Better Networking For Your Business (Part 3) – The True Cost

business networkingWe have looked at networking skills, how to get more from your networking, and how to target and approach people you have not met before.

However, there is always a cost to networking. For your business to grow then networking is an essential part of your marketing mix. However, there is always a cost and not just in cash. Balancing the cost against the gain is essential and is a process we would recommend you measure, otherwise your cash, and your time, simply become wasted.

It is like businesses that fail to take the right advice, the cost to getting networking wrong soon adds up.

The Cost / Benefit Spreadsheet

This is a basic spreadsheet we have used for a while, if you want a copy then contact us and we will email it directly to you, otherwise you should be able to access it from the link below –

Networking Scorecard

The idea here is that you score each networking event over a set criteria based on success, enjoyment, cash cost, personal cost (yes this is a factor!),travel time etc. You can alter and fit the template to suit you, but be honest when completing it!

Use this scorecard to then prioritise your networking commitments, in this way you can focus on the events that work, rather than try and do everything.

Give it a go, we like it and have used it for a while. Either way please share, but let us know your thoughts on it.

If you have any comments then please add them above, or contact us via the website.

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