When Is It Time to Stop Networking in Your Business?
As you may know already, real, effective networking takes a lot of time and effort and although it is the least costly of all marketing strategies, it can be costly, especially for businesses that are really struggling and do not have 2 cents to rub together. It could be the cost of the entrance fee, no matter how small, a coffee and of course the cost in time.
But after getting off the ground and starting to do well, I have noticed that some businesses are o inclined to slow down on their networking, taking a ‘short’ break or stopping altogether often with very damaging effects. They tend to do this when:
- When their pipeline is healthy and overflowing.
- When they don’t want any more clients.
- When their calendar is so full that they cannot fit another client in.
- When they are waiting on the outcome of a few proposals and are nervous or anxious that they will all be successful.
- When special days, events or holidays are coming up.
- When they are so busy looking after their current clients that they do not have time for networking.
In reality, you should never stop networking.
When you are an entrepreneur, are self -employed or own your own business, you need to let the public and your potential clients know on a consistent basis about what you do. This is something you never stop doing. The platform or regularity may change, but networking needs to be part of the staple diet of your business to ensure that it keeps growing or if you do not want to grow any bigger, that you can replenish clients who decide to leave you for whatever reason, with another.
If you do not ….
Keep Keeping Forefront in Your Clients’ Minds
When you do need more clients to keep the business running at a very optimal level, there are no clients because they have lost touch with who you are and what you do.
Don’t ever get so busy looking after current clients that you do not prepare for what is coming next because a business’s pipeline can dry up very quickly, despite how long it took for you to grow it. If you let your pipeline dry up, it could take anything from 3 to 6 or 9 months or even a year before you start getting new clients again. Depending on the health and wealth of your business, you may not be able to weather the storm and it could cost you greatly, even as much as closing your doors which is devastating for any business especially when you have put your heart and soul into starting it and growing it into a profitable business
Always keep your foot gently on the marketing gas.
It is tempting to relax a bit or more when things are going well, but from witnessing some very sad cases of clients I have worked with who did just that, I strongly recommend you always keep a toe, foot or your whole self, active within the networking circles. Once again, as with all things in life that you want to succeed at, it needs to be done regularly and consistently.
Remember this when the going is good. You will not regret it when the tables turn and the good gets tough as can and often does happen in business. You will thank yourself for it!