Importance Of Networking In Entrepreneurship To Grow Your Business
Building a business is tough but it helps if you have a network around you. Discover the importance of networking in entrepreneurship and how to build that network.
Hi Trish Davies, here, the topic for today is networking and the importance of networking in entrepreneurship. Networking has been an invaluable lesson that I have learnt and now mastered over the last 15-20 years.
Often when entrepreneurs start their journey it is done on the one-man band principle. Donning many hats all at the same time but there are only 24 hours in the day, therefore that journey can become difficult and lonely.
When you start building a network then that load is somewhat lifted if you have the right people behind you. That applies to friends, industry professionals, like minded people and even customers to operate your business on a daily basis.
Over the years I have built a vast network than spans the entire world. Everywhere from the USA where my real estate business is to Europe, The Far East, and my home soil of Australia.
That network incudes my personal mentors and coaches, industry connections, employees and team members and my own clients and students. Therefore, I know that when I need to speak to someone there is always someone available in some part of the world. A network is a safety net, so you never feel alone or isolated.
To expand on that I am going to share with you 6 insights on the importance of networking in entrepreneurship. After that I an going to invite you to become a member of a very exclusive network that I have built. More on that shortly.
The Importance Of Networking In Entrepreneurship
The Sharing Of Knowledge
When you network with industry peers and clients you expand your knowledge. Knowledge of the industry, the latest trends, demands, technology and customer needs and wants.
Sharing knowledge ensures that you have your finger on the pulse and it helps you and others to move forward.
Provides An Opportunity To Gain Referrals
Word of mouth marketing is one of the most powerful ways to grow your client network. If you are in the busines to business sector (B2B) your existing clients will have their own connections. Within those connections there will be people who are also looking for your solutions, therefore you will be referred to those people.
Even in the business to consumer sector that same thing will happen. Your existing satisfied customers will know people within their own circle of friends and associates. Again, you will gain referrals to help expand your network.
Opens Doors To Opportunities
Networking will open many doors to potential opportunities of which some you will move forward on. For example, you may provide a service that compliments another business owners which enables you both to join ranks.
New ideas will be created which could then lead to new projects being developed. The power of this is that two networks combine which causes leverage. You can leverage both networks and introduce your new concept which will be attractive to a certain number of people.
Enhances Your Authority
Business are build upon reputations and establishing authority within your industry and business in general. When you expose yourself to wider networks your reputation will grow which has the potential to grow your sales.
Increases Lead Generation
When you grow your reputation and profiles you will obviously meet more people. Therefore, the more people you meet the more leads you will generate for your business.
It is a great filtering system to ascertain which of the leads are aligned with what your business provides. The ones who are aligned have the greater potential to then convert into customers.
Align Yourself With Likeminded People
Networking is also a great filtering process to connect with people who are on your wavelength. Not everyone will be which is fine, but you will connect deeper with people who think the same and have the same values as you do.
You will be able to learn from their experiences, the good and the bad which can only be good for your business. Likeminded people will also open you up to new ideas and concepts which can be reciprocated back. Always remember you have value to share which is beneficial for other parties.
Start Building Your Network With Build Your AU
I have shared with you some insights on the importance of networking in entrepreneurship. What I want to do now is give you the opportunity to start building your network immediately with Build Your AU.
Fundamentally Build Your AU is a community and a network of highly motivated entrepreneurs. Build Your AU is a mastermind where those entrepreneurs come together, help, support, and collaborate. The sole purpose for that collaboration is to build highly profitable online business by sharing what they are good at from an authentic place.
I have members from all over the world, all with different backgrounds and from different industries. This creates a vacuum of knowledge, experience, and expertise that everyone benefits from and create partnerships.
Build Your AU also shows you how to create external networks both in the business and personal sectors. I will show you how to attract your ideal audience, where to look and what message to deliver.
Entry into the Build Your AU community is through an intensive 9-week training program. The next rotation is about to start in a weeks’ time. Within this program you will learn the 9 steps to creating a personal brand. One of those 9 steps focuses on networking to create business connections and connecting with a wider consumer sector.
If the idea of joining a community of digital entrepreneurs appeals to you then click the image below to enrol into the program. We start in a weeks’ time so don’t delay with your registration. Make today the day you started to build your network of influence and support.
You now know the importance of networking in entrepreneurship so make sure don’t miss out on this opportunity. Register today and I will see you next week within the Build Your AU network.
Helping you build your authenticity, authority, and audience.
Trish Davies
Build Your AU
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