Category: Networking

Which is best for me: a business network or a mentor?

Determining whether you will benefit more from a business network or a mentor depends on your individual situation. First, assess what kind of networks or mentors are available in your area.

You will also need to think about how much time you can devote to attending network meetings and events or what time you have available to spend with a mentor.

Ultimately, it is about discovering the right fit for you and your business. Indeed, you may find that both participating in a network and working with a mentor suits you best.

Here is a look at the difference between a network and a mentor.

A network:

  • an activity that allows a person to build business relationships while also generating opportunities
  • typically a group of individuals or a formal organization
  • operated for the mutually beneficial exchange of information, ideas, support and business leads

Your local Chamber of Commerce, or similar business organization, is a great example of a network.

A mentor:

  • an individual with whom you have a personal relation­ship, who typically has more business knowledge or experience than you, who provides you with professional development support and personal advice
  • typically one individual, rather than a group
  • someone who is not personally connected with your business, but has enough knowledge of your type of business or industry to add value

What benefits can a network or mentor bring to my business?

Taking time to build a network and nurture a relationship with a mentor can create great value for a business. The process is most often free and can put you in touch with others who can expand your connections and information within your field of expertise.

Here are benefits a business network can offer to a business owner or entrepreneur:

  • developing personal connections that can grow your business through referrals
  • presenting opportunities for business partnerships and joint ventures
  • raising your profile in your chosen field
  • building your confidence by practicing interacting with others you may not be close with
  • creating friendships or social connections with people who have common goals or backgrounds

Here are benefits a mentor can bring to a business owner or entrepreneur:

  • providing fresh and impartial feedback on your business ideas, generally at no cost to you
  • fast-tracking your plans by sharing the challenges and experiences they have encountered
  • providing quick access to expertise in your field
  • holding you accountable and helping motivate you reach your business goals
  • connecting you with others and expanding your social network
  • offering a personal connection that can ease social isolation

Where do I find a network or mentor?

Since rural-based businesses are often located at a distance from major centers, it can sometimes be a challenge to find a mentor or network. Here are some of the ways an agri-preneur can begin a search to find network or mentor.

Finding networking opportunities

  • Ask an Agriculture and Forestry (AF) New Venture Specialist to provide recommendations on agriculture-based organizations or associations that you can join.
  • Check with your local Chamber of Commerce or town business directory for associations or organizations in your area.
  • If there is an educational institution nearby, it may offer networking events or clubs you can join.
  • Trade shows and conferences can be great way to find professional agricultural groups (see the Alberta Agriculture and Forestry website ‘events’ for a listing).
  • Reach out through your social network by asking Facebook, Twitter and LinkedIn followers if there is an organization they would recommend for you.
  • Many local communities have organizations you can join; remember that non-agricultural groups (such as Toastmasters to build communications skills) can also bring value.

Finding a mentor

  • Ask an AF New Venture Specialist if they know someone whom they would recommend as a mentor for you.
  • Ask someone you respect or admire for a referral; be specific about what you are looking for.
  • Put the word out in your personal and family circles that you are looking for a mentor.

Additional tips for approaching a mentor

With a network, the process is fairly simple: you find a group that fits and you join in. Finding a mentor can be a little more complex and requires a more personal approach.

As you change, or your business needs change, your need for a mentor will also grow and evolve. Here are a few tips on getting in touch with a mentor and how to handle this relationship successfully.

  • Understand that asking for help is not a sign of weakness.
  • Know that when you put yourself in a position of receiving advice, others are often delighted to help.
  • Make a short list of mentors you would find valuable, and research each person to decide who is best to start with.
  • Telephone or email this person, briefly outline your request and then ask for an appointment.
  • Use the approach “I value your opinion” rather than “I want to do what you do.”
  • Prepare questions for your prospective mentor before your meeting.
  • Meeting away from the office is often best (make sure you pay for lunch or coffee).
  • Be specific when discussing which areas you want help with.
  • You may want to bring a recording device, pen and paper or laptop to the meeting (always ask before recording the meeting).
  • Keep the first meeting short to show respect for their time.
  • Listen to what they say (try not to do all the talking!).
  • Thank them for their time (verbally or with a small gift or card).
  • Think about ways to make the relationship reciprocal; for example, if you find an article they would be interested in, pass it along.

Paying it forward

Being connected with others takes effort. It can bring great rewards, too – not only for your business but personally as well.Finding the right network or mentor can catapult your business forward.

Just remember, when you become successful and have a chance one day to recommend a network or become a mentor, be sure to pay it forward and help others with a hand up as well.

Top 11 Steps For Effective Business Referral Marketing!

