Independent Bank proudly partners with the Small Business Council of the Greater Memphis Chamber to bring you the “Lunch in the Know” series. We have been delighted by the interest and engagement that the series has received during this challenging season. And while we cannot wait to be back in person, we are so thankful to have had the chance to “see” you all virtually!
At our recent meeting, Jana Cardona, who serves as a Certified Coach for Strengths Finders with Designed for Success, provided wonderful insights meant to bolster our networking strategies and to enhance our businesses’ overall success. Below are Independent Bank’s Top Takeaways:
Rethink What Works
Many assume that to be an effective networker, you need to sign up for every event, bombard any and everybody with your business cards, and keep in contact with every person you encounter. As Jana illustrated, we have to rethink this approach. Networking is not so much about quantity as it is about quality. Ultimately, our objective is to establish relationships, cultivate connections, put ourselves and our services at the disposal of our peers, and build a network of strategic partners whose aims resemble our own.
Target Your Marketing Efforts
When envisioning your client base, be careful not to overgeneralize. Much as we might wish this were the case, our ideal customer cannot be “everybody.” You can infer a potential customer’s wants or needs by taking note of their emotions and keeping an eye out for specific trigger statements: What plans do they have, whether immediate or long-term? What excites or frustrates them? What life stage are they in, or what’s a unique problem that they’re facing? The answers to these questions will help you determine how well you’re equipped to assist them.
Build a Referral Team
Think about other professionals who cater to a similar clientele while providing a different product. How might you invite them into strategic partnership? Ready an elevator speech that addresses four primary questions: (1) Who utilizes my services? (2) What needs do my customers have? (3) What feelings do my customers exhibit toward their problem? (4) What solution are my customers after? Welcome potential partners into a conversation and work to identify how your services could complement one another. Finally, prioritize forming relationships with local businesses who share your commitment to the Memphis community.
If you’re intimidated by this process, don’t be afraid to seek assistance. At the end of the day, networking is all about pursuing and strengthening relationships. So perhaps begin by asking friends and close colleagues --- people with whom you already have a long-standing relationship --- to help you identify your market and to offer feedback as you formulate your elevator speech. No one is an island --- that’s kind of the whole point of networking!
As you start to build and solidify your networking strategy, we invite you to connect with us here at Independent Bank. As a community bank, we consider it both a privilege and a pleasure to help small-business owners all across Memphis in accomplishing their goals and dreams. We would welcome the opportunity to learn more about your mission and to explore the possibility of partnering with you.
Finally, we’d like to say a sincere thank-you to Jana Cardona and Designed for Success for a fantastic presentation, and to the Small Business Council for their continued coordination and enthusiasm in bringing the Lunch in the Know to a virtual audience. If you'd like to watch a recording of the presentation, you'll find it here.
See you all next time!
