When networking, you are given the opportunity to educate the other person on what you do. I wouldn't give them a whole presentation but you have the chance to tell them 2 or 3 sentences about what you do. This is your elevator speech, abbreviated. This is something you should always have planned out and memorized. For example when meeting someone and they ask what I do, I say, "I own a social marketing company that provides social media consulting, management and training for businesses of all sizes." I know mine is one sentence, but I like to keep it short and sweet. It should be something that will also prompt questions.