Bsbrel401A Establish Networks

Topics: Business terms, Business process, Management Pages: 11 (2919 words) Published: April 30, 2013
PAssessment Activity Part 1

PAssessment Activity Part 1

a. What is “networking”?

Networking is anything that involves meeting, communicating and connecting with others, so that you may share knowledge, skills and practices for the benefit of everyone concerned.

Networking could be attending a specific Networking event such as BNI, connecting with people in your same industry or area of interest, meeting people, having coffee with new people, attending conferences and seminars in your area of interest, speaking at an event, attending trainings, etc.

Networking doesn’t just have to be face to face, it can be using Facebook, LinkedIn, or your own web or blogging site.

b. How can it benefit your business?

* Bring you a regular supply of new business
* Improve your self-confidence and self-esteem
* Learn new ideas, industry tips, trends and information
* Meet new friends and/or gain a support system/network
* Develop leadership skills
* Raise your personal and business profile

2. List five (5) organisations/groups that could provide networking opportunities for your business. Describe the benefits of each.

4Networking – Online networking plus breakfast meetings, several groups around Sydney, being a member allows you to attend any breakfast meeting, anywhere. You get 40 seconds to make your ‘elevator pitch’, 5 minutes to book your ‘1-2-1’ meetings, then there is a ‘4Sight’ slot which is an insight into a members industry, which is followed by 3 x 10 minute ‘1-2-1’ meetings. Membership is $795 per annum.

Sydney Biz Connection – Meets at a restaurant quarterly in the evening, 10-15 minute presentation by a member, speed networking, can continue discussions over drinks after the main event.

BNI – BNI is perhaps the largest networking group in the world, with 150,000 members in 6,200 chapters in 53 countries. BNI meetings are held weekly, and all members are expected to attend every meeting, or send a substitute. The heart of a BNI meeting is the ’60 Second Speech’ where you make your elevator pitch. Free Speed Networking Sydney – Evening event, meet someone new every 5 minutes, you won’t get stuck talking with someone who is not a match for your business, social lubricant (aka alcohol) is provided, you will get to meet and exchange details with at least 6 people on the night, won’t have to sit through a long speech that may not apply to you, and it’s free.

Flying Solo Micro Business Community – Flying Solo conducts fortnightly ‘Meet-ups’ which are informal gatherings of solo/micro businesses, meeting for the purpose of building relationships and mutual business support. There are 50,000 members in Australia and membership is only $7.95/mnth.

3. Attend three (3) networking events and for each event provide the following:

a. Diary of the event. (date, time, event description, reason for attendance)

Custodian Kick Start – 28th March 2013, 09.00 – 13.00.
To gain latest information in residential property investment, and meet new people.

b. How did you come to learn of the event?

Through regular emails, letters and phone calls promoting the event. I am a client of Custodian.

c. Provide evidence of establishing at least two (2) contacts (Business cards/email) and describe your thoughts on how these contacts may contribute to your business.

Peter Swensen – Senior Executive at Accenture (Business Consulting). I met Peter at the event and subsequently we met for breakfast to allow Peter to ask me questions about property investing. I was able to use this meeting as an opportunity to build a new relationship, and in the future to use this contact when I want to promote executive coaching.

George Siourounis – George is a fellow property investor who runs his own telecommunication business. From our brief chat I was able to establish that George wanted not only to be able to expand his business, but also get into a serious long...
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