HOW TO EFFECTIVELY NETWORK TO CREATE NEW BUSINESS LEADS   by Bruce Kullberg
1st Part - cont. in Issue #11

Networking.
(1) The ability to build sales profitability through impersonal communications and contacts.
(2) The most cost effective way to market a business.

Networking is both a concept and a specific activity which, if understood and successfully implemented, can mean big things for your entrepreneurial business. The dictionary defines a network as "an arrangement of parallel wires, etc., crossed at regular intervals, or anything like this, as in a system of inter-connected roads and individuals." When placed in a business context, networking means seeing to it that practical information about similar (parallel) business needs or customers' desires get communicated (via wires?) to all affected businesses (inter-connected individuals) so they can take action. By being "wired" into a human network of contacts and information relevant to the business, the entrepreneur can be better positioned to exploit the marketplace.

WHERE AND HOW DO I BEGIN?

Business networking groups and organizations have become commonplace in almost every metropolitan city throughout the United States. Either through the efforts of your city and/or state economic development departments, Chamber of Commerces', universities, or private initiatives, the structure is in place. Almost all local newspapers publish meeting or club dates for special interest groups. If you can find the listing, call your local newspaper for further information. It is up to you to tap into these organizations and benefit through active participation.

Networking is advertising in its' purest form - word of mouth. I'm not referring to advertising a product or service - but yourself. If you are attending networking meetings, but not introducing yourself to as many people as possible, (AND explaining your present situation or business needs!), chances are you're leaving the meetings feeling discouraged and ineffective, and probably wasting your time. Suppose you are brave enough to attend several meetings and you get to know several people? What usually happens when you attend the next meeting? Do you end up finding a comfortable corner and talk to the same people you met the week before? Sure, most people do! Almost everyone feels more comfortable and secure by socializing with familiar faces.

But that's not the purpose of joining a networking group. Results are! Take the initiative to talk to someone new by introducing yourself. Ask them what type of business they own, or would like to start, or at least why they attended the meeting. Be a matchmaker by introducing and linking people with similar interests. Through your actions, they are going to be appreciative of your efforts, which could result in a returned favor. Most likely they will follow your example and be a matchmaker too. Networking should become an integral part of your marketing efforts. This was best explained by Harry Leibowitz, President, Partner In Marketing, a marketing firm based in Columbus, Ohio, "Everyone is a potential customer, or a lead to a potential customer. You have to work at it, and it should be thought of as a job. And don't have someone, or expect them, to sell your business. You sell it!"

NETWORKING TO GENERATE NEW BUSINESS LEAD

Mr. Leibowitz uses a process called 'extended networking' in his daily activities. Start by writing down the names of everyone you can think of, everyone you know from school, church, organizations and associations, friends, neighbors, relatives and so on. You should have approximately 500-600 names on this list. After compiling this list, exercise judgement in dividing this list into three catagories. This list will include Potential Customers, Leads to Potential Customers, and Both. Next, take each Potential Customer list and and divide into three catagories, being High Potential, Modest Potential, and Low Potential. You will now have 9 cells of catagories. Those who are on the High Potential list, send a personalized letter and a nice brochure, then call to follow up within 5 days after sending. If you have more Potential Customers on your list than you can conveniently call within 5 days, then send in waves and allocate the time to call. Those who are on your Modest Potential list, send a letter and brochure. After waiting 2 to 3 weeks, send another letter (only) as a reminder. In another 2 to 3 weeks, send another letter. Follow up with a phone call ONLY after working your High Potential list. And those who are on your Low Potential list, don't bother.

DON'T LET YOUR EFFORTS GO TO WASTE -- FOLLOW UP!

Once you have generated interest, be sure to follow these simple steps to close the sale:

1) Pursue the appointment. You still have to get your foot in the door and make your presentation.

2) Be prepared. Find out as much as you can about your potential customer - company background, competitors, etc.

3) When doing your presentation, sell the benefits of your product or service, not the features. The customer wants to know how your product is going to benefit him, save him money, or increase productivity. How it works is of little consequence or importance.

