customer wants?”
What
When
/ Who
Where
How Why

© <© Enterprising Partnerships Pty Ltd | Frank Wyatt
3. Three wise men giving gifts
Be willing to share.
Because you’ve listened then maybe
you can offer gifts that matter to them
(not you). E.g. provide them with a
complement that directly relates to
something they have said.
Giving gifts randomly often offends
as it demonstrates that you know
nothing about what matters to them.
10
Focus your gifts on what they
have already told you
matters to them.

© <© Enterprising Partnerships Pty Ltd | Frank Wyatt
X MULTIPLY
• I’d like to know more about your
business
• How would you like to expand
your business?
• What more can you do to grow?
• If you had a magic wand, what
else would you do?
+ ADD
• What else would you like to add
to your business?
• If you had a magic wand what
new ideas would you add?
• What have you seen others
doing that you’d like to add to
you business?
- TAKE AWAY
• What is holding you back that
you’d like to do less of or
remove?
• What is no longer useful or that
you might do or use-less?
• How can you remove obstacles
to your business?
% DIVIDE
• How might you share the
challenges with others?
• Do you delegate effectively?
• Are there others who you could
collaborate with?
• If you were to join forces with
others what could you achieve?
Tools to allow you to break in to a conversation
11
4. Maths Model – think about this opportunity to break into a
conversation as questioning based on arithmatic.

5. Have fun and bring joy to the world
No one likes hanging around with victims
or people who are users.
Let some sunshine into your world and
radiate it to others in every exchange
(even when things are tough).
Focus on the issues rather than the
person when there are disagreements.
Reinforce the person and the potential
for future relationships.
12
Law of reciprocity: “What you give
is what you get” OR “a kind action
will be followed by a kind action” OR
“do something nice and people will
feel compelled to do something nice
for you in return”

6. Change the words in your head
What if we thought of networking as a
way to meet people with whom we share
mutual interests, joy and fun?
That it wasn’t about racking up tons of
names and business cards, but rather
about building a strong and supportive
community?
And instead of being one-way or one-
time, it’s about creating long-term
relationships to nurture and grow?
13
Insert the words “mutual”,
“supportive”, “nurturing”,
“connecting” and “long-term” into
how you think about networking
Photo credit: docstockmedia, Shutterstock

© <Name> | Contact person for this course
7. Follow up to ensure they know
you are serious
You know when you meet someone
you like and you wait for their call?
We have all types of avenues for
follow up: SMS, tweets, email,
Skype, LinkedIn etc
Don’t just send a generic request on
LinkedIn, continue the discussion
and open the opportunity for follow
up discussions.
14
Present them with an opportunity related to
what you’ve heard them say. Then you can
work toward solving their problem.

0414 392 323
frank@enterprisingpartnerships.com.au
Enterprising Partnerships
PO Box 5127
South Melbourne 3205
@communityep
@Enter_EP
enterprising-partnerships
enterprisingpartnerships
frank19491
www.enterprisingpartnerships.com.au
CONTACTS
Copyright Enterprising Partnerships 15

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