Benefits of Networking for Small Business Owners
By: June Bachman ~
5/27/2017 9:00:00 AM
Anyone who knows Wendy and I also knows that we are tremendous advocates of business networking. We’ve beennetworking on a weekly business since we started our business 15 years ago! Read on, for a few reasons that support our networking beliefs …
Increased Business via Referrals
Referrals we receive through networking are high quality and most of the time are even pre-qualified for us. If is always easier for us to follow up with a referral. We receive a higher quality leads from our networking colleagues than other forms of our marketing efforts.
With a motivated group of business owners comes an abundance of opportunities! Opportunities like joint ventures, client leads, partnerships, speaking and writing opportunities, business or asset sales… the list goes on, and the opportunities within networking are really endless.
Business networking benefits our business in so many ways “It’s not WHAT you know, but WHO you know”. This is so true in business. Successful businesses need to have a great source of relevant connections in their network. We connect with the members of our networking group not only on a weekly meeting basis, but consistently throughout our daily business efforts.
Networking is a great way to tap into advice and expertise that we wouldn’t otherwise be able to easily obtain. By consistently making an effort to create and build relationships with other business owners, we are in a position to receive great advice from others who’ve taken the time to know us. Additionally, we are in a better position to offer such advice, because we know our networking partners well.
Raising your Profile … Infamous?
Being visible and getting noticed is a big benefit of networking. Regularly attending business and social events help our brand exposure and help Wendy and I to remain memorable. Work to build a reputation as a knowledgeable, reliable and supportive person by offering useful information or tips to people who need it. Be the person who pops into the heads of others when they know of someone who needs your services or products.
The people that we hang around with and talk to do influence who we are and what we do. It is important to surround ourselves with positive, uplifting people that help us to grow and thrive as a business owner. Networking is great for this, as business owners who network are typically the types of people who are really going for it; and are positive and uplifting.
Through regularly networking, and pushing ourselves to talk to people we don’t know, Wendy and I have increased our confidence. As a business owner, this is important because business growth is dependent on talking to people and making connections. And the more confidence we have in ourselves and our business, the easier we make it to cultivate trust with others.
Gratification from Supporting Others
We really love supporting other people, and small business; networking is a fantastic way that allows us to easily accomplish this. Networking is full of business owners that have problems or issues within their business that need solving, and we derive tremendous gratification from helping someone brainstorm solutions to problems, and improving each other’s’ businesses.
On a more personal note, Wendy and I have cultivated many friendships as a result of our networking efforts. Sharing time with like-minded business owners that want to grow each other’s businesses, with whom we meet with and support on a regularly basis seamlessly translates into strong friendships. Some of our strongest friendships have been started through networking.