You have probably heard this phrase before: “your #network is your net worth.” It is obvious that networking has become much more than a buzzword. In fact, it is a powerful #tool that can make or break your career. And in today’s interconnected world, it has become more important than ever to maintain a strong network of contacts for you and your #company. Continually expanding your network can have great value when it comes to recruitment, #business partnerships, outside endeavors, and so much more. Today we are going to take a look at how a robust business network can take your confidence and career path to new places.
What is 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.
The Importance of Business Networking
Building relationships can be the key to building a successful business. Professional relationships with other business people can:
Be a source of education
In business, professional development never stops—there’s always more to learn. Owning and operating a business requires an extensive set of skills, and this can often feel overwhelming for new entrepreneurs.
Experienced business connections can provide much-needed advice and industry insight, helping to avoid mistakes in marketing, product creation, communications, and time management. The lived experiences of old-hand business owners are invaluable when it comes to creating functional processes and making clever business decisions.
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Improve brand awareness
Brand awareness is everything in business. There are plenty of options for business marketing, especially in today’s social media world, but nothing beats word of mouth.
Business networking can help new businesses to build reputations, brand recognizability, and product awareness. This is the first link in a chain reaction. Once a business’s name is out there, it can begin to be shared by colleagues and clients and that’s the key to more work, more profit, and overall business growth.
Provide opportunities and support
Networking helps business owners to build a client base. Professional connections can provide fantastic outsourcing and collaboration opportunities that can help new businesses to cement their position in the marketplace.
Other business owners can also serve as an important support network, helping newcomers to understand and navigate business challenges.
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Where to find business networking opportunities
Business networking opportunities are everywhere, but it helps to know how to spot them.
Conferences
Conferences and events can be fantastic networking opportunities. Likeminded and motivated business people gather in their hundreds to talk about business and connect with others who share their entrepreneurial drive.
Often, these events also offer a range of educational resources and professional development workshops. Formal networking events like these are helpful because all attendees arrive with a shared networking goal.
When choosing conferences and events to attend, it’s a good idea to carefully consider your business niche and goals.
Some conferences are specifically tailored toward networking, while others have a greater emphasis on professional development or career progression. Selecting conferences that match your business’s interests will help you to get the most value out of event networking opportunities.
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Local clubs and events
Engaging with local clubs and events is a great way of beginning to explore networking opportunities. These events usually operate on a relatively small scale, and this can provide a seemingly safer, more comfortable environment for business people who are new to the networking scene.
Local networking opportunities can be helpful in offering location-specific advice and opportunities. They can provide space for developing working relationships, partnerships, and information about upcoming local sales events (a local market or show), or even space-sharing initiatives.
Online
Online relationship building is growing in prevalence and popularity and the business world is included in this trend. There are a number of online business networking groups, many of them based on Facebookand LinkedIn.
These groups are brilliant resources for business people who are still feeling intimidated by face-to-face networking and can be great opportunities for those hoping to expand businesses and embrace a global marketplace.
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