Author: Greg Hewitt-Long – TableTop Networking

The Power of the Buddy Meeting in Networking

As entrepreneurs, we understand that networking is the lifeblood of our business growth. However, it’s not just about collecting business cards; it’s about building meaningful relationships.  It’s also important to know that if you refer one of your partners, that they will take care of that referral in a manner you know is consistent with your expectation of how you would wish them to be handled. That’s where the concept of a buddy meeting comes into play.

Why Follow-Up with a Buddy Meeting?

After meeting a new contact, it’s crucial to follow up with a buddy meeting. This informal catch-up allows you to dive deeper into understanding each other’s businesses and goals. But more importantly, it’s a way to connect with the other person.  After-all, people do business with people they know, like, trust and value, and it’s vital that you understand the motivation and drive that your new contact has, to ensure they match your expectation of everyone else in your referral network. It’s maybe the first opportunity you have to move beyond the surface-level interactions of a typical networking event and foster a connection that could lead to tremendous mutual growth.

Buddy Meeting vs. Sales Meeting

A buddy meeting is quite distinct from a sales meeting. While a sales meeting focuses on pitching your product or service, a buddy meeting is about mutual discovery. It’s a relaxed conversation where both parties share insights, challenges, and aspirations without the pressure of closing a deal.  You might start with what brought your new contact to the area, or this type of business.  Knowing what they do for hobbies or in their down-time might well give you tremendous insight into their motivation and drive, it’s much less about business than learning about the person.

Sharing Time Equally

One of the keys to a successful buddy meeting is to share time equally. It’s not just about talking; it’s about listening. By learning about the other person’s motivation or “why,” you gain a better understanding of how you can support each other. This balanced exchange lays the groundwork for a strong professional relationship.  We recommend that you divide the time equally and set a timer.   Both of you are most likely very busy and sharing the time equally is fair and respectful.  If one buddy meeting isn’t enough time to explore the new contact’s background, that might be a sign that you have a very interesting contact here, and maybe it’s time to setup a 2nd buddy meeting.

Quality Connections in Your Referral Network

Your referral network should be a curated group of high-quality connections. These are individuals you trust and who understand the value you bring to the table (or vice-versa). By bringing in contacts who meet these criteria, you ensure that any referrals you make will reflect well on you and genuinely help those you’re connecting.  

Finding Strategic Partners

Buddy meetings are an excellent way to identify strategic partners. These are individuals or businesses that complement your offerings and with whom you can collaborate on projects or initiatives. By understanding each other’s strengths and market positions, you can create synergies that benefit both parties. We firmly believe that you need a solid network of professionals that you can rely on, because in the journey of entrepreneurship, you won’t be doing it all yourself and you need to have quality business professionals you can depend on.  These very people you use for products and services are ideal referral partners, they’re not just the person you call when you need something, they’re the person you can send your fellow entrepreneurs to with an expectation that they will take care of your referrals also!

Referral Partners and Quality Contacts

Beyond strategic partners, buddy meetings can help you find referral partners and quality contacts. These are professionals who may not directly align with your business model but are valuable additions to your network still. Maybe these are contacts you might not need often but are important to have a quality contact none-the-less.  Trades such as plumbers and HVAC contractors might not be on your “we need every week” list unless you’re a General Contractor or property developer, but knowing a couple of each can be very useful if your sewer backs up, or your air-conditioning fails.  Equally likely though, are services that you use within your business at important times, such as a printer for business cards when you onboard a new employee, or a HR professional. These are often external contacts you can confidently refer your contacts to, knowing they will receive the same level of care and professionalism you provide.

Conclusion

In conclusion, the buddy meeting is a powerful tool in an entrepreneur’s networking arsenal. It allows for the development of meaningful connections that go beyond transactional interactions. By investing time in understanding your contacts and nurturing these relationships, you create a network that supports not just your business’s growth but also the success of those within your circle.