Business Growth

Benefits of Networking

As an entrepreneur, networking is a key activity that is not only fun, but critical to your personal growth and business development.
Small business is all about networking, building relationships and taking action.
Building a successful business takes a lot of time and drive, so it’s good to have a network of friends and associates to draw energy from and keep you going.

Here are some of the key benefits of expanding your networking activity:
1. Shared Knowledge
Networking is great for sharing ideas and knowledge. Whether it’s asking for feedback or discussing your point of view, it will help you expand your knowledge and allow you to see things from another perspective.

2. New Opportunities
It’s natural that networking will result in opportunities. The thing you will not know is when or how they will materialize. Whether it’s a referral, offer partnership or request for your service or product, it is important to be ready to seize opportunities when they come along.

3. Connections
Remember you are not just gaining exposure to the people in the room, you are building connections with their network too. If someone they know has a need that matches your business, if you have made an impression, you will likely get a referral.

4. Raising your profile
Being visible and getting noticed is a big benefit of networking. By regularly attending business and social events, people will begin to recognize you. This can you help to build your reputation as a knowledgeable, reliable and supportive person by offering useful information or tips to people who need it.

5. Friendship
This one is more personal related rather than business related, but is a big benefit none-the-less. Many friendships form as a result of networking because you are all like-minded business owners that want to grow your businesses, and you meet and help each other regularly, so naturally strong friendships tend to form. Some of my strongest friendships have been started from networking.

I trust this was of interest and helps remind you of the benefits of reaching out to others as part of your growth strategy. One never knows where the next great idea may originate.