Now more than ever, it's critical for you to become a truly effective networker in order to thrive during these recessionary times. Networking in order to develop key relationships is the most cost effective way to generate new business. No matter how bad times get, people will always turn to networking as a way of keeping them and their business visible in the community.
People (including your customers) tend to want to stay close to home when the times get tough. With respect to networking, that translates to people wanting to do business with those closest to them. Closest to them personally and sometimes, geographically.
It's no secret in referral marketing that people choose to do business and give business to those they know, like and trust. I find it very interesting that the largest networking organization in the world, BNI, has thrived during every recession it has experienced. In fact, it's current motto is "I refuse to participate in a recession!" Dr. Ivan Misner, founder of BNI, has said that people seem to find "networking religion" when times get tough.
People who have been successful at building deep, long lasting relationships will thrive throughout this period. People who have developed extensive databases of contacts with no real substance to the relationship, just might find it more difficult to get people to help them. If that's the case, consider it a wake-up call and begin developing relationships that truly mean something to both parties!
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