Meet the RIGHT People

Effective networking is not about meeting a lot of people. It’s about meeting with the right people for the right reason at the right time. It’s not what you know, or even who you know—it’s how well you know them and how well they know you that really counts when you are building a powerful network. It’s about turning contacts into connections.

In this context a contact is someone you know, but with whom you haven’t yet fully established a strong relationship. A connection is someone who knows you, likes you and trusts you, because you have taken the time to establish credibility with them.

There is some value in having a broad network of contacts—the wider and more diverse your network, the more chance you give for serendipity to work.

There is a lot more value in having a deep network of connections. What do I mean by this? When you need the help of others to build your business, you need to have already done the groundwork of strengthening your relationships with your connections, well in advance of asking for a referral. Because it takes time and effort to build strong relationships, you need to focus on the right people.

So, at networking events, who are the right people to meet? There are two types: those serving your preferred clients, and those who have the potential to help you meet your business goals. We will stick with the former for the rest of this article.

You might be wondering, “Aren’t those serving my preferred clients likely to be my competitors?” Not necessarily. For example, in my case, those serving my preferred clients (life science start-up companies—see the full spec) include:

• Technology transfer officers—most start-ups originating in a university need to work with their TTO
• Contract research organisations—a lot of life science start-ups will outsource the actual doing of their clinical trials
• Intellectual property lawyers—IP management is a crucial skill required by most science-based start-ups
• Accountants—many early stage companies won’t have a full-time finance director
• Recruitment consultants—if they don’t have any staff, they may be looking to hire some
• Landlords of office and laboratory facilities
• Domain experts and consultants, including regulatory consultants, scientific advisors, health economists, bio-informatics experts, PK/PD modellers
• Etc.

These people are well-placed to refer me to their clients facing strategy issues. Conversely, of course, I can refer them to my clients with problems they can solve. There’s a natural synergy between us that can be the basis for forming deeper relationships.

Talk to the clients you have and ask them questions like:

• “Who else solves your daily problems?”
• “Who do you allow in the door?”
• “What companies do you call on when you need [this product]?”
• “Whom do you trust when it comes to helping you with [that service]?”

When you are networking, focus on meeting these people. They will likely already have an address book full of your preferred clients. These are the right people for you, and you are likely one of the right people for them.

Action this week! Identify the professions or trades (other than your own) who serve your preferred client market. And start making those connections.

This article is similar to an educational talk I gave at a BNI Premier networking breakfast. It is based on material in The 29% Solution by Ivan Misner.