"Networking is the single most powerful marketing tactic to accelerate and sustain success for any individual or organization!"
This is the passionate belief of Adam Small, which led him to found Strategic Business Network, LLC in 2004 with a mission to "empower professionals and organizations to forge meaningful and relevant relationships which propel their success."
He is, by no means, alone in this belief. Norvax University points out in their online training course: "Ask any senior executive, politician, community leader or successful salesperson which single skill or habit helped them excel in their career – an overwhelming majority will respond with one simple word… Networking." Financial analyst, Abdelrahman Abdalla, wrote an article in LinkedIn Pulse citing networking as one of the most important skills for the success of your business.
Speaking of LinkedIn, the largest professional network in the world now has over 300 million users with an average of two new users per second. The site accounts for 64% of all visits from social media to corporate websites, compared to only 17% from Facebook. This again is an indication of the importance of networking for any business or career.
The SME Toolkit, a project of the IFC and IBM, also stresses the importance of networking, citing at least four main benefits:
1.Increase sales through referrals
2.Learn things you need to manage and grow your business
3.Find people you can buy goods and services from
4.Stimulate your creativity about new things or approaches for your business
"Knowledge is power," as Littlefinger once said. Especially if you are just starting out, connecting with people who have more experience in business means learning from their past mistakes so you don't have to make them yourself.
Your network is also the best source of opportunities for new customers, suppliers, and marketing channels. Helping out others in your network in return also builds both your own and your business's reputation and visibility. People you meet and build relationships with at events will then remember you when they or someone they know is in need of whatever you happen to offer. In fact, the previously mentioned course from Norvax University calls it the "best form of marketing."
The transparency brought to today's business environment by the Internet and social media has proven time and again that people will only do business with those they like and trust. Networking by means of nurturing meaningful, mutually helpful relationships with other businesses and customers is the best way to grow your business, as well as your local community as a whole.
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