Intro to Business Networking

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  • 0:03 What Is Business Networking?
  • 2:17 Business Networking Benefits
  • 2:59 Three Steps to…
  • 4:07 Lesson Summary
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Lesson Transcript
Instructor: Tara Schofield

Tara has a PhD in Marketing & Management

Networking is an important and valuable business activity. Learn three easy steps to expand your professional contacts and start business networking to make the greatest impact on your business.

What Is Business Networking?

In business, success is often supported by knowing the right people. You've probably heard the adage, 'It's who you know.' There's a lot of truth in this saying.

Business networking is the process of meeting people, cultivating relationships, and interacting with others who are in similar industries. Think of business networking as expanding your circle of contacts and friends, people you can reach out to when you have a question or an idea you want to share. The more you network, the more exposure you will have as a business person, and you will have greater resources and knowledge available to your disposal.

Let's imagine you sell real estate. You have been an agent for several years and have attended association meetings, company lunches, and have been a member of the local real estate agents' group for over a year. During these activities, you have met many other real estate agents in town who have worked with you to sell your clients' homes and help other clients' purchase their dream residences. Beyond other agents, you have also had the privilege of meeting bankers, mortgage brokers, home inspectors, insurance agents, contractors, and other professionals in the home market. Not only have these individuals been helpful when you needed their services, they have also referred clients to you. By networking, you have been able to grow your business and strengthen your reputation in the local real estate market.

Now imagine you are just starting out as a writer. But to be a writer you have to know all kinds of things beyond how to write. How do you publish? Where do you look for publications that would take your work? How do you approach them? How much should you expect to get paid? How should you claim your self-employment on your taxes? All these questions and more can make a mountain of work for you to research on your own. Networking with other writers can help immensely, not only in answering your questions, but referring you to places or people you wouldn't have found out about otherwise. Eventually, you will become an expert yourself and be able to give other new writer's advice or refer people to them.

Benefits of Business Networking

Business networking offers many important benefits:

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