Networking: Bob Weir of Pinpoint Business

Bob Weir, a founder of Pinpoint Business and author of the Under 5 Small Business Guide.

Bob Weir and his wife Judy are the founders of the Hamilton-based small business advisory Pinpoint Business. He’s also the author of the Under 5 Small Business Guide.

Can you tell me about the role networking plays in developing your business?

The majority of the clients I gain are through referrals - whether they're from banks, accountants, colleagues in other businesses, or current or past contacts.

Part of what we offer as a small business advisor is a total business solution, and to do this I need to have a really large network of small business support options that I can call on to find a solution for clients. I can really only do this by extensive and continual networking to develop strong relationships and trust.

What are some of the different channels or groups you network through?

With our business we established who our ideal clients are, where they operate and how we can get in front of them. In our case this included all the banks, accountants, small business associations like the EMA, and the Chambers of Commerce and as many businesses that were comfortable to meet with us.

I'm also a member and president of a chapter of Business Networking International, and my wife and business partner is a member of Venus - a small business networking group focused on business women.

As we've developed a network of specialists we can use to to help our clients, we looked carefully at the gaps in our own skills and then thought about who we could approach to fill those gaps - the likes of funders, investors, IT and software developers, accountants, banks, and market researchers.

What are some of the practical things you do to translate the connections you make through your networking into actual business leads, or to otherwise positively impact your business?

I think you have to work at it. You can never expect that after one meeting, or coffee or phone call that people will be knocking down the door to use you. Networking takes time because you're building a relationship based on trust.

So the first practical tip is be in it for the long haul. Networking is a long-term investment, and although you may be lucky to get some quick wins at times, every time you meet someone you should still be aiming to highlight what you have to offer and how it will add value. Over time the hope is it will convert into sales - just don't expect it from day one.

In your work helping small business owners develop their own operations, what are some of the common pitfalls you see they fall into around networking?

People often aren't strategic in their approach to their whole business, including their marketing and their networking. Small business owners are really busy, so they don't have a lot of time, so rather than take the easiest networking option they need to look at what's most likely to build value.

A lot of small business owners stick with the same old forums they're comfortable with, which means it's just socialising, and not networking. But networking is an effort to push yourself as widely as possible into new circles of people who will help in growing your business - not hanging out with the same crowd you're comfortable with.

Given that small business owners are so time poor, how do you recommend they assess which networking opportunities are going to be the most valuable?

Like with any marketing strategy there's an aspect of trial and error to this, and it does also depend on what stage a business is at in the cycle. Especially for early-stage businesses, I'd say it's better to do more networking than less, and then as time goes on you can start to weed out the opportunities that are providing less value than others.

Also, things like networking forums, or other events where there are going to be a large number of people all attending with the purpose of making connections, are going to provide potentially more opportunities than meeting someone for the first time one-on-one over a coffee.

Is it also simply a case that some people are just better at this than others?

There's definitely an element of personality that comes into it. There are the extroverts among us who get their energy from being around other people and enjoy socialising, and because they get energy and enjoyment from these kinds of activities they can naturally get more out of them.

But even if you're more introverted, it doesn't have to be a hindrance - as long as you have a self-awareness of that, and realise that it's still something you need to do to grow your business. The reality is I think that most people feel the same way. Sometimes it's just a matter of taking a gulp and doing something that pushes you out of your comfort zone, but not too much, so you can crack the surface.

Coming up in Your Business: When the days get shorter and colder it can be more difficult to make time for activities outside of work. What are some things business owners do to inject more balance into their days so they also maintain a life outside of work? If you've got a good story to tell about creating work/life balance, drop me a note: nzhsmallbusiness@gmail.com