Networking is so important for any entrepreneur, for people who are thinking of starting their own business, and generally helpful for people in the world of ‘business’. But why should you put yourself out there? Here’s our top four benefits of networking:
- Strengthen Business Connections
Networking is about sharing, not just taking. It’s about developing connections with people you can trust and helping each other to achieve your goals. If your business or organisation can assist someone in fulfilling their goals, you sow the seeds for reciprocal assistance when you need help in achieving your own goals. If you develop a large network of strong business connections, whenever you have a problem or need assistance you have a list of people you can ask for help, giving yourself a fighting chance to solve your problem.
- Gather A New Perspective
By Networking and developing a web of people you can call upon for advice and help, you can always have an outside, different perspective on your business. This could be especially helpful if you receive advice from someone who isn’t involved in the day to day running of the business, someone who acts without bias. This can be very positive as it can help you see things in a new light and help you overcome roadblocks that you could have struggled to overcome otherwise.
- New Customers or Suppliers
Networking can come in especially handy in terms of sourcing new customers or suppliers for your business. When meeting new people, you may offer a product or service to someone who is looking for something along those lines, and with that you’ve just sourced yourself a new customer. This also works the other way round, when you’re out networking with new people and someone is telling you about their business, they may offer a product or service that you are looking for – be it for your business, or for personal use. If this happens you’ve just sparked the start of a new relationship that could flourish over your business’ journey.
- Benchmarking/Get Fresh Ideas
Networking can be a fantastic way to source new ideas for your role and your business. Bouncing information about challenges, experiences and ideas off your network of people is particularly helpful as people outside of your business can give you a new perspective as mentioned before. If you come across somebody in your network who has an element of their business that you think will succeed for your own business, you can adopt this as an idea and attempt to implement it in the future. Networking is a powerful tool for all involved.
Convinced? Book onto our next Peer Networking Group for all Entrepreneurs on Monday 14th of November to meet likeminded Women in Business in Liverpool.
If you have a business registered under 42 months within the Liverpool City Region or are looking to start a business – Enterprise Hub can support you! Get in touch with us at enterprisehub@thewo.org.uk