Why Networking is So Important for Small Business Owners

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Why Networking is So Important for Small Business Owners

Social media for small business
The key element to effective business networking is to get your business known.
Business networking is cost effective and will significantly raise your business profile. Networking provides you with the opportunity to grow your customer base, increase sales and turnover. Isolation is a common feeling for small business owners. Networking provides you with the opportunity to build relationships with likeminded people who understand and more than likely have experienced similar situations as you.

Tips for effective networking:

ELEVATOR PITCH

Before you commence networking, be prepared with an elevator pitch. What is an “Elevator Pitch”? In a nutshell it sounds like a short 30-60 second well written business pitch telling someone who you are, what your business is and what you offer. Think of it as an advertisement – you are selling yourself. It’s called “elevator pitch” because it is meant to represent the amount of time you would have with someone in an elevator who asks you “What do you do”? My elevator pitch is…. “bizfit is online networking for small business owners, to help increase their clients, sales and turnover – plus we provide support and sound business advice from our team of advisors.”

BE PROACTIVE

Be actively involved in your networking group. Be a good listener, ask questions, learn from the success of others - make use of resources available. Remember this is your opportunity to build relationships, people like to do business with people they like and trust.

FOCUS ON RELATIONSHIP BUILDING

Don’t focus on selling – hard selling drives people away. Look to build long term relationships over time – this investment will pay off.

BE PATIENT

The best referral sources may take a while but the relationship will start on the right footing. In general referrals you acquire through networking are of a higher quality than other forms of marketing as they are mostly pre-qualified.

Networking is a two-way street. As well as receiving advice, you too can offer advice to members. Success is often “who” you know not “what you know”.


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