Networking

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Building Client Relationships
Networking
Introduction
This lesson discusses networking as the process of developing and maintaining mutually beneficial relationships. It explains the
importance of developing a systematic approach to networking that will help you establish and maintain trusting relationships that
offer mutual value throughout your career as an advisor.
When you have completed the lesson, you will be able to explain the importance of developing a systematic approach to
networking. This information will assist you in helping to establish and maintain trusting relationships that offer mutual value.
At the end of this lesson, you should be able to:
Demonstrate the steps to growing your real life and online networks.
Networking
Banker's Challenge
Meeting with the Client
In this exercise, Henry, a small business banker, is meeting with his client Richard, who is starting an aquaculture business. In
their conversation, Henry opens the conversation with a reference to a small business seminar he has just attended. During the
conversation, Richard asks Henry a question about networking.
At the end of this lesson, you will revisit the conversation to see Henry’s response.
Select Next button to start the conversation.
Henry Richard, I hoped to see you at the small business seminar last evening.
Richard I thought about going Henry, but I’m not a big fan of those kinds of events.
Henry Well, I usually enjoy the talks, but mostly I go because it’s such a good networking opportunity.
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11/20/22, 9:53 PM https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3
Networking! I’m terrible at networking. I generally wind up standing around looking foolish or finding someone I
Richard
already know to talk to.
You have lots of company. Networking comes naturally to a few friendly souls, but most people, like you, find it
Henry
difficult and stressful.
Richard Really. A lot of people at those events look like networking is in their blood. What’s their trick?
Networking
Expanding a Network
Successful networking is an essential tool for building a business and gathering business referrals.
Successful networking depends on the exchange of information, advice, referrals and contacts. Most of us network in an informal
way on a daily basis. Your understanding of how to systematize your existing network and expand upon it will turn everyday
social exchanges into a valuable resource that will benefit you, your clients and your institution.
Networking is a common social custom. Most of us network naturally every day as we exchange information with our friends.
Networking is also an essential aspect of doing business, for small business bankers as well as small business owners.
Networking for business is similar to social networking, but with a systematic approach. Systematic networking begins with
friends and relatives and moves outward to include old and new acquaintances.
The selfish aim of networking is to gather information, advice, personal referrals and useful connections. However, networking as
a selfish pursuit is guaranteed to fail. Effective networking can only be done in a spirit of sharing, where help and support are not
only asked for and received, but also offered and given.
Aim of Networking
Most people recognize that networking is an essential tool for building a business and gathering business referrals.
However, many have a misguided view of what networking actually is.
Networking is about more than handing out business cards, selling yourself and using other people for personal
gain. Your primary focus when making new connections should always be the needs of the other person. It is more
important to collect information than to distribute it and to discover what you can do for the other person rather than
what they can do for you.
Tip
Common Misconceptions About Networking
“Networking is about making sure everyone I meet gets a business card.”

“Networking is another word for schmoozing. It’s all about selling yourself!”
“Networking is phony. It’s just people using each other.”
Networking is a process of building and maintaining relationships that offer mutual value.
A systematic approach to networking is always more successful than a random, unfocused approach. You are also more likely to
meet with success if you are wary of the common pitfalls and bad habits of ineffective networking.
Below are the basic steps to create a successful network.
Next, you will learn how to make and keep connections, build valuable relationships, and avoid the pitfalls along the way.
Tip
Your marketing message provides you with an informative answer to that perennial question, “What do you do?”
The first step in successful networking is to evaluate yourself to determine the direction you would like
to take.
Ask yourself the following questions:
What are my needs?

What are my goals?
What qualifications do I have?

