Importance of Business networking
Business networking is the process of establishing a mutually beneficial relationship with other business people and potential clients and/or customers. The primary purpose of business networking is to tell others about your business and hopefully turn them into customers.
We highly recommend business networking as a way to gain new clients and to build a sustainable business. Here are the some benefits for business owners of getting involved in networking:
1. Generation of referrals/Increased businessThis is probably the most obvious benefit and the reason most business owners decide to participate in networking activities and join networking groups.
The great news is that the referrals that you get through networking are normally high quality and most of the time are even pre-qualified for you. You can then follow up on these referrals/leads and turn them into clients. So you are getting much higher quality leads from networking than other forms of marketing.
The increase in business from networking is the major advantage, but there are many others as well.
2. OpportunitiesWith a motivated group of business owners comes an abundance of opportunities! There are always lots of opportunities that come from networking and in fact this is where the benefits of business networking are huge!
Opportunities like joint ventures, client leads, partnerships, speaking and writing opportunities, business or asset sales… the list goes on, and the opportunities within networking are really endless.
Just make sure you are jumping on board with the right opportunities and don’t go jumping into every opportunity that comes your way. The opportunities that you get involved in should align with your business goals/vision, otherwise you might find that you are spinning your wheels chasing after opportunity after opportunity and getting nowhere.
3. ConnectionsBusiness networking can benefit your business in so many ways. Give it a try and reap the rewards for yourself.Business networking can benefit your business in so many ways
“It’s not WHAT you know, but WHO you know”. This is so true in business. If you want a really successful business, then you need to have a great source of relevant connections in your network that you can call on when you need them.
Networking provides you with a great source of connections, and really opens the door to talk to highly influential people that you wouldn’t otherwise be able to easily talk to or find.
It’s not just about who you are networking with directly either – that person will already have a network you can tap into as well. So ask the right questions to find out if the person you are networking with knows who you want to know!
4. AdviceHaving like-minded business owners to talk to also gives you the opportunity to get advice from them on all sorts of things related to your business or even your personal life and obtaining that important work-life balance.
Networking is a great way to tap into advice and expertise that you wouldn’t otherwise be able to get hold of. Just make sure you are getting solid advice from the right person – someone that actually knows about what you need to know and is not just giving you their opinion on something that they have no or very little experience in.
5. Raising your profileBeing visible and getting noticed is a big benefit of networking. Make sure you regularly attend business and social events that will help to get your face known. You can then help to build your reputation as a knowledgeable, reliable and supportive person by offering useful information or tips to people who need it. You are also more likely to get more leads and referrals as you will be the one that pops into their head when they need what you offer.
6. Positive InfluenceThe people that you hang around with and talk to do influence who you are and what you do, so it is important to be surrounding yourself with positive, uplifting people that help you to grow and thrive as a business owner. Networking is great for this, as business owners that are using networking are usually people that are really going for it, positive and uplifting.
7. Increased confidenceBy regularly networking, and pushing yourself to talk to people you don’t know, you will get increased confidence the more you do this. This is really important as a business owner, because your business growth is very dependant on talking to people and making connections.
Networking is great for people that aren’t confident as it really pushes them to grow and learn how to make conversations and lasting connections with people they don’t know.