Networking Tips for Small Businesses

In the arena of small business marketing, the most important networking isn't connecting the hardware and software to communicate with others. Small business person to person networking is critical to success of the business. According to the Small Business Administration (SBA), thirty-three percent of new establishments do not survive the first two years of business. Only thirty-one percent remain in business beyond the seven year mark. The difference in the two thirty percent statistics may be contributed to the success or failure of the small business networking. Successful networking by a small business can result in business opportunity. Here are a few tips for networking and small business marketing I have learned over the years as a Project Manager for a small business.

Small Business Marketing and Networking Tip #1: Find a Mentor

Successful large businesses in the same field as your form, or other small businesses with well established client structures are excellent models for studying how to network your business or what avenues to pursue. As an early step in small business marketing, establish contacts with these businesses and arrange to meet with their marketing director. Breaking the ice may be tough in small business networking but finding common ground, or common acquaintances will make it easier. Don't be afraid to ask for a follow up meeting, or suggest a project you might contribute to. Follow up on any information requested. First impressions of the small business make a difference in continued relations. Established companies will not go out of their way to help a fellow business relation who does not meet deadlines or respond in a timely manner to questions asked.

Small Business Marketing and Networking Tip #2: Know Who You Know

Each of us has connections through every day relationships. Get to know the people in your daily events. Small business networking opportunities may present themselves at your son's football game or daughter's class open house. Always have business cards with you in order to provide your contact information. As you meet individuals who may be able to connect with your small business needs, record their information also recording where you met them. Your next encounter in the same location will present the opportunity to have researched more about their firm and possible opportunities.

Small Business Marketing and Networking Tip #3: Check Out the Federal Market

Federal Government agencies advertise projects for bid on the Federal Business Opportunities website . Small business networking opportunities exist at Industry events for upcoming projects, site visits on local work sites, and by adding your business name to the interested parties list on projects in your line of work. Small Businesses should be registered in the Central Contractor Registry (CCR) and should have a Dun and Bradstreet number. You will need to accomplish these in order to do business with the Federal Government. Do key word searches at FedBizOps to determine work in your area of specialty in close vicinity. Begin your small business networking by adding your name as an interested party. If you believe you can accomplish some portion of the work advertised, contact anyone on the interested party list who may be bidding the job to determine if they would consider subcontracting a portion of the work. Your networking opportunity for the project does not end with the online sign up. Watch for an announcement on a meeting at the site location. Attending events and meeting other companies face to face are useful small business networking opportunities. Being able to associate a person with a company name increases the likelihood of being contacted for further discussions.

Small business networking is an important part of marketing. Making continual connections with other businesses and possible clients improves your chance of being in the surviving thirty percent.

SOURCE:

SBA On Line

Personal Experience