Cynthia D'Amour Helps You
Build the Relationships
That Fuel Your Business Success

Five Networks You Need
for Business Success

by Cynthia D'Amour

If you mention networking to most people, they immediately think of attending an event and swapping business cards. In truth, it's only the tip of the iceberg when it comes to this powerful business building marketing strategy.

Networking is the process of building mutually beneficial relationships — much more than a moment in time.

When networking is done well, it's a very cost efficient business building strategy. When done poorly, it's a complete waste of time and money!

To maximize effectiveness, entrepreneurs need to strategically plan for networking in five separate areas:

1. With Clients

Your clients are bombarded with choices for quality suppliers. When you are a business buddy with them, your relationship can be the glue that keeps you together. Their loyalty and repeat business is the most profitable business you can find.

Your clients can also provide you with valuable feedback. I like to ask my client buddies questions about what they think are the strengths of my products. Their answers often provide the valuable "ah ha" that I didn't see.

When your clients like your product/service and feel like their buddies with you to boot, they can be a very steady stream of referrals.

2. With Suppliers

When your suppliers feel like they are part of your team, you will experience increased service and sometimes even lower costs — who else, but their buddy, would they call first when a good deal comes through hands?

Your suppliers can also share valuable information about what your competition is up to.

3. With Competition

When you turn your competitors into industry allies you can create a wonderful source for referrals. The key is to know what your unique niche is.

If your competition knows your specialty and trusts you to do a good job, they can feel comfortable referring you overflow business — as well as appropriate business for your expertise that they don't handle.

4. With Your Business Community

When you have an active network in the general business community, you can create a gold mine for referrals.

The trick is to make sure that people know what you do. Too often, business owners, use general statements like "consultant" and forget to educate their buddies on their expertise.

5. Within Your Own Company

Having buddies within your company across departments, as well as levels of management, will fuel your effectiveness and lower costs.

If you're a one-person show, you still have an important "company network." They are the family and friends who continue to believe in you and your dreams. Don't forget to take time and nurture your relationships with them as well.

To maximize the ROI on your networking, you need a strategic networking plan that incorporates the who, what and how for each network.

Networking is a critical marketing strategy that, when understood and implemented carefully, can take you to your next level of success.

Cynthia D'Amour helps you build the relationships that fuel your business success. She's the author of several books including Are You ONE Relationship Away From Making BIG Money? and Networking: The Skill the Schools Forgot to Teach.