Business Networking (BNW) is all about the process of building relationships that are based on giving mutual value, especially business (whether direct or indirect), that connects people who have shared business agendas.
Please note that I am not talking about “meeting people” per-se, because the “connecting” domain has gotten a, wrongfully, bad name, due to small talk and “Chachke” networking context.
The key to making a good connection in the business world is placed in understanding our mutual giving and receiving needs. Such a relationship course is hard to achieve, especially when it comes to meeting at the “usual” events, we are all too familiar with (conferences, get-togethers, lectures etc.). At these events most of us just shake hands, exchange business cards and go “on to the next”, without really getting anything substantial from these people. And anyway, these gatherings only help you meet with, either, people you already know, or new people, which most of them are on the same dialog level, but add nothing to your quality level.
The main goal in BNW is making a better profit. The best index, of course, is the bottom line, that is, did we make more money or not (remember, it is BUSINESS NETWORKING – that is why money is an issue). A better profit could be achieved by getting a new client, doing more business with an existing client, or locating TALENTed people that lead the firm to growth and prosperity.
The China Business Network Silicon Dragon Dinner SF (Photo credit: Elliottng)
The best business relationships are based on data sharing by closed circle cooperation, which share information that is not public domain. Such a system shares high value information that leads to high value ideas and a high value support system.
Such effective business relationships demand high listening skills, which lead each person to focus on his or her personal abilities that will enable to locate any way or approach, which will help the other person. This kind of relationship is the exact opposite of listening to a person in order to find out how he or she can help you.
If networking is mainly about the VALUE of knowledge sharing of a small quality group of individuals, then it is a commodity. Therefore, the key to succeeding in BNW is building a long-term mutual value relationship. Just imagine how easy your life would be if you had a good, strong and friendly relationship with the top six people from the Fortune 500 Hundred or the list of the richest five people in your country?!
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Maintaining a long-term mutual value relationship is a challenge indeed, but to score the top six Fortune-500 nominees means we need to explore our circles and identify who will become a success story and pamper relationships there.. this i believe is the even a bigger challenge…
You are so right Yehuda, building relationships is a science, and you need to havestrong vision for yourself and a strategy to implement. One of the most powerful ways to approach success is to implement smart network build up strategy for kong term results