Entrepreneurs are passionate about what they build. They are of the belief that whatever they are building, customers will come and buy it. But, in the present days, only hope is not enough to get a customer buy your products or services. New marketing strategies are continuously required if the business needs to expand. Marketing brings in leads, which are converted into sales.
But for freelancers, consultants or small business owners, the major area of concern is high marketing spends for lead generation and the low return on investment (ROI) because lack of proper understanding of effective marketing. SMEs have very limited cash or resources and there is always a fear that ineffective strategies will waste significant time and resources. In this situation, Business Networking is the first and best step forward for a business owner!
Business networking is nothing but an effectual low-cost marketing method for developing sales opportunities and contacts.
In other words Business networking is leveraging your business and personal relations and associations to bring you a regular supply of new business. Networking is generally done either face-to-face at meetings and gatherings. These days people experiment with Facebook and Whatsapp for creating business groups mainly because there is no platform specifically built for business networking.
The important reason why people believe is networking is that is offers a direct access or way to reach decision-makers. The same is very difficult using traditional advertising and marketing methods. Apart from that, networking comes with an added benefit of recommendation and personal introduction, which are always very helpful for building business opportunities
For many, Networking might be just showing up at networking functions, shaking a lot of hands and collecting a bunch of cards. These days there are lots of networking platforms available. Many people might even be attending those But, unfortunately, very few know how to network effectively.
Networking is more than just getting out and meeting people.
Networking is a programmed and controlled plan to meet people who can be the clients or can introduce the entrepreneurs to people in their knowledge to do business. Networking a business is to work on self and the enterprise. The key to effective networking is doing something different and specific on each opportunity that is focused on building or leveraging relationships for business growth.
With the advent of several new technologies, business networking can also be done virtually through the use of online Business Networking sites.
The online medium may have the extra benefit of being able to network and connect with global members as well as local.
Networking in short is a creative and productive way to build relationship and business in general. To succeed you must continually connect with new people, cultivate promising relationships and leverage your network. It will be always an ongoing and long term method, but can be very effective.
For networking to work, it requires to go beyond the comfort zone, challenge self and becoming proactive.
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