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Stop Networking: Start Building

Traditional networking tends to focus on connecting with as many people as possible. But simply handing out your business card or talking up your business to others does not necessarily foster trust or build strong relationships.

Those who engage in regular networking activities or events should shift their goals from simply increasing their number of contacts to building quality relationships. Since the overall purpose of networking is to connect with others who can help you, as well as you help them, having strong relationships, communication and trust is fundamental. After all, there is no point knowing 100 people if you only feel comfortable reaching out to two of them.

Business owners should view interactions with others at networking events as opportunities to develop true relationships. This kind of approach can help get to know others on a deeper level, and create more meaningful, natural connections. Having no expectation or pressure to connect with someone means that when or if you do connect, it is genuine and authentic. There is also no obvious underlying motive for the connection that only benefits one party, which can increase the development of trust between the two parties.

Focusing on building relationships also makes the process of following up with contacts a whole lot easier. Businesses will also have fewer people to contact because they’ve spent more time communicating and sharing with fewer people, instead of more people. And when you reach out to these contacts, you may find that you have something interesting or important to say, that has carried on from your previous interactions.

Here are some key points to keep in mind that may help you steer clear of the traditional networking mindset at the next networking event:

  • Strive to have fewer sincere and genuine conversations with others, rather than aiming to have shorter talks with many people.
  • Spend time getting to know the people you talk to, and think of how you could help them. Giving a little now can help in the long run if you ever need their help.
  • Aim to just talk to people. Don’t think about whether or not the person you’re talking to will help you to become more successful in your career.
  • Think of some interesting ideas or experiences that you can share with others. Keeping these in mind can help when striking up a conversation with someone new, as they allow you to start a conversation. Don’t be afraid to talk about and connect through different topics and experiences, such as school memories, hobbies, pets or even television shows.

If you’re someone who often finds it difficult to make large lump sum payments for goods or services, you may want to consider looking into “Buy Now Pay Later” services.

Buy now pay later essentially means that, rather than paying in a full lump sum payment for a product or services rendered, there may be an option to pay through instalments of a certain amount over a set period to make the sum of the full amount in total. This method should allow you to pay in full for the product or service without overly straining your finances – you pay back what you can, as agreed upon when you begin the buy now pay later service.

Some popular buy now pay later services include Afterpay, Zip Pay, Brightepay, and some credit card networks such as  Mastercard and Visa, can offer buy now pay later arrangements.

Though it can be a convenient, immediate solution, it may be challenging to juggle the necessary repayments with other financial commitments. It’s not always the most appropriate method for people, and you should bear in mind your situation and ability in paying back the amounts. 

Before you sign up, keep in mind: 

  • It becomes easier to overspend with buy now pay later services, so know your limits on what you can and can’t afford.
  • You will be charged fees and costs to use the service, which can add up to a princely sum in and of itself.
  • Keeping track of your payments can be tricky if you’ve signed up for multiple services.
  • It could affect your loan applications for a car or mortgage as lenders consider buy now pay later spending just as much as your credit score.
  • Late repayments can appear on your credit report, which affects your ability to borrow money in the future.
  • Layby can be a cheaper alternative to buy now pay later, with no account-keeping or late fees to consider

If you are someone who could make use of BNPL services, you may wish to:

  • Ensure that when using the BNPL service, you stick to a set limit on what you spend so that you can comfortably pay it back later. 
  • Aim only to have one BNPL account at a time to manage payments through, rather than confuse yourself with multiple payments across different providers.
  • Always budget for bills, loan payments and BNPL payments, and 
  • Rather than use your credit card for payments to your BNPL account, consider linking to your debit account instead.

If you would like assistance in planning your financial future, help in managing your budget or some friendly advice, see us for a chat about what we can do for you.

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John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier

David and Alison Parker

I have been consulting J L Noller and Co. (more specifically Jane) for six years and during this time I have found her to be professional, efficient and easy to discuss all accounting and taxation matters with. Her office team are all polite and friendly also.

David and Alison Parker

Business Owner

Carl Gillmore

I have used Jane & the team for the last 6 years for all of my business & personal accounting needs. They have always been professional, easy to talk to & available when we have needed assistance.

Carl Gillmore

Carl Gillmore Landscape

John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier