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Business Networking – Why is it important for entrepreneurs?

Public speaker and entrepreneur Porter Gale said, “Your network is your net worth.”


Business networking is developing contacts through business and then using them for purposes other than the direct intended reason, for example, asking a customer to help promote your brand through word of mouth.


It is essential for a business to develop long lasting relationships and a good network of connections for the effective outreach of its brand. These connections become the building blocks to a successful business. Networking provides new opportunities for your business in terms of sales, partnerships, new ventures, etc. to strengthen your business goals. Through marketing strategies, networking provides potential client leads that can be converted into permanent customers. If at any point your business needs help – financially or externally – these connections can be your first assistance.


Networking is a personal soft skill and depends on a person’s communication skills. It helps develop confidence and has a positive influence on your overall personality development. Networking with brilliant like-minded people widens the horizon of your thoughts and uplifts your thinking. One can also seek mentorship and advice from these connections. This helps them expand their existing knowledge base. Thus, networking in today’s competitive world is a crucial life skill.


Now how do we network to develop these connections? Here are a few tips and tricks of business networking:

  • Attend business events, seminars and discussion forums to bond with fellow entrepreneurs.

  • Set a goal of what you want to achieve through your network in a given time frame and focus on it specifically.

  • Socialize in the hours you are not working. Do not hesitate to talk. Talk with people in your yoga class or the ones you meet randomly at a café – you never know what they are holding in for you.

  • Be the master of small talk. All great conversations begin with a small talk. Talk about the weather, about yourself, your interests and obviously, your business goals.

  • Connect with all your connections over social media to remain in touch even when not talking on a regular basis.

  • Do not hesitate to ask for what you want from your network. Even if they say no, there is nothing lost.

  • To keep the relationship going, remember to drop a few messages here and there to your connections.

  • LinkedIn is the best app for professional networking and achieving maximum brand outreach, especially for B2B companies.

  • When forming initial connections, do not talk about negative things. Instead, focus on more and more positive outcomes.

  • Try to dress professionally and smartly. Avoid getting informal or too personal during networking. Do not share too much information.

  • Also remember what you can do for others, so that when the time comes, they are ready to do it for you too.

Once you develop a quality network of connections, do not stop. Networking is an unending process – the more you network the easier it gets. Keep trying to develop a better and a newer kind of network. Do not stick to the same kind of people – variety makes life interesting.

The benefits of networking are manyfold for your business and also for you as a person. It is an underrated but crucial life skill. To conclude, keep networking, keep growing.


SUMMARY:

As the famous public speaker and entrepreneur – Porter Gale has said that your network is your net worth. It truly is a visionary statement. The advantages and benefits of networking for a business are numerous. It increases brand outreach and develops one’s personality. There are many ways through which networking can be done easily and effectively, as given in the blog.



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