What do I do that is unique?
Who can benefit from my services?
When you know the answers to these questions, make sure you can articulate them in a succinct and informative way. This will
be your marketing message to help you make the most of networking opportunities.
Start by identifying your current networking contacts, and then expand your list to include everyone else you can
think of. Current contacts may include family, friends, co-workers and professional acquaintances.
When you are expanding your list, consider people you would like to meet who are close to your field of interest.
Put these people at the top of your list.
At this stage, you may be asking yourself, “How can I meet the people I want to meet?” Remember that networking does not
consist only of official networking events. Networking occurs naturally in our day-today dealings with people. If you feel that you
are not meeting enough people, consider ways that you can expand your circle of acquaintances.
Some examples include:
Professional associations
Job fairs
Hobby or sports clubs
Day or evening classes
Volunteering
Successful networking is about building as many connections as possible through as many avenues as possible.
Tip
Meeting the right people happens when you ask the right questions to make the right connections.
Now you have a clear idea of who you would like to connect with and where to meet them. The next step is to
prepare yourself. Let’s examine the ways you can do this.
Before you go to any event where you are likely to meet people, prepare to engage in conversation.
Prepare to
Have in mind some topics of discussion, questions and anecdotes that will help you to avoid awkward
engage
moments of silence.
Prepare to Always have on hand a set of networking tools consisting of business cards, flyers and brochures that provide
provide contact information and links to your website or blog. And of course, don’t forget your marketing message.

Prepare to Remember that first impressions are lasting. Arrive early to events so you have time to collect your thoughts
make an and present an unruffled exterior. This will help you make the most of the connections you make. You will be
impression able to focus on the other person and you will appear to them as someone they will want to get to know.
Decide before you go to an event what your goals are in attending that event. One goal may be to meet a
Prepare to
specific number of people, another to get introduced to a specific person. And remember to always include a
achieve
goal to be generous with your own knowledge and connections.
Now you are ready for the most important step—going out in the world and making connections. This is the most
exciting part of your adventure, but it is also where you are most likely to encounter pitfalls. A good understanding of
networking etiquette is essential to guide you through this stage of networking.
When you meet people for the first time, use the opportunity to gather information.
Ask questions to discover the following about people you meet
When you meet people for the first time, use the opportunity to gather information.
Primary business concerns
Unsolved problems
Unmet needs
Areas where you can provide solutions
Contact information
Make sure you record the information you gather in one easily accessible place, such as personal handheld
organizer. And remember, whenever you make a new contact, always ask for referrals to other prospects.
Advertise yourself
Your goal in networking is not to make immediate sales. Networking is more like word-of-mouth advertising that
demonstrates the kind of person you are, what it is that you do and the kind of client who can benefit from knowing
you.
Use the following strategies to take full advantage of opportunities to advertise yourself through networking.
When you focus on giving and helping, help will come back to you. If you are perceived as a giver
Focus on
rather than a taker, people will be inclined to trust and respect you and consequently to do
giving
business with you.
Be a connector to people you meet by introducing them to others who may be helpful to them.
Focus on
Make it a habit to learn people’s needs and to consider who may be able to provide solutions.
connecting
Always be ready to provide testimonials and referrals.

When someone is talking to you, give that person your entire attention. Don’t think ahead and wait
Focus on
impatiently for an opening to speak. Learn to silence your thoughts and truly listen to what others
listening
have to say. This is a rare talent that will return great rewards.
Focus on Take a genuine interest in people you meet and look for common ground to build a friendly
being relationship. False friendliness is easily recognized. Move on if a genuinely friendly relationship
genuine does not develop naturally. The art of good networking is the art of being genuine.
Connect successfully with the people you meet
For some people, conversation with strangers does not come easily. When we meet people for the first time, or
when we reconnect with people we’ve met, it helps to have a set of conversational guidelines. Such guidelines will
help you avoid awkward conversations.
Use the following tips to connect successfully with the people you meet.
Sure, name tags look silly. So what? They also make you appear friendlier. People are less
Wear a name likely to approach you if you are not wearing a name tag, especially if they know they have
tag met you but have forgotten your name. Remember that your name tag is not for your benefit,
but for the benefit of others.
Don’t wait for an introduction; introduce yourself instead. It may be difficult at first to initiate a
Be fearless conversation, but it will get easier over time as you become better at it. You may encounter
occasional rejection, but you will find that most people are pleased by your interest in them.
Ask open- Ask questions that open up a discussion rather than questions that can be answered with a
ended yes or no. Successful networkers know how use open-ended questions to zero in on a
questions common point of interest. Common interests make for meaningful connections.
Don’t make Making assumptions can often lead to blunders. Make sure you use phrases and questions
assumptions that allow the other person to offer information. See the example.
While you may have your own preferred method of communication, those you meet may
Open the lines
have other preferences. Make sure all options are available and clearly indicated on your
of
business card, promotional material or website. Your comfort is not as important as the
communication
comfort of your potential contacts.
Be energetic and positive. Don’t gripe about your own troubles or the troubles of the world.
Be cheerful People respond to good cheer with enthusiasm, and they will generally try to avoid someone
who expresses negativity.
What if you are self-employed?

