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My Friend: Eula M. Guest

eula-m-guest

Strategic Business Networking

Have you ever gone to a networking event and then wondered what were you doing there and then got mad at yourself because you spent time, energy and money to get there?  Many of us have done that before we started to really understand who our target market really was.  Who was our customer base?  Where are our customers coming from, and how we can reach more customers?

I’ve found over the life of my business that what I had in my business plan for target customers and what my target market really was were like night and day.  We learned by trial and error.  It took beating our heads against the walls and failing for a while before we got it right.  Before you plan to go to that next event because it sounds interesting or Daymond John is appearing and you just have to meet him, which is not wrong if that is your goal,  ask yourself if this is the right event for you to be spending time, energy and money to go to.  Will it be worth your while? No event that you go to even industry events will always produce a sale.  Why are you going?  What is the bottom line for going?  Is this event for you to spend time, energy and money to go to?

Here are tips to evaluate this process:

v  This is an industry event for my target market.  If you are a wedding cake baker and you want to gain more clients, then the Bridal Expo and other Bridal events is the place to be. It makes perfect sense as there will be 100’s of brides there.

v  Try to review the guest list online.  Are there people who are going to be at this event with whom I can build relationships and future sales?

v  A business connection told me about this event.  The event may have been good for that business connection, but will it be good for you?  Look at the industry your business connection is in and see if that event will marry with what you do.  Also ask the business connections some key questions.  Why did they think that event was good?  Did they make any lasting connections after the event?  Did they make a sale, partnerships, and referrals from the connections after the sale? If they can say yes, then you should at least research the event a little more by asking the business connections if anyone else was there that you both know, and asking that person those same questions to see how they felt.  Your business connection might have just liked the food.

v  Last but not least, no event is guaranteed to make sales. Some events may be for start ups, and the start up may not be ready for your products or services because they just don’t have the revenue.

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Comments

  1. Very nice piece of work here LadyRomp. I’d often time be a victim of this scenario until I’d to advice myself. Well done

  2. Thank you so much for your comments! Sorry it has taken me so long to respond.

    Kim

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