Business networking is how new owners find advice, customers, and support.
Are you thinking about starting a new venture and feeling a little scared and apprehensive? That’s normal. You can build a solid network to help you and find all kinds of support out there.
Business networking is the process of establishing a mutually beneficial relationship with other business people and potential clients and/or customers.
Chances are you already have a collection of business friends, people you buy from, relatives, health club contacts, party friends, work friends and more. You can develop a steadily growing natural network of contacts by starting with the people you already know.
Here is a great networking example: Tom works in a lumber mill doing fine-wood products manufacturing. He discovered that pure, high-grade, kiln-dried wood burns clean with almost no ash. He developed a fire log product by grinding the scraps into tiny particles and molding them into logs—and his networking strategy led him to a buyer for a chain of stores. Their customers loved the product.
Networking is a way of thinking. It’s a way of life for many business people. Build contacts, realizing that even the most casual acquaintances can become something. Take a shot at owning your own business. Expand your network by creating new friends. Be proactive. You’re never alone. Go For It!
— Frank Covich
Practical business networking steps for new owners
Business networking works best when it starts with people you already know. Make a list of friends, relatives, customers, suppliers, former coworkers, and fellow members of any clubs or groups you belong to. Each of them knows other people, and a simple conversation about what you are building can lead to an introduction.
Give before you ask. Share a useful idea, recommend a service, or make an introduction for someone else, and follow up after you meet a new contact so the relationship does not fade. Free mentoring organizations and local business groups are also good places to meet experienced owners who have faced the same questions you have.
Keep a simple record of who you meet and what you talked about, and thank people who help you. Over time, steady business networking turns a handful of casual contacts into a support system that makes starting and running a business feel far less lonely.
Related reading
- Business Opportunity Guides: Every SmartBizOpps Article in One Place
- Business Opportunity Marketplace: The Earn From Anywhere Guide
- SCORE free business mentoring
For more background: Wikipedia: Business networking and Harvard University.
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