The Power of Networking: 10 Important Reasons Every Business Owner or Entrepreneur Should Network
The Power of Networking: 10 Important Reasons Every Business Owner or Entrepreneur Should Network
Networking is the art of building and sustaining mutually beneficial relationships. It is of great importance for every business owners to network. If you are dreaming of starting a business, or dreaming of taking that small business to the next phase or you plan to sustain that fully grown business of yours, then you need to network. Networking cannot be relegated to the background, even in our day to day life. The kind of people you relate with will determine the way you live your life, the same thing applies to business. The kind of people you network with will determine the growth of your business, or better put, how well you network determines how prosperous your business turns. No man is an island, we all need each other to survive this is why networking is important.
Networking however is not using people for your own gain. Some people often misunderstand networking as using people for your own gain, that’s a travesty. Indeed, networking deals with people, but it deals with mutual benefits. You gain, I gain, we mutually benefit. It’s not the other party trying to play on the other’s intelligence. It is not putting people on the spot. Networking is a powerful tool for any business to survive, below are some of the reasons every entrepreneur should network.
1. Empowers business connection: there is a popular saying that it is not what you know but who you know. Networking helps you to get connected to people involved in the same business like yourself. Thereby creating an interest between you. If you properly handle your relationship, you might be on your way to landing a huge business endorsement.
2. You get fresh ideas: it always feels good sometimes when you get to see things from a different perspective. When you network, you meet with people of like minds with fresh ideas who could help in giving your business the little facelift it needs. We see things from different angles, you might not have realized you could transact along a path, but meeting someone who could bring you to the realization that you could walk in that light is what networking does.
3. More knowledge: God is the all-knowing. No man knows it all, this is why when like-minded entrepreneurs come together to network, they each share the little knowledge they have and gain from the ones shared. Each man gets enlightened.
4. Business advice: this is very important for young entrepreneurs. As an entrepreneur, you need a mentor, you need to get close to people who have walked in the path in which you now are walking, you need to get close enough to people to know how to tackle problems faced in your business. When you network, you get advice from people who have been through similar situations like yours. You could also give your own little piece of advice if you have any or if anyone cared to ask.
The Power of Networking: 10 Important Reasons Every Business Owner or Entrepreneur Should Network
5. Building your confidence: the best way to build your confidence is through public speaking or participating in any public events, seminars. This is the power of networking.; it creates avenues for you to express yourself and even market your product. The first time might not be as smooth as you expected, but with time, you become confident and bold. At this juncture I must add that every business owners or prospective entrepreneurs should master the act of public speaking. It is important for growing your business and networking at large.
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6. Gain a different perspective: Letter six would be seen as nine by someone who reads upside down. We are human and we are bound to see things from different perspectives. When we meet people who see our ideas from a different perspective, it shows a sign of excellence in us. Knowing that our ideas are not one way structured. Networking helps you to gain a different and unique perspective of your business, and even give your perspective on others businesses.
7. Create long lasting relationship: people have sustained friendship, acquaintance and even long lasting relationship through networking. Meeting the right set of people could make one excited, some are even so friendly that you wouldn’t want them to be away from your life. A desire for them to be a part of your day to day life might spring in you. Knowing how it feels to wake up every day and realize that you have a fellow goal getter by your side who gives you the vibe even when you think setbacks would take its toll on you is one of the greatest encouragements. This is the power of networking. You meet unique people, initiate conversations with them and follow the flow to wherever it leads.
8. Get answers to your questions: every entrepreneurs always have one question or the other which bothers them, some have been answered while some still remain unanswered. The truth is, you cannot answer all the questions. You don’t have answers to them all, but when you meet people and present your pondered questions before them, they will be able to give answers, each from his own perspective. And if eventually, the question seemed unanswered, you will be sure a bridge has at least been bridged.
9. Raising your profile: when you network, you leave your comfort zone, and meet with anonymous people. Meeting with people whom you have never met is an elevation for you. Unknown to you, there is a recognition you command in meeting people, your profile gets raised. For instance, if you got privilege to attend an international conference, you would command more respect when you eventually get back to your home country. This is what networking does.
The Power of Networking: 10 Important Reasons Every Business Owner or Entrepreneur Should Network
10. You get business contracts: your next client might just be on the list on someone you are meeting for the first time. After all, you won’t be a business owner and still be the customer, you need third parties to patronize you, meeting the right set of people could connect you to your “hit deal”.
Conclusion: as much as networking is good and mandatory for every business, it is important to connect with the right set of people, build a cordial relationship with them and let the tide decide where it leads.
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(B.Agric, MBA)
08105636015, 08076359735
Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2018 SME Business Trainer and Coaching Advisor at GIZ for SME Loop.
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.
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