Most business people network with the end goal

being profit of some kind. Whether it is a sale

for their business or the company they work for

or maybe a new and better job.

They often seek out official networking functions

as the opportunity to expand their contact list.

This is an effective strategy if you create and

nurture quality relationships.

But working the networking circuit is not enough.

You must do more than talk to dozens of people

and grab every business card available.

Yet, every networking function has tremendous

potential for new business leads. Following are

5 easy steps to profiting from business

networking.

The first step is to select the right networking group

or event. You will by far get the best return on your

time invested by participating in networking events

designed for your particular industry. This includes

trade shows, conferences, and associations

dedicated to your business type.

For example, if you are targeting businesses with

over 100 employees, why would you go to a

networking function primarily designed for individual

small business owners.

Don't forgot to join groups where your target market

participates. For example, a friend of mine is a real

estate agent so he joined a local bankers

association to get access to mortgage brokers and

bank owned properties.

It's about quality contacts versus quantity.

Often, networkers are tempted to

distribute and collect as many business

cards as possible during a business

event.

You will get better long term results by

setting a goal of making between two and

five new contacts at each networking

event you attend.

By limiting the number of contacts, you

are able to focus on quality connections

and building rapport and trust with each

person.

First impressions matter. You cannot make a first

impression twice. You must seize the one

opportunity you are given because you may not

get a second chance.

Keys to a strong first impression include a great

handshake, good facial expressions, direct eye

contact, genuine interest in the other person you

are speaking with and your overall attentiveness.

These keys are so important, I suggest you

practice to develop a firm (but not too firm),

confident handshake, a natural, genuine smile

and make good eye contact.

Some suggested techniques to ensure a great

initial impact are: notice the person's eye color

as you introduce yourself and listen carefully to

their name.

If you cannot hear or understand the name, ask

them politely to repeat it. Do not go the rest of

the event not knowing the individual’s name, or

worse mispronounce it.

Speak with a loud and confident tone of voice.

Often people are nervous at networking events

and do not speak loudly or clearly enough to be

heard correctly.

Get to know the person you are speaking to

before talking about yourself. You can achieve

this by asking them what they do. Then you can

either comment on their business, ask questions,

or ask them to explain something in more detail.

As you show interest in them and their business,

they are more likely to become interested in you

and your business.

Know what you do and be able to clearly say what

it is. Similar to the "elevator pitch", you should be

able to introduce yourself in a brief and succinct

manner.

Create and practice two introductions: ten

seconds or less and thirty second or less. Your

introduction should clearly state what you do and

for whom.

For example; “I work with an internet marketing

firm that helps small businesses increase their

sales and profits.” A key that often gets

overlooked by networkers is developing an

introduction that encourages the other person to

ask you to elaborate. This helps in the rapport

building process.

When the person asks for more information about

what you do, that is your opportunity to use the

thirty second introduction.

For example, “Jane Doe of Acme Supplies was

looking to increase their lead and sales generation.

They contracted our firm and after six months we

helped them increase their sales by 34.5 percent.

In addition, they were able to cut their cost by 10

percent by eliminating spending on less effective

marketing channels.”

Per the above example, an effective introduction

should give a clear example of your work and

typical results you have helped your clients

achieve.

You should be honest, genuine and authentic so

you do not sound like a cheap salesman peddling

snake oil. However, it is important that you practice

both introductions so they sound natural and you

can use them at any time and in any situation

Follow up is a MUST. This may be the most important

step to making a networking event turn into profit. Yet,

it is where most networker fail. Use these two

strategies to ensure proper follow-up:

1) The next day following the event you should

send a handwritten card (not an email) to the

people you met. A card will make you stand out

from the crowd and adds a personal touch.

To further personalize the message, mention

something you spoke about and clearly state your

interest to keep in contact. Be sure to include your

business card.

2) Within the next two weeks, contact the person

to arrange a meeting for coffee or lunch. This

initial meeting is NOT a sales call - it should be a

relationship building session.

2) Rome was not built in a day and neither

is trust. Use this meeting to learn more

about the person's business, their

challenges, and how your company can be

of assistance. The key here is to listen

Without a doubt, networking can lead to

profitable results. The key is to build trust and

that comes from your contacts getting to know

more about you and your business. Then they

are more likely to work with you or refer

someone else to you.

Michael Ray, President of Renegade Business Solutions,

works with small businesses and helps them get more leads,

make more sales and make more money. He can be

reached at Mike@RenegadeBusinessSolutions.com or at

202-640-1744.