Networking is Inevitable for Business Growth

Thoughts about networking bring to mind an interesting perspective based exploits of an Australian octogenarian. In May 2012, Allan Stewart was recognized by the Guinness Book of Records as the oldest ever graduate, after having completed a masters degree in nursing at 97 years. He had earlier been recognized likewise, upon acquiring a law degree at 91 years.

Early in life, the old man had acquired a degree in dentistry at 22 years, thus practicing as a doctor, for the better part of his years. During the latest graduation, mesmerized media fraternity focused mainly on the old man’s motivation for studying during the sunset years.  When asked about this thirst for education at old age, Allan Stewart had a simple response. “Besides, continually acquiring new friends as I study, it is never too late to broaden your mind.”

Actually, studies in psychology acknowledge that one can broaden the mind at any time. More still, it is scientifically proven that the human brain depreciates by only 3% during a whole lifetime, especially when challenged through continued learning. But, we may perhaps need to delve into this idea of making new friends as age advances.

Agreeably, acquiring new friends therefore broadening personal networks is a necessity, especially for people in business. Why say this? Being a sociable communicator is a great advantage to those engaged in business. Social networks provide forums of learning about new opportunities and trends in business.

Moreover, people want to do business with those they know, particularly in a highly competitive world. Further, people want to be sure that their needs will be met, therefore the tendency to rely on those who have been tested by others, thus the importance of referrals.

In the absence of networks, one of the greatest social skills is ability to develop rapport with prospects. This eventually leads to establishment of healthy relationships and only then can transacting business become a reality. Incidentally, how does one create rapport with strangers in life and eventually conclude business with them? One of the foremost social skills is ability to initiate small talk, especially through asking questions that deal with personal issues. How is work, business or your family for example?

The tendency is that most prospects immediately associate with the personal nature of discussions and easily open up for more, which may in the end lead to great business opportunities.  The more the prospects that one continues meeting, the higher the chances of continually acquiring new customers, thus steady business growth.

While attempting to address this broadening of networks, many business people venture into social amenities such as golf clubs, sports clubs and other social places. Professional associations are also good contact forums. Chances of meeting people of similar minds, interested in one area of business or the other are highly likely. The prospects of exchanging ideas on prevailing opportunities as well as ensuing challenges are also prevalent in such environments.

But, there are other forms of networking that continually move business to new growth trajectories. Network marketing is one such well established avenue that largely thrives through word of mouth or personal selling. Manufacturers or venders of goods and services provide appetizing discounts to users and marketers of their products. The same involve wide ranging products that include food supplements, farming, domestic and numerous other utilities.

The discounts offered on these products are in lieu of advertising through the media and other outlets, thus having the savings being shared by the varying levels of marketers and consumers. Essentially, the benefits of these types of networks are money oriented.

In recent years, there has been a seemingly new form of networking that has continually been taking shape.  Some creative minds have opened networking avenues, which largely happen through breakfast meetings. The trend follows benchmarks already adopted in the developed world.

Personally, I had never taken seriously, the numerous invitations to these networks, until being prevailed upon by a close friend.  During the sumptuous, but not very cheap breakfast, people have an opportunity to introduce themselves, their business brands and share experiences with respect to challenges and ensuing opportunities.

There are no barriers to participation whatever the nature or size of business. You will encounter beauticians, hardware dealers, cloth merchants, auto dealers, lawyers, accountants, auditors, training consultants, printers, branding specialists, building contractors, insurance agents, engineers, IT specialists, architects and so on, all under one roof. The main idea here is to grow business through not only supporting each other, but also extending referrals of known opportunities to one another.

This increasingly popular networking process has gone some notches higher than what most people are ordinarily accustomed to. After introduction, you will need to become a member of the respective networking circle, which operate like clubs, whose main activity is exchanging business referrals.   The membership is subjected to vetting before being confirmed. The vetting is about integrity issues, existence and registration of business.

Once the membership is confirmed and paid for, the next stage is training on how the business of networking is conducted. Thereafter, one becomes eligible for not only monthly breakfast meetings, but also occasional cocktail parties, whereby the networking is extended.

Interestingly, the network members do not have to wait for the scheduled formal meetings. They interact through online hosted platforms whereby, every member can access all others and still transact business or exchange referrals. The details of every member including nature of business are carefully shared, such that all available opportunities are exploited within the network. Alongside, there are constant exchanges of thank you notes and recommendations as the situations demand.

Did you also know that networking is not just confined to business? Informal research has indicated that one of the key benefits in employment is networking, which in turn leads to friendships and sometimes marriage unions. It is possible to identify many couples who initially started off as workmates, only to warm up to one another as the relationship progressed.

Most importantly, networking invaluably contributes to continued business growth if continually harnessed.  It could easily reduce the desperation which is sometimes associated with prospecting for customers, especially through cold calling. The point is that networking in business is inevitable, particularly with regard to maintaining sustainable growth.

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