Why Networking is So Important for Startups Businesses.
Networking is an essential part of business. Unless you work hard at building relationships with customers and your fellow business professionals, it will be difficult to grow a sustainable business. Unfortunately, many entrepreneurs don’t understand the importance of business networking. They assume that their brilliant idea will be enough to see them through. Sadly, it won’t.
1 Raise Startup Capital.
Networking is an excellent way to raise money for your startup. Most businesses require startup capital to get off the ground. If you don’t have a good credit rating, there are ways and means of raising capital, including Money Hub, but another alternative is to network with potential investors on crowdfunding websites. As long as you have a good business plan and can talk the talk, you should have no problem funding willing investors.
2 Build a Brand.
Branding is very important for startups. People won’t buy from you if they have no idea who you are, so you must spend time building your brand and establishing your niche in the marketplace. Social media is an excellent place to start, so work hard at networking on Facebook, LinkedIn and Twitter. Your efforts will pay dividends in the long run.
3 Build Relationships.
No man is an island. As the business grows, the relationships you have with clients and customers will become increasingly important. Loyalty counts for a lot when you are in business and a loyal customer is less likely to desert you without warning if a competitor makes them a better offer. Use networking events to meet clients and competitors. Be nice and use your communication skills to their best advantage. Making polite conversation may feel like a waste of time, but the relationships you build at these events could come in extremely useful at a later date.
4 Find Support.
Starting a business is a testing time, particularly if you have no previous experience. All entrepreneurs need support at one time or another, so it is useful to have mentors you can turn to when things go wrong or you need answers to questions. Networking is a great way to build a network of support. Go along to local networking events and get to know your fellow entrepreneurs. They are all in the same boat as you, so swap stories and share experiences. That way you can help each other out when things go wrong – as they surely will at some point.
5 Search for New Employees.
As your business grows, you will need to take on new team members. Recruitment agents and job websites are a good place to advertise, but personal recommendations count for a lot, particularly if you operate in a niche area. Instead of advertising your positions on a recruitment website, use LinkedIn to advertise your vacancies. Word of mouth is a powerful tool so it won’t take long before your networking skills help you find the talent you need.
Try to make time for networking at least once a day. Remember, sites like Facebook Twitter and LinkedIn can open up connections you wouldn’t be able to make using more traditional methods.
Introbiz business hosts 70 Networking Business Events in Wales & UK with over 300 members many of the biggest brands in the UK.
See all our latest networking events here http://www.introbiz.co.uk/cardiff-business-networking-events-wales/diary/
Plus we have just hosted Wales Official Biggest Biggest 2016 Expo at Motorpoint Arena Cardiff with over 4,000 businesses attending & 10 WorldClass Keynote Speakers live on stage.
See all the highlights here http://expo.introbiz.co.uk/gallery/
To find out more about Introbiz business network take a look at our website here http://www.introbiz.co.uk/
Want to attend Exclusive Introbiz Networking Event please email the team at Info@introbiz.co.uk or call 07920 772707
We look forward meeting you soon!