It can be particularly difficult for people who work for themselves to establish a network. Self-employed people
frequently work in solitary or near-solitary conditions, and are isolated by their circumstances.
For this very reason, it is especially important for the self-employed to build relationships and establish a dynamic
network of connections. Their very livelihood may depend of such a network. Networking tips for people who work
for themselves are described below.
Beverly is a freelance technical writer who works out of her home office. She joined the Society
Join an for Technical Writers and attends monthly meetings at her local chapter. Last year, she went to an
association STC conference in another city. She made valuable contacts with whom she now collaborates
online.
Join the Raul, who owns and operates a gourmet food shop, joined his local chamber of commerce and
chamber of attends meetings regularly. This group has been an invaluable resource. Other members have
commerce connected Raul with their expertise, advice, education and counsel.
Many colleges and universities offer continuing education specifically related to small business.
Take a Other courses may teach skills that apply to a specific business. Marc and Allain met when they
course took the same course in web development ten years ago. They formed a lifelong friendship and
have connected each other to many others.
Join or
Antoine is an illustrator and graphic designer who meets regularly with others who work in his
start a
field. Members of the group take turns hosting informal monthly seminars and learning sessions
networking
where they share new skills and bring in speakers.
group
Join an
Alicia is a member of International Entrepreneurial Women, an online discussion group for
online
women who own their own business. She has made connections across the country with other
business
women who use the organization to share knowledge and provide support.
group
How do you get started?
Students and others who are just starting a small business can take advantage of many resources that will provide
networking opportunities. Campus business associations, government programs and even the local library can be a
great resource. Such organizations and programs may provide advice, education, support and funding to budding
entrepreneurs.
Perhaps you are beginning to feel that you are ready to go out and start networking. That’s good! But first, let’s stop
to think about how not to network. At any networking event you attend, you are likely to run into people with poor
networking etiquette and bad habits.
Tip
Making assumptions can often lead to blunders.
Mikio: Hi, I’m Mikio. You must be new here.

Ted: “Actually, we were introduced at the last meeting.”
Mikio: "Ah yes, I remember! How are things at XYZ Inc.?”
Ted: “I’m not working there now. I’m unemployed.”
Make sure you use phrases and questions that allow the other person to offer information.
Mikio: “Hi, I’m Mikio. Have we met?”
Ted: “Hello Mikio! We were introduced at the last meeting. I’m Ted!”
Mikio: “Ah yes, I remember! What are you busy with these days, Ted?”
Ted: “I’ve been working on a new project. Would you like to hear about it?”
The last step in expanding your network is a crucial but often neglected step—that is, maintaining your network and
building your relationships. Follow up quickly with the contacts you make, and stay in touch on a regular basis. If
you take too long to get in touch, people will forget you.
Use the tips below to help you stay in touch with your network and strengthen your connections.
Use referrals
Always send thank-you notes for referrals or other favors.

Follow through on referrals immediately.
Keep new contacts in mind and refer them when you hear of opportunities that suit them.
Stay in touch
Add new contacts to your email list.

