According to the Wikipedia, Networking is defined as “a socioeconomic business activity by which businesspeople and entrepreneurs meet to form business relationships and to recognize, create, or act upon business opportunities, share information and seek potential partners for ventures.”
I know many of us get frustrated trying to grow our business. You do a lot of marketing but yet you see no growth, your products and services are even less than your competitors but yet there is little or no growth. Despite this setback, you must continue to market your business and you must ensure that your prices are competitive. However, one of the driving factors in growing your business is through networking.
As a black person, it was a challenge getting businesses from the white expatriate and while it may appeared to be racism and prejudice, it was probably due to the fact that there is networking taking place among the expatriate community. Of course it can be a combination of the racism and networking. However, I do believe if you network, you will able to grow your business even from a different race.
Why do you think it is alleged that some of the employees at some of the resorts are calling certain individuals to transport guests? It is because they have developed a network with some of the drivers and perhaps they are even getting a commission out of it.
I encourage you to build relationship with others so that you can develop a network. This article will address the importance of networking and how to develop a network.
Networking creates opportunities
Networking allows you to meet individuals you may have never met before and in so doing you are creating opportunities for growth in your business through the individuals that you met. In addition, these individuals may refer you to other individuals and it becomes a network. As a result, you may even get connected to new suppliers who may not only be able to offer you better rates or even discounts on products but also more knowledge about your industry.
Networking builds relationships
One of the greatest success factors in life is to have a good relationships with others. Networking builds good relationships and if you have a good relationship, your career will grow and your business will grow. You see you can meet a lot of people but if you don’t have a relationship with them, then you may not be able to have a successful network.
Networking puts your name out there.
If you are very good in what you do and people are happy with you, once you develop a network, you name gets out. People will come to you even if your price is higher than the competition. That is because they have a relationship with you and they trust you. Soon your name and your business will be known among many.
How to network?
Networking is about building relationship therefore build good relationship with your existing clients and friends. You can do this by following up on them on regular basis and whatever you do for them, make sure that it is done well. When you perform greatly, people will tell others about you. Another way to network is to join some of the social clubs and associations where you will meet and develop long lasting friendships which will form a network.
It took me a while to realize the importance of networking. Because of networking, I was able to grow my business. I now have a diversified set of clients Networking works therefore if you want to grow in any area, try networking.