How to Use Networking to Grow Your Business

Most businesses understand the need to network in order to grow their business and personal referrals are always nice to get and are often the best type of customers to acquire. But like anything networking is a skill and can be perfected with practice which will make a huge difference to the growth of your business.

There are lots of formal networking groups which you could join such as Business Network International (BNI) or Business Biscotti who meet on a regular basis, usually weekly or monthly, and swap referrals. But you could also do it in a much more informal way by using a co-working space where lots of freelancers or small businesses may operate from. The referrals you receive may take longer than at a formal BNI meeting but they can be equally as valuable in the long run.

The key to networking and receiving referrals is something called “Givers Gain”. This is where you always look to add value. You’re always on the lookout for opportunities for others. It could be through a specific recommendation or it could simply be introducing two businesses who may mutually benefit from the introduction. By applying this process you will receive your reward, whatever that may be, further down the line.

Other ways to get better at networking are to improve your public speaking and communication skills. Formal networking groups will expect you to make a 2-3 minute presentation to often large groups of business owners and you want to come across as polished and professional. Even in situations where you meet a smaller group of professionals at a meet up you want to convey the benefits of your business and why people should work with you in a concise and timely manner.

Try and attend one meeting a week, this will be required of you at any BNI group anyway. Many shared offices will host weekly meet ups over coffee and by regularly attending people will begin to recognize and trust you and see you as a reliable and professional person.

There are of course, online meet ups and informal groups where you can swap ideas with other professionals in your line of work. This is the perfect place to network and swap referrals, but always work with “Givers Gain” in mind.

So there you have it, some simple tips to get more from your networking exploits. It all revolves around consistency and application. Put yourself out there, be confident and the referrals will start to find their way to you.