Building strong business networks

In a fortnightly diary series, Choice’s broker support team take us through the everyday ways they help brokers to build successful businesses. This week, Choice Partnership Manager for NSW, Kiky Tse, discusses the importance of networking and educational events for brokers.

Networking is a critical business building tool for brokers, especially if you’re new-to-industry or going it alone. But strong business networks don’t just happen overnight.

One of the key benefits of joining a national aggregator is the opportunity to attend a broad range of networking events, which allow you to meet with peers, lenders and thought leaders from all corners of our industry – as well as outside it.

These events also facilitate continued education, allowing you to keep up to date with economic and industry information so you can always be on top of your game.

Here are my top tips for making the most of your aggregator’s event calendar.

Plan in advance
Most aggregators plan a whole year’s worth of events at the end of each year, allowing members to plan their calendars in advance. So try to incorporate your event plans into your broader annual business strategy.

A good starting point when deciding which events to attend is to consider your business’ key goals for the year ahead. Is the goal to diversify into a new business area, establish a partnership with another broker or share best practices with other businesses? Select events that will support your individual needs.

At Choice, our professional development program consists of over 100 sessions per year which allow brokers to share and champion their considerable knowledge. These range from Business Development and Commercial Business Development days attended by hundreds of members to lender networking sessions and more personalised peer-to-peer coffee catch-ups.

Know what you want
Before you attend any event, ask yourself why you are going and what outcomes you are looking to achieve. Set yourself some goals, such as meeting three new people or talking to one of the speakers you’re really interested in. Perhaps you’d like to speak to a lending representative about a particular challenge you’re facing. Knowing what you are hoping to accomplish head of time will help you to stay focused.

If you are new to the industry or have a specific business issue or area you would like to improve upon, ask your aggregator representative to facilitate an introduction to someone who is particularly strong in that area. We find our members are always happy to share information to help others to improve and grow their businesses.

Be present
Brokers are busy people and it can be hard to switch off from the demands of running your businesses but if you are attending an event, try to minimise distractions while you are there. Put your phone on silent, ask questions and build a rapport with other attendees. Make your investment worth it.

Kiky Tse is a Choice Partnership Manager for NSW with Choice. This article is part of a series featuring Choice Aggregation's broker support team focusing on how they help their brokers overcome common challenges. Find out more http://www.choiceaggregationservices.com.au/success.

Previous diary chapters:
Recruiting the right people 
Getting the most out of peer-to-peer learning
Ella Moradi on tips for tackling marketing
Making the most of your lending panels
Compliance causing you strife?