Dec. 08 - 14, 2006

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Law and Small Business
An invaluable resource for advice: networking
By Stephanie Tavares / Staff Writer

Mike Micone, owner of Accountants Inc., talks about networking during an interview at his company offices last week. Micone gets advice from a group of businesspeople in Southern Nevada that he met through networking groups.
Photo by Steve Marcus

Michael Micone was in a panic.

One of his top employees had left his accounting firm, Accountants Inc., and he had no idea what to do next.

Luckily, he had a network of mentors, advisers and fellow businessmen to turn to.

"I called a colleague, and he just laughed and said, 'I can remember when I had someone walk out on me as well. Find your focus and start working towards fixing it.' Actually, it took a lot of the stress off of me and allowed me to move forward," Micone said. "I had a plan."

Micone has met dozens of businessmen who have become friends and advisers through various business and civic organizations of which he is a member. Some consider him a master networker. He estimates he has a close circle of about 100 business contacts in the valley who he regularly meets with to discuss business or community projects or just have lunch.

Building a network of businesspeople with whom to share experiences is the best way for business people to learn, he said.

"I don't think any class can prepare you for starting a business. What you learn in school is only a fraction of what you need to learn," he said. "I have several business mentors who I've called on and vented. They're also a businessperson, so for a lot of things I'm facing, they've already been through it. They have that perspective."

The key to forming those relationships, he said, is getting involved in the community. It's not enough to simply join a chamber of commerce or two. If you join a group, become a ember of a committee or volunteer with programs and fund-raisers. That allows businesspeople to get to know others in the business community on a more personal basis.

"I think it's critical for a business at some point to get involved in a level they can manage to participate," he said. "Obviously when you're starting a business your time is limited. I joined the (Las Vegas) chamber first and became a navigator, to help other businesses new to the organization. ... A lot of people join and expect it to just work. By just passing out business cards. But it's not that simple. You have to give back. That giving then develops into relationships that then foster business."

He said it's more important to have a meaningful interaction with a small group of people than to collect thousands of business cards.

"It's about being natural, you do what comes naturally and people see you as sincere," he said. "If you go into networking as a way to help others, that's the best way to do it. People can read your intentions through your interaction."

It's an approach that can hardly fail, said North Las Vegas Chamber of Commerce President Sharon Powers.

"It all goes back to relationship building," she said. "You can become a member of the chamber for various reasons. If it's really that they need to network their business, getting involved is the perfect way to network because it puts a face to the name and as people get to know you and are working with you on a committee or a project on the chamber, they get to know you as a person and it brings a certain familiarity."

The North Las Vegas chamber makes a concerted effort to teach members to network in ways that produce results. The group holds luncheons for small groups, like women business owners, and has an annual Power Networking event in which business people are shuffled around the room to meet one another for short conversations. She calls it the Cliffs Notes of networking and compares it to speed dating for business contacts.

She said that while joining committees is the most effective way of creating a strong busines network, there are things that people with little time on their hands can do as well. She said one of the biggest mistakes people make is in simply collecting a giant binder of business cards, but not following through. She recommends writing a quick note on the back of business cards after meeting someone and e-mailing them the next day to say how nice it was to meet them.

"It reaffirms that connection," she said.

That person will be more likely to remember you - or at least your name - the next time you meet.

Another big mistake people often make is going to networking events with groups of colleagues or only chatting with business associates they already know. She points out that while this may be more fun, it does not allow you to meet new people.

"Get out of your comfort zone. So many times you gravitate toward people you're most comfortable with. That's a real mistake. Don't sit with each other, go out and talk to other people," she said of people who attend with colleagues. "Have lunch together some other time. Because if you only talk to them and you've come to this event with the intent of networking, you've failed miserably."

Both Micone and Powers said it is important for businesspeople to make business acquaintances from across the spectrum. You never know when a contact in a totally unrelated field will be able to help you, whether it is with an introduction or referral to a new client or with advice on how to proceed with a business deal.

  • The North Las Vegas Chamber of Commerce is holding its Volunteer and Member Recognition Luncheon Dec. 14 at Santa Fe Station (4949 N. Rancho Dr.). For more information contact the chamber at 642-9595.
  • The Nevada Small Business Development Center is holding a Disadvantaged Business Enterprise certification workshop from 9 to 10 a.m. Dec. 12 in building 100, room 103 A of the UNLV Paradise Campus (851 E. Tropicana Ave.). Pre-registration is required. For more information call 895-4270 or log on to www.nsbdc.org/education/calendar.
  • Stephanie Tavares covers small business and law for In Business Las Vegas and its sister publication, the Las Vegas Sun. She can be reached at (702) 259-4059 or by e-mail at stephanie.tavares@lasvegassun.com.

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