Task 1: Develop Networking Plan for Jetts Fitness (Australia)

This task will require you to develop a Networking Plan for potential business contacts based on your

workplace/organisation's networking objectives, strategy, and policies and procedures.

Use your workplace/organisation's template to develop this task,

To develop this task, you must:

• Access and review your workplace/organisation's goal, strategy, objectives, and policies and

procedures related to networking.

• Identify at least one networking goal, at least one networking strategy, at least two networking objectives, and at least two networking policies and procedures of the organisation.

A networking goal is the outcome that is to be achieved by the organisation. A networking strategy isthe approach to be taken to achieve the goal. Networking objectives are steps to be taken implement the strategy.

• Identify at least three potential business contacts for networking who align with the organisation's

networking strategy and objectives you identified.

Business contacts may include but are not limited to influencers, suppliers, customers, and potential business partners.

• For each contact, identify the networking strategy and networking objective they align with.

These must correspond to the organisational networking strategy and objectives you identified earlier.

• Evaluate the identified potential business contacts by estimating the value of establishing a shared business relationship with them. For each contact:
  • Identify at least one pro (benefit) and one con (disbenefit) of establishing a shared business relationship with them.
  • Estimate the likely annual revenue impact and annual cost impact in dollar terms.

The revenue impact indicates how much the organisational revenue is likely to increase. The cost impact indicates how much the organisational cost is likely to increase.

• Estimate the likely annual value by subtracting the cost impact from the revenue impact.
• Based on your evaluation, select at least two potential business contacts you will network with in the later tasks.

Contacts selected must have a positive estimated value which is higher than the highest estimated value amongst non-selected contacts.

• Identify the subject matter to communicate to each selected potential business contact.

Subject matter refers to what will be communicated to the contacts. This can include information such as the background of the organisations, respective goals and objectives, referral opportunities, and collaboration opportunities.

• Evaluate each of these three methods of contacting each selected business contact.
  • Conferences
  • Professional associations
  • Business networking opportunities (e.g. Breakfast networking clubs, Business networking websites)

For each contact:

• Identify at least one pro and one con for each method of contact.
• Select one method of contact for based on your evaluation.
• Explain the reasoning for selecting the method of contact.

Reasoning may be based on judgment of how the pros outweigh the cons.

• Schedule a time and date for establishing contact with each selected potential business contact based on the networking plan.

Implement this in order of when you will contact each one.

• Outline the sources of information used in preparing the plan and identify the type of information sourced.

Sources of information may include workplace/organisational documents specifying networking objectives, networking strategy, and networking policies and procedures.

They may also include information from industry websites relevant to business networking, and online sources used to identify information for identifying business networking methods.

• Develop your Networking Plan. You will need this later to engage with each of the business contacts and undertake networking in the next task.