Advantages of Networking in a Company
I don’t want to pass up the opportunity to share an article I read about the advantages of networking in a company article that I found. Here’s a brief summary:
In a small business, networking involves the owner getting out into the business community and meeting people. These interactions can take place at organized conferences and trade shows, social events, or even on the tennis court or golf course. The goal of networking is to continually expand the number of business contacts you have.
Expanding Business
Networking is an effective way to meet prospective customers in an informal environment. The business owner doesn't make a sales pitch so much as introduce himself and his company to the prospect. The goal is to exchange contact information and open an avenue for further discussion. You may also meet owners of other companies who are interested in discussing possible joint ventures such as marketing each others' products or services. In this less formal meeting environment, you can build a positive relationship with the other company's CEO before starting serious negotiations.
Finding Talent
In a small company, it is critical that the owner hire the best-qualified employees. Every worker plays a key role in a small company's success. The process of interviewing and vetting candidates for a position can be time-consuming. A small-business owner may not have the time to conduct as thorough a search as he would like. Networking with trusted business associates can make the hiring process go more quickly and ultimately help find the right person for the job. The people in your network can recommend people they know or have worked within the past, narrowing down the number of candidates you have to review.
Speeding Transactions
Having someone introduce you to a decision-maker can make a business transaction go faster and increase the probability of a successful outcome. For example, small businesses seeking capital are competing against many other entrepreneurs to gain access to venture capitalists or angel investors. Through networking, a small-business owner may meet someone who already has a strong relationship with a partner of the investor group. Being referred to the investor group by someone they trust increases the chances you will be given the time and attention you hoped for.
If you want to keep reading click the link here for the full article. Please feel free to contact me on 0467 749 378 or email at [email protected] for any thoughts and perspectives.
Thanks,
Robert