Networking is a tool for meeting people. It can be performed online, or in person. It has real costs of time and often some money.
There are so many free and paid options. You can find lots of free-flowing or slightly structured meetings. You can also find highly targeted ones that are totally structured like a BNI or Vistage.
Finally, there are those one-on-one meetings like I had with Chip and Sarah. I also do at least 2-3 get-to-know-you Zoom calls each week.
All of those have one cost that is either overlooked or avoided. TIME!
How much does it take to acquire a new customer? It’s a very findable number if you add up all the tools and expenses you pay for. Often overlooked is the staff or C-level time to network, have a one-on-one meeting, and talk with referrals.
We tend to lump the time we spend on networking, relationship building, and meetings in general as the Cost of Goods Sold. It’s generally recorded as salary but rarely tracked as a system.
Documenting interactions and meeting with your team to discuss that can do more than create business, it can help you all get the pulse of the current business climate and the community at large.
“Technology is a compulsive and addictive way to live. Verbal communication cannot be lost because of a lack of skill. The ability to listen and learn is key to mastering the art of communication. If you don’t use your verbal skills and networking, it will disappear rapidly. Use technology wisely.”
– Rick Pitino
In this episode, we will discuss how networking can be tracked as an ROI in your business!



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