One positive to come from the pandemic is the growth in the number of new businesses.  Analysis of data from Companies House showed an increase of 32% in the number of businesses registered between January and June 2021, compared to the same period in 2019. 

Other data from HMRC showed that in March 2021 more businesses were created than in any other month since 1989. 

The pandemic boosted some people’s entrepreneurial spirit and encouraged them to start their own business in response to lockdown restrictions or redundancy. 

Starting a new business can feel as daunting as it is exciting, especially if you are an introvert like me. But one of the most important things I have learnt over 25 years in business is how to network – a skill which helped me most in starting and growing my businesses.

In my early career in London, I successfully avoided networking. Until I started work in a Swiss bank in a senior marketing role. It quickly became apparent that my success from that point on depended on networking - I had no choice but to learn ‘how to’ network, as having the right contacts were so important.

However, as an introvert I needed to overcome crippling anxiety and learn how to shut off the ‘little voice’ that kept telling me I had no place at networking events. This is when I started to read the ‘classics’ on how to network, and these days I can vouch for the fact that their tips work – however, there weren’t any resources available to give me the confidence to walk into a room full of strangers and start speaking to someone.

Then one day, at a leadership training event, we were taught ‘self-coaching’. We were encouraged to identify a problem we were experiencing and brainstorm solutions before making an action plan. This is when I developed the VICTORY formula.

This formula can help entrepreneurs embrace their natural abilities as an introvert, grow in confidence and shine while networking. It can help new business owners develop a supportive network to underpin their business success. 

It is also something that can be used in face-to-face networking events or online networking. The principles are the same and encourage people to really think about how they make the most of networking opportunities.

The formula maps out a way forward:

• V is for vision – understand what you really want to achieve in your business, the bigger and brighter your vision, the easier it will be to talk passionately and get over your fear of networking.

• I is for intention – decide what you want most and where your energy should focus, because ‘where attention goes, energy flows.’

• C is for courage – undertaking any new venture takes courage but stepping out of your comfort zone and being brave will build your confidence.

• T is for True – become your best self by understanding your core values – what do you really stand for and care about? This will help you network and meet people as your authentic confident self.

• O is for Obstacles – create a backup plan for when things don’t go to plan and learn skills like conversation starters and rehearse strategies to manage tricky situations such as not knowing anyone in a room.

• R is for Rules – Don’t worry about making mistakes, seek out opportunities that scare you and celebrate all your successes.

• Y is for Yes! You’ve got this! Having the vision, intention, tools, and strategies in place will give you the courage and confidence to turn networking into an enjoyable and successful experience.

Along with using this formula, it’s also important for people to understand that networking is a three-step process – it’s what you do before, during and after a networking event that really determine your levels of success. It is not just a case of showing up with a pocket full of business cards. 

Below are some top tips for networking:

• Prepare ahead for a networking event whether the event is in person or online.

• Work out your vision and intention – what do you want to achieve? Also plan what you are going to wear and ensure your profile information is up to date.

• Rehearse conversation starters and maintainers – this will build confidence.

• Don’t over think it - approach people in open circles, smile and introduce yourself.

• Use open questions to get people talking such as, ‘What did you think of the speaker?’ and ‘What is great with you today?

• Introverts are good listeners so you can play to your natural strengths – good networkers talk just 20% of the time and listen for the rest.

• Follow up thoughtfully with articles and information that can help people – add value to them.

Following the VICTORY formula and preparing well for the three-stages of networking, can reduce feelings of awkwardness and increase confidence to network in meaningful ways and build a network to support ambitions, growth and success.

Melitta Campbell is an award-winning business coach and certified mindset coach who is passionate about helping women confidently build and grow a profitable business and that has an impact they feel proud of.