Word gets around

Business development was once disliked by many technically minded people. Many regard it as little better than sales and something best avoided.

However, networking has become a very important part of the skill set required by all professionals. Gone are the days when a firm can rely on a few well-connected partners or directors to provide all the necessary work. Nowadays, amassing clients is the responsibility of everybody not just a few.

Those halcyon pre-financial crisis days when networking was a synonym for drinking are over. Now I am more likely to be seen looking at the bottom of a cup of coffee than the bottom of a beer glass. As the pressure to bring in work increases and marketing budgets decrease, we all need to be a little cleverer in how we go about networking and how we use our budgets. So, what can you do?

The first thing to remember is that people do business with people that they like. If you don't get on with someone, it is highly unlikely that they will recommend you. Indeed, if a client dislikes you, it is far more likely that they will blame you if something goes wrong.

You should also consider who you want in your network. I try to have as broad a range of people as possible. You never know who could be useful or have a skill set that you need. I have several contacts in most areas that I will recommend. Whether one of my clients requires offshore banking arrangements, image consulting or holistic yoga, I know immediately to whom I will refer them.

Therefore, don't automatically dismiss anyone as not worth the bother. You never know how important or even exclusive their skills may be or how well connected they are. Some of the most professional and socially rewarding people I have met surprised me.

Mutual respect

Networking is not a one-way street. Always think about what you can do for other people and not just what they can do for you. We have all been stuck at receptions where someone is trying to pitch to us and seems completely uninterested in what we think or do.

Dale Carnegie, author of How to Win Friends and Influence People, once said that you can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you. I always try to remember that.

Think quality and variety rather than quantity. You can only keep so many reciprocal relationships going. Be friends with everyone but keep a small select group of contacts with whom you regularly communicate. Don't keep a football score of referrals but at the same time don't allow people to take advantage of you.

I mentally divide people into categories, such as influencers (say, journalists or leading lights), referrers (those with whom I have a reciprocal relationship), potentials (those with whom I would like a closer business relationship) and, of course, people whose company I enjoy.

You need to develop relationships over a period before they bear fruit. So try to meet up every couple of months or so. It is also very easy to lose touch with people, so set yourself a target ?of reconnecting with perhaps one person a fortnight.

Most importantly, always network ?with integrity, behave well, never ?criticise rivals and always try to help other people. The town or city in which you work is a surprisingly small place and word does travel. If you give ?the impression of being a negative person, that reputation will follow ?you to your detriment.

The ultimate success of networking is in what happens after the event as much as during. When you get to work the following day, send a friendly email, or a LinkedIn request and arrange a follow-up coffee. Then stay in regular contact.

Geraint Jones is a private client partner at Reeves

He writes the regular in-practice article on doing business for Private Client Adviser

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