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5 Ways that Networking adds Business Value

5 Ways that Networking adds Business Value

There are many reasons why networking can be so valuable to a business. With this I refer to any type of business that ranges from sole traders home workers to large multi-nationals. The opportunity to initiate contact and discussion with a variety of industry types is something that is crucial to the success of a business. Gain insight

Importance of business networking for entrepreneurs

networking

Every type of business will benefit from the physical networking and the virtual networking opportunity for these five reasons:

gain insight #1 Meet new people

Such a basic necessity, however this is a fundamental part of adding value to your business. When you meet new people you have an opportunity to expand your ability to communicate, who you are, what you do and how you can give value both with your business and on a personal level.

Without meeting new people; networking won’t work. It’s that obvious!

#2 Visibility for your brand

Once you have met these new people in your network there is a sales opportunity awaiting. This does not mean that you go in for the hard sell every time you encounter a new “prospect” whilst networking.

It’s where you begin to build relationships and add value to that persons business or personal life. The more you give, the more you will be remembered for that value and your skills will stay in those ‘prospects’ subconscious for a time when they do officially require your services.

Subtle visibility for your brand is vital and there is no better way to do this then to initially give your insight and advice for free.

networking#3 Gain insight and advice

Giving your insight and advice has a knock on effect in that you also have the opportunity, through networking, to GAIN insight and advice that will add value to you and your business.

Asking a question through social media or in a crowded room may give you an answer that will allow you to add processes, make changes or discover new tools to make your business more effective. Peer to peer recommendations are the best way to discover new things and networking gives you the platform to do just that.

#4 Industry trends and updates

It can be so easy to get caught up in day to day tasks where you can slowly become oblivious to the changes taking place within your industry outside your world of work. This is where networking can be vital in order to keep up to date with the latest shifts and trends.

Person to person networking can give a more in-depth insight than online social networking here as a person is more likely to be more forthcoming knowing that there comments are not displayed online for all to see.

Remember though, when gaining insight on new industry trends, sometimes opinion is just an opinion and soak up the information and then sift through to gain the firm insight that will add value for your business.

networking#5 Knowledge of skills that may be future requirements

You attend networking events and engage online in order to give visibility to your brand and the skills you possess. Turn that around and take note of the people and businesses you encounter through these networking opportunities.

These people may be key to the future success of YOUR business as they may have skills that you may need going forwards. Your business may be great at what you do but the peripherals of a business may require different skills like accountancy, web site design and more.

This is where networking comes in. Through engagement you can get a good idea of whether a person is someone you could work with in the future or, as said before, peer to peer recommendation is a great way to initiate connections with effective people you may not have encountered before. These connections’ could be beneficial to the progression of your business.

 

So get networking! Whether it be in the realms of cyberspace or face to face, the time spent in conversation and engagement could be your key to success!

 

 

 

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“If I have no Honour or Integrity, then I have nothing”

David Ellis