How to Grow Business Network? 11 Easy Steps to Build A Strong Network

Networking is the most important source for growing and expanding a business. It is the least expensive and the most effective marketing method to build your business. Business networking involves making connections with potential customers or clients and people who might refer to a business or mention your business with their connections.

Networking is often associated with asking for favours, but it is not so; networking is about creating trusted relationships and rapport with other businesspersons. One of the key aspects of effective networking is to help other businesses with their needs which can help one’s own business, in turn, through providing testimonials and referring customers. The key determinant to developing a business network is building a reputable business based on building trusted relationships and using them to meet new prospects that could help in the growth of revenue for the business.

Ways to Build a Business Network

1. Attend business networking events

Almost every event and activity serves as a potential networking opportunity. One must look out for them all since being social is the key to making relationships and eventually building trust. Other ways of meeting new people are through conferences, workshops, private interest groups, parties and alumni associations.

2. Build a trusted reputation

Building a reputation in the market is the first and foremost step towards building a secure business network. People would like to build a business, maybe even personal rapport with someone who is seen as valuable by them and one who has a strong personality and equally helpful, and talented. This initiates meetings in-person as people would be motivated to connect with you. To do so, let people know about your work and achievements or accomplishments through posts, emails, blogs, etc.

3. Develop relationships

Business networking is not about sales but about building relationships that facilitate sales and referrals. The basic idea behind networking is to know people and have them know you, in turn. This can be accomplished personally since a one-time meet up is not enough to maintain a relationship; it requires knowledge and trust, which is developed over time. Therefore, do not attend events or workshops to do new business but make new relationships and maintain the ones that have already developed.

4. Seek referrals

Referrals are one of the most significant aspects and the most useful one in business networking. Customers would certainly know people like themselves who require the same product or service. You can consider asking them for a referral and asking for their permission to use their name to introduce the prospective customer. Then the opportunity of making a call or emailing them could be thought of with a trusted customer and a referred contact at your disposal. The prospect might initiate a relationship with your business upon hearing about the fellow customer and thus help you gain a successful introductory contact.

5. Use testimonials

The customers you have gained over time can prove to be trusted and essential in developing or building your business network. They can advocate your product or service to prospective customers by providing testimonials. The testimonial could be a short and straightforward narration or a longer report providing full details on how your business’s product/service helped them ease their tasks or proved to be successful. It is most likely that the customer would agree to provide a testimonial as it would reinforce their decision to use your product/service. The secured testimonial would later require vehicles to publish it like your website or other willing publishing sites to drive more prospects into your business network.

With internet services as handy nowadays, it is no big problem in creating new contacts. These services help grow business networks with several social networking applications like LinkedIn, Meetup, Twitter, and other networking sites. However, each networking site’s idea and usage needs to be first understood before making them into use. For example, LinkedIn is where you can build and grow your business network. Twitter is a social networking site that can help complement blogs, and Facebook is a site that helps build an online community surrounding your business.

7. Determine a goal

Before starting with your networking endeavours, you need to have a clear objective in mind. Only after choosing your goals should you attend meetings, events, or workshops. For example, your goal might be to create new connections or invest time in the community or simply learn about the latest developments in the market/business industry.

8. Know your worth

It is important to articulate what you do and why you do it, your business product and/or service. The main objective of business networking must not be to build relationships but to convey clearly what your business is about and who your target audience is. It is equally significant to generate an elevator pitch that conveys why the customers should choose your product or service over your competitor’s. This is efficient for goals as simple as generating referrals and building relationships.

9. Talk, listen and identify conversational icebreakers

Many events have several people going about, and this provides a good chance of making new relationships. To facilitate this, sit and start conversations with people you find sitting/standing alone or those you do not know. Also, consider talking with those you already know to strengthen your existing relationship and for future referrals. You do not have to talk about a lot and consider keeping the conversation alive by asking about their field of work, business, growth, etc., and listening carefully. Listening to their answers and their views is equally helpful in building your professional personality as approachable. You may find mutual points of commonality in the business areas, and further, develop those ideas. Attempt to break the initial awkwardness and simultaneously make a good first impression by initiating a small personal talk, such as appreciating their attire, may help initiate a conversation. They might also feel content when talking about themselves with which one can move on to business conversations. Avoid speaking ill about coworkers and other business or companies while looking for conversation starters as this may prove to be negative for your networking success.

10. Follow-up

After having met a prospect customer at a meeting or conference, refrain from sending, for example, a LinkedIn invitation right away. Instead, try meeting the person a few more times to be able to close the deal finally. After making a connection, be sure to try to reach the prospect a few times by inviting them to a workshop or event or business seminar, or forwarding them an article they may find relevant to their business.

11. Be visible and intentional

You might be doing a lot, but it is necessary to tell the others about it; therefore, consider blogging regularly and consistently. Keep in touch with people by telling them about your new business venture or endeavours. Communicate with them via emails, calls, social networking sites and pages. Share with them valuable content and initiate interesting conversations to build a rapport. Spend time with them and their contacts at places they prefer, both offline and online. Do not shy away from asking for help to build a successful and strong business network—ask for assistance. Be sure of what you are seeking before the next meeting or event and share your thoughts when asked. However, refrain from being selfish by talking about yourself and listening less to the others. Look for opportunities to help your networking contacts prosper in their careers since it is all about the give and take relationships while asking favours for yourself/your business.

Also read:

1) What is the Best Social Network for Business and Why?
2) Business Success Tips Every Business Owner Should Know
3) 10 Things You Should Know About Before Starting A Business
4) What Are the Best Ways to Generate Good Business Ideas?