What are the benefits of business networking?

As an entrepreneur, networking is a key activity that is not only fun, but critical to your personal growth and business development. Small business is all about networking, building relationships and taking action. This week’s blog will focus on five key benefits that networking can bring to you and your small business.

1. Generation of referrals

The most obvious reason for attending business networking events is that it will help generate referrals. The quality of these opportunities will always be high and usually pre-qualified for you. You are then able to follow up on these referrals and turn them into business opportunities and clients.

2. Opportunities

It is natural that networking will increase your chance of gaining opportunities. You won’t know how or when these will come about but it is important that you are ready, so that you can maximise the potential of the opportunity for your small business.

3. Building connections

By attending networking events, you aren’t just gaining exposure to the people at that specific event. You are also making yourself known amongst their network of contacts. If someone you meet knows of someone who is potentially looking for your services then a good impression could potentially get you a referral.

4. Raising your profile

Being visible and getting noticed is one of the biggest benefits of networking. By regularly attending business and social events, people will begin to recognise you. This will boost your credibility and you are more likely to generate leads and referrals as you will be front of mind when they need what you offer.

5. Increase in confidence

In attending regular networking events you are forced to talk to people you don’t know. It will increase your confidence. This is an important attribute to have as a business owner, because the growth of your business is dependent on talking and making new connections.

So what’s stopping you? Networking is the easiest way to build the credibility of you and your business over a short space of time and with it the rewards of a successful business.