How business networking works is something everyone who is new to networking wonders. Networking is essential for business growth. It’s not just about shaking hands and exchanging business cards. When done right, it’s a powerful tool that helps build meaningful connections and grow your business. Here’s how business networking works.
Three Core Principles of Networking
At the heart of successful networking are three essential principles: rapport, relationship, and referrals. These three work together in harmony, and you can’t have one without the other.
Rapport
Rapport is about building trust. Firstly, when you meet someone for the first time, the first step is to establish common ground. Secondly, it’s the foundation upon which every strong relationship is built. Rapport is so important that as part of our membership, we cover this in our new member networking training program.
Relationships
Make sure that you develop relationships over time. Once rapport is established, genuine relationships begin to form. These connections are the backbone of effective networking. You must work on the relationships before the referrals will flow.
Referrals
Without doubt, referrals are the natural result of these relationships. Importantly, people are more likely to refer business to those they know, get along with, respect, and trust. Furthermore, without rapport and a solid relationship, referrals are unlikely to happen. But when these three come together, networking becomes incredibly powerful. For this reason, it’s worth investing your time into building rapport, relationships, and referrals.
There’s More to Networking Than Referrals
While referrals are an important part of networking, there’s much more to it than that. Networking groups offer a wide range of intangible benefits that go beyond just business leads.
Support is invaluable. In a good networking group, you’ll find like-minded people who are there to cheer you on. You’ll be amazed by the amount of support you will received from your networking peers. Particularly, when you need it most.
Camaraderie builds over time. As you spend more time with your group, you develop close bonds with the members. Aside from getting to know your business and members getting to know about yours, the intricacies of our personalities shine too.
Motivation is a huge plus. Being surrounded by other business owners helps keep you motivated and focused. Undeniably, we all have good days and bad days in business. Plus, the highs and lows of business ownership to contend with. There’s something extraordinary that happens when you’re supported by the right people. I often hear from our members how starting the day with networking helps keep them super charged and motivated all day.
Fun should not be overlooked. Networking doesn’t have to be all business or be boring. Enjoying the company of others and having fun is key to building lasting connections. In my experience, a networking group who laughs together, bonds together. So, enjoy and have fun while you’re networking. If you’ve been to other networking groups that appear too stuffy and formal for you, then find an alternative. There’s a networking group out there to suit everyone.
All You Have to Do Is Be Yourself
One of the biggest myths about networking is that you need to put on a formal front. This couldn’t be further from the truth. Authenticity is what truly matters. Being yourself is enough.
When you’re part of the right networking group, you don’t need to worry about formalities. You’ll be accepted for who you are. It’s your personality, passion, and integrity that make you stand out. Just be yourself, and the right people will be drawn to you. No bravado or containing your inner self. Just be your true self and let your personality shine through.
Networking Only Works If You Do
The best networking in the world won’t work if you don’t. If you’re joining a networking group, regular attendance is crucial. Building relationships takes time, and you need to be present to make it happen.
One-to-one meetings are key. Take the time to get to know the people in your group. Understand their businesses, and think about how you can help them.
Give as much as you can without expecting anything in return. The more you give, the more you receive. As Brian Tracy famously said, “There’s no traffic on the extra mile.” Focus on helping others, and referrals will naturally follow.
Make sure that people understand you, your business, your objectives, and who your customers are. Educating others about your target market is essential to being able to get referrals. The more they know about you, the easier it will be for them to help you get referrals.
How Networking Works In A Nutshell
In a nutshell, business networking works when you approach it with the right mindset. Find a networking group that suits you, and make sure you’re committed. Get out there and have fun while mastering the art of networking. Remember, it’s essential for business growth, so take the time to find the right group.
If you’re looking for a business networking group that’s built on trust, relationships, and support, come along as a visitor to one of our Better Networking Hubs. You’ll experience the benefits first-hand and see how we can help you grow your business.
The upshot is, networking only works if you do! Put the effort in and reap the rewards!
Personal Thanks
As a fellow business owner, I still remember attending my first networking group, back in 2003. My experience as a marketing consultant,
organiser of networking groups, and being networking trainer, means I can totally relate to what it’s like when you’re new to networking. So, I’m here if you need any additional support and advice. Feel free to get in touch if there’s anything I can help with. You may find some of my other blogs useful. Alternatively there’s my podcast. The first season was called ‘How To Be A Networking Ninja’, which you may find useful. This is available on all major podcast platforms like Apple, Spotify, and Amazon Audible. In the meantime, my personal thanks for reading my blog, which I hope you found useful.
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