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According to the country's biggest business referral organisation the current economic climate means that the 'old days' of casual business networking have probably passed their 'use by date'.
This year celebrating its 10th anniversary, BNI New Zealand has experienced phenomenal growth, regularly claiming international awards for 'market penetration' and 'highest average number of members' per networking group (chapter) - no mean feat when you consider that BNI International is more than 25 years old and active in more than 40 countries.
NZBusiness spoke to New Zealand director Graham Southwell about business networking. What's changed, what works, and what doesn't work?
NZB: What do you mean by casual networking, and why has it changed?
GS: Generating new business or growing your network by attending wine and cheese type functions where you make casual contact with people for the first time has always been hard work. People cluster in groups with people they know and when you make an 'approach' to someone - no matter how good you are at it - that person invariably knows you're 'chatting' them up or feeling them out with an ulterior motive. Most people are instinctively cautious, but formal and polite.
At the moment, I would suggest we're working a lot harder to generate the same amount of money that we were doing this time last year. People are pressed for time. Redundancies are increasing. Insolvencies are up - trust is an issue. It's difficult enough getting people to part with their money, so a total stranger is facing an uphill battle.
There's also a risk for the company that's getting the business in this scenario. If...