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.
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. 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. In fact that’s only the beginning. 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.
It’s natural that networking will result in opportunities. The thing you will not know is when or how they will materialise. 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.
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.