Expand Your Business Network Quickly

The New York Times wrote about it, as did Entreprenuer.com and Business Week. They said the events tended to be "fun, exciting and an effective way to make a lot of initial connections." What are they talking about? Speed networking. Similar to speed dating in concept, speed networking is a whole new way of making business connections instead of love connections.

The concept behind speed networking is to combine conventional business networking with the round-robin quickie style found in speed dating all with the intent to develop and build business relationships. As speednetworking.com explains it, "Think speed dating but for business people who want to partner, learn, buy, sell and mingle."

The way speed networking works is that a company will arrange a speed networking event - day or evening -- where business professionals from a wide range of industries will schmingle (that's schmooze and mingle) in order to make contacts for future business deals. The participants may come from any size organization - small to large - and may work in most any field from sales to marketing to accounting to business owner.

Just like with speed dating, speed networking connects people by having one group sit while another group moves, at regular intervals, usually every ten minutes or so. The idea is not to sell your product or service, but to introduce yourself and to explore what the participants may have to offer each other. Of course, one meeting won't change your need to continue with traditional networking. Business has always been about continuous networking and the development of relationships that ultimately could turn into profitable partnerships.

However, if you think speed networking might be just the thing your career or business needs, you might want to take these tips from business networking expert, Dr. Ivan Misner, sometimes known as the father of modern networking. He recommends these four steps to speed networking success:

Have the End in Mind. You should view a speed networking event as a way to develop relationships with like-minded business professionals not just for finding that one big deal.

Make it a Mini-Interview. Don't just focus on what you can get look at what you can offer your new contacts.

Take Notes. Make sure to keep track of important information - on a note pad or back of a business card -- such as their needs and interests, so you know what they want, too.

Follow Up. Follow up afterwards is critical; otherwise, the meeting was just a waste of your time.

Keep in mind that speed networking is not meant as your chance to wow potential new customers with your great product or service. This is not a sales call. It is an opportunity to find mutual business interests and opportunities.

And while every contact may not wind up being a new client, they may be able to refer you to someone else or you may find another benefit for this new business relationship. The idea is to take advantage of a brief amount of time to network with a large group of business professionals.