Greater Sandpoint Chamber: The value of networking

Networking is a vital activity that everyone in business needs to do. It doesn’t matter if you are a W-2 employee, an executive in a company, a small business owner or an entrepreneur. Everyone needs to network. It is often not what you know, but who you know that will help you in just about every situation. No one has achieved great things entirely on their own. The phrase “better together” is true.

Building a network is much more than collecting business cards or contact information. In order to build an effective network, you must develop relationships. When you meet someone new, try using the 24/7/30 method. 24 hours after meeting them, send an email or a note to say it was a pleasure to meet them. 7 days later, connect with them on the social media platform they appear to favor. 30 days later, reach out to them, remind them of how and where you met, and invite them to have coffee or lunch because you would like to learn more about what they do. You are not selling them anything. The purpose is to request to connect in person. The 24-7-30 rule is all about them. It's about learning about them, getting to know them a little bit, and building a connection with this new person that will hopefully be part of your network going forward.

The 24-7-30 rule is a great way to build your network, but your work doesn’t end there. The next step is to nurture your network. No one likes the person who only calls when they need something. Make it a habit to reach out to your connections periodically to simply check in with them. Intention is important here, so go into these conversations with the intent of finding out how they are doing. Be genuine. When you show that you care, it helps to build your relationship and creates a deeper connection. 

The connections in your network can be further organized into distinct categories. Some of your connections may fall into more than one category. Three categories you might consider using are information, support and referral.

Who in your network of connections has worked in the same industry as you? They could even be a competitor. Having connections within your industry can help you gain more knowledge and more information that can directly impact your business. Another great connection could be someone who has retired from the same industry. What a wealth of information they can be!

Support connections are sources of help and encouragement. They can include mentors, people you may have helped or mentored in your past, friends, colleagues, classmates, family members and former managers. These are people with whom you already have a close relationship. Your support network connections are those you know would be there for you as soon as they possibly could, should you need their help.

What many people think of when talking about networking is referrals. When completing a sale, many salespeople have been trained to ask, “Who do you know who might also be interested in purchasing this (item/service)?” Getting a referral from current/past customers is helpful, but there are other referral opportunities you won’t want to miss. Building your network with businesses or professions that complement yours is a powerful way to grow. For example, an owner of a floral shop might want to have connections with key businesses such as a wedding/event planner, a photographer, a hotel/resort manager, a caterer, a bakery, etc. 

Another side of your referral network are the businesses you have used yourself as a customer. When you have personally experienced the quality and standard of the work of another business, you can refer potential customers to them with confidence. The more referrals you send their way, the more referrals you are likely to get back from them. Referrals are a lot like karma: what goes around comes around. The more referrals you give, the more you get. 

No matter the type or size of the business, networking plays a vital role. Getting outside your “box” by attending local events, business luncheons, networking events and chamber activities are all great ways to increase your visibility, make new connections and deepen relationships with those you have already met.

The Sandpoint Chamber has some events coming up that provide opportunities to be visible. Wednesday, May 29, the WaFd Bank, 405 N. Second Ave. in Sandpoint, is hosting a Business After Hours from 5-7 p.m. This WaFd location recently completed a remodel so come check out its newly remodeled space.

The next Sandpoint Chamber’s monthly General Member Luncheon takes place from noon to 1 p.m. Thursday, June 13. Check the Events Calendar at www.SandpointChamber.org to reserve your seat.

Save the date for the Sandpoint Summer Sampler, 5-8 p.m. Thursday, June 27 in Farmin Park. Come taste small bites and sips from many of Sandpoint’s best food and beverage establishments. There will be live music too!

Planning ahead to July, be sure to save the date for the 10th annual Beerfest, noon to 5 p.m. Saturday, July 6 on the lawn by Trinity/Best Western Edgewater Resort, 58 Bridge St. (at the entrance to City Beach Park).

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Mickey Quinn is the executive director of the Greater Sandpoint Chamber of Commerce.