An Entrepreneur’s Guide to Building Networks Using Digital Technology

networking concept

Networking is equivalent to business growth. A great connection of business networks is an entrepreneur’s best asset. Having one helps generate fresh business ideas, find clients, and work with advisors, suppliers, and financial partners. In fact, small business owners and new entrepreneurs are the ones who greatly benefit from networking efforts. It serves as a great opportunity to communicate with other professionals who know the ins and outs of their chosen industry.

Working with HUBZone IT consulting firms is also a great way to build business contacts. Firms offering IT consultancy help IT businesses in underutilized areas gain access to procurement opportunities and gain better footing in the ever-competitive IT marketplace. But aside from business consulting firms, there are plenty of ways to open your doors for a compelling professional network.

To reap the great rewards of a business network, it is important to learn how to develop one. This article will discuss the proven strategies to grow your business network and foster better connections in the industry while using technology. These suggestions will not only help form new contacts but create great business opportunities for your startup business.

Decide what you can offer

The first rule of networking is to understand that a network doesn’t simply exist to serve personal purposes. Before building a network, learn to adopt a giver mentality to discover what you can offer to your chosen contacts. A network can work at its greatest potential if each member is exerting efforts in providing comprehensive contributions to the group.

You will only reap the rewards of a good network with valuable social capital. Once your contacts recognize the things you can offer, that will be the best time to ask for special business favors. Think of having a personal bank account. You will only get something if you make a deposit. That is why it is important to showcase your expertise or present your contribution before expecting anything from them.

Start by offering help or working with a valuable contact you will find useful along the road. If you have a limited business circle, there are plenty of business networking platforms on the Internet. You can also strengthen your online presence and build your network using social media sites, such as Facebook and Twitter. What’s great about them is that they are free and that they serve as a form of word-of-mouth marketing.

When dealing with a network, there is no need to give them a huge favor. You can start by introducing a business contact or supplier or sending them informative online content related to their industry. Play your part by showing them you are a worthy business connection.

Build your network early on

Before building a network, it is important to navigate your timeline and business goals and find opportunities for how your network fits into the picture. When setting goals, make sure to stay realistic. For example, if you’re working on a big project you need to accomplish next week, don’t expect your contacts to drop everything and assist you.

To help create realistic goals and projects, there are plenty of online social networks for entrepreneurs that offer fresh ideas in the business landscape and encourage idea sharing from veterans and other business owners. At the same time, these platforms offer resources and networks to form business opportunities.

business networking

That is why building a strong network is the key to maximize its benefits once the opportunity arises. Keep in mind that forming networks takes years to build, but they will prove useful in the long run. The process starts by familiarizing yourself with everyone, learning to be a giver, gaining their trust, and giving them the right opportunity to help you.

If you have a goal you want to achieve in a year and think one of your networks can prove useful, take time in building relationships with them to reap the rewards once you need it. So if you haven’t built your network, the best time is to start now.

Stay in contact

Once you established your position and created value within the network, start looking for prospects who can lend their expertise. Be careful when asking for favors from someone if it is not within their expertise. Unfortunately, this is a usual mistake among rookie networkers by asking a contact about a favor that is beyond their capabilities. Doing this will only injure your relationship by making them feel hesitant to work with you in the future.

If you want to form better relationships with fellow entrepreneurs within your industry, start by joining online entrepreneurship forums and communities. This is a great avenue if you want to get your questions answered while developing relationships with business owners who operate in the same industry. This way, it will be easier to find networks to help you with your dilemmas.

When asking for help, make sure to be specific at all times. Avoid asking general questions about what you should do. This will only make it difficult for your network to lend help or advice. A great tip is to ask specific questions and giving them options to reach a resolution. The narrow the question is, the easier it will be to get specific answers. The key is to avoid vague questions and waste their precious time.

Business networking helps entrepreneurs hone their skills in collaborating with other business experts as they improve their profession and grow their startup. Following the strategies above will help you navigate the ever-competitive business landscape and discover more opportunities to work with like-minded individuals. As much as possible, work with business groups where you can achieve support, develop fresh ideas, and grow better connections.

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