Business Networking: 5 Secrets to My Success

Networking, meet-ups, tweet-ups, conferences -- we're surrounded by opportunities to connect with individuals who may be helpful to our business, or even with potential customers.

Yet far too many entrepreneurs waste their time by not approaching these events with enough preparation or intention. They turn into wasted opportunities.

Here are five things that you can do to make the most of your next networking event. Some of these you can do right away, others require a bit of research. Either way, you need to make each of these part of your business-development strategy for 2012.

1. Set a goal. When you go to the events, do you even know what you want to get out of it? Most entrepreneurs that I have spoken to have never thought about creating goals for networking. If you don't have a goal, why are you going?

Think about whether you want to try to meet new people or re-connect with existing connections. Who is your ideal connection at the event? How many solid takeaways will make the event a good use of your time? Set your intentions for the event beforehand to make sure it's even worth attending.

2. Do your research. Many events these days publish online lists of the participants and the companies they work for. Do your homework beforehand to figure out the best potential connections, and make a list of your top 6-10 whom you want to meet  -- and make sure to meet at least 2-3 of those.

This is particularly helpful for dinner events, since you can decide with whom to sit. Also, find out what you have in common with attendees by checking out their LinkedIn profiles or reading up on them online. Use the common ground that you discover as icebreakers to establish a connection.

3. Practice your pitch. When someone asks what you do, be able to communicate it clearly and concisely -- and to describe the value you provide to your customers. Learn how to deliver your pitch with confidence and enthusiasm -- first impressions matter, and they happen very quickly.

Also, if someone asks how they can be helpful, be prepared to reply, clearly and concisely, with one good suggestion, such as a particular type of referral. The more specific you are, the more likely you are to get exactly what you want.

4. Set reasonable expectations: You're meeting most of these people for the first time, and it's important to adapt yourself to this environment. Don't ask for favors that overstep the level of the relationship.

Also, focus on making fewer -- but higher quality -- connections, rather than trying to meet everyone in the room. A few really high-quality, strong connections will pay off at a much higher rate than a bunch of casual interactions. 

5. Focus on your follow-through. Remember that the networking event is just the first step in a long process. If you meet someone who could be a customer, referral partner, or other asset, take time to nurture the relationship. Send them an article that is helpful to their business. Provide an introduction. Ask them to coffee. Continue the dialogue, as strong relationships aren't built in a day.

After all -- if you're not going to spend the time required to follow up on your networking efforts, then why waste your time attending the event in the first place?

What other preparation or practices do you have for networking? Share your thoughts below.