5 Networking Tips Every Small Business Owner Needs to Know

Networking is one of the most valuable tools in a small business arsenal—but it's also one of the most misunderstood.

Too often, it is reduced to collecting business cards or racking up inane LinkedIn connections. Basile Lemba rejects that definition. As founder of BL Networking Institute and creator of the "Networking for Profits" course at George Mason University Continuing and Professional Education, Lemba has spent his career proving that networking is not a matter of luck or charisma—it is a science, with results.

Drawing on more than 22 years of research and 300-plus networking events, Lemba developed a model that takes the guesswork out of networking and gives business owners a clear, repeatable path to developing professional relationships.

Here are five of his top lessons for small business owners who want to turn conversations into lasting business growth.

1. Understand the purpose of networking

Networking, promotion, and sales are often treated as interchangeable. They are not. Lemba's research identifies them as three distinct stages, each with a different purpose. Understanding that difference is what separates businesspeople who close deals from those who do not.

“The purpose of networking is 'to create acceptance’; the purpose of promotion is to create an ardent desire for one's products/services; and the purpose of sales is to collect the money,” Lemba explains.

In other words, do not try to sell before you have earned someone's trust. A prospect who is not yet comfortable with you is not ready to take what you are offering, let alone pay for it. Get the sequence right, and the sale stops being an uphill push. It becomes the natural next step.

2. Precision beats volume

A larger network does not always translate into better results. Lemba argues that the strategic allocation of your time carries far greater weight than the size of your network.

"If you spoke to ten people and one of them was your ideal client, chances are that you would wind up with 10% of the revenues," Lemba says. Talk to ten people, nine of whom are ideal clients, he explains, and that number can climb to 90%.

Rather than attending every networking event you can find, identify your ideal customer first. Then seek out the organizations, events, and online communities where those people already gather. It is not about casting the widest net possible. 

3. Live by the two cardinal rules of networking

Lemba boils effective networking down to two guiding principles:

1. Be genuinely interested in others.
2. Always put your own agenda last.

Business owners who set their personal agenda aside and pay attention to the person in front of them easily outperform those chasing the next pitch. Ask thoughtful questions, actively listen, and be genuine. 

It is much easier said than done, but practice makes progress. 

4. Treat the follow-up as a full-time job

Meeting someone is only the opening move. Lemba says the real opportunity comes after the introduction, when most relationships either fade or start to gain traction.

"Only 2% of the sales are made at the first contact," he says. "That means 98% of the sales have to do with follow-up."

Like networking itself, effective follow-up is something you can improve with persistence, organization, and an intentional approach to staying in touch without overwhelming your contacts.

5. Apply the same principles everywhere

LinkedIn, Zoom, and social media haven't changed the rules of networking, just the channels. There really is no new playbook. 

"A face-to-face meeting, phone communication, internet use, virtual meeting, Facebook, or LinkedIn are just media, a means to achieve an end. The basic natural laws for people's interactions are the same and will never change," he says.

Whether you are at a 600-person event, sitting in a breakout room, or just shooting a message on LinkedIn, the cardinal rules apply equally. The tools evolve, but the fundamentals of human connection don't.

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.