I’m starting a whole new series on networking etiquette. However, this is not meant to be a rehashing of all the horror stories I’ve encounters (though there are many). Instead, I’m aiming to give you guidelines to ensure you have the most successful networking experience possible. I’ve found people like to meet, work with, and refer people who follow some simple principles.
What is Networking?
Networking is basically meeting people for a specific purpose. In this case, we’re talking about business networking. In other words, you’re meeting people for the purpose of getting clients and growing your business.
Networking can happen anywhere, but how you approach the networking certainly changes based on your environment. For example, you’re expected to share more about your business at a professional networking event than you are at your kids’ daycare.
Why Networking Etiquette?
Networking etiquette is important because as Bob Burg so elegantly wrote, “All things being equal, people will do business with and refer business to, those people they know, like and trust.” These guidelines are important so that people have the opportunity to like and trust you easier and faster than without them.
How I Developed These Guidelines
When I first started my law firm in 2012, I didn’t have a budget for marketing. I also didn’t have any connections in the area. My startup was the ultimate bootstrap. I fortunately had an ability to make a pretty good website for next to nothing, my intelligence, a family that was able and willing to give me a $20,000 loan, and my determination.
My parents did provide a few stipulations on that loan. Firstly, I was only allowed to spend it on rent, food, and utilities. No business expenses. Secondly, I had to pay it back with interest. I understood then and still do that these stipulations were for my benefit, and I am extremely grateful I had this available to me. I know many entrepreneurs do not have the same support.
Because my business had no cashflow and was brand new, all I could really do was the free marketing. Therefore, I answered questions on the internet, wrote blogs, joined LinkedIn and Facebook groups, and I went out networking. Between networking events and one on ones, I was doing about 80 hours per week networking. Two or three events per day with coffee shop meetings between was my strategy.
For years, I built my business solely based on networking. In my time, I analyzed what worked and what didn’t. I kept stats on every event I went to. I even had stats on different language I used in my follow up emails. Today, my business is successful because of the networking and the intention I put behind all of it.
What Happens Without Business Etiquette?
I’m keeping the negative stories to a minimum, but they’re occasionally very helpful in illustrating a point. In this case, this man did not use business etiquette, nor did he network with the same intention I did.
I was at an evening business networking event at a bar in 2014/2015. Everything was going just fine, and honestly the occasional bad experience rarely tarnishes an event for me. It’s either a good event or a learning experience, right?
I had met around ten new people when I approached a guy I’ll call Daniel. Daniel was a financial advisor. Like everyone else there, he was looking for connections to grow his business. We chatted briefly and I offered my card and asked for his. He said “I don’t carry cards anymore.”
Intrigued, I asked, “why?”
He replied, “I gave out over 500 of them and never got a single call or email.”
I was flabbergasted, but to be honest I had already decided I wasn’t going to follow up with Daniel either. I could have been 501 for him.
The main lesson here is “if you’ve handed out 500 cards and haven’t gotten 1 email or phone call you should (1) check to make sure your contact information is correct and if it is (2) reevaluate what you’re doing in your networking.”
It is very common to have 50-90% of people not follow up with you, but going 0 for 500 means the problem is on you.
My reason for not following up with him was simple: he was a financial advisor and he was promising he could get people a certain percentage return. I know that’s illegal and violates their license requirements. I have no interest in working with people who work unethically. That’s the other lesson here.
Conclusion
I’ve developed these networking etiquette guidelines over ten years of growing my business almost exclusively with networking. I have a lot of stories and a lot of lessons I’ve learned that could be very useful to you. Be sure to follow or check back often to improve your networking!
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