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Does networking really work? You be the judge.

Posted by Mark Paskell on Sat, Nov 15, 2008 @ 12:55 PM
  
  
  
  
  

Recently someone said to me I was crazy to spend so much time networking. So it got me thinking was he right? Well some may think I'm crazy (and he may be right) so I reviewed my results from the past two years and here is what I found.

Working as a design/build and replacement sales expert for a large Worcester based company, Francis Harvey and Sons, my results for late 2006-late 2007.

Two referral groups; Corridor Nine and BNI Shrewsbury Golden Triangle.

$1,030,000 in remodeling sales.

Type of work; 1 house, 3 kitchens, 2 Bathrooms, 1 house remodel and various small jobs. 

400 Hours worked between the two groups. (This includes meetings, one on ones and networking events.)

$2575.00 in business for every hour worked networking.

Commission Income; a lot

Fees and expenses for Networking groups and related activities; $1300.00

February, 2008; Left the Worcester company and started my own Coaching Business; The Contractor Coaching Partnership teaching contractors how to run a successful contracting business using best practices and systems.

Networking Groups; Corridor Nine Referral Group and Eastern Mass NARI (National Association of Remodeling Industry).

I have received 16 of my clients from referrals.

8 Remodeling Contractors

2 Landscaping Companies

2 Painting Contractors

1 Electrical Contractor

1 Excavation Contractor

2 professional trades

Fees and expenses for Networking related activities; $2300.00

All revenue for The Contractor Coaching Partnership has come from networking related referrals.

So you be the judge and ask yourself if my efforts networking were worth it?

One nice thing is when I worked at Francis Harvey, I had no competition on any of these jobs. I was referred, trusted and earned the business.

When I started the Contractor Coaching Partnership most people said it was a bad time to start a new business. But I wasn't concerned because I had faith in my definite purpose and knew that the work I put into networking would come to my aid. As a result I am fortunate to have a thriving Coaching business and I am grateful to my networking associates for referring me.

 If you or networkers you know want to benefit from Networking Coaching That Gets Results then call or contact me today and I will teach you how to obtain outstanding results for your business.

So please tell me (by responding to this post) if you think I am crazy to network or not, you be the judge.

Mark

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Comments

I believe in networking. Here's how I got to have Breakfast with the Mayor. 
 
Posted @ Saturday, November 15, 2008 3:54 PM by Jason Kallio
You know I'm a big believer in networking. I get a large % of my business from networking. Not only did I used to be a member of 5 structured networking groups, I also ran networking events with 100s of people in attendance. You could say that I networked for a living. Sorta... (I got paid to market events and businesses.)  
 
However, I am not a member of any structured networking groups now. I still network. I mostly network by helping my existing clients a bit above and beyond what I'm paid to do. This results in referrals. 
 
I believe that building a network of clients that refer you business is the best use of "networking time".  
 
After that, however, for many businesses, I believe that the best use of time is to "network online". I'm not suggesting doing that exclusively. Online relationships often lead to phone and face to face relationships. But, the web is where they should start. There are way more people online (searching, reading blogs and using social networking sites) than there are at any one networking event.  
 
But, I also think, if a small biz owner is going to network in structured groups, they should do everything they can to bring that network online. Imagine if everyone in NARI was blogging about you? Imagine if everyone at C9 networking group was connected to 1,000 contacts on LinkedIn that knew and trust them enough to ask them regularly for recommendations on who to work with? 
 
Posted @ Monday, November 17, 2008 8:09 AM by peter caputa
Yea. You're crazy, but that's beside the point. 
 
 
 
With so much diappointment and distrust in todays world everyone has become a skeptic. You can't trust what you see on the TV and many of us don't even take the time to meet our neighbors.  
 
 
 
Networking is a great way to meet not only your neighbors but many upstanding individuals throughout the community. Face to face as well as online networking are great ways to make contact and earn the trust of your peers. 
 
 
 
Who do you want to work for you? 
 
 
 
People you know, like and trust. 
 
 
 
You can't get that from a magazine ad. You have to get out there.
Posted @ Tuesday, November 18, 2008 11:14 AM by Kyle
Networking works best when (a) you engage in communities where people can use your services and (b) when you forget the 'take' and focus on the 'give'. 
This can seem counterintuitive when you are looking for new business, but the point is to think purely from the perspective of the person you are with -- don't worry if they can or are relevant prospects -- just work as hard as you can to help them out either with resources, references or your own referrals.  
The strongest effect occurs when, in response to your good will, they offer you some business, and you gently demure (you achieve this effect at the highest level when you are in a relevant group.organization but you actually really can't take anything from anyone else!) 
Then you have the foundation of a really powerful trust-based network; and you can expect a steady stream of referrals and new business. 
See Bob Littels's "Netweaving" materials for some insights into this process.
Posted @ Sunday, December 07, 2008 5:52 AM by Mark Buckshon
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