What Is Business Networking? With Tips To Succeed

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Business networking involves making connections not only with likely customers or clients, but also with other individuals who might refer business to you or mention your name in some positive way to people they know. It also involves connecting with people who provide information or training, and it can be an excellent way of locating reputable vendors to hire for your own business.

A key part of effective networking is helping other businesspeople with their needs. That’s why you’ll find that the best networkers are often connectors who help others by referring customers, providing testimonials, or helping to promote events and other businesses in some way.

How to Network Like a Pro. (Business Networking )

Why is business networking important?

Business networking benefits everyone. As you grow your list of contacts, you’ll be introduced to more and more people who can help you advance in your career. Below are some specific benefits to networking:

What is business networking?

Business networking occurs whenever you are building and cultivating relationships with other business professionals, prospects or current customers. Networking can take place in many locations such as conferences, networking events and even via social media. Business networking builds further when you’re cultivating a relationship with a contact while communicating the value of your business or product.

Attending the networking event

After you’ve found events you’d like to attend, you can start meeting prospects and building your business network. Follow these steps to learn how to network and leave lasting impressions on new contacts.

1. Master your elevator pitch

When initiating a networking conversation, your overall goal should be to sell yourself. The elevator pitch you deliver is vital. An elevator pitch summarises who you are, the product you’re selling and how it will benefit the consumer.

When delivering an elevator pitch, you want to appear confident in yourself and in your product or service. Maintain eye contact, use good posture and speak in a positive tone about the value you or your product can bring to your customers. These pitches should last approximately 20 seconds and include strong selling points.

2. Ask open-ended questions

After your elevator speech, ask open-ended questions. This helps you gain a better understanding of the person you’re speaking with and develop a better grasp of their goals. Depending on the reaction and interest of who you’re speaking with, your questions may be:

3. Try to learn more

As you ask questions, listen closely to the answers. Learn what their challenges, goals and needs are so you and your organisation can develop a plan to meet these goals. Remember that networking isn’t just a chance to build your own awareness. It’s also an opportunity to help others through communicating and educating them on how your product can provide value.

How do you build your network after an event?

Once you’ve made several new contacts, it’s important to stay in touch with them in order to strengthen the business relationship. Here are some tips to growing your new contacts:

Send a follow-up email

Email your new contact and reintroduce yourself by reminding them which topics you discussed during the event. If they informed you of a challenge they were working to overcome, provide them with a resource, a solution to their problem or a professional colleague who can help them further.

Offer to meet and continue your discussion. Invite them to a coffee shop or a cafe for lunch. Meeting with them regularly will help strengthen your connection.

Offer value, advice and connections

Once you meet with your contact in person, offer them resources to help further their career. Share your insights or advice on a problem or help them connect with other people you believe may benefit them. As you strengthen your connections you have the potential of being introduced to more people and further building your network.

What is business networking and its benefits?

What are the disadvantages of networking in business? Answer: The major disadvantages of networking is that?it can be exhausting, time-consuming, and often ineffective. To make networking beneficial, you should only network with people you know or who could be likely customers or clients.

What is the importance of business networking?

Business networking is?the process of establishing a mutually beneficial relationship with other business people and potential clients or customers. Business networking benefits are the intangible gains made by communicating with other professionals in or relating to your industry.

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Thanks,

Robert