How network is useful to us?

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.

2. Opportunities

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.

3. Connections

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.

4. Increased confidence

By regularly networking, and pushing yourself to talk to people you don’t know, it will help increase your confidence. This is an important attribute as a business owner, because your business growth is dependent on talking to people and making connections.

5. Raising your profile

Being visible and getting noticed is a big benefit of networking. By regularly attending business and social events, people will begin to recognise you. This can you help to build your reputation as a knowledgeable, reliable and supportive person by offering useful information or tips to people who need it. You are also more likely to get more leads and referrals as you will be the one that pops into their head when they need what you offer.

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No matter what stage of business, or what problem you face, Small Business BC offers a range of webinars, our on-demand E-Learning education, and one-on-one advisory sessions to suit any business.

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Computer networks help users on the network to share the resources and in communication. Can you imagine a world now without emails, online newspapers, blogs, chat and the other services offered by the internet?

The following are the important uses and benefits of a computer network.

File sharing: Networking of computers helps the network users to share data files.

Hardware sharing: Users can share devices such as printers, scanners, CD-ROM drives, hard drives etc. Without computer networks, device sharing is not possible.

Application sharing: Applications can be shared over the network, and this allows to implement client/server applications

User communication: Networks allow users to communicate using e-mail, newsgroups, and video conferencing etc.

Network gaming: A lot of network games are available, which allow multi-users to play from different locations.

Voice over IP (VoIP): Voice over Internet Protocol (IP) is a revolutionary change in telecommunication which allows to send telephone calls (voice data) using standard Internet Protocol (IP) rather than by traditional PSTN.

Networking has had a bad reputation. Oftentimes, people misunderstand it as an opportunistic practice lacking authenticity. Some people see it as unnecessary small talk and some imagine it is about begging for favours. While others think it is merely exchanging information with strangers.

People have different personalities, and while networking comes naturally to some, introverts may find it extremely draining and intimidating. Networking skills are, however, crucial to anyone intending to start or advance their career. It may seem awkward at first, but the benefits of networking go beyond your career progression.

What is networking?

Networking involves establishing and developing long-term relations of mutual benefit with people you meet in different places. Whether you are part of a sports league, attending a conference, or in the queue to order a morning coffee, you can make a lifetime connection.

There are always networking opportunities all around for those who are intentional about creating networks. You do not need to register for every seminar or engage in several professional associations to meet new people. In this smartphone era, one needs to keep gadgets away to interact and connect with people intentionally.

Importance of networking

Interacting with people from different professions, nationalities, and cultures gives you a broader scope of life. Your open-mindedness increases every time you socialise with people from diverse backgrounds, ages, and points of view. Another advantage of networking is that this open-mindedness and understanding teach you to become a better team player.

Apart from broadening an individual’s view of life, there are many benefits of networking. Think about it: networking is an opportunity to practice starting conversations, communicating clearly, and learning about people around you. It’s a no-brainer! These interactions will increase your confidence, and you will no longer feel anxious about starting a conversation with strangers.

With pressures like deadlines and targets, experts stress the importance of social networking as a stress reliever. Meeting people who are going through similar experiences or have overcome obstacles you may be facing is always a great learning opportunity to make you a better individual.

An Undeniable Benefit of Networking

One of the undeniable benefits of networking is its impact on your business or career. Experts agree that success has a direct link to your networking skills. This is why the most connected individuals end up as the most successful. Investing in both personal and professional relationships pays back throughout your career course. Through interacting with people, you will keep a pulse on the job market, stay in touch with current trends, and meet prospective clients, partners, and mentors. Besides developing and improving your skillset, networking gives you access to the resources necessary to foster your career development.

A positive word about you from a relevant source to your potential employer works like magic. People are also inclined to trust referrals for business and service providers than engage strangers, especially for delicate and time-sensitive projects.

How to start networking

Sleeping as an introvert and waking up as an extrovert is impossible. You cannot, therefore, expect to get up and start initiating exciting conversations with people you just met if that is not your nature. Excellent communication skills take time to build.

Since there is no “one style fits all” networking rule, different tactics work for different people. To determine what works best for you, one may have to try various strategies to find out what suits you best. Introverts, for example, are safer with one-on-one conversations or smaller meetups, as crowds intimidate them.

Complimenting someone’s outfit or accessories while waiting for your coffee, train, or service is all it takes to start a conversation, develop a relationship, and network.

How to network successfully

Implementing your most comfortable approach will fast-track your networking goals. When you have identified your best strategy and networking style, consider places and events to network.

While traditional cocktail parties offer excellent networking avenues, there are many other opportunities to connect. Family events, friends’ weddings, graduation events, or even birthdays are some occasions one can use to network. Capitalize on your circles, like family, colleagues, and friends from school and university as you expand outwards.  Attending any work events and seminars will help you mingle with people that you are most comfortable within your circle. Sports clubs and cultural groups are other options to explore.

Volunteering your skills is another brilliant way to grow your network as you learn and also helps you give back to the community. You will not only learn about available opportunities but also get exposed to diverse career paths.

Networking means to think outside the box

Networking is not just about receiving or asking; the best way to connect is by giving. You may not have a solution if someone comes to you for help, but you can link them to a person who can meet their needs.

It pays to think outside the box and beyond the corporate cocktails when thinking about networking. Every gathering can offer networking opportunities if utilized well, since getting to know new people is a natural event. Therefore, networking is not limited to formal events or specific circumstances but rather can take place anywhere and anytime.

Nurturing new relationships from networking is crucial. Just like an interview, following up with any new connection is of utmost importance. Start by sending a LinkedIn request with a personalized message and tagging those in your network to articles that would interest them. Something like “It was great meeting you at the X event” will remind your new contact who you are.

Conclusion

One of the obvious benefits of networking is fast-tracking your career growth and improving your communication skills. Having a good reputation with a wide range of people will increase your chances of getting referrals and job opportunities, so don’t restrict yourself to traditional networking circles. You never know who someone may be able to connect you to or what you might learn.

Take the time to find the right type of networking strategy for you and focus on making it a positive experience. In doing so, networking will become less of a hassle and more of a fun opportunity to improve yourself. Trust us, you won’t regret learning how to network well.

Have any additional networking tips to share? Let us know below!

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