4) Be persistent. After making your first presentation, follow up to answer any questions or objections, then,...

5) Ask for the order!

to be continued

Bruce Kullberg is the owner of STRICTLY BUSINESS! BBS, a computerized informational service for small business owners, managers & business professionals founded in 1990. You can call our bbs at (614)538-9250; 3/12/2400 bps; 8/N/1. Download on the 1st call! Access our Online Guide To Business Planning(r), FREE newsletters, plus much more!
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Today's Motivational Reading

General Colin Powell's Rules: by Colin Powell

1. It ain't as bad as you think. It will look better in the morning.
2. Get mad, then get over it.
3. Avoid having your ego so close to your position that when your position falls, your ego goes with it.
4. It can be done!
5. Be careful what you choose. You may get it.
6. Don't let adverse facts stand in the way of a good decision.
7. You can't make someone else's choices. You shouldn't let someone else make yours.
8. Check small things.
9. Share credit.
10. Remain calm. Be kind.
11. Have a vision. Be demanding.
12. Don't take counsel of your fears or naysayers.
13. Perpetual optimism is a force multiplier.

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Subscribers' Corner:

FINDING THINGS WE ARE LOOKING FOR
- THE CHOICES By Andrew Anderson

From time to time we all find that we need to upgrade things we've had for ever; maybe our old car, lawn mower, piano, fridge, etc, and the search begins.

Feeling very positive, we spend maybe a day or so checking out the Dealers to see if we can afford a new car, mower, etc. we find to our dismay that what was $155 new 10 years ago is now $470 - for the SAME THING!

Having checked the bank account, we now realize that we'll have to settle for a "pre-loved" car or mower, etc - but only a couple of years old - just "run in" really and as good as new. Well - we've got to be positive they keep on telling us!

No problem, we'll just spend a couple of hours looking in the local newspaper - there's bound to be someone selling exactly what we want! Good thinking except that it isn't there. Then we try the

State/County newspapers, the National 'papers, then the Trade 'papers until WE FIND IT!!

Great, except that it's THE WRONG COLOUR! I'ts now been maybe weeks and the Valium is getting low so we just have to accept the colour and buy it. Even the Champagne is removed from the fridge and put back into the cupboard.

We're supposed to feel really good now aren't we - oh yes - we're just relieved, that's all. Never again we say, but sometimes we have no choice - we just hope the next search is not next week, or month, or even next year!

In the middle of this searching we may have even resorted to placing Ads in the "Wanted" sections of those newspapers but the Ad is next to all those ones which want furniture, antiques, jewellery, etc in general - not particular items like ours - so doesn't do very well.

The idea of advertising for what you WANT and letting the Sellers come to you is a good one and makes a lot of sense. It saves all that time we waste trying all that frustrating stuff above.

It's great for Sellers too - before they even think about placing "for-sale" Ads they look through the WANTED Ads to see if someone wants what they are selling. If they find a match it's saved them the cost of their Ads, and, importantly, the time waiting in for the phone to ring. ( I can see the look on your face as you remember that - and half of them are nuisance calls anyway!

When you realize that the Buyer/Wanter is the person with the money, why are they the ones spending maybe weeks looking for what they want? Surely the Seller should be the one doing the "hard yards" just like a Salesperson in any other business!

This concept of reverse classifieds is such a win/win one that it's hard to believe it hasn't been tried until recently. It will probably take a while for the public to adopt this form of finding what they are looking for, but having so many advantages over the "normal" way, the Author believes the concept will eventually become "the norm".

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Andrew Anderson , who resides in Sydney Australia, became so frustrated looking for various items over the years that he created the website to offer the buying public a better way of finding the things they want to buy using the "reverse classifieds" principle. Visit the site to see if you agree. Email: andrewanderson@optusnet.com.au Fax: Australia 29400 2331

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Murphy's Law    The Law of Attraction attracts to you everything you need according to the nature of your thought life. Your environment and financial condition are the perfect reflection of your habitual thinking. Thought rules the world.

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