“Effective referral networking if done well is consistently the lowest cost form of marketing any business can employ to host sales, opportunities and profits”
Every business, particularly small, entrepreneurial or professional businesses, must have a powerful referral network and referral marketing system to grow their sales and business opportunities.
It is very unlikely (and terribly expensive) to “advertise your way to success” without substantial working capital, it simply can’t be done by the overwhelming majority of new and small businesses.
It is far more effective, cost friendly, and fun to create an effective network that grows your customers, supports your business goals, and genuinely makes you money.
Unfortunately, most business people confuse being effective at networking with passing out business cards and schmoozing at events. They are NOT the same at all.
Below are the 11 steps I recommend for creating an effective network that will help you build your business.
1. DO: Be visible and well-liked! Know lots of people and be sure they know you. Like-ability is a key attribute to being successful.
2. DON’T: Inappropriately use your acquaintances or membership lists to build your business’s marketing and sales lists. People hate being put on the spot or their activities hijacked for other purposes!
3. DO: Join and contribute to worthwhile groups and causes. You have to “put in” before you can “take out.” Be known as a generous person with a lot to give. Think of it each time like a bank account, you can’t ask for an overdraft before you build up some credit history.
4. DON’T: Grab the spotlight or Chair every committee you are on. Don’t turn down positions of leadership or responsibility (it’s a great way to build your reputation), but don’t be pushy either. Let people discover you and your skills!
5. DO: Show up! Whatever your current circle of friends and relationships, this week go someplace else! Continue to add new circles of influence and expand the range of your interests and involvements. Keep growing the circle but remember to keep in touch with your network! Plus if you have committed to a networking or referral marketing group, nothing kills credibility or reputation than flaky behaviour.
6. DON’T: Expect colleagues with similar expertise to be referral sources. They have their own businesses to run and are unlikely to share clients with you. Be realistic when reaching out to them.
7. DO: Reach beyond your profession or business for connections. Look to business owners, salespeople, managers and especially look out for “connectors”. Anyone who connects with many people in your business community and who does not compete with you is a potential partner.
8. DON’T: Rush into business relationships. Have coffee, get acquainted, but never push a business card or brochure on anyone i.e. seek to help NOT sell! Conveniently “forget” collateral at the office, and send a thoughtful follow-up note with the material a couple days later if you want to keep a “sales” relationship going.
9. DO: Make sure your business connections run both ways. Referring clients back to your referral sources before or after they do so is simply the “law of reciprocity” in action. This though must make business sense to both sides. Make sure your referrals provides increased income, more convenience, better outcomes, or other benefits for your referral sources. This is only fair.
10. DON’T: Panic or try to rush. Most successful businesses only need 3-10 great referral sources. Select and cultivate them wisely and patiently. It pays huge dividends in the long run!
11. DO: Have a plan for what customers or businesses you want to meet or be referred into. Other people can’t guess what you want or worse still they will waste your time with the wrong referrals if you are not CLEAR, PRECISE & FOCUSED on what your top targets are. Nothing screams professionalism and “refer me with confidence” than having that laser-like focus on your referral targets.
Above are my top 11 steps for effective referral marketing success for new and small businesses of all shapes, sizes and activities. All of these steps require hard work (we are not hobbyists after all), discipline, perseverance and a good plan, but will save you a fortune on any other method you might employ, and be more fun and profitable.

How to Generate More Referrals for Your Business

Remember when you were a kid and you played the game telephone—you’d think of a sentence, whisper it into the next kid’s ear who would then whisper it to the next all the way around a circle until the last person blurts out what they hear. The best part about this game is how funny it was when the last person says something entirely different than was intended by that first little kid who started the phrase. Believe it or not, this same concept translates into the business world through referrals.

One of the best ways to generate referrals for your business is through word of mouth. In an ideal situation, everyone will hear the right information about your business and everyone will make it to your website. There are lots of ways to make your word-of-mouth efforts more appealing, targeted, and clear. Consider some of the ways below to make sure that your company’s message gets all the way around the circle correctly.

5 Tips for Generating Referrals for Your Business

1. Offer a gift to those who refer your business

You want to give people an incentive to refer your business because it will not only give them some motivation to, but it will also show your appreciation. In the end, a new customer will be much more valuable than any coupons or free gifts you offer.

After all, getting a new customer can often grow into many customers if they take too take the initiative and continue to refer your company to their family, friends, and social networks they belong to. This tactic is great because it will work with family, friends, existing customers or clients, and even employees. After all, who doesn’t love free stuff?

2. Build relationships with other businesses

Chances are your business works with others within the industry. People within your industry obviously work with your target audience, so their referrals might very well be a great way to get a lot of customers and clients quickly.

If the company you work with has a good reputation and is trusted amongst their own clients, a referral from them could be extremely powerful. The best way to make this happen is to create a partnership by offering to refer their company as well.

3. Make sure you are easy to find, simple to contact, and approachable

This is probably the most obvious form of generating referrals, yet many companies struggle with it. Make sure that each time a customer or client leaves your office, you hand them a business card with a telephone number and an email address. Should they need to contact you, they’ll know how.

Make it easy for someone to refer you. If they have to jump through hoops to find your contact information, they’ll probably forget about the referral.

4. Pull together testimonials

While first-hand referrals are the best way to get new clients, testimonials are also great. If you can ask customers or clients about their experiences with your company, you can get signed authorization that will allow you to use that testimonial in your advertising. The easiest way to gather testimonials is to ask a client or customer how their experience was just before they leave. If they had a good experience, many people will be more than happy to let you know. Through testimonials, some of your best customers will be able to get their opinions out there even if they don’t have any friends or family members who need your services.

5. Don’t be afraid to ask

If your company simply cannot afford to offer an incentive or change up your advertising to include testimonials, asking for referrals from customers is completely appropriate. Many small business owners and startup companies may worry that this is rude or out of the ordinary, but asking for a referral is a very common occurrence.

If you’re friendly and appreciative, there is no reason that anyone would be upset with you asking for their help.

One of the biggest things to remember is that you shouldn’t be trying to convince people your company will do the job. Instead, focus your resources on making sure your company is worth all of these referrals. If you have a solid, quality business, there is no reason the referrals won’t start piling up. While generating more referrals is important, you must start with the product or service you are hoping will be referred. If your business plan is wishy-washy from the start, there is no way the kid at the end of the circle is going to listen to what you have to say.