Question: How can networking help a business grow?
Answer: In the 1880s a number of firms used advertising to become national brands. These included Ivory Soap, Quaker Oats and Campbell Soup. Social networking tools can accomplish the same thing for firms today. Social networking technology levels the playing field and allows smaller firms to reach both national and international markets with their products and services. Obviously, a firm has to have a good product or service to complement their networking efforts.
Q: How can an entrepreneur get started in networking?
A: First, you need to set up a presence on social networking sites such as Facebook, Twitter, Linked In, Google+. Remember, privacy is very important for personal sites but not for business sites. You want people to know all about you. You will also want a good website to supplement your social networking efforts. You also have to remember to visit these sites and post regularly. You have to generate interest and maintain it, and the only way to do that is to keep your sites active. Don’t set up more sites than you can effectively manage.
Q: What type of social/business clubs are out there, and should a business person join one?
A: This is a difficult issue because people join clubs for a variety of reasons such as joining a golf club because you like to play golf or a social club for status reasons. However, the number of organizations that may be directly related to the goals of your business are probably far fewer. Some types of business such as retail operations, restaurants and insurance befit from any exposure that is not negative. Other types of businesses may want to think more carefully about the time commitment-to-benefit ratio when deciding to join a social club or business-focused organization.
Q: What are some ways to network on a budget?
A: Well, all business activities should be on a budget, but one thing that business owners and managers need to be disabused of is that social networking is free. In many cases, somebody who is social network-savvy needs to be hired. Using social networks effectively requires lots of time if positive results are to be achieved. However, you can start small on the hardware side. Don’t let your new social network expert talk you into buying more hardware or software than you need to achieve your goals. You can always buy more later if the early results warrant it.
Q: What is the time commitment involved?
A: In the beginning the time commitment will be a major one. If you want to keep costs down, you will be doing much of the work yourself. If you are currently working 50 hours per week, you may want to allocate another 10 for the first few months. If you are not willing to put in the effort, you may want to use more conventional and expensive tools to grow your business.
Q: Is being a part of business group/network worth it?
A: Well, there is no guarantee, but the growth of these groups and networks certainly suggests that most businesses feel that the return is worth the effort.
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Interviewed by Kristen Consillio
