Don’t Neglect This Key Investment in the Future of Your Business
[This is the second of a two-part feature article. You can read Part One here.]
Hopefully, Part One of this article opened your eyes to the value of networking. Now, let me share a few tips for networking effectively.
First of all, you need to know where to look for networking opportunities. You might be surprised by how many there are, once you truly start to search for them. Here are a few:
- The Clean Show: Clean is the textile-care industries’ biennial convention and trade show; the next one will be held this summer – July 30-August 2 – in Atlanta. At Clean, the CLA and other trade associations representing various segments of the garment-care world host a number of educational sessions that I’ve always found to be quite valuable. What’s more, the trade show exhibit hall is an ideal setting for building your network. Everyone in the laundromat industry is there. But don’t be shy, and never turn down a chance to meet someone new, as you never know how important that relationship may be.
- Industry Conferences and Networking Events: As I mentioned at the outset, the CLA recently hosted an amazing conference in California, loaded with great educational sessions and chances to network with peers at every turn. In addition, the association holds its Excellence in Laundry conference every other year, also boasting strong educational programs and several networking opportunities. What’s more, the CLA hosts a number of in-person Connect LIVE events in different cities across the country each year, which typically include a featured speaker and the chance to talk shop with other local laundromat owners over lunch or dinner. Also, I’ll be holding an educational and networking conference this March in Fort Lauderdale called The Laundromat Millionaire Conference – Everyone’s a V.I.P.
- Distributor Shows: Your distributor may be a great resource for building your local network. If you’re intentional about networking, you’ll discover that many distributors host open houses, small-scale trade shows, educational workshops, service schools and sales events on an annual and sometimes semi-annual basis. These are perfect for meeting other operators in your area or region.
- General Business and Entrepreneurship Events: I’ve had great success attending non-laundromat-specific events and hearing speakers who are not necessarily talking about our business. I firmly believe the at least 80 percent of all business information is very similar across all industries – which means there’s a ton of insight to be gained from other industries. I’ve personally learned a lot from business owners who are not in the laundromat industry.
- Online Networking Opportunities: While the above suggestions are great in-person networking ideas, technology also enables you to network online. The CLA Connect online forum is a great peer-to-peer platform that enables laundromat owners to discuss industry topics and business issues with each other, while also sharing possible solutions. Of course, the internet features a number of laundromat-focused forums and groups, many of which can provide excellent ways to continue to grow your business network, as well as your industry knowledge.
I believe that the more we connect, share and learn from each other, the better our industry will be. With that said, let me leave you with a few tips for when you actual attend your next networking event.
First of all, be open and honest – and try to put aside your nerves. Almost everyone there will be a bit nervous, so don’t let that hold you back. Above all, smile! Your smile makes you approachable. I’ve found that overcoming that initial fear and anxiety usually unlocks the real power of networking.
Next, be a giver – and be genuine about it. It’s not about manipulation. Networking is something the best of the best do on a daily basis, and it truly makes the world a better place.
When you’re always looking to give and help others first, it can become contagious. You’ll often discover that others will pick up on this, and they’ll be attracted to you and your authenticity. Then, when you have a question or a favor to ask, you’ll likely find that those within your network will be more than happy to help you.
If this all seems “too much,” I recommend starting with online networking. When appropriate, allow those online relationships to develop into private messages or phone calls, and then perhaps eventually you’ll be more comfortable at in-person events. It’s incredible how well you’ll feel you know people that you’ve only messaged with in online groups.
Of course, the truth is that nothing builds relationships like being in-person with someone else. There is real power in this environment. But, clearly, it requires a deeper financial investment for travel, lodging and registration fees, as well as an investment of your time.
When I was younger and less financially secure, I’d constantly find myself debating whether or not the travel and expense was worth it. It seemed it was always more practical to spend my time and money on my stores (especially since they weren’t very nice back then).
My last piece of advice: as with most things in life, the key is balance. I would never tell a client or a friend to invest thousands of dollars on travel, education and business events, while neglecting their stores. Most laundromat owners understand and agree with that principle.
What’s all too common is the opposite. We believe we should be investing every minute and every dollar into our laundromats – and that is a falsehood as well. We must find balance, but we must always be investing heavily into our education and our network, even when we think we can’t afford it.
As we enter 2022, let me encourage you to find balance in investing in your future. Invest in your store’s facilities as needed, invest in your operations and team as well – but always be intentional about investing in your education and your network.
Although the quote – “your network is your net worth” – is a cliché at this point, I’ve learned a valuable lesson about clichés. They’re usually true.
