Quick Tip: Networking and Mentoring to Drive Up Your Small Business
1. Find Groups That Fit Your Small Business Needs
Every small business has a unique set of needs that depend on location, industry and other factors. Look to local chambers of commerce or economic development organizations for location-specific pointers. Volunteer in community events to get to know your neighbors. Join trade associations, attend conferences or get together with indirect competitors for product-specific or industry-specific advice.
2. Do Your Homework
When you’re networking, you’re not giving up anything but your time. It’s the same for everyone else. So, don’t go to these events without your pitch. Know what you’re going to say about you and your small business in a quick summary. But remember, these events aren’t just about you. Give others an opportunity to talk about themselves, their businesses, their products and their problems — and really listen. For all you know, you may be facing the same dilemmas!
3. Follow up
So you’ve been to a few networking events, you’ve met other, like-minded business owners, you’ve exchanged contact information. What’s next? Follow up! Send a personal note or email, give him or her a ring or schedule a time to see each other again. Don’t wait too long to reach out, and remember that the scales will tip toward you giving before you start receiving.
4. Cross-promote
Once you establish relationships — especially if they’re with other small business owners — cross-promote. What exactly does that mean? Cross-promotion can include stocking someone else’s products in your store, having your advertisements on another small business’ materials or even pitching in for shared resources. Read how one small business owner and her contacts started a consortium of area companies providing professional services that complemented her work.
