The Power of Business Networking for Small Business Owners

This guest post is written by Jamie Stewart of Circle Networks. He delves into the benefits of networking for a small business, and also gives 5 tips for effective business networking! So grab a cuppa, sit back and enjoy!

Jamie Stewart - Circle Networks

Photo courtesy of Jamie Stewart

Full disclosure Emma asked me to write a blog post about 2 months ago and I procrastinated over it for ages.

Does anyone feel like this with networking? We know we need to do it. We know we need to follow up with people. But we put it off. Why is it we put off all the things that ultimately are good for us and good for our business?

I put off networking for 4 years when I first started my own business. Well, I put off breakfast networking. It seemed like everyone wanted to invite me to early morning networking and I flatly refused.

I started my own business to allow me to drop the corporate grind and be around for my kids. This meant being able to do the school run, as a result I didn’t go to breakfast networking for years.

Then as my kids moved to high school I went along to give it a try and I joined the first day I visited. I jumped in with both feet and made the decision to commit to networking and building my network. I met some amazing people, won lots of business and started a journey to continually improve my networking.

I left the original breakfast networking group years ago, I learned so much, and it started a new journey for me.I might not go to any breakfast events anymore. I network on my terms and have built an amazing networking organisation - Circle Networks that’s now across the UK and has also begun to expand internationally.

• We all network.

• We all have connections that help us with our business.

• While you might not actively go networking, you still have a network.

If you use social media to grow your business, if you use email marketing, in fact if you use marketing in general and you’re not leveraging business networking then you’re missing out on an amazing channel.

Networking quite simply, can be an absolute game-changer for small business owners.

Let’s take a look at what exactly is Business Networking and how can you make it work for you.

At its core, business networking is the art of building relationships with fellow professionals, potential clients, partners, and even competitors. It's about building a web of connections that extends beyond your immediate circle, creating a supportive group of connections where everyone involved can thrive.

Business networking goes beyond exchanging business cards and pitching at people; it's about developing meaningful connections that benefit everyone involved.

The Power of Relationships

In the world of entrepreneurship, relationships are the currency of success.

We know, we live it every day. Business owners wear many hats and operate in niches where personal connections can make all the difference. When you network effectively, you're opening doors to a world of opportunities, partnerships, and collaborations that can significantly accelerate your business growth.

• LINKS HERE

Benefits of Networking for Business Owners

1. Access to Knowledge

Through networking, you gain access to a wealth of information, insights, and experiences that can help you make more informed decisions. Learning from others' successes and failures can save you valuable time and resources.

2. Referral Opportunities

One of the most valuable aspects of business networking is the potential for referrals. When people know and trust you, they are more likely to recommend your services to their own networks, expanding your reach exponentially.

3. Partnerships and Collaborations

Networking opens doors to potential business partnerships and collaborations. These can range from joint ventures to co-marketing efforts, allowing you to tap into new markets and resources.

4. Increased Visibility

Being an active participant in networking events, industry conferences, and social media platforms can enhance your visibility within your industry. This increased exposure can lead to new clients, media opportunities, and speaking engagements.

5. Personal Growth

Networking is not just about your business; it's about personal growth as well. Engaging with a wide range of individuals hones your communication, negotiation, and interpersonal skills, making you a more effective entrepreneur.

5 Tips for Effective Business Networking

1. Be Genuine

Authenticity is key in networking. Approach interactions with a genuine desire to learn about others and offer value before expecting anything in return.

2. Listen More

Often, we're eager to talk about our own things, but listening actively allows you to better understand others and identify how you can be of help.

3. Give Freely

The Law of Reciprocity states that when you give without expecting, you receive in abundance. Offer assistance, insights, or introductions whenever possible.

4. Diversify Your Network

Don't limit yourself to your industry alone. Networking with professionals from diverse fields can lead to unexpected insights and collaborations.

5. Follow Up

After networking events, follow up with new contacts promptly. Nurture these relationships over time to ensure they remain valuable.

My own networking took a huge leap forward when I took a course on how to build my network, I became a coach to help others to learn from my own experience and win more of their ideals clients to ultimately earn more and work less. I help entrepreneurs move from “going networking” to building a network and know what activities to focus on to get the results they want.

Emma has had huge success in 2023, throwing herself into networking, sitting my Sales and Networking Accelerator and booking for the big upcoming Circle Networks Live event in Birmingham. With a mix of training, networking and working on your business it could be the best investment in your business this year.

To your success,

Jamie - Connect with me on LinkedIn here