Do you know networking is responsible for the success of 78% of startups?
Most startups and entrepreneurs don't have big marketing and sales budgets. Here, professional networking comes in really handy due to the great benefits it offers. So, why not use the full potential of networking for making a solid impact with your business organization.
Let’s take a quick tour to how networking can help you as an entrepreneur.
1. Networking helps in fostering stronger relationships.
Building, nurturing, and leveraging interpersonal relationships is critical for any business entity. It is necessary to stay in touch with your business colleagues, old friends, and customers to make the most out of relationship networking.
Try to connect with them over a cup of coffee during weekends, chat with them during a business event, or invite them for a professional discussion. How you interact with your professional and personal contacts will surely give you a better insight into your life and goals too.
2. Networking helps you build your personal brand.
You are the extention of your brand. Being a startup, you may not have big bicks for PR, but you can definitely get the authority and power to own relationships. When you gain that reputation, people would take big decision on your one signal. Professional networking is the key to strong credibility.
Let lack of huge marketing funds not limit you. Use professional networking as a potent tool to build your personal brand that will, in turn, support your professional brand.
Make it a habit to attend business events, trade expos, entrepreneur summits, business seminars, and advisory committees to build your profile as an entrepreneur. It will give you a credible presence among your competitors and bring potential leads.
3. Networking gets you referrals.
As a startup, all you need is referrals. People refer you only when they know you personally or they have heard about you from someone. They know you when they meet you, talk to you and spend time with you. They will trust you only when they know you. And they like to do business with people who they trust.
Networking helps cut the long sales cycle pretty short, enabling you to connect with your target group personally.
Smart entrepreneurs invest in building successful business relationships with influential people to earn referrals and business opportunities.
4. Elevates your chances of business growth.
95% of professionals believe that face-to-face communication is critical for their businesses. Also, in-person networking helps in acquiring 24% more customers. With a successful relationship networking, entrepreneurs can improve their chances of sales, increase prospects of acquiring new customers, and build solid internal teams.
5. Enjoy social media recognition.
World over 49% of entrereneurs use LInkedin, 37% Facebook and 44% use Whatsapp for connecting and networking for their business goals.
Why? Becasue by using social media networks strategically, you can ampify your brand visibility, target right customers and build a loyal customer base to optimize sales and profits.
6. Networking improves customer relationship and rapport.
Most business owners often ignore old loyal customers for getting new business opportunities. While expanding your business is always a great idea, however, losing your old customers would not be an ideal bargain. Constatntly nurtusring your existing customers by connecting with them via mails, follow up calls or events is rewarding for buiness and rapport building.
If you want to stand out in your business sphere and build networth, be a smart entrepreneur, build your network.