Russ Dalbey's Blog

A certain cell phone company is currently spending lots of money so you know that “it’s the network” that makes the critical difference. And I agree . . . they’re absolutely right!

But I’m referring to your business network, not the wireless provider you use. Every entrepreneur should understand the importance of networking and building mutually beneficial relationships.

When developing your network, make sure that you are meeting a wide range of individuals with different interests and talents. Even if you can’t figure out how you will be beneficial to each other at the present time, you never know what the future will bring. But one thing is certain – you will never get the benefit of your relationship if too much time goes by without contact.

Like a friendship, a business relationship will end without regular interaction and some effort to continue it.

A great way to maintain goodwill between business interactions is to show your friend that you remember them as a person. Sending an email to wish your contact a happy birthday will go a long way towards developing a good relationship. If you don’t know everybody’s birthday, you could send holiday wishes for any neutral holiday such as Memorial Day or Independence Day. Consider sending messages on a religious holiday carefully – make sure you don’t offend your recipient. Email well wishes on a neutral holiday instead, which will also make you stand out by being original.

Another great way to keep in touch is to send articles that you find interesting. It’s easy and free to do now with email (but don’t overdo it – once a week at the most!). If you know the topics that your contact is interested in and you come across something relevant, forward the article along. Make sure it’s legitimate information though – accidentally forwarding Internet rumors or “modern day myths” won’t help your image as a legitimate businessperson at all. You can easily research to see if the information you’ve come across is recognized as bogus at snopes.com.

Another thing I like to do after meeting someone new is to write down where I met them on the back of their business card for future reference. The more personal information you can remember about the people in your network, the more you can develop positive business relationships.

Keep in mind that when building or maintaining a referral network for your business, the measures you take to keep communicating with these people might not pay off immediately. Don’t take this to mean that you’ve hit a dead-end or wasted your time establishing these contacts – you will just need to continue to foster these relationships to see them pay off. While follow-up is important in all advertising campaigns, it is especially critical when developing referrals.

Remember, no businessperson is an island – having contacts that know of you and respect you as a person is always an advantage. Putting a little effort into maintaining a healthy network can make a huge difference in your business’s bottom line.

Warmly,

Russ
Founder of Winning in the Cash Flow Business
The Dalbey Education Institute

Founder of Winning in the Cash Flow Business