Business Advice Tip #2: Do you have your own Small Business Networking team?
Small Business Networking Teams are a highly effective way of extending traditional networking to create warm leads that can generate new business. Business Networking Teams can form naturally (i.e. through personal connections) – as well as through Chambers of Commerce and BNIs.
So What Is A Small Business Networking Team?
Small Business Networking allow businesses that cater to the same clientele to further leverage their connections to support each other. Each business member of the team has a unique sphere of contacts and influence that they bring to the table. The Business Networking Team magnifies this sphere to help open doorways that may not be accessible to individual businesses if they were to operate independently. Typically, a Networking Team consists of three to five businesses that meet on a monthly basis to share warm leads that can generate more business opportunities. That said, in order for a Networking Team to work, each member of the team must make a commitment to support the other team members.
Do’s
- A Business Networking Team requires an additional commitment of time and resources, so makes sure to select team members who are willing to make this commitment.
- Write down your goals and objectives (i.e. each Networking Team member will provide the other members with a minimum of two warm business leads per month).
- Be creative in supporting each other. It is not sufficient to simply provide a name and a phone number. The purpose of a Networking Team is to help each member make direct contact with a potential business relationship, so take active steps to put leads in touch with your Networking Team members (arrange coffee meetings, lunches or conference calls).
- Share your business literature. Business Networking Team members can only help each other if they know their partners’ businesses to the fullest extent and can share literature with warm leads.
- Do reconnaissance: To fully help each other, Networking Team members need to confirm just how warm a lead really is. It’s important to confirm how serious a lead is about doing business that will help a Networking Team colleague, rather than just knowing that a lead is “thinking” about a project.
- Provide critiques: If a Business Networking Team member provides a lead that falls through, it’s important to know why. Ask the lead and provide honest and positive feedback to your Networking Team colleague so they know what took place.
- Brainstorming among Networking Team members is a highly effective way to help each other, so think out of the box. Host presentations, group meetings with leads, lunches or dinners to maximize effectiveness.
Written by coach, Josh Slavitt – pictured here with his son, Liam
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