In my last article I described the mechanics of formal networking.
Most of us do informal networking to various degrees but formal
networking is a focussed method of getting people together
with the sole aim of generating referrals.
How does it work?
A group of up to 30 people from different walks of life get
together around a table, normally set up in a ‘U’
shape so people can face each other and one member can give
a presentation from the front, usually aided by a projector
and screen. The meeting I attend in Jakarta is from 7.00am
to 8.30am. Breakfast is provided and minimum time is lost
from the working day. The meeting starts by going around the
table; each member has one minute to describe his or her business
or profession and say what kind of referrals are being sought.
Then each week one member in turn has an opportunity to describe
the business in more detail during a 10-minute presentation
followed by questions and answers. Then there is a five minute
‘education’ slot on various aspects of networking
presented by a volunteer member each week. Finally we come
to the main purpose of the meeting, the passing of referrals.
This is done by going around the table again and inviting
each member to state what referrals he or she has got or at
least make some comments. Any referrals are recorded on a
triplicate slip of paper (so that records can be maintained)
and the top copy for the recipient is literally handed to
him or her ‘on a plate’.
What kind of businesses and professions are represented?
Virtually any, and they are represented by a variety of nationalities,
both expatriate and local. To give you a few examples of some
that spring to mind, here are a few:
- Graphic designers (marketing concepts,
brochures,
business cards etc.)
- Printing services
- Legal services
- Taxation advice
- Landscaping / gardening services (company
using
best horticultural practices,
encouraging butterflies etc.
of interest to hotels or people with large gardens)
- Security services (provision of security
guards,
surveillance equipment etc.)
- Intelligence services (provision of up-to-date
intelligence on security issues,
criminal, terrorist
threats etc.; widely used by
large corporations
in Jakarta)
- IT / software services
- Management training
- Recruitment services
- Translation services
- Medical, home and auto insurance
- Vitamin supplements
- Water purification equipment
- Financial services
If you have need for any of the above I would be happy to
put you in touch with the providers (including the last one
of course!). There is no charge involved and no commissions
are payable. The object is for us to help each other obtain
more business or to resource services provided by someone
who is known, as opposed to a complete stranger.
The difference between a recommendation and a referral
A word of caution. A referral does not guarantee the quality
of the service in question. A recommendation from a person
who has had first hand experience of the service is far better
but this is not always easy to find. People are more likely
to talk about poor service than good service! But in the absence
of a recommendation a referral from a networking group is
the next best thing because the person being recommended will
at least have a track record of having attended meetings on
a regular basis and is under a moral obligation not to let
the referrer and other members of the group down.
Is the group just for small businesses?
Not at all. Someone representing a large oil company or a
hotel for example can save valuable time by locating providers
of various services such as those listed above within the
group. An individual could be offering his or her services
and find an employment opportunity within the group. Could
such a group work in Bali? Most certainly it could and I understand
a move is under way to start one in the near future. If you
have a service to provide or you need a variety of services
for your company you could find that joining a group is a
valuable investment in time for very little cost.
Colin Bloodworth is a senior financial adviser with Financial
Partners International. The views expressed are his own. If
you have any questions relating to personal finance you may
contact him at 021 520 8099 or
colin.bloodworth@financial-partners.biz
