Do you network enough?

[movietub]

I've been posting on here for a while now and it strikes me that a lot of people run their business day to day by refining things, solving problems and basically looking internally. This is great and something all businesses should do but equally its important to grow the business. One of the best ways to do this in my experience is to meet new people and both be in a position to mutually benefit each other.

This forum has helped me do this no end, apart from the obvious exchange of advice and experience (and more opinions than can be beaten back with a large stick) the ability to uncover unused potential is great.

For example I'm currently talking to a couple of people about relocating something large I currently store in Aberdeen close to home. Simply by posting looking for storage. The end result will be that I will pay less than I am doing currently and the person I go with will make money out of dead space. In one case this led onto a discussion about possibly using the item to be stored (a large underwater filming tank) from its new storage location rather than just hire it out and split the new revenue stream.

Not just on here either, on a day to day basis I'm addicted to picking up on anyone else who runs a business and cross referencing to see if their is any potential for cross pollination.

I think its sometimes overlooked as a way to expand into new areas. Most of us spend money on some areas of the business which are never fully utilized. An exchange of such resources can cost nothing, maybe even save money, as well as open up new ways to make money.

Any other good examples?

 

[My Owl 1]

Couldnt agree more. I am in the utilities business and I know that it is possible to save many businesses on their energy,internet and phones, which is also a way of making money too! I also like referring people on to good communicating businesses that deserve good recommendations and we all require each others services. That is one way we are all going to survive this economic turmoil.

Best wishes and good luck

Avril

http://www.savemoneywithus.co.uk

 

[domokun]

Im trying but it's difficult.

Next year Im thinking of signing up with my local chamber of commerce.

 

[Aspect Investments]

Networking is probably the most successful way of building a business. You only have to look at dragons den to see that.

 

[Marzipan]

Good post Movietub and I agree that it's a marketing tool that's often overlooked, however I do think there's a fine balance (isn't there with everything anyway) because I've seen others spend so much time networking that the actual running of their business suffers as a result. One competitor in particular focuses on networking so much that he has no time at all for other tried & trusted methods of increasing his business. Which is good news for us so in that respect I think he's doing absolutely the right thing! In my type of business the opportunities come from looking at the complimentary types of businesses that we come across, not from having breakfast meetings with a bunch of solicitors et al.

Was very interested in your tub by the way, being 45 mins away from Peterborough and having the physical space for it (and a fascination with behind the scenes stuff on filming) it sounded great - the downside being that the space is currently occupied with 1001 other things.

 

[FreelanceSEO]

I'm quite obviously bias here but I do think that Networking is an integral part of any business, whether that be online or offline.

Completely agree with the OP that we should be constantly looking for new ways to form partnerships with companies that we have synergy with. IMO it is the fastest way to build any new business.

 

[redecho]

I really need to do more networking, it's just finding them time, especially as I have to travel a bit to get to events.

Number 1 on my New Year's Resolutions though!

 

[ThePrintBarn]

A penny saved is a penny earned as my old man always says! networkings great, not only does it increase your potential customer base but can also bring in fresh suppliers, ideas and avenues of pursuit

 

[james_nic]

I've been posting on here for a while now....

Almost 1 month

Besides this I couldnt agree more with you and a great post.
Networking is such an important part of business building and it does aid the saying, "its not what you know it s who you know."

I always make the effort to make a minimum of 10 connections every month and I always carry a business card - you never know when you might need it!

 

[movietub]

Almost 1 month

Ok - a short while but I have posted a lot! All in the name of networking.

 

[faststaff]

I do bits and bats of networking, and really should increase this, but I find them a little too "overt" at times. I've been to events where it really is a case of see how many cards you can collect. I don't think these work very well

 

[movietub]

I do bits and bats of networking, and really should increase this, but I find them a little too "overt" at times. I've been to events where it really is a case of see how many cards you can collect. I don't think these work very well

I think that's the most common form of networking but also the least effective. I think the best networking tends to occur during everyday conversations - so long as you are on the lookout for opportunity. I think when outside of a sales or similar event business people can be more relaxed and very open to discussing ideas.

Some sales rep's would say they network at events but really? - they are just selling!

 

[FreelanceSEO]

The problem is that you tend to find many people mistake networking with selling. Networking is about developing relationships and obtaining referals from that network. Those who are out purely to "take" rarely do well out of it.

 

i try to find time for networking as its very useful not just for selling but also finding new suppliers ext

 

[martin@cc]

networktechnology - you hit the nail right on the head there