Good Business Networking
Networking is a fantastic way for any small business or startup to supercharge their growth. But getting the most out of good business networking takes more than swapping business cards – it’s about building meaningful connections that can bring new ideas and opportunities, boost your visibility, and help build resilience in a challenging business environment.
In this article, we’ll explore why networking matters and who you need to connect with, and discuss how to build relationships that truly benefit your business.
Why is good business networking important for startups?
Having the right connections can make all the difference when you’re launching your business. Here are a few ways that networking can help in those crucial early stages:
- Access to knowledge and resources – Networking connects you with experienced business owners and professionals who can share their expertise and experience. From advice on funding and marketing strategies, to navigating business challenges, these invaluable insights could take years to learn on your own.
- Opportunities for collaboration – Networking opens the door to partnerships that can drive growth and innovation – from supplier relationships to joint ventures that align with your business values and goals.
- Increased visibility – Having a strong business network helps put you on people’s radar. This increased visibility can lead to new customers, investors, and supporters.
- A support system – owning a business can be a lonely journey, but being in a space with like-minded people brings peer support, accountability, and encouragement.
#designtip – your brand identity plays a key role in networking. A strong, consistent visual presence – such as business cards – makes you more memorable and credible. First impressions matter, so ensure you reflect your values and professionalism.
Now we’ve covered the “why”, let’s take a deeper look at how to make networking work for you.
Find and connect with like-minded entrepreneurs and organisations
To get the most out of networking, you need to connect with the right people. Here’s a quick checklist to help you identify and connect with the most valuable contacts:
- Identify your niche – Ask yourself what kind of network you need. Are you looking for industry-specific contacts, local business owners, or nation-wide connections? Once you have your niche, you can focus your networking efforts.
- Use digital platforms – For social media, LinkedIn is hands-down the best platform to connect with professionals in your niche or locality. Beyond socials, use sites like Meetup to find events, attend industry forums, and even join Facebook groups to find and engage with people who share your interests.
- Attend local and national events – Conferences, trade shows, and workshops are the perfect place to meet new people in-person and get connected. Some forums offer virtual events for those who can’t make it in person.
- Participate in online communities – Platforms like Slack, Discord, and Reddit often host industry-specific discussions which are a handy way to engage with (and learn from) other professionals in your niche. They can also give you a valuable insight into the experiences of up-chain and down-chain organisations.
#designtip – networking is about connection. Attending events that don’t align with you or your business won’t be productive. Focus on spaces where you can build meaningful relationships.
Build mutually beneficial partnerships and collaborations
Networking isn’t just one way traffic: in fact, what you can offer matters just as much as what you can gain. Here’s how to create valuable, lasting partnerships that benefit everyone:
- Focus on shared goals – collaboration works best when all parties benefit, so identify your shared objectives and make sure working together is mutually rewarding.
- Exchange value – Whether it’s expertise, resources, or referrals, offering value in return for support helps build strong, lasting relationships.
- Maintain transparency – If you want to build trust from the start, be clear and honest. This will also help to manage the expectations of the other parties and prevent misunderstandings further down the line.
- Document agreements –You don’t need a formal contract for every partnership, but if you are going to collaborate it’s useful to clarify everyone’s roles and responsibilities in writing.
#designtips – networking isn’t about selling your services or products; it’s about adding value to others. This could mean offering your expertise, providing support, or connecting them with someone who can help.
Leverage good business networking events, both online and offline
Now we come to the bit that people either love or hate – attending networking events! However you feel about these events, be they in-person or virtual, there’s no denying that they can be an excellent way to expand your circle. But, you need to approach them in the right way. Here’s how to prepare and get the most out of good business networking events:
- Prepare before the event – Research who will be attending (and who you want to connect with), set clear networking goals, and don’t forget to prepare a short, engaging elevator pitch about your business.
- Engage during the event –Don’t be afraid to approach people and show an interest in their work. Make sure you actually listen to their replies and ask a few follow up questions. Be sure to exchange contact details with them if you’d like to chat more after the event.
- Follow up after the event – A quick email or LinkedIn message thanking the person for their time can help strengthen new connections and leave the door open for future collaboration.
#designtip for virtual events – Make sure your tech setup is working smoothly and you’re logged in ready to go from the start. Once it’s underway, don’t just sit silently with camera off – participate actively in any chats and Q&A sessions, and make sure you follow up with attendees afterwards, just as you would with an in-person event.
Turn your connections into long-term, meaningful relationships
Building a strong network isn’t just about making one-off connections; it’s about nurturing relationships over time. Here’s how to develop lasting, meaningful connections:
- Consistency matters – Stay in touch with your new connections regularly after the event. You can do this by sharing useful resources and information, engaging with their content online, or even just occasional check-ins to see how they’re doing.
- Offer support – As we said above, networking is two-way traffic – it isn’t just about what you can get. So, become a valuable part of your network by offering help, introductions, opportunities, and advice.
- Be genuine – Authenticity is key to building trust with your network, as it is in any relationship. So, make sure you approach networking with a genuine interest in others rather than just focusing on what they can do for you.
- Evaluate and nurture – Not all connections are equally valuable and you can’t be there for everyone all the time. Instead, focus on nurturing the relationships that bring the most mutual benefit and where you feel a real rapport.
#designtips – the size of your good business network is up to you. Some prefer a large, diverse network, while others value a smaller, more intimate group for support. Focus on what works best for you and your business – but remember, if you’re not adding value to others, your network won’t last.
The next steps…
Networking is a key part of the growth strategy for any startup that wants to succeed. It helps you build your knowledge base, navigate challenges, drive innovation, and build a supportive community of peers and partners. Whether you’re just launching, or if you’re an established small business owner looking to broaden your connections, building strong relationships now can lead to exciting opportunities in the future.
Ready to get started? Try one of these simple steps over the next week and watch your network grow:
- attend a local networking event,
- join an online community,
- or reach out to a potential connection on LinkedIn.
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