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Advantages of Networking/Co-Operative Business Practices

Advantages of networking co-operative business practices

The most stabilising force behind any business I believe is what we call “Networking” or “Business Relationship Building”.  I prefer to use the words ‘business relationship marketing, word-of-mouth marketing, netweaving or relationship building’. The reason for this is that people around the world  tend to relate the word networking with either multi-level or networking marketing (MLM) programmes.  When I first started ‘networking the word networking meant interconnected computer systems.

We discover with time that both friends and supporters are necessary for not only our personal lives but in our business lives as well.  There are several reasons for this and different types of relationships too that need to be built. 

The making of money isn’t always the reason people do networking.

If you are currently in business you know that the going can get tough and it’s the community and relationships you build around you that can make the difference between keeping your doors open or closing them.  Another primary reason is the education you will receive and the guidance you will give in return.  Every person you meet has something to teach you. Likewise, you have something to teach them.

Firstly, it can be a good idea to get clarity on where you are in your business. Making a list of the peripheral people that help, edify, teach, refer, or otherwise help you to grow your business is a good first step. 

Who are the people who believe in you and are willing to tell you the truth, even when you may not want to hear it?  These are your business friends.  These people are a very important foundation for your business, especially if you are in small business. 

The most important thing in any business is your attitude and the extent of your daily communication skills.  This will show how you maintain your integrity and reputation. Consider all your business communications as a stepping stone to not only the person you are communicating with, and hopefully all the people they know as well. Referral is the easiest way to build a good and solid foundation for any business.  From this, repeat business is all you need to continue on.  It is far easier (and cheaper) to keep a client than look for a new one!

Nurture the opportunities that come your way by providing something of value.  It never hurts to be the first person to put something on the table. It builds trust in a world where trust is often challenged. 

Don’t turn away every opportunity that won’t make money because sometimes these opportunities build dynamic pathways to larger financial avenues.  As an example, consider the editor who began working with a fairly unknown author but had faith in his abilities. As it turned out, this author was a fountain of contacts within the media industry – to other well-known authors, and to additional businesses.  The work performed by the editor for free, for this one person, became the best advertising ever generated for her business. In turn, the relationship she built with the author became bonded for life through goodwill.

Let’s consider the possibilities for you to locate additional business relationships. 

What organisations do you belong to, discussion lists, open forums, breakfast/lunch networks etc? 

I’ve heard too many times from business owners that they do not have time to join groups and socialise.  Trust me; you don’t have the luxury not to, especially if you’re a small business. It’s not necessary…it is vital.

Another important business building tool is your business card. This is your shop window.  It may be the one thing that makes someone contact you. I am surprised at the numbers of people who either don’t have a business card or don’t have the proper information on them.  Your card must be clear, easy to read and give all your details for contact.  Add information of what you do and what the services are you offer too. Note that the font needs to be large enough for everyone to read, no matter their age!

I know many people think that having a mobile phone is enough to add into it quickly and easily.  I disagree that this is all that is necessary.  There are certain personality styles that need to have something in their hand.  Once added to the phone it can be easily forgotten.  On a card, it will get looked at if only to glance, but that can be enough to get the mind thinking. 

I do believe that business cards for small business owners need to have a current photo on it. This makes it easier for people to remember who we are which they are in their office or not likely to see us again.  Social media gives us the opportunity to join the dots too.

Another way to support your business is to find someone who you trust to give the same service and professionalism as yourself, who has a complimentary business.  You can then support each other in what we call co-operative business building.  This is very effective and time-saving.

If you haven’t already started to build your network, it’s time to locate the organisations in your industry and start making friends as well as ad hoc compatible networking groups. It will pay you back one hundredfold. Building relationships in business is an effect and a simple way to build your business if you know how.  So consider it as time well spent and get started today!

Do you want to learn more? Click here for other articles on NETWORKING.

Then, contact Jennie Gorman on 0414 278 344 and book into a one-on-one session, or her next Business Relationship Building workshop.


Ready to take yourself and your business to the next level? Let me know!
I’m happy to help you get started. I’m just a phone call away, CALL +61 414-278-344

 

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How Would You Feel if You Were Handed $2000 in a Workshop?

hitesh mohnal
hitesh mohnal

Cash is King

Reviewed By Tan-Ja

If you were given $2000 cold hard cash during a seminar, how would you feel?

Hitesh Mohnal handed over $2000 to participants of his most recent seminar at the Plugged-In Series 101 on Thursday. Why? He wanted to let people identify their feelings when they had a large amount of money in their hands. They then had to work out why they felt the way they did. It was a great introduction and had people engaged from the beginning.

During his seminar, Hitesh injected practical advice, knowledgeable information and a great sense of humour.

Hitesh covered a range of topics around cash flow and business dollars during his seminar presentation, and participants were able to walk away with strategies they would normally pay hundreds of dollars for.

 

Takeaway Tips Provided by Hitesh Mohanlal included:

 

1. Look At Your Figures MORE Than Once a Year – Which means look at your figures once a month, not just at tax time with your accountant once a year. Not only look at your figures, but analyse them as well. Hitesh gave some brilliant strategies to use when conducting an analysis through very informative handouts.

2. Consider Looking at Your Figures With an External Person – This could be a bookkeeping service or an accountant. Whoever it is, it will be an expert who can help you decipher your figures.

3. Concentrate on the Profit – When looking at cash balances, do so daily, and look at your figures weekly. All your figures will tell you a story.

4. Be Mentally Aware of Your Success Drivers – Hitesh took us through a very good exercise where we identified our success drivers. We wrote them down and in the Plugged-In Series, 102, Hitesh will take us through an activity showing which is the best for making money.

