Developing a More Dynamic Network

When expanding their network, a critical error that many business owners commit is confusing connections with sales leads. While generating a hot lead pipeline has advantages, developing a network serves a far more complex, diverse, and arguably more powerful purpose.

Yes, your network should include sales leads, but it should also encompass suppliers, investors, potential employees, and other business owners from various industries. Your network is about creating a robust support system that elevates and augments your connections and capabilities.

Why You Want a Multifaceted Network

A dynamic network consists of more than just potential customers. It includes a diverse array of contacts, such as suppliers who can provide insights into cost-saving opportunities, product innovations, and market trends. Potential investors might offer financial backing, strategic guidance, and industry connections. Professional contacts can give you access to top talent you might need down the line.

Perhaps most importantly, maintaining a network of other business owners is invaluable. More than anyone, your peers understand the challenges and opportunities of running and leading a business. You can lean on this network for insight and advice—and possibly even collaborate on joint ventures. Even business owners unfamiliar with your specific industry have expertise in many common elements of running and growing a business.

Strategies for Building a Healthy Network

True networking success involves strengthening relationships and creating mutual value. When you approach networking with the purpose of both offering and receiving support and shared knowledge, you build stronger, longer-lasting connections.

Here are some smart strategies to build a more dynamic network:

• Attend a Variety of Events: Don’t limit yourself to the same events with the same attendees. Consider attending events outside your industry and be open to connecting with business owners and professionals you might not expect to do business with. You never know when you might need that connection or when they might need you.
• Use social media: networking sites like LinkedIn give you access to various professionals and business owners. The platform offers fantastic sales tools like Navigator, but don’t limit yourself to just looking for leads. Connect with individuals beyond your ideal customers. Join a diversity of groups and foster those relationships to a degree that makes sense to you.
• Cultivate long-term relationships: Your network isn’t a competition for how many contacts you can amass. Instead, focus on building long-term relationships and providing value to your connections. Don’t just send marketing messages; reach out with kudos, words of support, questions, or even a personal referral for a position you need filled. Even a little effort can go a long way.
• Provide Value: Approach new contacts with the mindset of how you can help them, not necessarily the other way around. Be a resource. Share an article, offer an introduction, comment on a post, and build reciprocity. Augment your network’s skillsets. Your interactions with your network should be much more valuable than just a sales pitch.

Use your connections wisely. Remember, a strong network is not just about who you know, but how those relationships can elevate both your business and theirs.

I hope this article was valuable.

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