Business people networking with drinks in a breakout area

The power of networking in business

2 July 2019 

The saying often goes “it’s not what you know, it’s who you know”, and whilst a lot of people might say this ironically, there is an element of truth to the saying.

Networking allows you to meet other business owners and build relationships face to face rather than over the phone or email. This rapport allows you to buy products from local companies, but also allows you to promote your products to other people.

Industry events

One of the best ways to network is by attending industry events relevant to your business or the businesses that could benefit from your services. 

Industry events are sometimes free to attend, but even paying an entrance fee is worth it for the amount of people that you can meet.

Online networking

Whilst some of us may log on to social media to relax in the evening or to promote services online, social media can be an excellent way of networking with industry peers. 

If you aren’t already on LinkedIn, you should take a look, as it can be a very powerful networking tool. LinkedIn is known as the professional social network, where you can explore industry related content, engage with leaders in your field and, of course, network with industry peers.

The six degrees of separation is the theory that all people are six or fewer connections away from each other. It is now believed that, because of social media, this has decreased to 3.5.

Becoming a member of the BNI

The BNI (Business Network International) is a business support network where members can get together and share business practices or referrals. It is estimated that in 2018, UK members of the BNI created £482m worth of business for other members. Globally, this number rises to £15.7bn. 

There are of course, rules and policies which govern how the BNI runs, and how members of a BNI should conduct themselves. Make sure that you know the commitments that you have to make as a member before you decide to join your local BNI group.

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