Three Most Important Reasons You Should be Networking for Your Small Business
By Leslie Radford
Key Takeaways
Business Leads and Referrals
Connections
Visibility
There are many reasons networking is important to your small business. It can help you build leads, get referrals, make important connections with people in your industry or community, build your confidence in connecting with others and, so much more. Networking can also help you identify opportunities for partnerships, joint ventures, or expanding your business.
Here are the three most important reasons you should be networking for your small business.
1. Business Leads and Referrals
It is vital to your business’s success that you acquire business leads and gain referrals. Without them, you do not have a business. You should use every social and professional opportunity to meet and connect with new people and use them to open doors for additional business opportunities.
People want to help others so make sure to communicate professionally when you follow up on leads and not badger them for business. Be sensitive to timing and use common courtesy when following up with contacts. When they discover you have value, are courteous, and feel they can trust you with their own network of people, then these connections will be more likely to send you referrals. These referrals will get you higher quality leads compared to the leads you get from marketing, and thus increasing your business. Remember, you’re in the business of building relationships first.
2. Connections
Networking can open the door to talk to highly influential people that can help grow your business. But it’s not just about who you are networking with directly either – that person will already have a network you can tap into as well. With the help of these connections, anytime you need something, you can easily call them to get some help that is needed. Whether you need a residential plumber, a business accountant, or anything else, somebody will know someone who can help you. Also, these people can give you advice on various matters that might help in improving your business.
3. Visibility
Meeting and communicating with potential clients and business partners on a regular basis will help maintain your business relationships. Attending networking events raises your personal profile and can help keep you front and center in the minds of the right people. You can build a reputation for yourself as a supportive, reliable, and knowledgeable person by offering tips and useful information to others.
When you have earned respect from everyone, you will get referrals much more easily. If you’re not out in your community spreading the word about you and your business, you will not be top of mind to those who may need your services or connections.