Invite contacts to receive email updates and notifications.
Pass along articles or links that may be of interest.
Let people know what you are up to.
Let people know that you are interested in what they are doing.
Meet again
Call to suggest meeting to share news.

Call or email contacts to notify them of upcoming events.
Imogene and Ken work at the same office. They go everywhere together and spend time only with each other. At
networking events, they stand in a corner and discuss the proceedings. Perhaps they do this because they’re
uncomfortable talking to strangers, but to those strangers they appear aloof, uninterested and unapproachable.
Leonard is only here because his boss told him he’s “got to get out and start networking.” He treats networking like a
fishing expedition, where one hopes to land a full basket with a few casts of the line. He doesn’t realize that
networking consists of cultivating and maintaining good relationships over the long term.

Patricia is all business. When she goes to events, she’s not there to have fun or partake in small talk; she’s there to
sell products to everyone she encounters. She focuses exclusively on her own needs and is not interested in
developing relationships that are mutually rewarding.
Dmitri is here to distribute business cards. He makes no chit chat or eye contact. He doesn’t ask for cards in return.
He never wastes time establishing rapport. He just introduces himself, deals out his card and moves on. The people
he meets invariably feel that they are of little importance as individuals.
Mohamed only networks at networking events. It would never occur to him that networking opportunities exist all
around him all the time—in the elevator, at the grocery store or walking his dog in the park. In fact, to good
networkers, networking is second nature. The do it all the time, no matter where they are.
Online networks such as LinkedIn, Facebook and Twitter are rapidly growing as tools to help you connect with informed
colleagues and potential customers. Using online social networking allows you to expand your network rapidly and connect with
people in your field who may be difficult to reach through ordinary networking channels.
Here is a brief list of some popular online channels and some of the ways they can be used:
Linkedin
Keep an updated profile

Join a group with common interests
Set up and manage your own group
Facebook
Stay in touch with people

Promote your business
Create an event
Use RSS feeds to post updates from your blog
Twitter
Follow colleagues and experts in your field

An informal marketing tool
Provide updates on your products or services
Establish direct contact with potential customers
The use of online networking as a marketing and promotion tool is growing rapidly. In fact, it is almost essential for businesses
that want to stay competitive in today’s market. Some businesses, however, make poor use of these powerful tools through bad
practices. Use the following guidelines to build a dynamic online network and avoid mistakes.
Select the boxes below to view more details.

Be interesting and relevant Use a blog Connect Reciprocate Be visible
Keep your posts friendly but business related.
Avoid overly personal content. Avoid posts that are unprofessional or offensive. Avoid a hard-sell approach.
Provide information first and promote your business as a secondary function. Post links only to useful and relevant content.
Don’t spam.
Use a blog to provide valuable information to potential customers.
Update your blog frequently. Link your blog to your networks.
Use email functions frequently to build online connections.
Respond to all comments, emails and tweets. Connect with industry experts and recognized authorities.
Introduce yourself when you send a request to connect, stressing business-related motives. Launch a company fan page.
Follow your colleagues in cyberspace.

Create links to colleagues’ content. Comment frequently and generously on colleagues’ sites.
Ask questions and share knowledge.
Determine which networking sites work best to reach your target audience and focus on one or two of those.
Use privacy filters cautiously to avoid blocking potential customers. Use relevant keywords so clients can find you.
Promote your online profiles through your email and blog.
Check with your institutions online network policy prior to starting online networking.
Expanding a Network: Knowledge Check

Your primary concern when making new connections should always be the needs of other person.
This is correct!
True
Networking is a process of building and maintaining relationships that offer mutual value. Your primary focus when
making new connections is to discover what the other person requires and how you can be of service.
This is not the correct answer.

False
Try again!
Expanding a Network: Knowledge Check

What is the primary purpose of a networking event?
It provides a chance to hand out business It is more important to collect information than to distribute it and to discover
cards. what you can do for the other person rather than what they can do for you.
Try again!
This is correct!
It provides a chance to meet people
with whom we can build relationships. The primary function of networking is to establish and maintain trusting
relationships that offer mutual value.

