IMPORTANCE OF NETWORKING IN BUSINESS

Abstract

The following article looks at a fundamental aspect of any firm operation: business networking. It also showcases how networking aids the business owners and the companies reveal unknown opportunities, acquire new knowledge from professionals and gain new market share. One way of doing this is by marketing to business professionals across different industries thus able to gain information, partnerships, and markets. There are issues dealing with networking for instance the time and effort that is needed in the process, and the fact that, it creates a situation where people make friendships that are shallow. It also focuses on the networking aspect it is not just the accumulation of numbers, but rather developing strong working relations with the people. Networking is one of the biggest ways of expanding and, based on those examples, successful people from the business world prove that. Howard Schultz, former CEO of Starbucks, used international links to grow Starbucks while Elon Musk, influenced his initiatives from business and technological mentors. In other worlds, Sara Blakely the founder of Spanx incorporated networking to gain important manufacturing information and expand on the same. The same applies to Ruthie Davis; a footwear designer built her business by working closely with some of the best retailers this means that networking is not only essential in the corporate world but it is also diverse in profits. The article ends by offering specific strategies for organizations to pay attention to persistence, finding a mentor, and reaching beyond friends and acquaintances to motivate long-term success. Strategic networking is not conducting business by merely attending events or having contacts. That is why it is about intentional relationship-building. In other words, the process begins from the definition of connectors who can offer information, business opportunities or guidance in subjects which might be of interest to the business entity. Connect with them via LinkedIn, professional associations or carriers’ events and do that with purpose and which could be to learn from them or seek business opportunity with them. For example, have specific networking targets, like making two new acquaintances within the industry you are interested in every month, and always have some type of planned further agenda. In the long run, this unity and dedication will foster the creation of a network that supports your business growth essentially.