Creating Networking Buckets Inside your Communities

In business, success is often measured by numbers and revenue. However, many people fail to realize that building quality relationships is the key to generating revenue.

This blog will discuss the importance of networking within your community and how to use networking skills to categorize people into different sub-circles. We will also emphasize the importance of building relationships authentically without solely focusing on making a sale and seeking to be genuine first.

Networking can be seen as an old-fashioned concept, but it remains an essential tool in the modern world of sales and marketing. Building a community through events or other networking opportunities allows people to get to know each other better, share ideas and opinions, and provide mutual support.

By building a strong community, it is possible to gain new business opportunities and create revenue through referrals and recommendations. At the very least, this can be an opportunity for you to be a community advocate by strengthening the relationships within that community, thus potentially providing you with opportunities to get more involved and noticed by community managers.

Stop Thinking about Money:

Building authentic relationships is crucial for a strong network. Instead of solely focusing on closing deals, prioritize genuine connections without the pressure of making sales. A mindset of enjoying the process of building relationships should be the top priority for networking. Revenue opportunities will come naturally with this approach, but there are no shortcuts.

Choosing to play the long game is essential. Leadership must also take note of this approach, as a focus on quick wins in networking will not lead to a successful ROI for themselves or their representatives.

Categorize your Buckets:

Organizing people within your network is essential for developing genuine relationships. There are various sub-circles, such as mentors, mentees, peers, and potential prospects, that require different levels of attention and nurturing. It's important to keep track of the time spent on each group, which we will explore in more depth in this blog.

It's worth noting that these categories may change over time. The people you interact with today could become colleagues or potential prospects in the future. Managing these moving pieces is akin to navigating a busy highway, and recalibration is necessary early and often.

Prioritize Relationships:

When building relationships, it's important to prioritize groups based on your goals and objectives. For instance, if you're seeking to gain knowledge from others, focus on connecting with mentors and peers who can provide valuable insights and advice.

On the other hand, if your aim is to expand your business, prioritize building relationships with potential prospects and decision-makers. In some cases, these goals may overlap, and you may find yourself collaborating with individuals from different groups. Additionally, nurturing relationships with peers can be beneficial for career opportunities, as it can give you an advantage when searching for your next job.

Be Intentional When Attending Events:

Whether it's a networking event, a conference, or a trade show, approach each event with the goal of meeting new people and learning from others. While it's important to be strategic about the events you attend, don't be afraid to step outside of your comfort zone and attend events in industries or fields that you're less familiar with.

By attending events with the intention of building relationships, you'll be able to expand your network and gain valuable insights and knowledge that can help you grow your business or advance your career.

Takeaway

Networking is a crucial aspect of business that should never be ignored. Creating a robust community can open up new doors for revenue through referrals and recommendations. It is vital to categorize individuals within your network and prioritize building genuine relationships rather than just focusing on sales. By following this approach, you can establish a thriving business that is both profitable and fulfilling.