Networking is a major prerequisite for starting up any business with zero capital. This might sound so ironic where the thought of starting a business is concerned, but then, working with good people around will easily generate the start-up capital when people are managed efficiently.
Here are some 9 things you need to know about Networking for business
- Networks Provides you with free services
Instead of hiring consultants who will dish out professional advice to you and still part with some cash, your network of friends or affiliate might be equipped with some professional insight you might never have thought about. While some will charge you less, others wouldn’t charge you at all.
- Your network guarantees you good clientele base
Networking helps bring people who will need your service due to referrals by your friends. Keeping a good network of friends will help your business gather new clients.
- Networks often refer new business Opportunities
New entrants into business need a network to succeed. It is one avenue through which smaller people can be reached. Entrepreneurs within a network easily get new offers and can easily get assistance whenever the need arises.
- You can access loans through relationship
Networking establishes relationships. Most of the time you don’t need a bank to get a loan. However, what you might need is speaking to the right person within your network.
ALSO READ: Growing your Business through Networking
- Networking is cheaper and more convincing than Advert placement
You don’t need to spend too much to get a prospect to patronize you, all you need do is do the talk and ask for their decision. Networking is more productive compared to advert placement; it gives you closer access to your client and provides an avenue to measure their decision taking.
- Networking involves being of good reputation
Before any business owner or contact can network, such person should have been tested and trusted. Networking thrives better in an atmosphere of sincerity and trust. A good reputation makes you credible and quickly accepted.
ALSO READ: Growing your business through franchise: Things to know
- Your network is your asset
Your business net-worth is largely dependent on your business network. Building a good network is gradually saving up some cash for your success which you are sure to withdraw in the nearest future.
- Network might involve attending a friend’s party
As funny as it seems, networking might just be attending a friend’s party, family function or buying such friend’s ‘Aso ebi‘ (family wear or occasion uniform)
- Networking is more effective when talking about your services
You get the best result when you direct your services or product to some selected people. When telling your network about your product or services you can quickly determine the outcome of your proposal to them as (you can get their approval from their responses to you).
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