No matter what function within Order-to-Cash, the key to success and creating a positive customer experience, is in building relationships!

Paul Austin

I’ve spent the past 28 years in the refrigeration appliance market, and working with less than 30 clients. It has been a few large customers that have taken my focus and brought in 80% of the sales revenue. I am well known in this niche industry, having lived and worked in 4 countries, and visited many more. From one perspective, you could say that I was a big fish in a small pond!

Now, I am changing my career and I have the challenge of building new relationships with a potential of over 10,000 new clients! And suddenly, yes… I feel like a minnow in a large ocean..!

Exciting or scary biscuits?

The one piece of advice that I hear over and over…

“Get out there out and NETWORK!”

Common sense tells me that it’s the right thing to do. I understand the value, especially within the B2B environment: no relationship = no business!

All the statistics support the fact that networking not only helps you start a career or a company but also helps you succeed at it.

Novoresume.com have pulled together some interesting statistics in their article 25+ Surprising Networking Statistics [Relevant in 2022] – https://novoresume.com/career-blog/networking-statistics – which demonstrate the importance of networking to develop business relationships.

Networking is one of the most important ways to find and keep customers. The close rate for meetings is 40%, meaning that in-person meetings end in a sale or deal almost half of the time.

Furthermore, 75% of customers either require or prefer in-person meetings, meaning that you can lose clients simply by not meeting them in person.

The refusal to network with customers can also affect business profits. Executives reveal that they’d lose 28% of their business if they stopped networking.

Networking also provides a source of information for Credit evaluation and brings in “soft” information from prospects. Having professional and established relationships helps cash collection and dispute handling.

Professional networking is a constant source of inspiration: learning about different organisational approaches; best practice; disruptive technologies; and supplier solutions.

It’s been difficult for the past couple of years due to COVID, but there is no question that networking is important and valuable!

But… what if you find the notion of “networking” rather daunting?

As Senior Executive for the past 15 years, I’ve had my fair share of business relationships with clients, partners and vendors. I built those relationships on sound technical expertise and know-how that gave me the confidence to interact with anyone from the CEO of a global corporation or a technical engineer working in an offbeat development laboratory. It wasn’t always like that! I still remember the first time I picked up the telephone at the age of 23, with my heart rate racing with anxiety at 160 bpm!

And even now, the notion of “networking” doesn’t exactly float my boat!

As a Myer’s Brigg’s INFJ personality type, I put myself into the “Introvert” bracket that still finds it a challenge to go out into unchartered waters, whether it’s a new encounter with an individual, or an anonymous attendance at a large conference. However…

If you think that Networking is not for you, then think again!

Many self-described introverts think that the networking field is just not built for them to successfully play the game.

Walking into a room like they own it, striking up a conversation with a stranger, and dazzling people with their ease and charm — those are the “perfect” ingredients that seem to be required in order to win at networking.
If you recognise that’s not you, then should you give up before making a start? Or would you think twice, and give it a go?

Is there any hope for the introvert?

YES, there is! Especially when we take an honest look at what it really means to be introverted. Common misperceptions include such myths as “introverts hate being with people,” “introverts aren’t good at interacting with others,” and “introverts need to be rescued from social situations.”

Those myths could not be further from reality. Introversion and extraversion merely point to the way individuals prefer to recharge. Introverts tend to build up their energy in a quiet space by themselves, while extroverts get energized when surrounded by people and activities. It’s important to remember that introversion, just as extraversion, is simply a preference and a tool. Those who understand it, accept it, and create a strategy to use it for maximum benefit may find that introversion is the secret sauce of success!

Introverts can network with great success!

I’ve taken inspiration from Rick Turoczy talk on “building community, an intervert’s guide” where he talks about building community and “connecting dots” – building relationships and networking: –

1. “Introverts can be comfortable with being uncomfortable by “collecting dots” and connecting dots only that willing individuals can see.”
2. “…upon reflection, that dot stops being a single point of reference. It finds context. It finds connections. It finds a place among all of the other dots I’ve collected.”

Whether you are extrovert or introvert, or somewhere in the middle, the message here is to understand the value of introspection and reflection. Take a moment to stop and reflect, and the dots will connect more easily!

Blended Networking

These days, we often hear the terms “blended” or “blending”. For example, in my new training company Klass Academy, we are advocates of “blended learning” themes to maximise knowledge transfer and retention. Mixing or “blending” digital training, virtual coaching, and live courses – with gaming and a practical approach, with some fun thrown in… – it’s common sense! It makes life more interesting and enjoyable; stops us from going stale, and gives us multiple opportunities to learn and grow.

I think it’s the same with networking. During the past couple of years there was a massive shift to on-line and social networking. For the natural introvert, maybe COVID was a blessing in disguise? For those extroverts out there, it has surely been a difficult time. On-line meetings are safe, flexible, and time-saving and cost effective. Still, there’s nothing like have a face-to-face meeting!

Blend the 2 together, and I reckon you have the most effective way to build your network!

A new era

After 2 years of COVID-19 – with limited human interactions and little face-to-face meetings, I’m now looking forward to a new era of networking opportunities. Yes – I’m still going to attend those digital forums and online meetings. In addition, I’m looking forward to meeting those 10,000 new clients face-to-face! Well, at least some of them!

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