BforB UKThe 10 Myths of

Networking

Been to a networking event & come away sad at lack of biz you did?If this is true, you’re probably wondering what went wrong for you!

Who am I•Managing Director - BforB

•Past President -SCC•Chartered

Accountant•25 Years experience

•Social Media Addict

Introduction•Ever been to a networking event?

•Come away disappointed at the lack of business you did?

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Introduction

•If that's true•Probably wondering what went wrong for you!!!

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Introduction•Answer?•You've probably fallen for one of the10 networking myths

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Introduction•Knowing the 10 myths helps

you understand networking is powerful

•Because Fact•Networking produces most

profitable business, best referrals & best clients.

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Introduction•But - is networking right for you?•Use same approach to all marketing:

Test it!•Testing takes more than one meeting•We'll be astonished if you don’t make at

least 1 useful contact each time.

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MYTH # 01Everyone’s Just Out To

SellTHE TRUTH?•It’s true some people attend networking events

with a ‘Sell Sell Sell’ mindset.•They don't do very well at NETWORKING & give up.•Good news - Understanding 5 basic rules of good

networking = massive leverage•And if you don’t do this:

• just think of the deals you miss out on• the best ever customer you will never meet.

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MYTH # 02No Effort Required

THE TRUTH?•Networking groups are not a secret society where once you’re in, you’re quids in.

•Like any method, networking is a tool – nothing more or less.

•You can't blame them for failure!•So what sort of effort should you expect to be putting into your networking activities?

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MYTH # 03You Get Business AtYour First Meeting

THE TRUTH?•Chances of this happening - SLIM!•Networking = building LT relationships not immediate

sales.•How long do you wait before you get clients? Who knows.•The Law Of Recency•For people to Know Like & Trust - TAKES TIME•Accept this of networking from the start•But - networking = higher quality prospects who trust you

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MYTH # 04It’s Hard Work

• THE TRUTH?• Is it nothing but a slog? Truth depends on you.• Of course there is effort involved – in the end

this is a marketing activity, not a hobby.• However, once you take a long term view you

can relax and give it time to work.• You’ll find yourself enjoying having helped out

a contact, knowing you have a valuable resource for yourself in the future.

MYTH # 05You Only See The Same People

NetworkingTHE TRUTH?•Its not all about the people in the room its about who

they can connect you too. Seeing the same people builds confidence.

•You will get a unique insight in to their habits.•Flipside of this is that people also get to see how you

perform•Regular attendance gives people confidence in referring

you•Successful networkers will always value indirect benefits

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MYTH # 06Won’t Work For My

Business• THE TRUTH?• Common misconception among people who sell online, or

have a very nuts and bolts product that markets to a narrow sector.

• In cases like these, how can you turn contacts into contracts?• You can see how 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 is about so much more than selling –

developing your business skills, finding good suppliers, and getting objective feedback on your projects and marketing.

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MYTH # 07It’s Too Expensive

• THE TRUTH?• Not what you spend on networking that

you should focus on, but cost of acquiring customers.

• Once you get this, transforms how you see networking & marketing in general.

• Far easier to see the value of your networking in terms of acquiring customers over LT, and their lifetime value.

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MYTH # 08I Haven’t Got The Time

• THE TRUTH?• No business can afford to say this.• 2 reasons why some people give this as a reason• There will be various solutions to the problems

you're experiencing in your business.• How about more contacts that lead to better

quality referrals, joint ventures and unbiased advice? These are what you get with networking.

MYTH # 09All Networking Events Are The

Same

• THE TRUTH?• Networking events can be divided into 4

types:•Mixer Networking•Regular Open Networking•General Networking One offs•Referral Networking

MYTH # 10It All Comes Down To

Luck• THE TRUTH?• Luck doesn’t exist – only opportunities.• Networking is all about creating and spotting

those opportunities.• You can see how your attitude can help tap the

huge potential of networking.• You too can take control of your business by

acting on the opportunities that networking presents to you in a planned, focused & systematic manner.

Final Thoughts•So there you have it - 10 misconceptions about

networking. We hope that by now you can see how these really do affect your business.

•If you never go networking:•you'll never know how much business you will lose

•never meet that loyal client who also brings you 2 referrals a year

•never 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 - but only if you use the tools correctly.

Conclusion•At BforB we come across the following 10

myths consistently with people we meet.•These myths are costing businesses

across the country lost revenue and opportunities.

•This presentation sets the record straight and we hope it proves useful to you and your business.

Thank-You(Linda's Logo)

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