5. Be a Business, Not a Charity – Remember that you set yourself up to be a business. Which means you set out to make money, not give it away. At some point, you will make a financial contribution to humanity, but that will be a conscious decision. Don’t be a charity Hitesh reminded us why we were in business in the first place.

Hitesh presented the seminar information in an easy to follow format while keeping the audience engaged. His presentation was interactive and Hitesh’s follow up workshop in a fortnight is designed to be even more so.

On Thursday, 21st May, 2015, Hitesh will present the workshop,

“Understanding the Importance of Strategic Direction & Planning to Unlock Massive Profit Potential”

In his powerful presentation, Hitesh will show you:

  • How to identify your WHY?
  • How to run a SWOT (Strengths, Weaknesses, Opportunities & Threats) Analysis – it is easy when you know how.
  • How to find out which of the 12 Success Drivers you are and which is best for making money.
  • How to Find the Niche Market that works for you.
  • How to identify the blockages that are holding you back.
  • How to complete your own Business Strategy Questionnaire which you can take away and use in your own business

Hitesh Mohanlal is a Chartered Accountant and Australia’s No.1 Business Growth Strategist. He has worked with over 3,500 businesses in the last 15 years to help them increase their PROFIT by up to 2000%.

There are only a limited number of places in the workshop on Thursday 21 May, so book early to avoid disappointment. The small investment of $137 is guaranteed to help you unlock your profit potential and show you how much more you can potentially earn once you understand your money.

BOOK HERE, or to find out more, contact Jennie Gorman on 0414 278 344.

Join the Plugged-In Series, Save an Hour a Day and Earn an Extra $13,000

“Plugged-In Series Review” By Tan-Ja

Over the last week, I have been working to get my BAS statement ready for the tax office and wishing I had attended the Plugged-In Series 102 session months ago! Anyone in business would completely understand why you need to have systems in place, especially at the end of each quarter. It saves you time, money and enables you to sleep at night.

It’s all about IF you do it…. If you DON’T do it, nothing will change. – Tamara Simon

Tamara Simon from Business Scene Investigation presented a practical workshop on ‘Systems’ as part of the ongoing Plugged-In Series 102. By leading us through a series of practical scenarios, we were able to consolidate and apply the knowledge about Systems which had been presented in the monthly Plugged-In Series 101.

Tamara was able to show us systems to put into place which would ultimately save us an hour a day. Even if you are working on a bottom rate of $50 an hour, that’s an extra $250 a week you could potentially be earning. Over a year, that equates to an extra $13,000 a year. Who wouldn’t want that?

These 5 Practical Workshop Tips which Tamara shared with us, can possibly save you an hour a day – leaving you to do what you love!

 

Use These 5 Workshop Tips to Save an Hour Each Day:

1. Brain Dump – Your mind finds it difficult to focus if you have too much going on in it. Each morning, spend some time writing down anything that comes to mind.

These could be things that you have to do for the day, places to go, people to see or thoughts about changing your logo. Tamara recommends having a notebook by your bed so that when you wake up first thing in the morning, you can do a quick ‘brain dump’ and get out of bed clear and focused for the day.

2. Set Up Structured Filing Systems – Save time by having all your filing systems structured. If you are more comfortable with the ‘hard copy’ filing system and have a filing cabinet to fill, Tamara recommends you sort and colour code your files for ease of access.

If you have an electronic filing system, Tamara suggests you structure your folders under categories and keep a master folder separate to your working folders.

By setting up a good filing system, you will save yourself a lot of time when you search for something. While a 3 or 4 minute search doesn’t seem like much, over the course of the day or week, it can actually add up to precious hours that you need to dedicate to your job.

3. Automate and Streamline – Anything that you can do to save you time, do it. Set up templates, set up systems to sort your emails and implement any other systems to help your business run smoothly.

4. Use Checklists – Make checklists simple so that you and your staff will use them. Tamara took us through a process to build a meeting/event checklist. By having this checklist, you are able to stay focused and organised – ready for the meeting without stress.

5. Stop Changing Your Mind – I myself find this one a very common one with clients. Many get an idea, implement it for a little while, then change their mind and begin with a new idea. Nothing gets finished and staff or contractors don’t know where they stand.

Tamara says, that when you get an idea for improvement, ask yourself, “Is it costing me money?” if the answer is yes, then you need to take a look at it and work out where and why.

Throughout the Plugged-In 101 and 102 series on Systems, Tamara shared a wealth of knowledge and showed us how she personally set up her own accounts folder. It was a very real and honest workshop.

You cannot have an all or nothing approach to systems. Their needs to be different ways to get the outcome by choosing a system that works for everyone.

Joining the Plugged-In Series, developed by Jennie Gorman is the most productive thing I have done. I get to network with like minded people, and I learn so much about different facets of business. By attending 101 (a seminar), then 102 (a practical workshop) on the same topic a fortnight later, I am extending my knowledge to a deeper level each time.

 

Want to Know More About the Plugged-In Series?

On Thursday, Hitesh Hitesh Mohanlal (Chartered Accountant & Australia’s No.1 Business Growth Strategist)  is going to reveal…

  • Understanding your figures – what do they mean?
  • How to conduct a detailed review of your business figures – saving you thousands of $$’s
  • Know the difference between cash and profit – most business owners don’t know this.
  • Understand the power of leverage and income ceilings
  • Why you need to break the rules and ignore the $ per hour
  • Who are your ideal customers for cash and profit.

I encourage anyone who is in business, whether they are just beginning or have been in business for years, to attend the Plugged-In Series.

jennie gormanFor more information, contact Jennie Gorman personally on 0414 278 344 for to discuss your options and which Plugged In Series (Seminar or Workshop) will suit you best.

Or book now as places are limited and sessions are filling fast.

 

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