Rescue Desk

A friend of mine is editor-in-chief of a popular local arts-and-entertainment magazine in the Milwaukee area. She is an extremely gifted writer, and the first thing I always flip to when I get my copy is “The Editor’s Desk” letter, where she draws on her sharp wit and quick intelligence to muse about everything from business to politics to raising a family.

This month she wrote of “mavericks and leaders,” and it gave me pause to think about how I envision the future of my own little business, and that of my growing number of entrepreneurial friends.

She writes about the paths taken by free-spirited souls, and considers the inevitable fork in the road when the world’s mavericks need to decide if “fulfillment lies in the initial dream or the cultivated goal.”

“Mavericks are the mythic darlings of American culture,” she writes. “They work tirelessly in pursuit of the personal goals while bowing to no man; they are the innovators, the self-made millionaires, the rock stars. They don’t punch a time clock. For hard-working free spirits, this is probably the best life imaginable…

“One thing not taught in maverick school, though, is the catch: the successful ones will find themselves at another fork in the road, and they’ll have to make a choice: to stay free and accept the limits of the one-man band, or to build something larger than one person can achieve. ..”

The conclusion of her essay turns to the important implications of having mavericks-turned-leaders at the helm of change and innovation (especially in an election year). Although, I think anyone working hard at blazing their own unique trail may find themselves reflecting on their own need to cultivate the direction of their free-spirited vision.

Mavericks and Leaders   
-Vital Source magazine (July issue)

Since launching my business earlier this year, a huge part of my time is spent networking. After all, I own a heavily referral-based business, and the more people I meet, the larger my client base grows.

But, I recently went through an interesting exercise with a consultant friend of mine, who asked “How much are these events costing you?”

“Um … well … I leave from these events with the same amount of money I went with … so … nothing?”

I knew it was the wrong answer, but I wanted our conversation to segue into my friend’s area of expertise — cost-effective networking.

I’d never put any hard numbers behind my networking. Thankfully, I’ve been pretty lucky just relying on word-of-mouth combined with a little research, and I’ve found success at most of the events, speakers and meetings I’ve attended. But, our conversation was a reminder that my time is valuable, and that it’s OK to cherry pick.

Having a basic idea about a group’s membership or event’s attendees is an obvious place to start. If your business caters to other businesses, for example, attending Chamber events or checking out local referral-networking groups is a no-brainer.

But, don’t stop there.

Pull out your business plan and take a look at your ideal clientele. How large is your ideal client? Five employees? A hundred employees? What’s their estimated annual revenue? Can they easily afford and appreciate the value your business provides?  Which department do they oversee? Accounting? Human Resources? The whole enchilada?

Find out where these folks hang out – it could be industry association meetings, a monthly happy hour, or even in an online networking group.

Another thing I’ve found, which can sometimes fly in the face of your research, is to pay attention to your gut and watch the interaction.

I once attended a weekly referral networking group as the guest of a business acquaintance.  I did my due diligence ahead of time, and it seemed like it could be the perfect fit … the representative businesses fit my clientele criteria, the weekly meetings fit into my schedule, and I appreciated the group’s vision.

Well, while the businesses certainly fit my client base, it turned out very few of the attendees were the decision-makers I needed, nobody came up to say hello or introduce themselves, and 95% of the referrals were one member simply using another member’s services … I knew I’d burn through that pretty quickly.

So, before filling up your calendar with networking events and meetings, take the time to determine the investment you’re making. Ten or 15 minutes of quick research could mean the difference between a few hours of potentially wasted billable time or finding yourself in a room full of potential clientele.