Networking and Other Informal Resources

The most powerful tool in business also costs very
little. Using it effectively and consistently will deliver
tremendous results.

EVEN IF YOU HAVE USED IT TO FIND A JOB, build your local sales, or deliver much-needed information in the past, you might not think business networking can work for your international business development. But in fact, it can be the cornerstone for building your business abroad.

Business networking is basically building your business through others. It offers you an efficient, low-cost outreach system for developing business referrals, sales opportunities, industry contacts, and a steady customer base. If instead you are a buyer of goods or services abroad, it can give you industry intelligence (and gossip), connect you with vendors, let you vet their reputations, and so forth.

You can use networking to build your brand identity and help you quickly become a respected player in a new market. And it can be immediately effective for building, growing and succeeding in business, even abroad. That’s because it lets you open or engage in discussions, form strategies, get referrals or references, and so forth, in the context of mutually beneficial business-building.

Just to be clear, I use “business networking” or “networking” here to mean face-to-face interactions that you get by attending meetings, gatherings and events; plus online or electronic means such as email, social media, and other similar sources. I don’t mean the computer networks that link multiple computers together.

Network to build business on a strong foundation

Business-building should always be one of the main drivers of your business. Networking can give it a strong foundation. Your business abroad may thus be less vulnerable to external drivers like a weak economy, new competitors in the marketplace, or even a sudden shift in consumer demand. With a strong, broad, diversified network, you gain leverage by spreading your business-building efforts across a wide array of other entrepreneurs, businesses, associations and of course, the raving fans of your business.

So, where do you start? The good news is that wherever you turn, you can find a reason to interact with others to promote and support your growing enterprise. Let’s take a look at the scores of possibilities available in the context of international business.

Face-to-face networking options

If you can spend time in your target market you have a wonderful opportunity to network fact-to-face with other people. Take a look at the list of networking resources on the next page. Many of these face-to-face methods are also used in job searches and information or fact-finding missions. As you review this list, begin thinking about how you can use the different resources to identify a good location, hire new employees, get referrals or references on vendors. You can use those resources for advertising, marketing and branding purposes, and for overall business-building. Of course, there are countless other options to consider, but this list should get your creativity going.

The Internet is smarter and faster than you are

I use this phrase often when training individuals and organizations in sales- and business-building. It carries even more weight when you are thinking of expanding internationally. Even if you’re an extremely savvy and frequent user of the Internet for your business, it is still essential to remind yourself how vital a role it can play in laying groundwork and building that rock-solid foundation you want as a basis for your business expansion in your target market. It is indispensable as a networking tool.

Of course, the research component of your Internet activity will always be there. But it’s the interactive side that you can take advantage of immediately and often, by going online and networking electronically, when face-to-face contacts may not be easily made. Give these online options a try:

• Join several national and/or international industry-related organizations

• Participate on online discussion boards and “chat” with other like-minded professionals

• Establish presence for your business through every social media channel that makes sense and that will ultimately generate results

• Find suppliers, vendors, fulfillment houses, employees and even future customers by interacting with them online and learning about their backgrounds, capabilities and/or needs

• Join blogs, news sites and other online resources as a contributor to tell everybody about your business and the industry in which you operate

• Gain credibility through all these channels and establish yourself as a legitimate expert in your industry by telling your story like a true business pro

These efforts will undoubtedly augment your face-to-face efforts, as well as help you reach a much broader audience to grow your business outside its local boundaries. You’ll also gain an undeniable advantage and develop incredible insights about your target market and the industry sector in which you work, as it exists abroad. And you will begin to identify your potential and actual customers’ needs or your prospective vendors’ ways of working in the target market.

Make a plan and follow it

As with so many things in your life as an entrepreneur, you are free to do things spontaneously, or by plan. In networking you’ll probably find a bit of both is best. If you bump into a stranger in an airport or lobby and discover mutual interests, exchange cards and follow up. Make sure you have your “elevator speech” (your two-minute or less description of what you do and where you’re going) in top shape for the new market’s needs. And on the planning side, evaluate which networking approaches could work best for you and set some measurable goals for acting on them in a defined period of time. The point is to seize opportunities and also follow a game plan for networking, so you can make sure to work every possible angle and resource for maximum success. Now, go forth and connect!

M.P.