Networking for SMEs
DURING this series, I am focusing on small business success in the Pacific. Small businesses are essential to our Pacific economies — without them it is unlikely that the local economy will flourish.
There are many small businesses in the Pacific that survive against great odds. Money is often scarce, government support is not always as helpful as it might be, recruiting the right people can be problematic, there are many cultural challenges and getting support and help is not always easy.
One thing that I have noticed over the past ten years working with SMEs in the Pacific is that the successful ones tend to network effectively and collaborate with others.
I was recently talking to a business owner who was saying that he didn't like going to networking sessions because he thought they were a waste of time and often just talking shops.
As we talked further it became clear that the biggest problem was confidence — he found it hard to approach new people and to start to talk about himself and his business.
Networking is a modern-day word for talking with others! It is how we meet new people and hear about new ideas. It is how others hear about us. It may be done face to face or via social media or other methods such as video conferences or online sessions.
For most of us, running our own business is time consuming and potentially isolating. We all need the stimulus of talking with others.
Start by looking around at what business groupings exist near you that you could attend. You might be near a chamber of commerce or a professional network (e.g. accountants, trades , et cetera) or a local business group.
If lack of confidence is an issue, go with a friend and take something with you that can act as an introduction to your business for other people — a business card or brochure that you can simply leave with people. Make sure they have your contacts details clearly displayed and, in a few brief words, state what you do!!
Many chambers of commerce have “business after 5” meetings or something similar when we have the chance to hear about other businesses or business events and then socialise.
Sit with people you know! Start with them and gradually talk to others! You don't need to rush outside your comfort zone — take it slowly and you will find it isn't as bad as it seems.
No one will ever be able to sell your business as well as you. Practice at home in front of a mirror or with trusted friends. Don't be too clever! Keep it simple and to the point. Remember that other people are also feeling the same as you.
In the Pacific, we are often reluctant to talk about ourselves but if you don't, who will? If we have a good business idea, product or service then there is no point it being a well-kept secret.
Closely associated with networking is the idea of collaborating with others to grow your business. Make a list of the business skills that you might not be strong at — marketing, sales, finance, planning and so on. Keep these in mind when you are at any networking session; if you need help with your accounts then start to talk with accountants and make an arrangement to meet after the networking event.
Good collaboration often results in win-win where both parties benefit. I need something from you, and I can give you this. You might be looking for outlets for your products or places to sell from. Remember at any networking event others have the same needs!
Once you overcome the initial confidence barrier, you will be away! People attend networking events because they want to find out about others. None of us are as smart as all of us!!
Pacific people are great at helping each other — let's make this a better business habit.
If you are a successful entrepreneur or sole trader or run a small business, either informal or formal, then I would love to hear from you. Please email me and tell me what you do, how long you have been doing it and why you do it. In your own words, what makes your small business successful?
Next week I will focus on the contribution that innovation and creative thinking is making to business success in the Pacific.
■ Chris Elphick is a partner at Breadfruit Consulting, supporting the development of a range of businesses and organisations in Melanesia and other parts of the Pacific. If you have an issue or query related to this article, please contact Chris at chris@ breadfruitconsulting.com or text to +6785500556. Go to www.breadfruitconsulting.com for more information and ideas.