The secret to networking

Everyone talks about how important networking is. Actually, unless you do it right, it’s not that important, other than garnering you a few more friends.

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Do you bring back truly good ideas from trade shows and tours? Or do you come back with vague concepts that might work but somehow are never implemented?

Not to worry. I’m willing to share my rules to successful networking.

Rule 1: Ask about retail ideas that have been tested.

One thing I’ve learned over the years is that the jazziest idea ever, from a retailer’s point of view, is the one being currently developed. Doesn’t matter what the idea is -- using auctions to sell overstock or a great training technique on how to handle angry customers -- if it hasn’t been used by the retailer you’re talking to for a couple of years, it’s just a great concept. It’s pretty much useless to you unless it’s an upgrade on a successful program you already have in place.

It’s not easy, but try to get your peer to talk about the sexy idea from two years ago. How did it work out? A flop, a roaring success? If you get the details of how the idea was used, you can learn from both strikeouts and homeruns. Even with the successes, I’d bet that there were tweaks made along the way to trim expense or boost results. Now, those kind of ideas can pay for the price of the event you are attending.

Rule 2: Show respect.

Even if you think the idea your peer is talking about is a crock, don’t write the guy off, and definitely don’t let it show on your face. Take the time to think about why he thinks it works for him. Ask a few questions to see if his program (say it’s bonus bucks) is used a little differently than what you are familiar with. Does he have proof that the program worked financially? Does he target a specific event or customer group? Even the silliest idea might have merit. And if it turns out to be as bad an idea as your first reaction told you it was, the next idea might be a goldmine. Make sure the guy still likes you enough to share that idea with you.

Rule 3: Target peers who are a step or two ahead.

Every retailer has business techniques that others can learn from. But to paraphrase George Orwell, some of us are more equal than others.

Try to find retailers whose sales and profit are the next level up from yours. They were where you are now not long ago, and they somehow figured out how to make it to the next level without filing bankruptcy. By the way, I’m not advocating blowing off anyone whose store is smaller than yours. Just make an added effort to seek out those who are where you realistically want be in five years.

Rule 4: Create a hit list.

Right after you make the hotel reservations for an industry event, your next task should be to write a list of problems you’d like to solve with networking. Years ago I knew a retail manager from St. Louis who would always show up at the spring tours with a list of one to three problems he wanted to fix. He started with people like me who know lots of people to see if I could steer him toward retailers he should talk to. Then I’d watch him work his way through each of those people over the next couple of days. He’d then move on to anyone else he could get to talk to him. Some items on his hit list would be mundane, like what kind of phone systems other garden centers had in place. Others were much more extensive, like a fall event program. He always went home with usable ideas.

There are a lot more rules I could add, like “don’t embrace every idea you hear,” but these four are the most important, I think.

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Happy hunting at your next industry event!

- Carol Miller

March 2008