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Business Networking: Make sure you maximise the BenefitsTip! With the rise of online social networking websites comes an increase in small business networking sites as well. Where traditional business groups met at, say, restaurants, banquet halls, or on the golf course, they can now network online through various networking websites run by internet entrepreneurs. You might feel that Networking is of value for your business, but still wonder if its worth the effort. It is worth considering why Networking can be so valuable. I have selected 8 of the most important reasons, and give justification for my selections. What do you think? 1) You increase Sales!
This is the most obvious reason for networking, and many people would put it clearly ahead of all the others. They rely on the principle that the more people you can meet, then the more sales you'll be able to make. While there is a certain truth to this, I think there's a lot more to Networking, as you'll see below. 2) Develop ongoing Relationships
This is more like Networking, rather than simply trying to make sales there and then. You will be aiming to get to know people better, and for them to know more about you in return. In business there often needs to be a great deal of trust, and it helps if you have known your contacts over an extended period, and you know you can trust and rely on them.
3) Recommend Businesses to each Other
Once you begin to know more about a person, you will get a good idea as to whether she is trustworthy or not. Also you have a better understanding of the products or services that are on offer. Even if you are not in a position to take advantage of these, you might know of people you can recommend who might be interested, or even directly refer these people to your networking contact. 4) Have other People refer You
As well as you being able to recommend people, hopefully they will find that they can confidently recommend you and your services or products. Usually you shouldn't need to chase these referrals, but instead find that people remember you when they learn of someone needing what you have to offer. 5) Exchange useful Information
Networking needn't be just about directly helping sales. Sometimes if can be more valuable to gain special information which would otherwise be difficult to obtain. For instance, people you talk to might be able to suggest ways you can improve the operation of your business. Of course the exchange of information is a two-way process, and you should look for any opportunity to help any of your contacts. Tip! Many business networking events have speakers who are experts in fields that will be of interest to you and to your target market. In addition to imparting important information, many of these speakers can often be the spark that jolts you into action. 6) Learn of Business Opportunities
Networking is particularly valuable when you need to build your business. Not only can you learn of potential customers for whatever you have to offer, but you might hear of a new direction for your business that it might be useful to investigate. For instance, if you hear of a major business is relocating to your area, you might be able to arrange to supply it directly. 7) Learn of Employment Opportunities
You don't necessary already have a business up-and-running to be able to benefit from Networking. It can even be useful to be networking when you are looking for your first job. Once you have been able to establish yourself as a reliable and trustworthy person, then you might be fortunate enough to be offered employment, or at least referred on to a contact who might be interested in employing you. Tip! Use business networking events to practice and refine your elevator speech. Make sure it conveys in 30 seconds or less what solutions you provide, for whom you provide them, and the benefits of doing business with you. 8) You enjoy the Networking Process
At first we are probably all a bit reluctant to make enough effort to network. After a while, however, you will probably find yourself keen to take advantage of any opportunity. This is particularly the case if you network well, and feel that you are helping other people as well as gaining benefits for yourself. It will be satisfying to meet new people, learn about them and their business, and see how you can be of value to each other. So these are some of the main reasons why Networking can be considered to be valuable. How many of these reasons can be applied to yourself? Can you see why it is likely that you are not taking sufficient advantage of any Networking opportunities that come your way? What are you going to do to improve your Networking? ******************************************************
Geoffrey Ponder is an experienced Technical Writer who has worked on contract for some of the leading Investment Banks, as well as Consulting firms such as PwC and KPMG. Recently he has been involved in Property Investment, and has built up a substantial portfolio of rental properties. Now he is concentrating on helping people network more effectively, in order to build their business. In particular, he feels that Online Networking has a great deal to offer any business, anywhere in the world. This is often the best way of developing numerous contacts for mutual benefit. You can learn more by going to -
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