ENTREPRENEURIAL HACK OF THE WEEK #22
All for One and One for All
What can you do to provide a benefit to others?
In today’s fast-paced business world, networking has become an indispensable tool for individuals and organizations. In my previous hacks we’ve discussed it a bit, but how do you truly network successfully?
It is about making connections and cultivating meaningful relationships that can lead to mutual growth and success for all parties involved. And, dare I say, collaboration?
I have always thought collaboration was an overused buzzword. The best collaborations are where we invest in each other’s mutual outcomes and get better together. This is both hard and rare. It is hard because it requires you to “subvene” your self-interests. It is rare because most non-profit organizations possess a scarcity mindset.
Symmetry and reciprocity make collaboration successful. Such successful partnerships are rare because they involve giving up some of your identity and prioritizing for the benefit of others.
Today, collaboration is touted in the non-profit world. Still, when you lift the car’s hood, you often see an asymmetrical relationship or one organization “winning” at the expense of the other (although nonprofits are told not to think this way).
I suggest something better.
What do you have to offer?
Consider networking as a two-way street. While making connections is essential, offering something valuable in return is equally important. When engaging with potential business partners or clients, ask yourself what unique skills, knowledge, or resources you bring.
What can you offer that sets you apart from others?
By recognizing your strengths and expertise, you can position yourself as a valuable asset in the networking process. Whether providing industry insights, offering professional advice, or sharing relevant connections, having something to offer establishes a solid foundation for mutually beneficial relationships.
Remember, networking is not just about taking; it’s about building a community where everyone benefits.
Transactional interactions should not be misinterpreted with relationship building. The amount of spam generated through LinkedIn is incredible. Someone sends you an offensive InMail to bait you to respond. See a recent one I received:
“I went through my emails and noticed you still need to respond. This indicates the following:
* You’re being chased by a giant T-Rex and haven’t had time to respond.
* You are interested but haven’t had time to respond.
* You have no interest.
Whichever one it is, please let me know, as I’m getting worried!”
So, why should I respond to a message like this one? It offered no value to me. It displayed no understanding of my business or my needs. It showed no appreciation for the hundreds of emails I receive each day. Nothing in this email made it rise above spam.
Create helpful content
Content creation has emerged as a powerful networking tool in today’s digital era. Instead of solely focusing on self-promotion, shift your mindset toward providing beneficial content to your target audience. Share your expertise through blog posts, articles, podcasts, or videos that address their pain points and offer practical solutions.
YouTube, Facebook, Instagram, Tik Tok, LinkedIn, Medium…. Those platforms and more are full of content creators sharing valuable information and engaging people worldwide.
Reflect on your professional experience and determine how to leverage its best to create media your audience will find helpful. Figure out how to be a resource and depot for others.
By positioning yourself as a reliable source of information or thought leader, you establish credibility and trust in your network. Your content should aim to educate, inspire, and entertain rather than be solely promotional.
By consistently delivering value through your media content, you attract like-minded individuals and potential business partners who resonate with your message and are likelier to engage and collaborate with you.
Keep customers engaged and loyal
Networking is not limited to making new connections but also nurtures existing personal and business relationships. You need to be retaining customers along with gaining new customers.
Remember to stay in touch with past customers and clients, as they can become valuable advocates for your business. Keep them updated on your latest developments, offer exclusive upselling opportunities, discounts, or promotions, and seek their feedback to demonstrate that their satisfaction and engagement matter.
Similarly, take into account the power of customer retention.
Happy and satisfied customers are more likely to refer your business to others, creating a positive ripple effect in your network. Invest in providing excellent and memorable customer experiences, promptly address concerns or service shortfalls, and continually seek ways to enhance their experiences (and how to connect them to your brand).
By focusing on customer engagement, you build a loyal customer base and open doors to new opportunities through positive word-of-mouth.
Networking in business is more than just exchanging business cards or making connections on social media. It requires a proactive approach and genuine efforts to build lasting relationships.
Realize the need to offer value, create helpful media content, and nurture existing customers, and by doing so, harness the power of networking to drive growth and success in your business.
Embrace the art of networking and watch your professional network flourish.
Want more tips on networking? You can get my best tips here.
Karl R. LaPan is the director of UF Innovate | Accelerate, the place-making, entrepreneurial support organization within UF Innovate dedicated to working with entrepreneurs, innovators, and business builders. Through two award-winning, globally recognized facilities, UF Innovate | Accelerate delivers industry-leading entrepreneurial programs and services designed (1) to accelerate the growth and development of its client companies and (2) to increase the likelihood of success of the business ventures it serves.
Originally published at https://www.linkedin.com.
