Why Network for Business?

 By Ampy Llorca

 

In the business world, networking is defined as “the establishing of communications links with other people as a means of exchanging ideas and information” that includes both internal and external organisations.

 

There are many (from 5 to more than 10) business, as well as professional and personal benefits to networking that has been authored by many successful businesspeople. However, the commonality underpinning all the enumerated advantages is good communications. From effective communication, it primarily builds confidence to talk to people (i.e. existing, new and potential customers/clients), where you get to exchange information and ideas. In this exchange of ideas and information you can gain insights on the best practices where you can benchmark your business. Networking with like-minded people can identify business trends and lead to new business opportunities.

 

Professional networking of the same peer group is great for sharing ideas and knowledge where discussing your point of view or seeking feedback will allow you to see things from another perspective and expand your business knowledge. It is also within this professional group you will have the opportunity to learn and avoid some of the common difficulties they experienced.

 

Having quality networks with successful and inspiring people is a positive recipe for business growth in numerous means. Networking is a two-way street that by helping others and seeing them develop gives great satisfaction. And over time, your business might also benefit from that supportive relationship. Thus, networking benefits everyone, just that the benefits might come at different times. It has been said that the most successful people are often the most connected. Investing in business relationships (even at a personal level) can pay back in dividends. Networking will help you develop and improve raise your business and professional profile.

 

Sustainable networking is about establishing and nurturing long term, mutually beneficial relationships with other people you already know or are to meet. It is an essential part of expanding ones business knowledge and acumen.

  

Key Takeaways

 

Networking gives business and individuals the ability to work in partnership with other experts or like-minded people to benefit them grow their businesses and improve their professional lives. The benefits of business networking are endless include but not limited to:

 

·        Identify new business opportunities and improvements

·        Communication with like-minded individuals and build contacts

·        Attain additional knowledge and perspective

·        Provide and receive assistance from other owners

·        Raise business profile with confidence