Networking for Business

The standard thing for an entrepreneur is to work hard, please his customers/buyers and expand his industry. But this is said easier then it is done. There comes a point in every business, once your reputation has been formed, and your client list expanded, where you are going to have to do a bit of networking.

This can involve networking with your competitors, not only to see what they are getting up to, but also to help one another out. There might be times when you don’t have all the resources and might want to include your competition to help out with certain angles of a service or product.

You might not be able to fulfil an order or require a bit of back up. Either way, being on friendly terms with the enemy might not be such a bad thing. As they say, “Keep your friends close, and your enemies closer.”

Another form of networking isn’t essentially networking with people of ones own profession, but rather of people that are on the same level. Knowing fellow business people that are in the same group might help when you need a random favour, or people to invest in your ideas.

People might be able to link you up or advise you on areas that you don’t know anything about, such as computer programmes or real estate. Because they are on the same level and you have found a relationship, trusting them with advice is better then a random stranger. Plus it works vica versa. They might need your help and you can gather up some favours.

Sharing business and advertising ideas is also another reason why people network. By getting to know others that have already paved the way, working out what their mistakes where or what they did right, will be good knowledge for you.

Ideally you want the relationship with fellow net-workers to be a mutually beneficial relationship. This is quite rare and doesn’t always end up that way, however these are the goals. Networking is about being genuine and authentic. Building trust is an important factor. You wouldn’t really want to help someone or take the advice from someone that you don’t believe in.

You shouldn’t, also, just keep in touch with people for the sake of networking. If their industry is really far from yours, and you have nothing in common with regards to ideas or clients, then rather let them go and concentrate on groups that you can offer something to and they can offer something in return.

Generally networking gets done through an event or knowing someone. The “masters” if you will call them, occasional will have dinners or meetings where they will invite people purely to network. These are the real opportunities in the business world and it’s all about making the most of them.