With the collapse of Carillion leaving thousands of people feeling vulnerable and a large number of contracted SME at risk of none payment for work completed. We have to learn the lesson if you’re the end of the food chain you can get hung out to dry as you wait up to 120days for payment. Firstly we need to review the payment terms and penalties for client’s non-payment of invoices as cash flow the life line of any business. The entrepreneurs the innovators the job creatures and work force communities in Cities and Towns need to be supported no different than the banks who in a time of crisis’s survived the financial crash of 2007/8 with government intervention of cash.
Business owners must have confidence to invest in apprentice training, staff development and to invest capital for growth as part of a strategic business plan.
As a greater number of SMEs come to the markets place with a highly competitive tendering procurement system, businesses must take a more pragmatical approach to safe guard and protect their business from boom and bust model of uncertainty .
Has been recognised for many years in the UK for being a cost effective way in promoting businesses whilst at the same time meeting likeminded business owners you can identify with.
Selecting the networking group that fits your business and most important finding a networking group that you feel is comfortable friendly and socially enjoyable.
The key to getting the best out of networking is by attending on a regular bases over a twelve month period, present yourself to the room with confidence building up business relationships with people you “KNOW LIKE and TRUST” does not happen overnight.
Most networking groups allow you to visit on two or three occasions before you make that decision to join and commitment to attending agreeing to abide to a code of conduct and rules of business etiquette clearly define by the group.
Professionally run networking groups have structured scheduled events allowing time for all attendees both members and invited guests to present their business to the room normally allowing a 60seconds slot.
Networking gives a great platform for individual entrepreneurs to develop presentation skills, learn how to start that initial conversation with a potential client. Who do you know who would be happy to make a referral to your business recommending to family friends and their existing clients on your behalf, that’s the POWER of networking extending your sale force.
By being a part of a networking forum you have the opportunity to mix business and pleasure making new friendships, especially those entrepreneur sole traders or business people operating from a home, networking is the way forward.
One of the main advantages to networking is a way of boosting your confidence sharing your experiences with others helps to build that TRUST.
Sometime in business we all experience that feeling of isolation, struggling in maintaining that “FEEL GOOD FACTOR” which is so crucial if you are to keep motivated and inspired.
TOP TEN TIPS
(1) Book on via website or Eventbrite
(2) Arrive 15 -20 minutes early
(3) Take plenty of business cards.
(4) Prepare a 60sec introduction
(5) Build business relationship 1-2-1s
(6) Share your passions or interests
(7) Don’t hijack the conversation
(8) Ditch the sales pitch
(9) Ask for business cards
(10) Smile Relax and be yourself
This blog was produced by Tony Moran, Co-Director of The Business Executive Club who meets every month at Denton Golf Club. Their ethos is Excellence through Experience. If you would like to find out more or attend one of the network lunches visit www.bexc.co.uk