During these tough economic times, business networking activity has moved up a gear as companies chase new business growth. In the February 2011 edition of IoD News , this excellent business organisation brought to attention the added value to be gained from networking opportunities.
Some say that engineers do not fully appreciate the value of networking, nor feel comfortable engaging with this activity, but if so, they are missing a trick.
Good networking isn’t about meeting loads of people and amassing a stack of business contacts; it has been redefined. Successful networkers choose the environment that works best for them and their business targets – these are authentic and focused on securing specific benefits.
Many are daunted by the prospect of entering a room full of strangers, but it is easy to start a conversation, with a potential new contact, by thinking and asking what you can do for them, rather than what your business can gain from it. This changes the focus and creates a positive conversation. Everyone is interested to receive a few words of advice or perhaps even a link to another handy contact... and so the network process begins.
Remember that people who value you first, will go on to become your most valuable and reliable contacts later.
The MIA runs many focussed business network events, please click here to view the events diary. These simple, straight forward events – large and small – bring together motorsport community people who share the same clear intentions – all being focused on the business of motorsport. All want to meet and help new people, and make contacts whether at the annual MIA Awards Dinner at Autosport International or the monthly member to member events throughout the year.
“I encourage anyone to use these events – whether an MIA member or not - to meet motorsport people with high potential for new business. Find out about their business, what you can do to help and find some reason to get in touch with them again a few days later.” says Chris Aylett, CEO of the MIA, who has built a reputation for growing a substantial and valuable international network, which he uses well on behalf of MIA members. “It is important not to try and win new business at an event or immediately following it. Far better to grow a contact by offering to help them and then, in due course, you find business grows from this.”
Choose the network events that will put you amongst those business people who are most likely to be rewarding to your particular business plans. Avoid general, cross-industries broad-based networking events - focus on those in your business sector to get you close to the deals within your own community. Some companies, on realising the benefits of networking, are hosting their own networking events. An open day at the factory, inviting clients to bring along their own guests from the same sector, brings great benefits. These events can be for 10 people, 50 or 100 – it is not the size that counts but the quality of the guests. One unique benefit of hosting your own network event is that you can target the local region in which you operate, attracting both new and existing customers and suppliers, securing new business which is more easy to service within that area.
You can grow networks by attending conferences or training events, as these attract potential ‘ business leaders,’ trying to improve their skills or knowledge within the business of motorsport. Meeting these peers helps you discuss current business issues, gain knowledge of potential difficulties and conflict and most importantly, discover new areas of opportunity.
Successful networking is about building long term relationships. People like doing business with people they know. Meeting the same people, on a regular basis, helps them to get to know you better and bring their business to you, directly or indirectly.
The latest development in developing business connections is social media. Probably the most popular business-focused is Linked In, where they is already a Motorsport Industry Association group and others from motorsport who work through this connection. However, you must combine social media with face-to-face networking to create a real impact – there is no substitute for the spoken word and a warm hand shake.
Understanding and using networking strategies will definitely deliver new business. Results speak for themselves – mutually beneficial connections will bring you a competitive edge and help your business to thrive.
