The Benefits Of Business Networking
Business networking is the process of establishing a mutually beneficial relationship with other business people and potential clients and/or customers, it’s quite simply the art of relationship-building; although this type of networking is a little more focused and deliberate than the kinds of networking one does in other aspects of life.
Why And How To Network
Probably the most important part of networking is making a lasting impression, networking is less about meeting new people than having them remember you after the fact. In spite of the growing use of technology and the Internet, people still do business with people. Networking is the best way to meet new people and build those relationships that turn into repeat sales and referrals, it’s a long-term business development strategy.
The key to good business networking is the establishment of a mutually beneficial relationship, and that’s an incredibly rare occurrence at the standard shake hands and exchange your business card events that are touted as business networking “opportunities”.
Countless times I have been to these events and have seen people actually dash from person to person, with the expectations of giving away their card and not even hoping to gather the other person’s in return.
Unfortunately, people have lost their innate ability to connect (hence the bad networking) but if you are willing to take a chance and set yourself apart from the rest of the herd, you can make some great connections and truly develop your business.
You can cultivate a network of endless referrals by not thinking of “networking” as something you go to “networking events” to do, make it an integral part of your everyday business promotions. Aim to create and nurture quality relationships. Keep in mind that networking is about being genuine and authentic, building trust and relationships, and seeing how you can help others.
More Benefits Of Networking
Looking back, any investment of my time in those extra-work activities have had a dramatic return-on-investment in terms of the people I met and got to work with.
Something that is often over looked is that networking is a more cost-effective method of generating new business than advertising or public relations efforts.
Business networking provides you with invaluable contacts that give your company a dramatic boost, regardless of size or turnover, nurturing cooperative relationships with other specialized companies is an effective way to optimise your complementary skills and at the same time, maintain a degree of flexibility that is required in this increasingly competitive global marketplace.