Last week at a meeting of one of my networking groups, a question was posed about what changes we've seen in networking as a result of the current economic slowdown. Many people in the room - all of whom were active 'networkers' - stressed the importance of networking in general, but particularly when the economy is slow. In a difficult economic climate, it's more important than ever to maintain your existing relationships and continue building new ones.
Others pointed out that those seeking to cut costs should avoid making the mistake of cutting their marketing budgets to the bone and eliminating or cutting back on networking and related expenses. History has shown that those who cut their marketing efforts - particularly where those efforts revolve around creating and maintaining relationships - are the ones who fail to survive the slowdown, or who are behind the curve when the economy picks up.
I have noticed some new faces at the events and activities I've attended over the past several months and am sure that it is, at least in part, due to the economic slowdown. Lawyers who may not have felt the need to market themselves or to network in the past have realized that the changing economy requires a change in habits. So for those who are new to networking or may just be a bit rusty, I offer these thoughts for effective networking:
First, know yourself
Before you can network or market yourself effectively, you must know what you're marketing. As a lawyer, YOU are the product. Know yourself. Who are you? What are your strengths and passions? What do you and your firm bring to the marketplace? How are you different?
Know your clients and potential clients
Who is your target? What is your best source of business? What do those people need? What is important to them? How can you help them?
Communicate effectively
Be ready to talk about yourself and your firm in a way that communicates value to your audience. Although you'll be talking about what you can do, you must speak about what your audience believes is important and how you can help them. Don't just do an information dump. Listen more than you speak, and when you do speak, be sure to speak in terms your audience will understand. Ask questions to draw the other person out.
Think first about what you can give, not what you will get
For some, networking is awkward because they see it as bragging or begging for business. But networking should be neither. Attend events and make contacts from a position of someone who can be of service to others and make connections that will benefit others, rather than with a mindset that you are looking for others to give you business.
Remember that the real networking happens outside the room
Networking is about building relationships, and relationships don't emerge overnight. They take time to develop. People do business with people with whom they are comfortable - people that they can trust. Those kinds of relationships aren't built through a five minute conversation and a quick exchage of business cards. Trust is built over time and by getting to know others. The real networking is done through the follow up after the initial meeting. Be proactive and set up one on one meetings for coffee or just to chat and learn more about those you meet at "networking" events. You might be surprised at where new business comes from and when.
Finally, be yourself and have fun!