Why is it important to create a network while starting a business?

Why is it important to network while starting a business

Posted by Dahmari Taplin on July 21, 2021 | Featured

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Kudos on starting your new business!

But, let me ask you one thing. Do you have any contacts in the industry that you are stepping into? Do you know anyone who can help you attract a good audience for your product or service?

If not, then you should definitely think about developing a good network. Every pioneer that has ever risen to a high stature has always credited their success to the extensive network that they created and peers who helped them reach the top.

Hence, you should definitely concentrate on creating a good network while you are starting your business.

Why is networking important?

To succeed and prosper in any industry, you need to create a good relationship with all the important individuals and businesses that are the major players of that industry. Not only does it help you to gain prominence, it also helps you to tap into a wider target audience and convert them into your potential customers.

By increasing your network within the industry, you can get a deeper insight into the latest trends and technological advancements that can help you get a higher edge over other competitors. It can also help you evaluate the best practices and industry standards that you can implement in your business.

Furthermore, having a good network can broaden your prospects and help you provide holistic service to your clients. Each individual of the industry has a unique set of skills and a specific niche that they cater to. If you create a good relationship with such professionals, you can take their help or collaborate with them to offer better services to your clients.

Also, it can work vice versa and you can provide some assistance to them, which gives you an opportunity to tap into their clientele base.

How to expand your network

1. Attend Business Referral Events & Exhibitions

It is necessary to have a solid network base in order to inform people about your business and increase your traffic organically. And business referral events or exhibitions are the best platforms for that as they advertently congregate a huge mass of like-minded audiences who are looking for similar services. Also, keep a thorough list of names and contact information of every individual you meet and diligently keep in touch with them.

However, don’t try to hard-sell your products or services. People at such events aren’t looking to be bombarded with service pitches, and instead, they want to create meaningful relationships with individuals from the industry.

2. Join online forums

Online forums like Reddit, Quora, and other famous platforms can be really helpful in expanding your network. They can help you tap into the online communities where people of your industry congregate and discuss on latest trends. You can help people find solutions to their problems which can pose you as an industry leader and increase people’s confidence in your business.

It can also become a good research source to understand your target audience’s wants and what problems they are facing with the currently available services or products.

3. Be active on Social Media Platforms

With around 4.5 billion active users, social media can be the best platform for expanding your network. It has an infinite reach and can connect you with anyone, irrespective of their country. As a result, you can easily find influential people in your industry and instantaneously tap into the global market.

Furthermore, in the past couple of years, social media has been a hotspot for rising influencers that are drastically impacting people’s buying behavior. If you can collaborate with a few social media influencers, you can exponentially increase your sales and gain people’s trust.

Conclusion

By expanding your network, you can give a good boost to your business as it tries to establish its roots in the industry. In addition, it can help you build a more robust and more reliable foundation on which you can build your enterprise.

To build a strong network, keep communicating with industry leaders and participate in networking events that can help you collaborate with other industry professionals. Stay in diligent contact with them and build a strong relationship with them.

If you want some assistance in building a virtual network, we are here for you. Ziga is a social network of entrepreneurs that can help you collaborate with other visionaries in your industry and help you find entrepreneur partners. As a result, you can easily connect with various entrepreneurs, ranging from different industry backgrounds, and generate a more robust and reliable network.

Are you interested in becoming a part of a global entrepreneur network? Click here to create your profile.