Many entrepreneurs ask me what is Business Networking? Does it really work? When I tell entrepreneurs that business networking is all about developing professional and personal networks, they nod their heads but do not understand the true meaning.
During my engineering days, I used to stay in a hostel. Our hostelites were very closely bonded with each other. We used to share our bikes, our rooms, our books with each other.
Now as grownups we have cars, apartments, etc. But can we share then with any strangers? No. NEVER.
The reason is we do not trust strangers and will not share our treasured possessions with them. If anyone wants these things from us then they have to develop trust and establish relationships with us.
For an entrepreneur, one of the most treasured possession is their esteemed clients. Are they going to share their referrals with anyone who asks for it? Of Course, NO!!!
When you give a referral, you are actually risking your own reputation and relationship with your clients or acquaintances. A bad referral can ruin your relationship and a good referral can enhance your relationship. Hence you are very careful while sharing references.
Many entrepreneurs join a referral organization like Meudyojak which has multiple business networking groups in Mumbai and Pune. Whenever they are new in the group most of the entrepreneurs expect that they should get the business immediately. They expect their chapter members to give referrals of their biggest customers.
It is very important here to understand the metaphor explained above. For getting the choicest referrals from their chapter members it is very important to develop trust and establish relationships. We at Meudyojak which is one of the best business networking groups in Mumbai and Pune, develop trust by doing 121s and understanding ways to help each other and grow together. It requires time and more important consistent efforts to develop relationships with other entrepreneurs.
Once relationships are established you will not only know which contacts does your fellow member has but also get the required referrals for yourself. The conversion rates of these referrals are high as they have been shared after TRUST is established.
There are various ways of how you can develop your credibility with your chapter members. I will be telling you about it soon.
For more details visit Meudyojak
By
Swapnil Dalal
CEO
Meudyojak