Frank’s Friday Words of Wisdom 16.0

Frank’s Friday Words of Wisdom 20.0

Words of Wisdom and Inspiration for the Aspiring Entrepreneur from Frank Covich, Founder of the National Association of Independent Business Brokers (NAIBB)…

by Frank Covich

Building Your Business Network:  You’re Never Alone

Are you thinking about starting a new venture and feeling a little scared and apprehensive?  That’s normal.  Today’s “Words of Wisdom” message from me to you is this:  Relax.  You can build a solid network to help you and find all kinds of support out there.

Here’s the definition of networking, as described by Susan Ward…

Business networking is the process of establishing a mutually beneficial relationship with other business people and potential clients and/or customers. The primary purpose of business networking is to tell others about your business and hopefully turn them into customers or friends who might lead you to customers.

Chances are you already have a collection of business friends, people you buy from, relatives, health club contacts, party friends, work friends and more.

As you develop your new business venture, take note.  You can develop a steadily growing natural network of contacts by starting with the people you already know, and any contact can be a resource.  If you stop and really think about it, you most likely have a better network at your disposal than you realize.  Plus, today people can connect instantly through social media.  It’s a great platform to use in promoting your business activities and for seeking out contacts with others.

Here is a great example of a networking story featuring a great friend of mine named Tom.  Tom works in a lumber mill doing fine-wood products manufacturing.  One day he discovered that when people take home scraps of throw-away wood from construction projects and burn them in fireplaces and wood stoves, something very interesting happens…when they call for their annual chimney clean out, the inspectors would say that their smoke stack was clean.

What Tom found is that pure, high-grade, kiln-dried wood, of which those scraps were made, does not have bugs or toxins, and it burns clean with almost no ash.

As the story goes Tom developed a fire log product by grinding the scraps into tiny particles and molding then into logs.  He packaged them into six-log bundles.

Then his networking opportunity came into play.

Tom met a buyer for a chain of stores that sold among other things hardwood split logs, which burn rough and had other undesirable features that cause toxic buildup.  He asked his contact to try some of his company’s new concept product.  They did, and their customers loved them.  So now Tom’s networking strategy is paying off.

This is a unique story about how being aware, being creative and having the courage to ask the right questions can really pay off.  Tom’s product is one of a kind because of how his company is structured.  Regionally the product would be almost impossible to duplicate.  Tom took special high-quality wood waste and turned it into a dynamic product.

This one networking idea will turn into an ongoing bonus for Tom as they create more logs and find additional places to sell them.

Networking is a way of thinking.  It’s a way of life for many business people.  If you are starting a new business venture, think networking.  Think about where you are in the evolution of your business and how to expand your concepts.  Build contacts, realizing that even the most casual acquaintances can become something.

Another quick story…

A friend of mine wanted to make some new friends, so I suggested she start a book club.  You can place an ad free on Craigslist, I told her. I wrote the ad stating the age bracket and the following message:  “Trying to meet some interesting ladies who want to gather, start with a book, read chapters and meet up once in a while to network.”  The results were, Wow!  Other people made contact because they felt they were in the same boat.  They just needed a leader to follow.  This group is forming.  These people will support each other’s businesses or hobby-focused activities. Their circle is getting bigger, and yours can too.  In facts, yours can become extensive and virtually limitless, helping to enhance your well-being and career in many ways.

Take a shot at owning your own business.  Expand your network by creating new friends.  Be proactive. Reach out using the concept of networking, and you’ll soon see that you’re never alone.  Go For It!

To consider my program, which guides you in understanding both the science and art of business brokerage and in getting started fast, economically and with total confidence, please visit www.bebizbroker.com.

And for information on other great business opportunities, please visit www.shopabizop.com.

Get involved.  Do your comparison research, and you’re sure to find a new business venture that is just right for you.

 

All the best,

Frank Covich

January 18, 2019

VISIT MY LISTING ON THIS SITE

3 thoughts on “Frank’s Friday Words of Wisdom 16.0

  1. Good one Frank. Lot’s of people would do something if they had some support.

    A suggestion for another one… the lost time room and how lost time works on an individual level to diminish one’s effectiveness

    1. These examples of business applications, planning and techniques are exactly what I studied in graduate school . They are called “Case Studies”. I spent two full years in graduate school with my mind focused on the future . Keep in mind if you want to be successful you have to fail your way to success. Don’t be afraid to make decisions and the resulting mistakes. Some will work and some won’t . If that was the case we would all be successful . If you are afraid to make a decision or a mistake then you will not get far . Our past president said “we didn’t build it” but we did . When I started my first business I worked 7 days a week, and as many hours that it would take each day to get the job done. I failed at my first 5-6 businesses but I kept on going . And then one day I had an overnight success. We built it .

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