How Networking Pays Faster
By Phillip Chichoni
An Italian billionaire was asked what he would do if he lost all his money and had to start all over again. He replied, “I would take any job, save $500 and buy a nice suit. Then I would go to parties where successful people go.”
Why would he do that?
So that he could meet people who can offer him business deals or share opportunities. That’s how networking pays.
When Harvey McKay wrote the book “Swim with the sharks without being eaten alive”, he knew that publishers printed not more than 10,000 copies if you are a new and unknown author. However, he asked his publishers to print 100,000 copies and they said he was mad.
He then pulled up a suitcase he had brought along to the meeting. Inside were cards with personal details of over 6,500 executives of companies from all over the world. Harvey knew them all personally. These were people he had met, spoken to or done business with for the past twenty years. And they had all agreed to buy his book. And their friends and their friends’ friends were also going to buy copies of the book. The publishers were impressed and they printed the one hundred thousand copies.
“Swim with the sharks” became an instant best seller and has sold over five million copies since.
The average person knows about 250 people. The 250 people you know all know another 250 people each. If you network successfully and five people each refer another five people to your business, you have 125 customers. (you are not looking at 5×5, which is 25, but at 5 to the power of 5, which is 125). By building a larger network, the number of potential customers increases exponentially.
Business Networking is a really valuable way to expand your knowledge, learn from the success of others, attain new clients and tell others about your business.
I highly recommend business networking as a way to gain new clients and to build a sustainable business. Especially in these days where the economy is harsh and cash flows are slow does networking really help you thrive and grow.
However, it’s not just a numbers game; what matters is your effectiveness in building and maintaining a productive network. People will not give you business or refer clients to you just because they know you. As you know, we all act mostly for our own benefit first; there must be something in it for me if I am going to help you. Not necessarily money, though.
At the BusinessLink Networking breakfast meeting on Thursday 26th February, we shall discuss “6 Tactics to Get Results from Networking.” Why not join us and not only learn but actually begin building a network that will help you start accelerating your business’ growth immediately.
The venue is The Terrace Restaurant, 3rd Floor Barbours Department Store, First Street and Jason Moyo Avenue, Harare. Time is from 0815 to 0945. The fee is $6 for BusinessLink Magazine subscribers, and $10 for non-subscribers. Call or Whatsapp Christine now to book, on 0772 854 301, before midday Wednesday.
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ZSE lifts Meikles suspension before court ruling
HARARE – The Zimbabwe Stock Exchange has lifted the suspension on Meikles shares before the ruling on the urgent chamber application. The matter in which Meikles was challenging its suspension was supposed to be heard at 10am.
On February 16 the ZSE announced Meikles suspension after noting discrepancies in RBZ’s and Meikles debt balances as held by the central bank.
Pursuant to Section 23 of the Securities and Exchange Act [Cap24:25], suspension of trading in the Company’s shares was granted said the ZSE in a statement.
The suspension was lifted after the ZSE Listings Committee met in the morning and resolved that Meikles should be allowed to trade after acknowledging the ZSE chief executive did not follow proper procedure.
Meikles says it was not notified as is required by the Listings Rules while the formal letter suspending them only came after 7pm last Monday.
Meikles has put up a notice of withdrawal on the urgent chamber application.
However if proper procedure is followed Meikles could be formally suspended over various corporate governance deficiencies.