The Competitive Advantage of Networking

  • Posted on: 1 January 2018
  • By: Leonard Shostak

Networking is a great way to gain new clients. There is no means of online networking that can replace the power of building relationships face-to-face. According to a study, 95 percent of business owners say face-to-face meetings are essential for long-term business relationships. Not being a part of these groups is simply not an option if we want to grow our business. Despite operational difficulties this is a way to learn and figure out new ways to fine-tune strategies to increase opportunities as we gain knowledge through others' expertise. Networking will open doors to people whom we may not have had the opportunity to meet otherwise. A few advantages to networking include:

  1. Exposure/Connections: Being able to be in-front of people will increase the chances of gaining business, after all many times is about who we know. Tapping into other’s network increases the range of business and knowledge.
  2. Building a reputation: We may find ourselves offering helpful advice and gain more leads and referrals.
  3. Increased confidence/self-satisfaction: As we speak to more people, we find that we become better at introductions and networking. As a small business owner this is essential as we build connections.
  4. Information sharing: Networking provides opportunities to ask questions and receive feedback.