Every single business owner should in my opinion actively utilize business networking, if for no other reason than the simple fact that it helps you generate revenue which leads to profits and let’s face it, that’s one of the main aims of business.
The amount of profit a business generates is often used as a measurement indicator of how successful a business is, and everyone in business strives for a strong bottom line. Business networking can and will strengthen that bottom line, it’s a necessity in business, and it’s rarely optional.
And while networking can help your business financially, there are a myriad of other ways that building relationships with other businesses within and outside of your target market can positively benefit your business.
Business networking can help you stand out and get noticed in the marketplace, as people will come to know you and how active you are in the business community, giving you a distinct advantage over other businesses.
Making the effort to create mutually beneficial relationships will increase your perceived authority in your market, and those who are looking for what you offer will be drawn to both your expertise and your presence. Increasing your perceived authority will allow you to raise your prices, especially if you are in the consulting, coaching, or mentoring arena.
Building your arsenal of suppliers, service providers, and/or contractors is another great benefit of networking. Whether you run a retail business selling physical products, or a service-providing business, it always helps to have others in the know when you need to find a different product, supplier, or provider. Even if you don’t come into direct contact with these types, having contacts who do have these names and numbers will help your business too!
Once you start participating in business networking groups or events, you’ll quickly learn which are beneficial to you and a complete waste of your time. You’ll learn to avoid those that don’t offer your business any real value, and you’ll learn to pay even more attention to those that do. Volunteering to help out at these types of events will get you in contact with the most people, and will show a gesture of goodwill to the event presenters. Who will often repay this in ways that help promote your business.
At first, attending networking events might seem uncomfortable, but those feelings will quickly disappear as you become a more adept networker and as people get to know you. Your confidence will increase and you’ll be able to interact with others much more naturally. Successful networking can be a learned skill and is a very worthwhile skill to pursue, one that can only benefit your business for years and years to come.
Business networking today, can be seen as a way to increase your business contacts, customers, clients, colleagues or providers, as well as giving you a wealth of information and advice through the fellowship of other business owners. Networking will raise your authority level with others, and can be considered a necessary part of business today.
I run the following networking groups, if you live in and around Perth feel free to join and get involved.
- Business Referral Club
- Blogging, social media and online marketing in the real world.
- Online, content and social media marketing Perth.
Each of the above groups have around two hundred members and each grow monthly… isn’t it time you used networking within your business, either by getting involved or starting your own group.