How to form strategic connections.
Networking plays a vital part in boosting your business, sales, and getting the exposure you need to thrive even more. In a nutshell, it can be defined as being the “living” advertisements for other businesses within the same network.
Networking is an important part of improving your business.
Entrepreneurs come together with a common goal and that is to be beneficial to each other and their clients and or customers. Are you curious to know more? We’re more than happy to explain it in this post so that you can learn the essentials you need to start growing your business effectively.
Benefits of a business networking
Establishing a successful business network and connecting with the market is built on factors such as trust, loyalty, quality, and value to name a few. For example; you’ve always bought a certain brand of product and have learned over the years how well it works for you, you’ll keep buying it because:
- You trust the brand as it has served you well throughout your experience
- You’ve long built up a sense of trust for the brand and the company behind it
- You enjoy the quality
- It adds value by having become beneficial to your everyday life
Receive new referrals and contacts
When you engage with others in the form of networking, the chances of you being able to land prospective customers and clients are higher. This is possible because people tend to share their experiences with others. This can result in referrals and word of mouth opportunities.
Stay visible
Don’t make yourself “scarce” if you want your business to grow. Instead, arrange periodic meetings with fellow business partners through luncheons and other network functions. This will help you to maintain your presence with old partners and establish it with new ones.
There is always a positive effect when meeting people in person. While this may seem like an old way of doing things what with everyone using the internet, it is, however, very beneficial and creates a better impression.
Stay up to date
Networking keeps you up-to-date with all the things new and happening in the marketing industry. This is essential, as you want to continue satisfying your audience and customers. This will also help your business and give you ideas for your marketing strategy.
Get the support you need
When you network with other professionals, your doors are open to a world of opportunity and help. All the professionals have various niches and specialties and are then able to help you when you need specific services for your own business.
For example, you need a marketing strategist, or you need someone to help you manage the company’s books, or legal services for that matter, you can simply turn to your business network for help.
New connections can lead to increased business opportunities.
Advice is at hand
You can learn from your peers about things before making a final decision. They share their experience on aspects that may be something similar to what you want to do but need their guidance or advice on the matter.
A typical example is starting a logistics company, if you had little to no knowledge of this industry, then someone in your network may be able to help you find clarity and assistance.
The networking process
Examine what you what for your business
When it comes to networking, you have to remember the goals of your own business; this is essential when meeting people who will be beneficial to as well as you to them. Some networking group goals are to enrich the community and their customers, while others focus on referrals.
Do your own investigation
When considering your ideal network group, be sure to learn more about them. Networking is about being supportive and if this isn’t what the group sounds like, would they be good for your business?
Pro bono work is honoured and rewarded
Doing work for the good of your community, without charging is admirable and allows business owners to interact with the public and give back.
Help your peers
If you’re able to help your peers by being of value, you’ll gain their trust and become the first person they’d consider for referrals.
Don’t be afraid to ask for help
By asking your peers for help, it not only enables you to choose what’s best for you and your business, but it also gives you valuable insights to the market.
Make good on that time investment
Now that you’ve spent time with your networking peers, you can then start sealing your business relations by drawing them in with appreciation and an “open-invite” to discuss a business opportunity.
What are your responsibilities?
As an entrepreneur, you have to be a good leader and open to learning more, whilst holding your cool when things get bumpy.
- Get your brand out there and meet strangers – This will benefit you in the long run with business growth improvements as these strangers become your connections.
- Hard work pays off – Being dedicated to the course is essential and for this reason, you have to make sure that you work hard at establishing those relationships through social events and practicing your skills set.
- Root yourself with good company – It’s impossible to grow if the network peers don’t have the same goals as you do and for this reason, it’s better to meet like-minded folks than “opposites that don’t attract”.
- Have their back too – Do your business partners a solid, by making good on the referral they’ve sent your way. These referrals not only have your business and reputation in the spotlight, but also that of those who’ve sent the prospective your way.
Top business network groups worth exploring
It can be fun to meet interesting new people.
Social gatherings
The casual setting in business does exist where it isn’t “all work and no play”. The casual get together in business networks allows professionals to unwind and relax with their peers engaging in various business backgrounds and talents.
Contact focused
With the right contacts in place, you can expand your current network with good contacts that’s going to benefit your company.
Serving the community
This may take longer to see beneficial results but your involvement with the community can open doors to more opportunity.
Professional
Professional networks mix with like-minded and same niche groups and markets giving them a more specialized opportunity for planning and marketing strategies.
We highly recommend that you start attending networking meetings in your niche as these can be instrumental to forging pivotal new connections.
The Takeaway
If you want to build a successful business, or even improve your current business as is, then start a business network. Collaboration with your peers goes a long way in gaining new customers and business partner.
As mentioned earlier, you get to enjoy vast benefits that are worth a fortune in good investment because you have access to valuable advice, time and the chance to build new relationships.
In South Africa, and across the world for that matter, are several networks to choose from, all having their own attributes that may be beneficial to you and your business.
Remember that joining a business network is beneficial especially when your business and goals align with their practices and environment.
Network successfully to get ahead.
For small businesses, networking this is the ideal opportunity to create exposure for the brand and the values that the business stands for. Being amongst the wise and experienced is the ideal place for small and medium businesses to thrive and craft a beneficial marketing strategy that’s going to enrich their brand.
Business marketing isn’t limited to small and medium businesses, because many large, successful enterprises benefit by maintaining their existing relationships while creating a chance for new relationships and opportunity.
Having considered everything, ask yourself this question. Isn’t it time you considered business networking for your brand and business as a whole?
