By sean

Networking is vital to grow small businesses. Typically, small business owners rely on their existing networks for initial customers. In addition, small business owners will try to quickly expand their networks in hopes of generating new customers.  While this push to increase business contacts is understandable, small business owners should be careful to not alienate contacts.

For example, let’s take a look at small business brokers or advisors. These small business professionals help represent businesses for sale. Basically, they run the process to attract potential buyers and ultimately sell a given business for the current owners. Small business brokers spend a lot of time networking and cultivating relationships with various professional associations, business owners and entrepreneurs with the hope of being considered to represent the business if it is ever sold.  The most successful advisors generally adhere to the following simple guidelines for professional networking:

1. Do Not Misrepresent Yourself - You should never misrepresent yourself or your company – eventually it will come back to haunt you.

2. Genuine / Sincere Interest – You always want to come off as genuine or sincere in your interest regarding people and their businesses. For example, let’s assume you are at a networking event. If you simply ask for peoples’ cards and then quickly move on, you likely will give the wrong impression – you are only interested in yourself / your own business. This brings us to the next rule.

3. Rule of Reciprocity – Any website that has keys to networking articles will mention the “rule of reciprocity.” This rule is a foundation for successful networking. It is important to consider how you may help those people in your network. Networking is not just about gaining new contacts or new opportunities for yourself – it’s about trying to help each other. Think of it this way – are you more likely to help someone who just is interested in you being a customer or someone who is willing to make some introductions for you and interested in you being a customer?

4. Do Not Reach Out Only When You Need the Help - Unless you have a clear understanding with someone, you should not only reach out to people in your network when you need them. Again, this shows you aren’t really thinking about how you are able to help them – only how they are able to help you. Think of it this way – did you ever have a friend that you only heard from when s/he had nothing else going on? It probably bothered you, right?