A lot goes into being a successful entrepreneur or business owner, and most of it is focused on building a brand, developing products and services, and creating a legion of loyal customers. We can all agree that they are all extremely important and that you are unlikely to achieve business success without them. But focusing on them and nothing else often means that networking is forgotten.
Why Business Owners and Entrepreneurs Need to Network
It doesn’t matter what industry you work in—or whether you’re a startup entrepreneur or a business owner with an established brand—don’t underestimate the importance of networking. Networking allows you to build meaningful relationships with colleagues, mentors and potential clients, all of which can open doors to new business opportunities, partnerships and collaborations.
Networking isn’t just about exchanging business cards and hoping for the best. It’s about creating a network of supportive, like-minded professionals who can provide advice, resources and motivation when you need it. Owning a business can be lonely, especially when you’re just starting out, but networking helps you stay connected to industry trends and insights and helps you meet potential future investors.
Top tips for networking
Networking doesn’t have to be the daunting or stressful task you expect. Once you have a good idea of how to approach networking and what to expect, it can become an enjoyable and truly rewarding part of owning a business.
- Always be prepared – It may sound obvious, but a surprising number of business owners and entrepreneurs do not properly prepare for networking. It’s a good idea to prepare some conversation topics in advance, including a brief introduction about who you are and what you do, and have a good idea of what your goal is. Maybe you’re networking to meet new people in your industry or hoping to land more clients. It’s also a good idea to do a little research on who will be at the networking event, if possible, so you can take advantage of any mutual connections or business overlaps.
- Get to events early – If you want to impress people, you have to arrive early at networking events. No one will be impressed by being ‘fashionably’ late to a business event, as it suggests that you didn’t care enough to arrive on time. Arriving early gives you time to get your thoughts in order and ease into the event. You can meet a small group of people without being bombarded by walking into a room already full of people who arrived on time.
- Don’t stop networking – Many business owners and entrepreneurs make the mistake of assuming that networking only happens at dedicated networking events, but that mindset can limit your networking opportunities. You can network anywhere and you never know when you will meet someone who could boost your business. You could meet someone through a friend at a social dinner, while standing in line for coffee, or even while on a plane. Wherever you are, there is a chance that you will meet someone with whom you will want to establish a professional relationship.
- Perfect your personal brand – People won’t automatically trust you as a business owner or entrepreneur, you have to build that overtime. When you meet someone at a networking event, it’s just one of the small interactions they’ll have with you, which is why boosting your personal brand is so important. You can showcase your expertise by starting a blog, sharing business insights, sending out a regular newsletter, or appearing on podcasts, panels, or industry events. All these activities share your experience, knowledge and authority within the industry, showing that you are someone you can trust.
- Don’t shy away from asking for help – It’s easy to feel ashamed to ask for help, but people are usually willing to offer their help. Asking for advice or support can deepen professional relationships. This shows that you respect the other person’s expertise, which builds trust. Even if I can’t help, your willingness to ask leaves a positive impression.
- Give back to others – Networking is not only what you can get, but also what you can offer others. By helping others, you create a mutually beneficial relationship. When people benefit from your kindness and knowledge, they are naturally inclined to return the favor. When networking, listen so you can help someone else. You may be able to introduce someone to a contact they need or share advice based on your own professional experience.
- Follow up after – One of the biggest mistakes business owners and entrepreneurs make when networking is not following up afterwards. The connections you make at a networking event are just the beginning, and following through ensures that those interactions lead to meaningful relationships. Following up can be as simple as sending an email or LinkedIn message a few days after the event. Mention something you talked about or share an interesting article; you can even suggest a future meeting to keep the momentum going. This small effort can turn a small conversation into a long-lasting professional relationship.
