The Value Of Networking!24 June 2010
Here's some staggering facts from a National Pages article - Networking accounts for securing 70% of jobs and in some economic sectors up to 80% of all business is gained through networking. A survey in the Wall Street Journal said that 94% of all respondents found networking a vital part of their business strategy!
The secret of networking is to build up a collection of contacts. If you do not then you will restrict access to many of the opportunities available to you. We all have a 'sphere of influence' of about 250 people, so imagine the size of that sphere if you meet and build a relationship with someone new, and multiply that by the number of new people you meet.
Meeting people face to face offers you the opportunity to gain trust with a new contact by being interested in their issues, not by selling them yours. We are flattered when someone asks for our opinion or advice so make others feel valued too. Forming a relationship with others 'develops a win -win mentality'.
Business success is not just about who you know but also who knows you. Powerful leads come from people keeping you in the loop because they want to. In the last 12 months, it is safe to say that business has slowed down dramatically due to matters beyond your control. That is the reason why attending events has become increasingly more important.
When business is slow you need to be networking more. Why? Because even more than ever, you need to:
- Meet more key people
- Spot potential new business
- See if existing customers and clients need other services
- Hear if prospects are unhappy with their existing suppliers/service providers
- Raise your own and your company's profile
- Find out what your competition is doing
Enjoy your networking!