It provides a chance to meet people who Your primary focus when making new connections should always be the needs
will be of use to us. of the other person.
Try again!
Networking
Banker’s Challenge Resolved
Banker’s Challenge Resolved
At the beginning of this lesson, you met Henry, a small business banker, and his client Richard, who is starting an aquaculture
business.
Do you remember Richard’s question for Henry? View Henry’s responses in the scenario below.
Select Next to start the conversation.
Richard What is the trick to successful networking?
Henry Networking is easier if you have a systematic approach.
Richard I’d be interested in learning a system.
Henry I’d be delighted help you learn. After all, that’s what networking is all about—being useful.
Richard It is? That’s an interesting point of view.
It’s true. Networking is not about using other people for personal gain. It’s more important to discover what you
Henry
can do for the other person than what they can do for you.
Networking
Putting it Together
Meeting with the client
In this exercise, you are meeting with your client Cecily, who works for herself as a communications consultant. Cecily would like
to expand her business network and has asked for your advice.
In the course of your conversation with Cecily, you will be given two ways to respond. Select the response that you think is most
appropriate.

Select Next to start the conversation.
I love working from home for many reasons, but I do feel isolated. I would like to learn how to network more
Cecily
successfully—not only to build my client base, but also to connect with other people in my field.
I’m glad you recognize the importance of networking, especially for self-employed people such as yourself.
You
But networking doesn’t come easily to a lot of people. If you’re interested, I can give you some tips.
Cecily I’m very interested.
First of all, you should evaluate yourself to discover your needs, goals and qualifications and to determine
You
who can benefit from your services. Then you should do some brainstorming.
Cecily What do you mean by brainstorming?
Select the
most
appropriate
response.
Think about where to meet the people you want to connect with. Also put some thought to the people you
want to avoid. You don’t want to waste your time with people who can’t be of any use to you.
Think about where to meet the people you want to connect with. Also put some thought to the people you
Cecily
want to avoid. You don’t want to waste your time with people who can’t be of any use to you.
This is not the correct answer. Your client recognizes that it is not a good idea to dismiss anyone as a
potentially important connection. Try again.
Consider people you who are close to your field of interest and put them at the top of your list of people
you want to connect with. But don’t dismiss anyone as unimportant. Anyone you meet may potentially be a
significant connection.
Consider people you who are close to your field of interest and put them at the top of your list of people
Cecily
you want to connect with. But don’t dismiss anyone as unimportant. Anyone you meet may potentially be a
significant connection.
This is correct! Cecily thinks your advice is good and she’s made some important connections. Select the
next arrow to continue with the meeting.
You You never know where important business connections will come from.
My hairdresser, for example, introduced me to one of my best clients. What’s the next step after I’ve done
Cecily
some brainstorming?
Select the
most
appropriate
response.

The next step is to prepare yourself to go out in the world and meet people.
The next step is to prepare yourself to go out in the world and meet people.
You
This is correct! Cecily wants to know how to prepare herself. Select the next arrow to continue with the
meeting.
The next step is to get out there and meet people.
The next step is to get out there and meet people.

You
This is not the correct answer. Your client realizes that she may feel unready to start networking without
some preparation. Try again.
You The next step is to prepare yourself to go out in the world and meet people.
Cecily How do I prepare myself?
Well, for example, have a topic of conversation prepared. Have your business card ready. Set a goal for
You
yourself—tell yourself you will speak to, say, five new people.
Cecily Oh yes, I see. I should do a kind of mental preparation so I feel relaxed and ready to meet people.
You That’s right! Then, when the time is right, you can get out there and start networking.
Cecily You make it sound so simple.
You Well, it’s not as simple as all that. You should be wary of pitfalls.
Cecily What do you mean by pitfalls?
Select the
most
appropriate
response.
I mean, for example, dismissing the importance of small talk and focusing exclusively on making sales.
I mean, for example, dismissing the importance of small talk and focusing exclusively on making sales.
You
This is not the correct answer. Cecily knows that skipping small talk may give people the impression you
are not interested in them. Try again.
I mean, for example, spending too much time making small talk and not enough time making sales.
I mean, for example, spending too much time making small talk and not enough time making sales.
You
This is correct! Your client is glad you know small talk is important. She believes networking should be
fun. Good choice: Select Next to continue with the meeting.
You We shouldn’t dismiss the importance of small talk and focus exclusively on making sales.

