4 Tips on Creating a Business Networking Plan

Place business networking at the top of your list of activities if you are serious about taking your business to the next level. It's a critical activity that can help you attract clients, market your product, find the right talent for your emerging company, and stay ahead of the latest industry news and trends. 

As noted in The Balance Small Business, networking refers to the process of pursuing mutually beneficial relationships with individuals, professionals, entrepreneurs, and businesses. Make it a goal to leverage these connections to bring you a regular supply of new business, provide the latest market information, and create long-term partnerships. Unfortunately, most small businesses and solopreneurs lack a solid networking plan. Here's how to create a networking strategy that will work for your business.

1. Set Goals

Although networking offers many benefits, you need to have a clear plan that outlines what you want to get from your networking efforts. The Seattle Times notes that one should set measurable goals to help you evaluate what methods work and how effective each one is. Your goals will mostly depend on your needs. They can be in the form of:

• How many contacts do you want to make per month?

• Which kind of business people do you want to meet?

• How many qualified leads do you want to gain in a given period?

• Do you want to find a particular supplier?

• Do you want to gain valuable market and industry insights?

 2. Map Out a Strategy

Now that you know what you want to get from your networking endeavor, it's time to lay out a strategy to reach your objectives. To meet your targeted networks, think of places you are most likely to find them. One way is by asking your current close contacts for referrals and introductions. Before the pandemic, cultivating new relationships were mostly established in trade fairs, seminars, industry-specific conferences, and other gatherings that attract entrepreneurs in your industry.

Due to the current uncertainties and social distance restrictions, it's hard to attend some in-person events. However, this shouldn't hinder your ability to network. Instead of waiting until physical events start going again, you can begin participating in virtual and hybrid events. Many digital events are occurring, and you need to look for one that involves your trade. Some of the event platforms allow you to view and interact with other virtual attendants, enabling you to expand your networks. Here are different ways you can build your network is through:

• Sending email pitches to the people or businesses you are targeting.

• Following and engaging the people you want to connect with on social media pages.

• Looking for virtual events that your prospective contacts are likely to attend.

• Joining local online forums and or networking services that bring like-minded professionals together. A good example is LinkedIn.

• Building a professional website or blog and posting content that can attract and engage your prospects.

 3. Allocate Time for Networking

Make time and incorporate networking as a top business activity -- and not only when you have spare time. You should allocate time to it if you want to achieve your stated goals. Begin to consider the amount of time you can realistically spend in a week to carry out networking tasks. Ideally, it should be at least 8 hours a week.

During this time, update your personal and Forbes.com recommends that you business's online profile, looking for potential contacts, getting in touch with them, and creating compelling content that tells them why establishing a relationship with you can be beneficial to them and you. Don't forget that you will also need time to investigate the tactics that can help you become more successful and follow up with your current contacts.

4. Measure the Results of Your Efforts

To learn whether your efforts are bearing fruit, analyze each tactic's effectiveness at the end of every week, and check your networking goals for progress and validity at the end of every month. Also, evaluate whether you are successfully retaining the contacts you get. If you have no time to focus on the existing relationships, you need to change your approach. Review and revise your strategy, depending on the results you get.

Conclusion

Business networking not only allows you to find clients, but it can also help you to make your brand stronger, exchange ideas with like-minded entrepreneurs, and stay ahead of the industry trends.