Will networking have an impact on my business?
Before social networking sites like Facebook or Twitter came along, networking was mainly confined to the business world and implied like-minded people met up to talk shop and make deals.
However, the never-ending slew of business networking meet-and-greet events gave business networking a bad name.
Today, networking has become more accessible, less stuffy and easier with the help of the internet, dedicated sites, and even a calendar week dedicated purely to networking.
By definition, business networking is the process of establishing a mutually beneficial relationship with other business people and potential clients and/or customers.
To make a network event work for you, you should attend it hoping to establish a mutually beneficial relationship - which is no easy thing as most events are frequently promoted as 'opportunities'.
Yes, the purpose of business networking is to increase business revenue - one way or another. But the best business networking groups operate as exchanges of business information, ideas, and support.
The most important skill for effective business networking is listening; focus on how you can help the person you are listening to, rather than on how he or she can help you.
Nigel Holt, a copywriter from Stylus Copywriting, believes that networking can help build trust between both parties. He attends BNI High Flyers events in Dubai.
"Networking builds relationships, levels of trust, and the degree of familiarity with colleagues' services so they can be more accurately portrayed to clients, and increase the possibility of business leads that are more likely to translate into real business results," he said.
"Networking initially offers the possibility to extend the reach of one's business through a formalized system,which is not ordinarily available through one's existing network of contacts. Through the preferred referral system in a tight group of professionals that one both knows and trusts, there is a level of security that rarely exists from those whom one is less well familiar with exactly what they do," he said.
Relationship building to leverage your business and personal connections to bring you a regular supply of new business can be a deceptively complex process.
Business networking is much more than showing up at networking functions, shaking hands, and collecting business cards.
"My experience thus far with BNI High Flyers has proved highly beneficial to my business, and through the leads and real business generated through my contacts for my colleagues," added Holt.
Networking for business growth must be strategic and focused. Not everyone you meet can help move your business forward - but everything you do can be driven by the intention to grow your business. You have total control over whom you meet, where you meet them, and how you develop and leverage relationships for mutual benefit.
Annette Fernandes from Fifth Ring public relations in Dubai said networking is the process of developing and using contacts to increase your business, enhance your knowledge, expand your sphere of influence, or serve the community.
"Networking forms a large and significant part of our business development efforts and helps us develop the right database of contacts and prospects for our business," said Fernandes.
"With the right tools and training, networking can have a huge impact on how you build relationships, trust, credibility, and respect. In referral marketing networking is essential if you are to have a mutually beneficial relationship with your referral sources and partners," she said.
Networking your business means you have to be proactive. The core of networking is doing something specific each week that is focused on networking for business growth.
According to Dave Bradley from VantagePoint, regular contact is the key. "Relationships build as you get to better understand each other and the needs of each other. So networking with a regular group can build better relationships over time," he said.
International Networking Week might be a good place to start networking if you've never really attended an event before. It takes place in February every year and is an initiative of BNI.
International Networking Week celebrates the key role that networking plays in the development and success of businesses across the world. Its purpose is to raise the profile of networking in the wider community, recognizing it as an essential tool for success in today's business climate.
Your next move should be to make a plan, focus, and be consistent. When you understand exactly what business networking is and step up to the challenge, you'll find avenues of opportunity that you may have otherwise never discovered, and you will be making an invaluable investment in the steady growth of your business.
© Zawya BusinessPulse 2013
