What Is Business Networking and Will it Work for Me?

Business networking is about growing your business. By meeting like-minded professionals and building sincere relationships, you can expand your knowledge and take your business to the next level.

Often, it is the networking efforts of a business owner that yield the most results in growing a small business. Successful networking starts with a genuine desire to build relationships and to give and receive mutual support, often via referrals.

But, if you are only networking for what you can get out of it and not for the mutual benefit of others, you will not be successful. Building and cultivating relationships should be a priority for growing your business.

How Does Business Networking Work?

Networking events or local business meetups provide opportunities to meet professionals on a similar wavelength and to share and expand your knowledge as you work to grow your business. Events are useful in introducing new concepts and methods while providing a platform for local business people to meet and exchange ideas. A good networking event will also offer some level of education or something you can take away and think over or implement into your business.

The value in these events is not necessarily the event itself; it’s the exchange of business cards, the information you garner while you are there, and the activities you implement afterwards. The exponential value is in the follow-up.

What Are the Benefits of Business Networking?

If we’re honest with ourselves, what we want to know is, “How will business networking benefit ME and MY BUSINESS?”

Time is incredibly valuable to us as business owners, so spending 2 hours out of our day to have a coffee and a bite to eat may seem like a luxury.

But ask yourself:

  1. How can I stay ahead of new business trends in my industry?
  2. Could I benefit from having a mentor or someone who can assist me with the questions I am struggling to answer myself?
  3. Where will I get my future customers?
  4. Am I attending regular education workshops to improve and develop my skills as a business owner?
  5. Do I have the confidence to ask for business?
  6. Do people view me as an expert in my field?

If any of these questions resonate with you, then you are ready to grow your network and networking groups and events will prove incredibly beneficial to you and your business.

“Networking is an investment in your business. It takes time, and when done correctly, can yield great results for years to come.” ~ Diane Helbig

Key Takeaways

Business networking gives business people the platform to collaborate with other experts to help them grow their businesses and improve their professional lives.

The benefits of business networking include:

  • Providing opportunities to help other business owners
  • Receiving support from other owners and industry experts
  • Gaining additional knowledge and perspective
  • Communicating with similar individuals

TIP: It’s still the case that a lot of local business happens on a handshake basis; therefore, it makes sound business sense to attend local networks to meet and share knowledge with like-minded professionals.

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