subject: Importance Of Networking In Business [print this page] The foundation of a thriving and successful business rests on sound communication skills and efficient networking. The latter, though largely dependent on the former is almost indispensable. If you don't have a good network of contacts you can't hope to soar too high in the business field. Irrespective of the area of your specialization, it is essential that you have a fair amount of contacts that will be your support in case of any undesired and unfavorable circumstances. Apart from that, a good network can be instrumental in increasing and spreading your business far and wide, giving a significant boost to your profits.
What is Networking?
If you want your business to be successful, networking is a priceless tool. In plain terms, networking means building relationships with people who are important names in the industry. These are the people who are decision makers and can guide and assist you towards your career goals. Start from your family and friends. Get acquainted with their contacts who you think might be helpful to you and then try and build a healthy rapport with them. This will result in more contacts in your personal network. However it is important that you help the people in your network as well. Business network is like a symbiotic relationship, a give and take one. When you help others, you get their goodwill which translates into bigger profits for you.
It is a good idea to have different kinds of people in your contact list. You never know how and when someone can be of help to you. This also increases your reputation and you can reach out to more number of potential clients. Always remember that efficient networking begins at the very first meeting. It's important that you create a positive and lasting first impression on your prospective contact. Convince him/her about how helpful you can be when the need arises. Networking is a two way traffic, a mutually beneficial relationship is sure to attract any intelligent business professional.
Benefits of Networking
Networking is the base on which you establish your business. Needless to say, the benefits you derive from it are numerous. Here are some of them:
*The direct impact is on the reach of your business. Networking and reputation are directly proportional. The more people you know and connect to, the more known your business becomes.
*Networking can also increase your profits to a considerable degree.
*It gives you the scope to get referrals and helps you to reach your targets more easily.
*You get to know more people and hence get exposed to a lot of new and innovative ideas to promote and grow your business.
*Good network of contacts open new opportunities that probably would have remained unknown or inaccessible to you.
*A healthy rapport and a mutually beneficial relationship with your compatriots, competitors, suppliers and clients, i.e. with all those in your network can be very useful in the long run.
So, if you want a flourishing business, you cannot do without networking. It is essential that you gain access to as many people (who matter) as possible. That way you can enjoy a steady rise in your bank balance too!
by: Simon Johnnson
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