Business Management

Improve Business Through Networking

As an entrepreneur, the benefits of networking are critical to your personal growth and business development.

Small business is all about networking, building relationships and taking action. By surrounding yourself with people who share a similar drive and ambition, you are more likely to move forward as a group.

But that’s not the only benefit of networking. Here are five benefits of networking you and your small business can enjoy.

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.

It is also likely that within a group there will be those who have already been where you are today. This provides you with an opportunity to learn and avoid some of the common pitfalls they experienced.

 2. Opportunities

It’s natural that networking will result in opportunities.  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.

And remember it’s not just a one-way street. If someone in your network matches a business you encounter at an event, don’t hesitate to share their details. It will only strengthen your relationship.

4. Increased confidence

By regularly networking, and pushing yourself to talk to people you don’t know, it will help increase your confidence. This is an important attribute as a business owner, because your business growth is dependent on talking to people and making connections.

5. 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 recognise 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. You are also more likely to get more leads and referrals as you will be the one that pops into their head when they need what you offer.

I hope these potential benefits of network help expand you opportunities.

Please let me know your thoughts. Gerry@polarisgroupmc.com

Business Management

Managing Change

We face change all the time, driven both by internal or external influences. Growth, innovation, redundancy, outsourcing, relocation, diversification and competition all can force change in a business.
In is important to make the necessary changes before they are forced upon you – minimising change that can impact on profitability and maximising change that creates opportunities.

Most people, in particular employees, are uncomfortable with change because it interferes with their routine and exposes them to the unfamiliar. No set of methodologies firs every company but here are some thoughts for consideration.

Drive Change
It’s better to drive change than let change control your business. It’s also important to identify any need for change early on. Think ahead to where your business needs to be in one, three and five years’ time. What do you need to do to get there?

Prioritize
Decide which changes are most important and focus on the changes with the biggest potential benefits – not the easiest ones to implement.
Aim for continual smaller changes rather than a few large ones. Large changes are harder to digest and can interfere with one another, while small-scale changes are easier to manage.

Start at the Top
Because change is inherently unsettling for people at all levels of an organization, when it is on the horizon, all eyes will turn to the CEO and the leadership team for strength, support, and direction. The leaders themselves must embrace the new approaches first, both to challenge and to motivate the rest of the institution.

Communicate
Whatever the area of change, you will need the co-operation of your employees. However, resistance from employees is often the biggest stumbling block to successful.  The key to managing change successfully is to keep staff informed. Start communicating the change as early as possible, so people have time to come to terms with it.



Even small changes can backfire if they’re not handled sensitively. Consult with those affected before implementing any changes. Those involved may be able to suggest alternatives that deliver the same results more effectively or more efficiently.

Remember Life in Business is about change. Growth is optional. Choose wisely.

I hope these thoughts are of value as you move your organization ahead through change.

Please let me know your thoughts. gerry@polarisgroupmc.com