Business Networking Strategy

Having discussed how important it is to have a clear vision of the financial return on your investment in networking, we need to turn our attention to the other ways networks can benefit both you and your business. While new business is a key driver for many people joining groups, networkers report a range of rewards derived from their activities. Whether you are looking at personal development and support as an individual or staff development and new ideas for a business, it is important to have a clear range of objectives.

Networking with FOCUS The Bottom Line – FINANCIAL RETURN In my last FOCUS blog, I asked the question ‘why did you join the Chamber?’ I believe that networks can produce much more effective results if you focus on what you are looking to achieve from membership. To make the most of networking, treat the cost as a business investment, not a club membership. Like any investment, such as a marketing campaign or new technology, it’s important to know what the return is going to be and to map out a strategy to get results.

A colleague of mine, Rohit Talwar, recently published a poll on Ecademy asking people where they get the greatest return on their networking investment from. http://www.ecademy.com/node.php?op=reply&id=78690&pid=353012 Sadly, it didn't shock me to see that 58% of respondents either weren't seeing a return or settled for the rather vague 'developing relationships that could be of value in the future'.