Importance of Networking in Business

Are you a self-employed businessman and thinking about business growth and sustainability?

This article will surely help you to reorganize your connection and improve your growth and client consistency.

You may know the basics of this but the reading this article, will surely help you to re-organize your networking in a better way.

Whenever we talk about networking in business, some people who are new and not involved in regular business growth may be confused between Networking in Business and in Networking Business.

Here we are going to discuss the importance of networking in Business, not about Networking Business (MLM marketing chains.)

What is networking in reality?

Networking is about mutual benefits with a common agenda group. Where both and even all get benefits by each other’s common efforts. In real networking everyone gets benefits.  

Why is networking so important in business?

Networking is not only important for business growth but also important for business sustainability, consistency and smooth survival

 “Your Network is Your Net Worth”

Networking not only helps in getting get new clients but is also very important in procurement, vendor development, and in creating a safe circle to handle day to day business challenges.

You should know that whenever you are going to someone to seek something you must know what you can do for him.

How to develop the right network for your Business?

Networking is all about developing good relationships with the right people.

You should have a clear vision. And also know the right direction or right kind of people with whom you can create a mutually beneficial relationship. You must remember that networking is all about mutual benefits not just one’s benefits for an example you are making a ne

Why is scrutiny important in a network?

 Like a streaming is important for tree to grow right branches the same streaming is important in business network, while developing business network many times we get unwanted people or shadow people who are dangerous in relationship. So from time to time we have to review the list and connections to re-organize them in a better way.

 How Networking works ?

Good networking creates a positive environment around you.

Results of Networking.

We Always wanted to know, what are the benefits of doing anything or certain things. There are lots of benefits of networking but some most important are the following :

1.     Growth

A right networking helps us to grow fast, get new connections for business development, news ideas, and business tie-up. It helps to increase our clients with direct efforts and we get benefits of our contact’s connection which multiply our reach.

2.     Relationship development.

Either we talk about life or business. Relationships are very important and business networking can help you to create and develop your relationship in the easiest ways. But while making relationships you must be sincere with others.

3.     Cost Benefits

Cost benefit is one of the most attractive and important results of networking. It is the best way in business development. It helps in procurement to find out good vendors and suppliers at the right price by our references.

4.     Sustainability, consistency.

For any organization or individual, regularity and constancy is very important in business life. We know that there are a lot of fluctuations in the market due to many reasons, which impacts our sales and purchase. A good networking group can help us maintain the stability in uncertain business environments by referral for clients and support by exchanging leads.

Types of networking.

 There are many options available to create networks. Every pattern has certain rules and benefits. The detailed benefits of every pattern I will share in future articles but here I am sharing the headings. The people who are regularly using it can easily understand the benefits of every type of Networking.

•       Trade and industrial association based on Locality (Like- UCCI, KCCI)
•       Trade Based Industrial Group (Like- Marble Association, Automobile Association, Hotel Association)
•       General Business Groups- (Like-CII, FICCI)
•       Core networking Groups- (Like-BNI)
•       Social Business Groups- (Like- VCCI, JITO, BJO)
•       Business Fair- Many specific or commence business and trade fairs like, (IIFT-Delhi, and others)

Social Media networking–  your contact groups and connection on different social media, like Facebook, LinkedIn, and others.

Networking with loyal clients.

Cross Branding, Bartle system, Partnership in promotion

What should you do? And what not.

Things you should do.

•       Be clear about your vision and commitments.
•       Maintain your credibility.
•       Keep regular contact with connection but do not irritate.
•       Must follow standards rules of groups or associations.
•       Always talk about relevant topics and Ideas

Things you should not do.

•       Never create an image of miser or over show off.  
•       Don’t refer to anyone without full information and trust.
•       Never disclose the secrets of people you know in group
•       Avoid talking about individual weakness.
•       Don’t discriminate based on racism.
•       Avoid useless political debates.  

I hope the headlines of these points will surely help you to understand the importance of networking in business.  For more details about this and how to utilize networking in business properly we can do more individual and group sessions and share the points in follow up articles. You can Contact US