How Networking Can Boost Your Business Value

How Networking Can Boost Your Business Value

See the source image

Anyone in business knows how to invest money, but only the wise invest in relationships. How much time do we spend planning and executing financial investments? But how often do we invest in our most valuable assets – people?

  • Better Business Chances
  • Increased Status
  • Enhanced Wisdom
  • Positive Effects
  • Confidence Gain
  • Personal Pleasure

Better Business Chances

Strong networks mean strong positions and business opportunities. Leaders today prefer to be involved in important transactions with people they trust. Relationships build and strengthen trust. Serial entrepreneurs, dealmakers, and multi-project players seek out exclusive business networking opportunities.

Alp Mimaroglu, a business writer for Entrepreneur, wrote about how networking creates and facilitates job and business opportunities. The marketing automation and intelligence platform Eloqua was sold to Oracle in 2012 for $871 million. The deal went smoothly because Eloqua co-owner Paul Teshima shared strong relationships with Oracle. Teshima’s network was priceless. Eloqua was bought for over 200 percent of its estimated public market value, boosting shareholder net worth by over $400 million.

Increased Status

Networking allows you to be visible and seen, which is essential for career and business growth. More than that, being seen with the right people can help you gain respect from peers and others in your industry. In business, “it’s not what you know, but who you know.” A successful business requires a large network of relevant connections that can be called upon when needed.

Networking allows you to meet influential people who can help your business. Having a networking relationship with certain people often improves your standing and credibility, which benefits your business. You can also tap into that influential person’s network.

Networking can help you establish a reputation as a knowledgeable, reliable, and supportive person who can help others. That means more leads and referrals because you’ll be the first person they think of when they need your services. The right network can connect you to powerful connections in numerous business and professional communities.

Positive Effects

The people you spend time with shape who you are and what you become. So surround yourself with positive people who help you grow as a business owner and as a person. Positive people naturally exude their best qualities; these are the people you want to connect with.

Those who network are typically people who are striving for excellence in both their professional and personal lives, and who are naturally positive and uplifting. Simply being in their presence charges you. The mindset you can adopt from them is priceless.

Enhanced Wisdom

Networking gives you knowledge power, and not just on the latest big deal. Having like-minded business owners and entrepreneurs to talk to allows you to learn and get advice on any topic related to your business and work-life balance. In this culture, family and business are inextricably linked, so good family and business relationships are paramount.

Networking is a great way to get access to information you wouldn’t otherwise have. Good advice from the right person can help you succeed in business and in life. Conversations, dinners, or casual discussions of mutual interest can reveal this information.

Networking often provides access to advanced training, conferences, and mentoring relationships otherwise unavailable. A top entrepreneur or business owner’s recommendation for a conference or learning path can lead to invaluable knowledge.

Confidence Gain

Participating in the right networks and engaging with strangers will help you gain confidence. As a business owner or entrepreneur, you must be able to talk to the right people and form lasting relationships. Networking is a great way to gain confidence if you lack it. Connecting with others and being accepted into a network is a great confidence booster. As you become part of the group, you gain confidence by opening up and making lasting connections.

Personal Pleasure

In addition to the business benefits of networking, the personal satisfaction of helping others grow and prosper is often the greatest reward. Networking can and should provide both altruistic and business benefits. These may come from casual or structured mentoring from others or from connections with other non-profit network partners.

Networking includes mentoring. Everyone has benefited from a formal or informal mentoring relationship. Bill Gates frequently refers to Warren Buffett as a mentor. Steve Jobs was a key mentor to Facebook founder Mark Zuckerberg. So who is the most important mentor in Ahmed Moor’s and Joy Ajlouny’s lives?

You can help others by sharing your life and business lessons. People invest in healthy people, and healthy people invest in others. The Dead Sea has inlets but no outlets. To be a successful person, we need to receive quality and give quality to others. This is a networking trait.