The Power of Networking!

The purpose of networking is to make new friends, industry acquaintances, and even business partners. Through these new relationships, you can make on your business and pursue new opportunities. When you look at it that way, it's clear why networking is such a powerful thing to do. For many business owners they don’t give it as much importance as they should.

We get busy with running our businesses and trying to balance our family lives. There never seems to be enough time to do everything we want. Especially when you run multiple cannabis stores that are open 9am to 11pm 7 days a week.?You always have some things coming up that need to be addressed.

?I understand for many it’s hard to find time to go out and network. Starting early this year I made networking as part of my job description. I make time for it and those efforts have paid off tremendously this year. I have made many new friends, learned so much from them, created new business opportunities and shared by knowledge and experience with others. It’s been a lot of fun along the way. I actually really enjoy doing this part of my job.

Benefits of Networking

I have learned, as an entrepreneur, the benefits of networking are critical to my personal growth and business development. 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 myself with people who share a similar drive and ambition, we 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 materialize. 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.

We are hosting a first of a kind networking event for Cannabis store owners/manager, Industry Professionals, LP Owners and Sales Reps on Sept 15th in Toronto. This will be your best opportunity to build your network to create business success.?Hundreds of people are already confirmed to attend. If you haven’t reserved your tickets yet, I encourage you to do so before they are all gone. Visit www.retailerconnect.ca for more information.