You think that your business is running smooth, you have good clients, partners and you don’t need anything else. Why do you need networking in this case?
First of all, congratulations on a successful business! Yet, keep in mind that business is fluid and not stable (in a good way). Your company is always growing and tomorrow you may need new partners and clients. Where will you get them? To avoid situations like this it is important to keep networking constantly and have your professional business network updated with fresh names and faces. You don’t have to spend too much time, but there has to be a strategy .
Here is a breakdown of some benefits of networking.
- Know what’s new.
Network in business is the best way to stay in the know. By attending the networking events you get to talk to people about new and upcoming trends, rules, laws, events, etc. All this information is important when it comes to navigating your company.
- Generate new ideas.
Business and networking go hand in hand when it comes to new ideas. By talking to other people from the industry you can kick around some ideas and get other people’s perspective on your suggestions and maybe save you the trouble of doing something that already exists or encourage you to take an action.
- Have new suppliers and partners in the pipeline.
Loyalty is great. It is amazing that you already have a team of suppliers that you work with all the time, but it doesn’t mean that you can’t meet the others. It is always helpful to see who else is in the business, what are their rates and what services they offer. You may need to use their help when your business grows.
Many professional networking organizations like BIN and others encourage members to exchange referral business opportunities. And it works great for everyone. You don’t have to pay a lot of money to practice the same in your everyday networking. If you know someone is looking for a supplier – share the contacts of someone you are currently using. Remember the karma rule – what goes around comes around.
- New business opportunities.
Combining all the above benefits you open yourself up to new business possibilities. Systematic networking helps you stay focused on your market and niche needs as well as on any new opportunities that open. You just must be open and keep the needs of your business a priority.
As you can see, networking is not only for a new company trying to spread the word about themselves and gain business but for anyone who is looking to stir up the pot and avoid stagnation.