Cecily I’m glad you think that small talk is important. Networking should be fun in my opinion.
You And it’s no fun to feel like you’re nothing but the target of a sales pitch.
Cecily Tell me something—when I’m talking to new people, what should I focus on?
Select the
most
appropriate
response.
You should focus on gathering information about them and acquiring their contact details.
You should focus on gathering information about them and acquiring their contact details.
You
This is not the best answer. Your client understands that bombarding people with information about
yourself is likely to be unsuccessful. On the other hand, asking questions and gathering information
shows people that they are important to you. Try again.
You should focus on providing them with information about what you do and also with your contact
information.
You should focus on providing them with information about what you do and also with your contact
You
information.
This is correct! Cecily thinks your advice is helpful and she is definitely going to put your tips to work!
Good choice: Select Next to continue with the meeting.
You You should focus on gathering information about them and acquiring their contact details.
Cecily Thank you for this helpful advice. I’m definitely going to put these tips to work!
Excellent! And remember to follow up with new contacts to maintain the connection! That’s my last bit of
You
advice.
Congratulations! You have completed the activity.
© 2022 Moody's Analytics

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11/20/22, 9:53 PM https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?

Building Client Relationships

At the end of this lesson, you should be able to:

Meeting with the Client

Select Next button to start the conversation.

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 1/15

Common Misconceptions About Networking

“Networking is about making sure everyone I meet gets a business card.”

Below are the basic steps to create a successful network.

Ask yourself the following questions:

What are my needs?

What qualifications do I have?

Some examples include:

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 4/15

Ask questions to discover the following about people you meet

Primary business concerns

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 5/15

Connect successfully with the people you meet

What if you are self-employed?

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 6/15

How do you get started?

Making assumptions can often lead to blunders.

Mikio: Hi, I’m Mikio. You must be new here.

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 7/15

Ted: “Actually, we were introduced at the last meeting.”

Mikio: "Ah yes, I remember! How are things at XYZ Inc.?”

Ted: “I’m not working there now. I’m unemployed.”

Mikio: “Hi, I’m Mikio. Have we met?”

Always send thank-you notes for referrals or other favors.

Add new contacts to your email list.

Call to suggest meeting to share news.

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 8/15

Keep an updated profile

Stay in touch with people

Follow colleagues and experts in your field

Select the boxes below to view more details.

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 9/15

Be interesting and relevant Use a blog Connect Reciprocate Be visible

Keep your posts friendly but business related.

Be interesting and relevant Use a blog Connect Reciprocate Be visible

Use a blog to provide valuable information to potential customers.

Update your blog frequently. Link your blog to your networks.

Be interesting and relevant Use a blog Connect Reciprocate Be visible

Use email functions frequently to build online connections.

Be interesting and relevant Use a blog Connect Reciprocate Be visible

Follow your colleagues in cyberspace.

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 10/15

Ask questions and share knowledge.

Be interesting and relevant Use a blog Connect Reciprocate Be visible

Promote your online profiles through your email and blog.

Expanding a Network: Knowledge Check

This is not the correct answer.

Expanding a Network: Knowledge Check

This is not the correct answer.

https://training.csi.ca/shared/products/SBB/2017/en-CA/2-Business Relationships with Small Clients-BRSB/print.html?verID=M3L3 11/15

This is not the correct answer.

Banker’s Challenge Resolved

Banker’s Challenge Resolved