Networking In Multiple Businesses
Synergy
Obviously, the more similar your
businesses are to each other, the easier it is to network for both.
When they don't seem to have any natural connection, you're going to
have to get more creative. Let me give you some examples.
Let's say you sell health and nutrition
products and also own a day spa. These are easy to network for. A
client for one is very likely to be a client for the other. So when
you are training your network to look for referrals, it's easy. They
are looking for exactly the same thing for both.
How about owning a networking coaching
business and a sign store? They both have something to do with
marketing, but it's not quite as obvious what message to send out.
This is where you have to look at your ideal clients and find
connections. In this example, non-profits need signs and they need to
network for members and donors. So the marketing director of a
non-profit could be a good referral for either business, and you can
send that message out to your network.
But what if they really don't seem to
have a connection? I have a friend who sells nutrition products and
offers voice-over services. Two completely different industries. On
the surface, it seems like his clients have nothing in common with
each other. It's up to the business owner to find (or create) some
connection. For example, consumers are increasingly doing their
research on-line. Doctors have web sites, and potential patients
often check them out before calling to schedule an appointment. My
friend has a very soothing, confidence-inspiring voice. He could
market his voice to doctors to provide a reassuring on-line "voice"
for the practice. And, oh by the way, medical professionals just
happen to be ideal referrals for his nutrition products. But every
nutritional supplement seller wants to get face time with doctors.
And they often turn them away. Voice-over could be a way to build
confidence and a relationship that could lead to a solid client
for the other business.
Creativity is the name of the game.
Time
We all have a limited time to network.
(No, even I can't network 24/7.) So how do you allocate time to
network for each business? Even if you have drawn good parallels
between them, there are still some events that are better for one or
the other. I have a couple of suggestions for time allocation and how
to avoid some common mistakes.
Look at your networking budget, both
time and money. Decide how much to allocate to each business and
stick to it. It's very easy to concentrate on one to the expense of
the other. Don't do it. Spend at least some time a month networking
for each. It's okay if one gets 1/4 time and the other gets 3/4. You
don't have to spend equal time on each. But watch yourself. If one
seems to be taking over, consciously schedule some time for the
other.
What about the message you send? Should
you talk about one or both at any particular event? I suggest you
represent one at each event. Look at the events you frequent.
Probably some venues are better for one and others are better for the
other. Choose which to represent accordingly. If an event allows you
to give your elevator pitch, definitely stick to one at a time. I've
seen people try to squeeze multiple businesses into the same 30
second pitch. It isn't effective. Trust me.
What about one on one meetings? Use
common sense. If the person you are meeting with is obviously better
for one than the other, present yourself accordingly. Use the
connections you have built between your businesses to try to ask for
referrals that will help both. But until you build a solid
relationship with a new contact, don't ask them to keep their ears
open for too many things. The result will be that you look difficult
to refer, and you won't be referred at all.
Networking for multiple businesses is
certainly possible. It takes more creativity and focus than just
doing it for one. But the benefits of having multiple income streams
can certainly offset the increased work.
Oh yeah, having a good networking coach
in your corner can help a lot. I know a really good one if you'd like
to explore the possibilities.
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